The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1884-08-12
THE CITY FINANCES.
EFFECT OF SOME SC: FALSE EXPORTS
Which HAYS Reea Tsl.krsph.d 10 Papers In tho
EAstsra Ciiita-rhs L!b.Ia on tbs CITY llav'
IA. isE thtiS NatsrAi Btkait, and ltqairies
s5 ~ 10 Their TTuih FenripE II.

'll,}NN nv, ny MI 8Slteg tiS
For tho past week exaggerated reports Of
he financial condition Of ibis city have been
going the rounds OF the press Of the country.
They originated In special dispatches aent TO
Ne York, Baltimore ChicsEo aud other pa.
pcss. Considerable comment has been crea.
led by, these stories, q few. Of them reaching
Wheeling people abroad or persona having
business relations With Wheeling houses, aud
Of course causing no little unsasinsta. Ohe
instance OF The result Of tho reports Is seen
in tue following letter, written by an official
Of q leading insurance company In the East
10 q Wheeling insurance man. It shows the
effect Of tho circulation OF such miarperesen.
tAtlonB, and also the possible effect OF q
policy which would touch the efficiency OF
The police or FIRE departments OF the city:
TuE ISiuRAScE VIEW. p2sn
DEAR SlR:-We inclose herewith a clipping
from yesterdays New York Tribune, giving a
brief exhibit OF the financial condition OF
tho city OF v heellpg and showing gu ou:.
look quite discouraging, and we write for the
purpose Of learning the truth Of the state.
menis and whether the CONSEQUENCES Of the
existing sta!e Of affairs are likely 10 be Of se.
rlous importance. ayGaSIH "YE Ng
The limi. permitted by the Constitution Of
yonr State Tor the total indebtedness CT the
city having been nesrly reached, and the
bills l,r wages and expenses for the Fire De-
p8rtlnent and Police Department and other
Important city Offices being still unpaid,
largely In e1cesa OF the legal margin permits
able Tor such purposes, grave questions nat.
urally aIisa concerning the fulurs Of insur.
ancs In the locality. Re 'lslqG.f &ii
Should the necessary amount OF money be
raiaed without regard TO tho legality OF the
loan, II does not seem likely that the entire
burden would much exceed the legal maxi
mum OF 8 percent OF the total valuation, or
by excessive drains draw dangerously upon
the soulces OF business prosperity, but the
emergency would be- met for the timo being,
und the ordinary machinery OF civil RiIaira
would procsed without interruption till
SONS proper ranction Of the means employed
were obtained. On the contrary, II the im-
portlncs Of regular payment Of the en-
ployes Of the Police aud Fire Dsaartments
were to be Lost sight OF, md the efficiency OF
| these branches OF protective administration
should by this neglect Butler serious decline,
results 1aay follow endengaring various
moneyad interests. .G.SI 81 .l - :.
Thene matters have no doubt received
| close attention on your past and the neceg-
slty Of extra caution on the part OF every
underwater has been present to your mind.
The subjsotu OF moral and material htzlr5s
ore clearly intefdepencent with the average
prosperity Of given locality and the local
administration Of stfairg.
We should bs glad to have your views upon
the situation, and TO learn particularly
WHISTLER the present position Is critical.
F4.t "A REPORT CONNECTED.
Thsrsport W.T. published, among other pa.
pers, by Bradstreets OF last week. The para.
graph IN that pspsr evoked the following
letter, which will b. mailed to the editor:
| es THxAsuaEB's OFFICE, J
STATE or West VIRGINIA,
rs, WHEELING, August l1.h, 1884. 4
To The Editor Of BfddS'rtes'.
SRI ses in your iesue OF the o h inst,
thst you represent this city Is 20 total finan.
cial wreck, that the legal limit OF the city's
debt, a percent, has been reached, that the
city eau borrow no more" &c., &c. Now,
sir, the good people OF this city would like te
know whera you got. such information.
While our city has not been managed in
every particular as sic should have been,
doubt II there are any cities In the Union
that have better financial standing, or that
can mako q better showing. The limit Of
our city's borrowing capacity is not as you
say, iorty.dYs percent; 1t is only five percent,
end even that limit Of five percsnt has rot
been reached. On the first day Of January.
1874, the aggregate Indebtedness Of the city
OF Wheeling was in round numbers about
$50 900, and in 1888 the real and personal
properly OF the city subject 10 taxation
amounted to SIG, s74, 5G7, go that the indsbt-
edness OF the city on the first duy OF last jan
nary did not amount to four, percent; truly,
q onderiul tax rate III levied for yearly to
drive trade and industry from our city"
Dir, ! doubt il you can Dame three cities in
the country Of about $1,000 population in as
good a financial condition as Wheeling, West
Virginia, or one whose four snd one-half
percent bonds command premium OF five
to eight percent; and we don't have to go
awsy from home to dispose Of them; they
are gladly taken by our own banking and
busincSs people. II Bradstreets' estimate
Of the | financial standing Of business
firms and business men are as feliabls only
as It's statement OF our city'a condition, then
! pity those dependent upon its columns for
information. TRos. o. BR1EN.