Martinsburg independent. [volume] (Martinsburg, W. Va.) 1875-1900, 1882-05-20
READ ANl] REFLECT.
Important Facts Upon Cor
poratiOm Affairs.
Eds. Jndependent:

| Eb0F4tfOm Affairs.
Eds. independent:
have taken some little trouble to
look up the records and inform nv
self on corporation matters, and nv
search has developed the following
facts:
When Mr.. Logan and the pres
ent members of the council were
first elected the floating debt of the
corporation amounted to over S27.-
900, S12, 900 of which was held by the
banks in this city and $4,000 by Mr..
Elias Emmert. Besides this there
was debt of $4,000 in overdue
coupons. The former mayor and
council had negotiated the loans in
the banks on which they were pay
ing per cent. interest. The bonds
of the corporation had deprecated
fifty cents on the dollar; its credit
had been strained to the point that
it could not borrow another cent. 1t
owed the Gas Company $3.50 for
lighting the streets. The Gas Com
pany pressed for their money and
| the council gave them notes for the
| amount, which were endorsed by the
company and the money raised in
bank. On this gas note, which the
corporation had to carry, they were
paying per cent. interest.
That was the financial condition
of the corporation, as shown by the
corporation records. Mr.. Frazer
was member of the council during
the time this debt was incurred, and
part of the time treasurer, receiving
$50 as councilman and $75 as
treasurer.
On January 4, 1877, by vote of
the council, Mr.. Frazer being a
member, the gas was cut off from
the street lamps, and the police were
discharged, except one.
Now there is big talk about Mr..
Frazer lighting up the town. Why
didn't Mr.. Frazer vote against cut
ting off the light when he had the
opportunity Why didn't he then
say he would give his salary as coun-
Gilman and treasurer for that pur-
pose 3? He did not do this, but on
the contrary voted to shut off the
light. The records show that this
was done in January, 1877, before
the present mayor and council were
elected. Why did Mr.. Frazer vote
to have the lights shut off !? There
must have been some reason for it.
lie was the treasurer of the corpora
tion and must have had some knowl-
edge of the state of the finances.
Was it because they owed the Gas
| Company over 81 500 and the banks
So, 900, and $4,000 of overdue cou-
pons, and had no money or credit ?
| If that was his reason for voting to
shut off the light he did right. But
| did not the present mayor and coun-
Gil do right in letting it remain shut
off for the same reason that they
| could not pay for it =?
Now, during the time that Mr..
Frazer was in the council and acted
as treasurer, the corporation was
run into debt nearly $50, 900. During
the four years that Mr.. Logan has
been mayor all that debt, exaept
about $4,000 has been paid off. Does
this show nothing ? Let every tax
payer ponder these facts, taken from
| the records, for himself.
| Now that the large floating debt,
left by former council, of which
Mr.. Frazer, was member, has been
nearly paid off, the corporation is in
condition to give the light which
MIR. Frazer voted to shut off. The
| present mayor, and every member of
the present council have, so far as |
know, and | have talked with nearly
| all of them on the subject, always
been in favor of lighting the streets
just as soon as the corporation was
able to pay for it. BY their good
| management of the corporation
finances, the present council has
made it possible to light the town
without going into debt, and they
will do it. if reelected, within the
| next few months.
Again, the present mayor and
council had the interest on the notes
they found in bank, including the
gas note, reduced from to 6 per
cent, and saved that much to the
corporation. Why didn't Mr.. Frazer
make an effort to have this done,
and he would have saved more for
the corporation at that time, when
it most needed it, than by now offer
ing to give his salary. If that was
Mr.. Frazer's ideas of financiering it
would be bad for the corporation to
have him again apply them in its in
terests. TAXPAYER.
Too Cheap.