Roanoke daily times. (Roanoke, Va) 1886-1890, 1889-12-11
THE RAILROAD.
PROPOSITION TO SUBSCRIBE
AN ADDITIONAL 100000.
TO BE SUBMITTED TO TIE VOTERS
The Ordinance as Adopted by the City
Council Last Nisht...An ImpOr.
tant and Interesting
Meeting.

The city council at its meeting last
night passed the ordinance provid-
ing for the submission to the freehold
ers of the city of the proposition to
subscribe 100000 additional to the
stock OF the Roanoke and Southern
railroad, and if there is no reconsider
alton by the council in the meantime
the matter will be voted upon on the
2Stl Of January next.
When the question Of adopting the
ordinance was first put last night, all
the members of the council except
Mr.. Andrews voted in the affirmative.
He begged to be excused from voting
on the ground that he did not fully
understand the proposition. Later,
however, owing to some misapprehen-
sion as to the Interpretation OF the
precedence of the railroad matter over
other appropriations, a motion to re
consider was entered by Mr.. Scott and
lost only by vote of six to five.
The report, in detail follows:
When the roll was called all the
members of the council answered to
their names except w. X. Andrews.
He came in later.
Mr.. J. A. Mcconnell at once offered
q motion providing that in voting for
appropriations, the railroad appro-
priation should have the precedence;
that the railroad bridges should
come next and the public hall
for mayors Office &c, next in
order. He also moved that each one
of these matters be voted upon sepa
rately and distinct. The motion was
unanimously carried. The council
then proceeded to the consideration
of routine business, after which Colo
mel John E. Penn addressed the
council on the subject of the Roanoke
and Southern railroad. He was a
warm advocate OF the road, he said,
but he very much feared that but tor
the friends of the enterprise at the
other end the road wonld not possess
very much life at present.
Col. Penn then read at length the
proposition of the road to the council
and explained the sections seriatim.
1t read as follows
Be it ordained by the council Of the
city of Roanoke, Upon the petition of
the Roanoke and Southern Railway
Company, by its president, filed on
the 3rd of December, 1899, that the
sergeant and judges of election for
the said city of Roanoke, open a
poll at the several voting precincts of
said city on Tuesday, the 2Sth day of
January, 1890, and take the sense OF
the freehold voters on the question
whether the said council shall be
authorized III the name OF and
for the use of the city to cause to be
issued bonds to an amount not ex-
ceeding 100000 for the purpose OF
making a second and further sub
scription to the capital stock OF the
Roanoke and Southern railway.
9. The said election shall be held,
and the authorities issue said sub
scription shall be upon the following
terms and conditions, namely:
First. the said council may sub
scribe for the stock of said company
to the amount of 100000, provided
that in doing so the aggregate debt Of
the city shall not exceed 10 per CEN
tum of the assessed value of the prop
erty. real and personal, within the
city limits.
2. That the said company shall,
within ninety days after said subscrip-
ton shall be made, commence to con-
struct its line of road at its terminus
in said CITY, or within one mile of the
city limits, and shall prosecute the
same in bona fide manner with all.
reasonable diligence to its compile
ton.
8. The bonds Of the city of Roa-
noke shall bear per cent. interest
and shall he redeemable in thirty
wears, and shall be issued and delivered
to trustee to be agreed upon
between the council of the city OF
Roanoke and the president of the
Roanoke and Southern railroad. The
said trustee, upon the certificate OF
the chief engineer of said railway
of the completion of the
grading of each and every
mile of said road, from Roanoke city
southwark, shall deliver to said rail
way the bonds of said city to the
amount of $4,000 upon like certificate
of the engineer for each and every
mile of said road. When the superstruc-
ture is completed and ready for oper
alton, the said trustee shall deliver to
said railway bonds of said city to the
amount of $4,000 per mile until the
entire sum of 100000, provided for in
this ordinance, shall be delivered.
Upon the delivery of the bonds by the
i'd trustee to the railway company
he said company shall deliver to
the said trustee certificates of stock in
said railway to the full amount of said
bonds. The subscription, when made
by the city council, shall be upon the
terms and conditions herein set forth,
and Should the said company fail to
comply with said terms and condi-
tions, then and in that event the said
subscription at the option of said city
shall be void.
The election shall be held and con-
Quoted in the manner provided for
under sections 1243 and 1914 of the code
of Virginia, and the question sub
mitted shall be determined under the
provisions of section so, chapter of
the charter of said city.
The sergeant shall cause certificate
copy of this ordinance to be published
in the daily papers Of this city, and
shall post copy thereof at each OF
the voting places for thirty days
previous to the day of the election.
Colonel Penn explained that under
the present assessment he did not
think the city could vote the addi-
tional 800, 600 without exceeding its
10 per cent limit, but he believed
that it could be done under the new
assessment to be made in January.
He also stated that the provision that