The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1874-01-19
GkAGtteIIiaettter.
The City Finances.

beginning Of last year.
From the first we learn that the total
receipts from all sources for the year just
ended amount to $ls1,7l6 10, while the
disbursements during the same period
were $21S,7Ss %, leaving the City Treas.
ury OF this time In rather q depleted con.
ditlon; that Is, showing balance on hand
Of only $2,777 81, as against $S4.968 10
held by the receiver at the same time last
year.
This, we believe, Is partly due to the fact
that the revenue from assessments, owing
to the reduced rate oi taxation as compar.
ed with last year, Is less than II was then,
and also 10 part 10 a falling of In the re.
ceipu from licenses, WhElsa the expenses
remain about the same, Pc
The statement Of the resources and liza
billties Of the city, which was also sub
mltted to Council al its last meeting,
shows Its actual property in real estate,
stocks and cash, 70 be $9l0, ,46 9l.
Ollhis, however, SGO2O6 5Orepresent.
iDg tue City's interest in the Marietta and
Cincinnati Railroad, 10 almost worthless,
and the same may be said Of the deposit
in Wheeling Savings Institution, which
will not realize probably more than ten
per cent.
This would leave lis available assets
about $4,000 90.
The bonded debt Of the city would ap-
pear to be $524,52O, Of which $4,000
natures this year.
For the information Of such Of our
readers as may not be familiar with the
bearing of accounts, we would state that
two large items which sppear as liabilities
In this schedule, viz: those Of interest
and expense of loans, Of revenue and
expenditures, are what is termed in
book keeping parlAnce imaginary &C.
counts, that is they are technically en-
ployed To balance and correct other en-.
tries, as for example the incorporation
with other accounts Of the real estate OF
the city. which had not previously sp-
psared In its present valuation. They
also represent the excess OF interest over
expenses in the negotiation OF loans,
bonds and stocks, and the excess Of reve.
nue. over expenditures during the entire
period in which an account has been kept
with the same.
This makes very gratifying exhibit Of
our ldebtedness as compared with that Of
sister cities Of similar importance, as will
be observed by reference 10 the table
published In the INTRLLIaRNcER q few
mornings since.
We believe this is the first statement Of
the city's actual financial condition which
has been published for a number Of years,
from the fact that the public books Of &C.
counts have been kept in such a confused
and unsatisfactory manner that 1t was
impossible to derive from them anything
like intelligent information, or to form
even an approximate estimate.
In this connection we would allude to
the extreme carelessness and negligence
which the report accompanying this state
ment shows to have existed. The errors
corrected by the expert employed to ad-
iust the city accounts foot up something
like $4,000. and indicate state Of affairs
that no business house would suffer TO
continue for tWenty.four hours. Sixty.
six shares Of bridge stock have apparent.
ly disappeared through the mAnipulationS
Of some financial prestidlgitateur, and
notes held by the city have been negotiat.
ed and absorbed in the same mysterious
manner.
We venture to assert that no specific
document bearing date three years old
could be procured from the chaotic mass
Of papers In the City Clerks Office, in
case Of an emergency, 80 securely and
carefully have they been filed away.
The room employed as depository for
the city archives is in a condition that
should excite the special admiration Of the
Council, and is something Of which the
community may be Justly proud, Beneath
covering Of coal SCOT and dust half an
inch In thickness. bonds Of city officials,
cancelled and uncancelled bonds and
coupons, are promiscuouSly scattered
Groundwith miscellaneous papers In way
which suggests that the demon OF disor.
der must mAkeit his private headquarters.
Exposed 10 pryirg examination or reno.
val by any one whose curiosity or inter.
est may lead them thither, all idea Of
their safely Is wholly imaginary, and the
Council might as well dispense with the
useless farce OF requiring official bonds as
TO keep them accessible to any parties
who might possibly be interested 10
their destruction. We make these re-
marks also that public officials may see
and appreciate the position in which they
are at any time liable to be placed. The
ioss or destruction Of public documents
would OF course, reflect ipjuriously upon
neir cuatodiAns, and we think 1t the du,y
o. Council to see that such means Of pro.
perry preserving valuable documents are
provided as would efectuRlly guard
against such contingencies as lhose Al
which we have hinted. 'N' ~
THERE was another old-iashioued
soaking rain from about 9 o'clock last
night until after midnight this morning,
Part OF tha itroa I. -.