The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1873-01-07
A Few suggestions for the First
Branch of COuHCilg---


Branch Of COuHCii.---
The First Branch Of Council is called
10 meet this evening 10 further consider
the question Of subscribing 100000 to
the Wheeling & Lake Eric Railroad
Company and a like sum to the Bridge
Company. The reasons against making
these subscriptions under existing cir
cumstanCes have been SO fully discussed
in our columns that We do not propose to
reiterate them now. The members OF
the First Branch have no doubt consider
ed the matter in all Its bearings and made
I'D their minds. Still, at the risk ol being
deemed wearlsome, We feel constrained
such Is the magnitude OF the interests In
volved-to suggest one or two points that
may not yet have been duly weighed by
them. We recently narrated the circum-
stances Of an attempt on the part Of q
gentleman named WILSON, who claimed
to be q member OF the firm OF
WILSON s Co, contractors for the
construction OF the W. & L. E. Rail
road, to make a large subscription
on their behalf at the Orrville meeting,
for the purpose Of controlling the election
Of tho new board. The statement was
literally true, though some circumstances
worthy of narration were omitted. But
the significance OF the affair consists in
this: The contract between the w. Il L.
E. Company and WILSON s. Co., as ex.
planned last spring by the compaDy's at
torney, contains this kind OF provision.
When $4,000 per mile had been raised
along the line Of the road, WILSON s.
Co. we're required to subscribe IN equal
sum; but they might make their sudscrip.
ton if they SaO fit tOithOu' raiting till the
Local aid had all been raised, and might
even supply the deficiency, ii they felt In
Cllned 10 take more than the equal half
Of stock as agreed on. The W. q L.
Z. people thought this was all in their
Avor They did not seem TO per-
celve that this state of things was peri
lous for them. Mr. WILSON'S visit TO
Orrville and his demand to be allowed TO
subscribe large amount OF stock and
vote 1t In the choice OF new board, was
10 precise accordance, as we understand
it, with the contract. OF course those
who subscribe the majority of.the stock
must have control. That does not seem
tOhsve occurred to our W. s. L. E, friends
when they were getting such generous
terms out Of WILSON s Co. But when
II came TO putting that part OF the con-
tract in force at Orrville, they realized all
at once that they had caught Tartar.
They refused to let the contractors make
their subscription. But what next? That
cannot bO tho end Of that matter. The
New York gentlemen know what a con-
'tFactis and they are not likely to submit
to Its violation "at this stage Of tho
game" Tho President Of the Company
realizes this and we learn Is seriously
troubled over the complications threat
eued. The situation, gentlemen in council
will preceiVe, Is in brief this. That these
New Yorkers, who may not be respon-
Slble for a dollar, have right to make
large subscription on the books Of the
Company ,asubsCriptiOn that might never
be worth dime but which would give
them full control Of the organization, en-.
Rbling them tochooSe directors President
and treasurer, and thus place them In full
control Of whatever money or bonds
might bO paid in on local subscriptions.
The esimple question here Is whether we
arc prepared to place the 100000 Of this
city In the hands Of tho Company without
better assurance than now exists that the
affairs and assets Of tho Company will not
soon pass completely under control of the
New Workers whom nobody processes to
KNOW anything about. We put it to
gentlemen as plain matter of business,
whether they can be guilty Of SO palpa.
O'e a violation Of the plainest dictates o
prudence and ever face this community
@'eFWAfd' Another thing members
ought TO be aware Of. We speak advis-
edIy when we say 1t Is the opinion Of
some Of the best legal minds of this city
IaA'S member Of Council who votes for
these ordinances, as matters stand,
runs risk Of being held person
ally liable, II the Railroad Company
OF l1 creditors Acnuirr vestod r;ObIu In