The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1883-06-12
THE CITY'S TOTAL DEBT.
&c couNclL FINANCE COMMITTED
md. /, 70 !. Our 81. lu.ara rlsal..a noll.r,
and will 50 B,,srt to coupell-rAs 10 c.nt
Law to be Recommended -'rhs
List and Davenport Loan.

For the past two weeks the Council Fl.
nance Committee has been working hard. 1t
has been getting upan annual statement Of
the city's Indebtedness, and deciding what
measures should be taken to I'll the general
cofEsrs for the coming year, and II possible
nav off some of the indebtedness. 1t will
srssopt report this evening that will prob.
ably stir up the orators aud produce How Of
eloauelt WisdOm from their mouths that will
cause the gpeolalor 81 d listener TO want 10
m otlt and lis down and die. The commit
Ice has held star chamber seSfona and dis.
snssed many schemes as the lHiELLlGENcEE
stateli. last week. But at LAST It has uiadeup
is mind, and tonight the report goes,
A statement will be presented showing the
total Indebtedness, Junel to have been S6eS,'
500 95; Of this auount a76 $50 % is outs:nnd'
Ing orders or draItsiR tra,lSitu. Another statE'
ment will show that the estimated recsipls
OF tue city for the year 10 come
will be $4,000 and the estimated ex'
nsr.eS abou; $lSS,OO0. In each Of these
casss The Water Works and Gas Works are
excepted as they are Aelf supporting aud sep.
arate The estimated revenues that are set
aside for the Board Of Public Works amount
IN $50 600. This, any enc knows, In city ike
Wheeling would allUw the Board 10 do very
llittle-nothing In fact OF any account on the
stree,s. TIE 5000 difference between the
estimated Tecsipts and expenditures cannot
be counted ON for appropriations to the
Board forspecial or new work for the reason
that for year, past, the expenses oil the
various Department. have. always exLeedea
the appropriations The bonded indebted
ness includes the $1,000 In Hempheld bond,
which will probably have 70 be paid, and tne
| g.
bonds. which have been lost for years.
TIE Board having been fouEd TO be sneces
si.y the aession that presented ihelfto the
| Finance Committee was: How shall we
provide means forthe Beard 70 carry on It's
A scheme that was much talked but found
| IN be inpracticab.e, was 10 sell the couuty's
$40 600 worth OF Pittsburgh, Wheel
inn 4 Kentucky bones, which are now
quoted above par, aud have the county turn
over 10 the city It's proportion, TO be spent on
streets and that the county spend
is share, say one.fourthf on Its roads
and bridges. Then there wss the
10 per cent levy, but before that was
deciaed on, the holders OF the List & Dayen-
mort I.oan bonds were teen. There remains
sl5i Id ri these unpaid. Tha interes. on
Inn Al I Y per cent, and par OF the principal,
has 10 Be paid this year, as In years past.
Bat after his year, the holders are willing 70
let tLe remainder run ten years without the
payment Of any principal, at the end OF that
timelthe payment Is 10 continue as at resent
They are also willing TO reduce the interest
to g per cent, This would relieve the city
considerably, as can be readily seen. =,
Id addition 10 this the committee Will rec
ommend the adoption OF the ten cent levy
for street purposes Is provided Tor by Inc
Legislature OF 1882. twill so recommend
mskIng the annual levy for general purposes,
SO cents on the 500 valuation as heretofore.
This so cents is, as 10 already well known,
the limit allowed by the charter. A gentle;
man remarked lat night, u tell you, until
III Il charter Is so amended that that levy can
be raised to 10 or rs cents, Just SO long this
city will be head over heels 10 debt. That
en.cent levy II adopted, and 1t ought to be,
will be some help, but not much for the
streets. as you know, are In an awful condi;
ton. You ought TO whoop up CounSil and
urge ZEN to adopt that ordinance" This
was spoken by gentleman well posted on
city affairs.
While the report has not yet been allowed
TO be seen by newspaper men, the above wiil
be found TO embrace the main points.