The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1872-12-05

undertaking and place obstacles in its
way, and this disposition on the part o.
that paper may have impaired color
to some Of it's objections that is not
warranted by the facts in the case. 1t
saws, however, in it's editorial article Of
last Tuesday, "If we could have sat-
isfactory guaranty that our subscription
would secure to US beyond all perad.
venture the benefits Of the practical ter
miuus OF completed road we would
not feel disposed to question overmuch
it's advantages as compared with other
roads" What guarantees our neighbor
may demand beyond those already fur
nished by the manifest ability Of the
two companies to fulfil the just expect
atoms OF our people, We have no means
of knowing; it is like DUSDREARYs
conuudrum, lone Of those things that
no fellah can find out.
And now as regards the citys liseil-
,ty for more than the amount sub
scrbed. The Intelligencsr says:
"As we understand the case, our sub.
scription os $500, 900 to the stock OF an
Ohio road makes us liable to the credl.
tors OF the company for an additional
$500 900. So that in case the company
should become involved or bankrupt we
should have the extreme satisfaction OF
doubling our subscription to dead cor
pora,ion."
In this our neigbor is entirely mis-
taken. 1t is true that subscribers in
Ohio are liable for an amount double
that of the stock subscribed, but this is
under local law and does not apply to
individuals or corporations in other
States. How can the city Of Wheeling
be compelled to pay more than the
amount she obligstes herself for
How will the State authorities OF Ohio,
under a State law, compel US to pay
more than the amount Of our original
subscription To ask the question Is
to answer it. 1t cannot be done. We
will be liable for 100000 to the Wheel
ing and Lake Erie Railroad Company,
hut for no more and there is no
process of law by which they can
collect more. But this feature oil the
Ohio law, while it does not affect
our liability, affords to us one OF the
best guarantees that our own susscrlp-
ton will not be lost. Individuals and
corporations in Ohio being liable for
double the amount of their subscrlp-
ton. there can be no doubt that the
reous tie amount OF money can be had
from them to complete the road and
save us from any possible loss that
might occur. The IntslRgencer says;
Further: Under the Constitution Of
this State lately adopted no municipal
corporation is hereafter allowed to be-
come indebted in any manner, or tor
any purpose, to an amount, including
existing Indebtedness, in the aggregate
exceeding per ceutum OF the value OF
the taxable property therein. The
effect of this constitutional provision
is to limit the maximum indebted
ness of this city to about $780,
600. The existing debt is about $5OO,-,
600. Add to this 100000 railroad
subscription, and the limit is more than
exhausted. What then becomes OF our
prospective Water Works improve
ment, the necessity OF which is now
pressing us, and which cannot much
longer be delayed2 How shall we pro-
vide means for other Improvements
which are demanded in our system o.
sewerage and on our streets and alleys
Will il be by direct taxationY
The fact that the new Constitution
prohibits hereafter an Indebtedness ex-
ceeding five per centum of the taxable
property furnishes an additional reason
why the present opportunity OF securing
the proposed railroad and bridge should
be at once embraced. If this opportu-
nifty of improving our railroad connec'
tons be permitted to pass by unlm'
proved, when will we have another
chance of increasing our railroad facil-
tiles? The necessity for improvement
of the water works is by no mesns 30
urgent as is represented, and in fact
there are few cities on the continent bet.
ter supplied with water than Wheeling
is to-day. Our need for railroad fse'li-
ties is inst now paramount to all other
wants and should be first met.
THE proposed subscription for the
railroad and bridge will add $4,000 q
wear for, say twenty years. to our present
CITY taxes Shall we add to his again,
at least 100000, in any one, or even
two years, for improvement of our water
works"
The present rate OF city taxation is
already as high as it can be under the
present charter, and the Council have
authority to levy tax for only one OF
the proposed improvements. The
interest upon the bonds Issued
for one Of these improvements will
therefore be paid out Of the ordinary
revenues O. the city without any in.
crease of taxation, and seven per cent
upon 100000, or SCI, 900 may be rails
ed by tax. This will add to the dupli-
cste about one-fiith OF one per cent on
IL - III "a