Frostburg mining journal. [volume] (Frostburg, Md.) 1871-1913, 1884-09-27
FOURTEENTH YEAR.

FOURTEENTH YEAR.
This is an anniversary issue Of the
JOURNAL.
Thirteen years ago next Tuesday
the first number of the first year was
issued.
The paper to-day inauguratss the
fourteenth year.
But it is not of age, nor even of
success, it is inclined to boast. The
one implies the other. $500
1t is rather the steady, even course,
announced in the beginning, consist
entity pursued.
With the notion that a paper is
much less teacher than a servant of
the people, it has not affected pc
dsntic role but has constantly advo-
Gated whatever seemed best for the
community.
Mistakes have been made beyond
question, but many others shared in
our errors no matter what their
character or magnitude.
For some of these we have been
held to account, while much of the
good accomplished has been denied,
reluctantly admitted-in both cases
passing without even the recompense
of gratitude.
But this matters little, for we are
concerned no further about the past,
except to come out even with all the
obligations incurred under circum-
stances dominated by its necessities.
The JOURNAL is alive and we'll
to-day, and its purpose to keep in
good health is strong as ever.
With a subscription and advertis-
ing list obtained by no meretricious
agencies or persistent drumming"
its rests secure in the solid satistac-
ton that its merit brings to its sup
port that large element of the COM
munity which Graves food stronger
than that which pleases the taste and
satisfies the hunger of ''babes and
sucklings."
So that what comes, save death
itself, ",aon on1nis mOriar."
Coon authorities inform us that
the annual receipts of the Frostburg
Water Company amount to at least
$500 more than we credited last
week.
If this be correct the new institu.
ton will realize $4,000 annually from
water rents. We have been also in
formed that 10 per cent. of receipts
for current expenses is also too low.
Perhaps 80.
At any rate we will make it 20.
This will give us sinking fund a
the end of five years with which t'
take up $500 of the bonds, leaving
an Indebtedness of, say $29,50o
Follow this up carefully and it vii
be found that at the end of 20 year
the debt will be paid, leaving a bal
ance of $1,000 in the treasury-1'
years earlier than the extreme limi
for the bonds to run.
The interest is calculated upon al
issue of $35, 000-a sum far above al
that will be necessary. The annua
expenses are placed at $S0O-also ex
travagant,
We have made the worst shown.
possible in order to demonstrate how
certainly self-sustaining the work
will be. We have taken the extrem
limits in all cases-(D the issue; e
the expenses, and (2) the rate ofinter
est.
Now, cut down the issue to $25, OG
and the expenses to one half. leayin;
$4,000 annually Ills receipts, and on
calculation will run the bonds out 0
existence in much less time tban l.
years, as shown last week.
ONE argument against new Waite
Works takes this shape
"What Twill you consent 10 mortgag
your property for the payment Of
debt of $35, 200 ?"
Let us see how good this holds.
The taxable basis Of the Corpora
ton is over one million dollars-lo,
at that. Taking $50, 900 Us the ex