The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1893-09-28

Office, in special called session for tho
purpose of taking hold Of the present
financial middle of the city. Tho fol-
lowing lnembors were present: Chair-
man Maxwell, Richards. Weidebusch,
Cruise, Grimm. Brock.
After an hours discussion, all of
which won't for naught it was asccr-
tanned that tho condition Of affairs was
such that the ordinance as presented
Tuesday night by tho finance commit
tee was tho only possible course that
could be pursued, and this course will
be taken. A call for tho meeting of
council tonight was nado ont by menu
hers ofthe finance committee, when the
ordinance will be passed.
Mr.. Richards addressed the COM
mittee. lie said his idea was that tho
interest for the ponds coming due on
the first must be provided for. Then
tho finance committee can go to work
and find out tho best means TO meet
the financial emergency. 1t would DO
highly improper TO countonance such
compromises Us had been suggested by
:nolnbers OF tho committee; no business
man in his private affairs would toler-
alto such proposition. He wa! in
favor OF going at this condition IN
business like manner. He also GALE
thc attention OF the committee to what
tho outside world would think OF some
Of these compromises.
TIE POSITION OF TIE COMMITTEE.
Mr.. Maxwell stated tho position of
committee, as expressed in the Ordi-
nance sent in to council at the meeting
Tuesday evening. At that meeting OF
tho committee there had been four
present, and one other member had
agreed to abide by what had been done.
The action taken provides for tho inl-
mediate payment Of the interest, and
tho next proposition was to provide inn
mediately for ways and means to pro-
wont tho sumo conditions financially
next wear. Mr.. Richards resolution in
the first branch OF council was carrying
out tho position Of the committee. sHe
said that possibly something bettor
could have been accomplished before,
but tho condition now before the COM
mittee must BIO confronted and met, and
for this purpose the finance committee
had reported the ordinance. He spoke
OF tho way the report had been received
in the second branch by the members
OF the finance committee who had not
been present at tho meeting OF the COM
mittee Monday evening. lie was OF tho
opinion that the committee had not
been treated right.
Mr.. Gruse next spoke. He referred
to the fact that there was no provision
made for taking care OF the bonds held
by those who had not agreed to carry
them over another year. Tho report Of
tho committee had been very indeiIinate
in that respect.
SURPRISED THE COMMITTEE.
Mr.. Maxwell here surprised some OF
the members of tho committee by say
ing that such action as outlined by the
committee must be taken as the bonds
had already been advertised as called in
by the commissioners, and that they
would not bear interest after the first
proximo.
Mr.. Cruise expressed surprise, and
said II such were tho case there would
be no further use in talking about the
matter. He thought the chairman OF
the committee should have informed
council OF this fact at the meeting OF
council the night before. There was
considerable discussion between these
two gentlemen about this phase OF tho
matter.
Mr.. Cruise said that in the condition
as presented now the committee must
20 ahead on the line OF Mr.. Richards
resolution, made the night before at tho
meeting OF council. Mr.. Maxwell re-
marked that tho interest must be paid
on Saturday, and that an effort could
be made to have the bondholders who
were willing to hold them buy up the
others. Mr.. Richards said that the
committee must not only provide for
the interest due on Saturday but also
for other bonds and other matters. The
committee should ut once get tho
finances Of the city in better shape
than they are at present
Mr.. RICHARD MOVES.
Hc moved that the report previously
made to council be sent back to that
body, and that the matter OF providing
for tho payment of other bonds be donc
out OF tho contingent fund, either inter
est or principal, and that the chairman
see the holders OF bonds; that 1t is the
sense OF the COMMITTEES that thetinances
OF the city need overhaullng, and that
the committee proceed at once to in
vestigato tho various departments OF
the city government and see what can
be done in tho way OF economy.
Il was stated that the outside bonds,
about which It was uncertain whether
the holders would hold them over for
another year, amounted to 5000.
President Dunlevy of the gas board
who was present, was Intercepted by
ACKNOWLEDGEMENT Hc said one item
that could be cut oGWa the largo nun.
ber Of free consumers OF gus. Council
was entirely responsible for the large
number OF gas "doad heads" When
asked whether the gus board could
meet both ends II the bond loan was
taken oil Its back, he replied that he
did not think so, as the eSpense.o rum
ming the city electric light plant would
still remain, and this amounted to
$4,000 yearly.
ANOTHER RESOLUTION.
Mr.. Richards at this point presented
resolution in writing to the same
effect as his motion fow minutes boz
forc. Mr.. Gruso as u substitute moved
that tho ordinance reported 10 council
by the committee DO simply rcforred
back to that body. III support OF his
motion Mr.. Cruise said that tho Rich
ards resolution brings out nothing new.