Frostburg mining journal. [volume] (Frostburg, Md.) 1871-1913, 1890-05-17


is ample for future development of the town
for many years to come.
1t hopes after presenting this report your
Honorable Body will proceed as soon as pos
sible to issue the water Bonds that it may
commence operations in earnest, trusting that
its estimates will be enough without requir
ing it to apply for another grant.
ALEXANDER C. HAvERsrIcK,
Secretary of Water Board.
Mayor ClICe asked Mr.. Haverstick whether
the Board wanted Council to place all of the
$4,000 on the market at once. 1--WE want to
provide the money as fast as you want it, but
desire to save interest also"
Mr.. Haverstick responded III effect that the
Board was in hurry to get to work, and
while nothing unreasonable was expected,
they desired the needed cooperation of the
Council to carry out the wishes of the people.
The Mayor explained the difference between
a high and low rate of interest as these con
ditions affect premiums.
Mr. Dewitt moved that $4O,0o0 he issued,
and that $4,000 be placed on the market
early as practicable. Carried.
1t was agreed, too, that the bonds be issued
in denominations of $l00 1900, $500, 800
and $500
Mr. Michael explained the difference be
tween registered and coupon bonds. The
former if lost can be replaced; the latter
not.
Moyo,.-"rhe coupon bond is the kind we
want then. Wouldn't care if the holders
lost them ALL Laughter.
About this stage of the proceedings Mr.
Jandorf asked if the JOURNAL could offer the
Council some suggestions as to the proper
thing to do i'll the bond matter, But the
Council was in no humor to have it under
stood that it was not able to meet the emer-
gency. 1t had suffered during the week from
criticisms of last years exploit i'll paying out
$432 more money than it had to spend and it
was somewhat offended at the outside i'm
parchment of its abilities. I'VE are the
Itelligcnt people entirele," used to say the
late Captain Nelson Beal. So that Mr.. Jan.
DORIS Difference to the JOURNAL was ignored
by first one and then another arising to vent
some airy nothing. But the gentlemen had
their labor for their reward. AT that juncture
there was nothing to say; besides, with due
thanks to Mr.. Jandorf for his courtesy, the
JOURNAL pleads in a higher court-one that
is not afraid of Il possibly good suggestion
because democrat Tor, on the other hand, n
republican, might offer it. The JOURNAL
however, might have forced itself on the
Councils attention. 1t might have told
the gentlemen alarmed by Mr.. Jandorf'
courtesy that the Water Act over which
they now think they have complete mas
terry and which they understand better
than those who made 1.-THE Water Act is
almost entirely the product of three democrats,
two of whom worked for nothing, and the
other, including a day careful and skillfut
labor performed by his wife, was paid the
heggary sum of five dollars Had this work,
or even the naked proposition to erect town
water works, been left to our very selfsui
tiuient and very jealous city fathers ii is safe
to affirm we would still be the serts of the
Frostburg water company. But the Council,
which ought to have led, had almost to be
dragged into the enterprise And HOW that
they have something unearned by any pub
lie spirit or intelligence of their own, they
are awtully afraid the works will turn ont a
monument to the memory of those who in
stigated and those who constructed and per
legal existence. But however much dis
position of this sort is shown INSIDE. where
they enjoy full control the JOURNAL will have
its say in "the parliament which sits out OF
doors.
Mr. Michael moved the issue of coupon
bonds also that the rate of interest he fixed
at ~ per cent. Carried.
40 ,,iuttpr # order pI rptInuI,tiou bI bpu1l
took up a whole raft of useless talk, ending
in motion by Mr.. Iimmerly to have
finance committee confer with the attorney
on that part of the subject The motion was
carried
The Mayor made bad break when he,
addressing the JorRHAL, said
II suppose you will print the bonds fol
nothing.
20, of course, answered the great paper
I'VE are accustomed To-"
But before the sentence could be completed
somebody who did not want the matter OF
| printing discussed went of on a tangent about
something else. So that everything concern
ing getting the bonds is provided for except
getting them
| This brings to mind one of the reasons why
| the Journal did not want to be either &
| Councilman or member of the Water Board
| moral, if not legal prohibition exists against
members of such bodies becoming employee,
or business creditors of themselves. Hence
as such we could not bid, or become interest
ed, not even indirectly, in the printing of the
bonds, or any other printing glance back
ward at the action Of a grand jury last veal