Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1888-09-11
TO-NIGHTS MEETING
or THE CITY COUNCIL TO BB AN IMPOR'
TANT ONE.
The Railroad and Loan Ordinances TO Be Sub
mittsd With the Resolution Of the Cihzens'
Msshns-Noney for the Temporary Bridge

meets thlS evening, VIII oe IN Hn'
important one, and there should be q
large attendance of members. The reso-
buttons adopted by the citizens meeting,
Saturday evening, will be presented, the
report of the Finance Committee, embody-
ing the proposed new loan ordinance, Will
be before the body, and in addition the
two Baltimore and Ohio railroad ordinances
will come up, and should bave very care
fol consideration and be passed, if possible,
without delay.
The Committee on Finance met last
svsnins. and devoted several hours to q
consideration of the details Of the loan
ordinance, as it was drawn up by City
Solicitor Caldwell. After carefully going
over all the questions entering into the
new emission Of bonds, the committee
came TO the conclusion that it would be
best to have the loan voted upon at a
special election, held at the earliest possi-
BILE moment, for the reason, that If the
bonds were issued this year, the city
would save about $125 . month in interest,
which would far more than Offset the ex'
penses of q special election. Ii was ac-
cordiugly determined to fix the date OF
the election for October 18th, the bonds to
bear date of January 1, 1888, redeemable
after ten years and payable in thirty-four
years, with interest at the rate Of four and
ons-half per cent.
When it came to fixing definitely the
amount ofthe loan, there was a good deal
of discussion. When Council ordered the
Committee to report an ordinance pro-
yidiug for the issue of $4,000 OF bridge
bonds, it was the general understanding
that an iron bridge would be built. Inc
expression of opinion at the citizens
meeting was so outspoken IN favor OF q
stone bridge, that there Is no room 70
doubt that Council will order the con-
~struction of q bridge Of this nature. Ii 90,
it will cost more than $5O,OOO, and taxing
this view of the situation the committee,
while reporting the ordinance IN con-
tormity with their instructions, adopted q
resolution recommending to Council an
increase in the amount of bridge bonds
from $50, 900 to $4,000.
When the committee held its preiiml-
nary meeting last week, the amount oil
money it would take to redeem the out
standing bonds of the loan Of 1877 was
placed at sos, 900. This loan was origi-
nslly Sill, 900, of which $l2,O 900 has been
paid, leaving 500, 900 Of principal out
standing With accrued interest, it would
take S1O1, 900 to lift these bonds, and this
mount the committee added to the S5O,-
900 in the ordinance, making the total
amount of the loan, not including the
S25 600 of increased bridge bonds recon-
mended to be included by the Commlttee's
resolution, $751;, 900. Adding the S2o,-
600, the amount is $l76, OOO-or within
about $50, 900 of the legal limit OF i've per
cent. upon the taxable valuation Oh real
and personal property.
This matter will come up before Coun-
ell for discussion this evening, when II Is
probable the extra SIS, 900 will be added.
Several Couucilmen were looking around
Yesterday to see where the money was to
come from to erect the temporary bridge
across the creek, at Main street, in case
Council should see fit to adopt the recon-
mendation OF the citizens meeting in this
regard. After looking over the unex
pended balances to the credit of the several
committees and departments of the city, it
was thought that a total of about $1,000
could be gathered together from the sew
eral funds without in any way cripplipg
them. The sources from which this money
could he secured were stated as follows: