Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1884-11-25
$4,000
Together, an annual sum Of

at 5 per cent. $l7,5OI
For sinking fund at ) per cent, 10000
Together, an annual sun Of $4,000
which, it is believed and assum
ed, can he provided by thu
gas and water trusts. as it would only ado
$1,000 for both of those Boards to the
SlI 900 now provided by the Water Boart
alone, to the loan Of 1871.
SOME REASONS.
The public building loan and the loan o
1871 being thus extinguished, their annua
charge upon the city treasury Of $500
viz $4,000 for the former and 1876, 900 70,
he latter, would cease, and that amount
less the Sll 900 provided BY the water trust
would be reserved to the city treasury. Tit
net sum would be $4,000. A foregoing
statement placed the city revenues at Sls5,
600 and expenditures at 5000, 900, showing
annual balance against the city OF $4,000
Now credit net amount reserved as above
$40, 000-and the balance is reversed anC
in the city's favor $4,000.
Ansther and a potential reason for TIT
proposed consolidation is that it funds will
the floating debt, $4,000 Of bonded debt
that otherwise would have to be paid out o
the city treasury during the next two years
and would no doubt result, as heretofore, ii
substituting that amount of Outstanding
orders for bonded debt. Under the ar
rangement proposed it is believed that nj
occasion should arise for Outstanding or
ders," or floating debt, but that the revenue
would meet the expenditures.
The constitutional 5 per cent limit of in
debtedness for the city is now about 1910,
coz. is .he programme suggested be car
RED out the bonded debt Of the city YoQ|
then be 100000, leaving a mar
gin to the city of SOL, 0O(
which it is earnestly recommended, should
be reserved for pressing contingencies tina
so often and unexpectedly arise in the nan
sgement of municipal affairs.
II CAUSES.
There seem to be two plain causes for III
'arre amount of outstanding orders usual
'ermed the city's financial embarrass
ment." One is the excessive e~xpenditur
By the Board of Public Works, end the 9th
er a too rapid reduction Of the bonded deb
The remedy for each is submitted in tn
foregoing suggestions.
The committee tail to see sufficient reaso'
for any increase of taxation, and believ
that # authority TO impose it we're obtaine
it could only result in detriment to the be:
interests of the city.
In conclusion your committee beg leav
to submit the following resolution:
Resolved, That the statements and sue
gestion herein contained are respectful
submitted for the consideration Of the Cit
Council.
J. ". PAxroy, Chairm'n.
~ TO The BREACH.
The turn the report had taken, as regard
.he Board of Public Works, was somswha
unexpected and Mr.. Campbell was qutckl
on his feet, with 8 reply. He said be hs
had the honor of introducing the resolC
tons which had been referred 70 the con
mii;ee, but he did not think they conten
plated any such result as the committee ha
reached and he was at q loss to understan
why the attack was made on the Board {
Public Works, which he considered an e,
ctss VI INC pIo'inSr VI snc So
tee. Nor did he see that th
committee had been called upon
express itself on the subjectoi Rule 4, whic
was q Gripping Of the Board, and va
simply throwing it back into the condition
Of the old committee of streets and alleys
This he followed with q defense Of th
Board, such as has been frequently credite
to him.
Mr.. Paxton replied that the committe
did its simple duty, and in looking for tn
way out had duly inquired into the cause
BE also mentioned that be had "consulte
with The Solicitor" which threw q food
light on the situation in the minds Of MANI
A SLIGHT PHIIIPPIC.
Dr. Reeves said he was glad he had CON