Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-09-27

it on. I make no charges. But let's
| meet the situation boldly. Let US act
| as we would II 1t was our individual al
fair. Do as you would in your own pri-
vate business affairs. To-day this city
is virtually insolvent, and this Council
is sinking its duty If it does not meet
the issue. An honest man would go to
his creditors and say 4 haven't money
enough TO pay you! Ought
we not to do the same thing,
aud take hold and right
the thing now? l feel that we ought
not to pass this ordinance, but call the
Finance Committee and the Gas Board
and the Superintendent OF the gas
works and the City Solicitor to meet 10
joint session, and see what caa be done.
That course is the only one which Is
fair to the city's creditors, to the tax
payers, to the consumers OF gas and to
ourselves. I speak not only as repre-
sentative OF the Sixth ward, but as a
tax payer. want to meet It sQuarely,
and at once. l move, Mr.. President, TO
refer this matter to the Finance Com
mittee, the Gas Board, and Superin-
tendent of the gas works, and the City
Solicitor, 10 meet tomorrow evening,
and TO report TO a session OF Council to
be held Thursday night.
Mr.. MAXwELL's REPLY.
Mr.. Maxwell-Mr. President.
The President-Mr. Maxwell.
Mr.. MAXWELL wish to make some
remarks In reply to Mr.. Cruise.
The President-There is no second to
the resolution, and unless the ordinance
is to 90 on
Mr.. Fraw-I second the motion.
Mr.. MAXWELL suppose there will be
no opposition to my making a few re-
marks on the same line as those of Mr..
Cruise.
Mr.. Gruse-I only spoke by leave, as
the ordinance was not upon its second
reading.
The President-Mr. Maxwell may
proceed.
Mr.. MAXWELL fully agree with Mr..
Cruise as to the situation, but as the in
terest on the bonds falls due October
1st, and as the holders, l believe, will
all agree TO carry them over for an
other year, thereby allowing the city
time to recover and meet its obliga-
tions, l don't see why that course
should not be taken. We have expended
the balance of the stone bridge money.
II it was good policy to take $4,000 of
that money, is was equally good policy
to take the remaining $4,000, particu'
larly so as the interest Is due, and the
holders Of the bonds want their money.
1 agree that the finances OF the city are
not in good condition, by any means,
but do not agree that the city Is in
solvent l think it is perfectly solvent
and able to pay. As far as special
tax IS concerned I can't plainly SEQ how
we can have bills made ont and levy
made for the present emergency. The
force OF the City Collector can't do it.
On the other hand, after January LIST,
the Finance Committe can come to-
gether, and il we have power TO levy
a special tax for the payment OF these
bonds we can make report to Coun-
ell, and on authority from Council can
make a sufficient levy to meet the obli-
CATION and also to relieve the consum-
ers OF gas OF the burden OF carrying the
electric light plant. That is burden
from which they deserve release, and |
am willing to resort TO any lawful rem
edy TO take it of. But l am not in
favor of defaulting upon our interest.
II the holders Of the bonds are willing
to carry them for another year, / think
we ought to do it. To be snre, 1t will
involve some eXpense-there will be
81. 800 Of additional cost for interest, but
still | think that course is best.
Mr.. Gruse-While I think Mr.. Max
we'll is honest in making his PROPOSE
ton, yet his argument Is not, l think,
the one to be followed. prefer to take
this thing up now and dispose Of 1t,
rather than let il 60 over until next
year, when the burden it will be a
double one. Let's meet IL now. 1t Is
true you have verbal agreement with
one Of the holders OF the bonds. But
what assurance have we from the
others? What assurance have we that
they will not go into Court and have a
special levy ordered? You have none.
Therefore, say you can't do better
than TO take the thing up at once. Why,
single objection to this ordinance
would put il away!
Mr.. MAXWELL don't anticipate any
thing of that sort.
Mr.. Gruse-I don't know. | am not
so sure that l won't do it myself.
Mr.. Maxwell-That is q privilege
every member has.
Mr.. Gruse-And being conscientious
about my stand, l think the taxpayers
would endorse me. Under my resou-
ton the Committee can meet tomorrow
and Council on Thursday, and you may
find a way out OF the trouble and feel
better over IL.
Mr.. MAXWELL spoke to the holder
of SIS, COO OF the bonds due and he was
willing to carry them over 10 next year
I asked a representative Of gentleman
il the holders Of the other bonds were
not satisfied 10 carry them, II he would
furnish the means TO do so. he thought
his principal would, but would have
10 see MIN. I regret very much
to see anything done which may cause
default on the interest. l
agree with q good many points In Mr..
Gruse's remarks, but am afraid. 1t
may come out all right, and l will be
glad If il does, II that be the will OF
Council. But we have quorum to-
night, and We may not have quorum
another time; and we run q risk which
fear will cause a default on our inter
est
Mr.. Hamilton-There has been talk
about balance OF stone bridge money.
What is meant By il? Is it money which
Mr.. Gruse-It may not be needed, and
still It may. II is an uncertainty; we
have no assurance about 1t. 1t IS pos
sible that the Courts may settle that
matter this Year-no one can tell.