The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1873-01-22
Honi soit Que NAL y Pense.


The tone and temper of your CORES
1ondent who sails under the mark OF
Posted" in your paper yesterday, ia
- only excuse for again appearing in
he daily print. Uuder ordinary Cir
cnns sta pces l would not notice an as.
nailsnt VINO has not the manliness to
Nrite over his own signature, and |
ahould not have noticed any OF the
anonymous pieces in which my name
Mas been used, only to correct msrep-
rssenta,ion, and aterward to correct
su error made in my first communica.
ton. But as this last assault is q dead
Set at my integrity and call for the
q Finance Committee Of the coming
c puncil to inquire diligently into the
case; in other words 10 take the steps
10 legally hold myself and others re.
sponsible for the money lost in the
Saving Institution; and lest by nv si-
lence al this time it might be believed
bv some that the Finance Committee Of
1870 was q pack OF thieves aud E. j..
Stone the king Of them, | again make
nv obeisance to the public.
1t is we'll known to every one at all
acquainted with the proceeding Of de-
Lucrative bodies-that committees have
I o power over business referred to them,
but TO examine into the business aud
recommend to Council the conclusions
they have come to-when Council, by
accepting, adopting or altering eaid re-
port, assumes the responsibility OF the
whole case.
When the Finance Committee OF
1870 was organized they found the
Sinking Fund in the shape Of cAsH de-
posted in the Savings Institution and
Merchants Bank, bearing interest at six
per cent, and certificates and drafts OF
the city also bearing same interest.
The records of the Council of the
wear previous will show that the Coun.
Gil not only knew the amount OF said
fund, but where it was deposited, and
that they approved OF the same.
During sll the year 1870 no action
was had by Council, nor, so tar as
ever heard, was there even q question
raised by any member OF Council In
either body that the Council did not
think her funds in safe hands. Nor
WAS there a question raised In the CON-
mittee on that subject.
| admit that Mr.. Tingle, and per-
haps Mr.. Pollock, presented the matter
once or twice of placing part OF the
funds in the National Bank OF West
Virginia, as they were friends OF that
bank, and thought she ought to have
share of the deposit, and arrangements
were made by which the deposits ac-
cruing after that date were To be de-
posted there upon conditions that SAID
bank would pay the same interest upon
the sum as the other bank, which,
was informed afterwards. she refused
10 do. I may be mistaken in this, but
! was so informed.
The strain made by part OF the
committee to divert the loan to the
taking up OF the Water Works bonds
wss never made upon the ground that
the loan was not in SAFE hands, or that
il would be more protitsbly or securely
invested by the transfer, but that 1t
would release the funds arising from
water rents from the bands OF MI.
List, who had control OF them. and
give the Committee. OF Water Works
more funds with which to operate.
And who ioes not know that even these
gentlemen could have presented their
project in Council.
The Council would have ordered the
committee to make said transfer II II
wls thought best.
Why all this howling now? Does
anv one suppose that Thos. Sweeney
NJ, Pollock, J. G Smith, G. K. TIngle
or J. Stone would for one moment
have consented TO leave the finds OF the
civ 70 far as they had control OF them
in the Savings Bank If it had not been
thought safe? Or would Council have
.pproyei Of the report OF the commit
tee in January, 1871, that $52 900 were
deposited there2 The standing OF the
Savings Institution and Mr.. Qnsrrlel
were above suspicion. Stock In thai
Institution ruled al 100 per cent higher
than any other in the city a, the time.
The tact that the Council not only
received and approved the report and
action OF the committee, hnt the man
ner in which il was done (see records
o. both Brsnches) not only show tha
the committee are exonerated, hu
that the Council and committee ap'
proved our course. r. j. oroNE'