The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1872-12-04
SEC s. Said bonds shall be issued for the

SEC. s. Said bonds shall be issued for the
purpose and disposed OF Is proNldeu oy
| the ordinances OF this city, passed -
providing for subscription OF three nun
capital stock Of the Wheeling and Ohio
Union Railroad Company anu the
Wheeling and Lake Erie Railroad Com
pany."
secure the payment and redelhPtloh ot
said bonds and the punctual payment OF
the interest thereon according 10 the tenor
and effect OF the same, the Mayor Is here
by authorized empowered ana directed
by proper instrument in writing ana uh-
der the common seal Of the city, signed
and acknowledged for record by him as
Mayor, for and on behalf OF the clty, Ia
convey To said Commissioners anu thelr
SUCCESSORS, in trust, the city's stock IN s'lld
railroad companies and AL the reai pro
perty OF the city OF wheeling ana lhe
whole of the revenues OF said city, nom
whatever source derived, eXcept--.
SIC. j.. That from the various taxes,
rents and revenues OF the city, after ais
charging all annual liens now existing by
virtue OF any ordinance, there shall AT
least once in every month be paid INTO
such bank I'm the city OF Wheeling as said
Commissioners shall from time To time
direct, TO the credit of said Commission
ers, such sum aS shall, together with the
dividends received by the city from the
stocks of said companies, amount III every
six months Ia the sum Of twenty-onr
thousand dollars and such further sum not
exceeding one per cent, as Will cover cN,
change and the actual expenses oi said
Commissioners in the discharge OF their
duties the dividends accruing to the city
from said stocks shall De paid In ike man
ner To the credit of said Commissioners.
SEC. d. The said Commissioners shall, out
OF the money received by them, pay tho
semi annual interest accruing upon thH |
bonds issued under this ordinance, with
the exchange and expenses necessarily IN
CURED in the execution OF their dulles not
exceeding one per cent, and II al any
time the dividends accruing from said
stocks exceed the amount of such semi |
annual interest and expenses, the excess
shall remain in their hands 10 be applied
by them 10 the purchase and redemption
of said bonds at rate not greater thah |
their par value.
SEC II shall be the duty OF said Com |
once in every year, or oitencr |
II required by Council, to cancel as they !
are redeemed, and deliver To the Clerk ot
the city, any bonds or coupons redeemed |
by them, and the said Clerk shall preserve |
the same In "a book 10 be provided for that |
purpose.
SEC. =. 1t shall be the duty OF the Com |
miSSiOnerS tO keep "A true account OI lH"iT |
receipts and disbursements, ana shall re- /
port the same 10 Council annually anu Al |
such other times a. Council may direct.
SEC. y. 1t shall be- the duty Of said COM /
miSsionerS 10 enforce each aud every pro- !
vision OF this ordinance according 10 It's /
true intent and meaning, aud any failure /
upon the part Of any one ot SAID ComuilS-
SioucrS 10 comply with any one OF the pro-
visions of this ordinance shall Dc deemed |
u forfeiture Of his bond.
SEC. 10. The Council may for cause, nj
any time, remove one or more OF the Com
miSSionerS or Of their Successors, and amy
Of the said Commissioners or their success
sorS may at any time resign his Office by
giving notice In writing Of such rcNigna-
lion To the Mayor or Clerk of III" city.
Whenever any vacancy occurs In IN" SAID
office IL shall he fillcd by the Council
SEC. IL. The commissioners ana th"lr
successors shall receive aS a compensation
for their services ----- OF one per cent.
Jn the amount diSburs"d by them purSu-
ant To the provisions Of this ordinance,
which compensation shall De PAID Out vi
The city treasury.
SEC. IL The bonds and coupons to hc is
sued under this ordinanc" shall not b"
subject To taxation by or under the author
ty Of the city of Wheeling.
SEC. l3. This Ordinanc shall bc In force
rom and after It's passage.
On motion, the further consideration
of the subject was postponed until Fri
lay night, and the documents ordered
% be printed in the daily papers.
On motion, the Second Branch ad-
ournei to meet on Friday night, the
special order being the consideration OF
he ordinances reported from the Com
nittee on Railroads.
FIRST BRANCH
The First Branch met in special
session.
Present-Messrs Allison, Blair, Bor.
np, Brodie, ButterfeId, Ewing, Rcister,
Schambrs and Todd.
Mr.. Allison was called 10 preside.
The ordinances and report OF the
Committee on Railroads was received
rom the Second Branch and its action
. ordering the ordinances and docu-
nents printed was concurred in.
The report OF the Comm ttee on
Streets and Alleys, TO whom was re
erred the mater OF renting the Sixth
ward scales to William ST. Charlie and
he Fourth ward scales to w. 7.
Adams was read. The report present
ng no resolution for the action o;
Council, it was recommtted.
The resolution directing census takers
10 repor! to Council the resut OF their
work 10 taking the census o. the city by
he third Tuesday a December waare-
,elved from Second Branch and con-
Cured in.
The First Branch adjourned until Fri
isy evening.