The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1874-10-10
something Worth Looking Into.

something worth Looking lnto'
The Hon. 9. F. SCOTT lately made a
speech at Harrlsvllle, Ritchio county, in
the course Of which according TO a cor
respondent oi the Richie Gdsette) he ex-
posed a scheme Of public plumber that
was passed through tho West Virginia
Legislature In 1871, aud again in 1873
which is well calculated 10 arrest public
attention throughout the State. This
scheme Of plunder Is as follows; On
the 2S,h Of February, 1871, an act was
passed Incorporating the "Steer Greek
Valley and Elk River Railroad Com
pany," authorizing capital stock Of $l,-
100000, and providing that subscriptions
may bo made in lands, attempting said
lands firm taxation, anti tie net tertnUeS
crms road shall pay eight per cent on tie
capital stock.
This act was amended by another act
on the 2S.h Of March, 1873, increasing
the capital stock to flee mill ions Of dollars
and authorizing, as before, all or any part
oil said capital stock to consist ol lands;
all Of which were tobe exempt from tax.
alton until the road should be in q condi.
ton to pay per cent dividends out Of itg
net revenues.
The act does not compel the building
OF the road, nor does it provide for any
forfeiture fits charter on account OF fail.
ure TO commence building 1t. Itmerely
provides that said subscription shall be
made in good faith within two years after
the passage of said act." As soon as the
lands are subscribed they become at once
free from taxation.
Now what was the intention in passing
this acIH Was 1t TO build q railroad, or
was 1t to simply exempt certain large par.
GELS of wild lands, held by speculRtors In
the West Virginia Legislature, from tax
alton. The idea Of railroad 10 start
from Steer Creek, in Calhoun county, to
rur through Gilmer county, and to ter.
inmate on Elk River, In Braxton county,
looks suspicious on Its face, and indicates
the possibility Of a 'Job" underneath It,
and Mr.. scoTT, in the speech referred to,
very broadly intimAtes that two prominent
Democratic leaders, in the West Virginia
Legislature, large owners and specu!ators
in West Virginia wild lands, got up and
put through this scheme to exempt their
lands from taxation.
What makes the project especially sus.
picious looking Is the TACT that two years
after the first charter passed, and without
one mile Of the road having been built,
an amendment was put through the Leg
islsture increasing the capital stock to
$4,000. 900, and making the increase, as
before, to consist in whole or part OF these
lands. The frs. &C! was passed early in
1871 and the second early in 1873, and al.
though nearly four years have now passed
away since the original act of incorpora-
tion was obtained, yet in all that time not
one shovel full of earth has been dug on
the line OF the proposed road. 1t Is fair
to presume that many more years will
come and go and see this road still un-
built. Meanwhile, however, five million
dollars worth OF wild lands, Or such part
thereof as may be subscribed by speculs.
tors to the capital oI this road, will be
exempt from taxation, State and county,
thereby entailing in years to come thou
sands OF dollars Of additional taxes upon
tho people not only OF Calhoun, Gilmer
and Braxton counties, but also upon the
people OF Ohio, Brooke, Hancock, and
every other county in the State OF West
Virginia, Five million dollars worth Of
property exempted from taxation in this
manner is a great public calamity, and
the scheme Is one that may bo followed
up by other similar acts Of incorporation,
until millions more OF property may be
exempted in the same manner. The dis.
astrous end OF such legislation is very
plain: 1t must tend TO destroy values
throughout the State by reason Of the i'm.
positions it will lay upon them. Acts o!
incorporation that make no provision for
carrying out their alleged objects, aud
that grant meanwhile exemption from
taxation, should be treated as trauds upon
tho revenues, and should be repealed as
soon as enough honest men can be elected
to the Legislature to pass repeating act.