Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1895-06-08

only reasonable way out Of it, and tae
sooner the city recognized the sltuatiSh
The better. IF this IS done, SAID ne
I've VIII be out of trouble for ten OF
fifteen years to come. II we don't 90
n we will not only be stuck this year,
Int will be worse of next year, ana
still worse the next. l think we ought
n reDort this recommendation to CouA-
ell next Tuesday night, and let II au-
thorige a city election on the question
of $50. 900 Of bonds Immediately.
"yes." said Dr.. Stathers, and then
wa can ask the Legislature for autnor-
itv to levy a new tax for street Hsn'-
ing" :, so,.o~
Mr.. Waterh0use was rather IN avn
Of cutting down expenses as lar d. PO'-
sible but no one stood with him.
Mr.. Robinson again addressed tne
Committee, saying a resolution ousAO
~ he drawn TO the effect that the Com
uittee has gone over the estimates
oarefpjrv. and would have to have q
loan Of $50 GOO TO make both ends meet
.And." he added. we can tell them
that ftbe loan don't carry we will have
TO cut Off the police and the eiectrlc
Ii~b+s for the balance Of the year, and
c1t down the fire department. We are
paying of St05000, and even Il S2VVyO
rf bonds are voted, the debt VIII De esq
a+ the end Of the year than 1t IS now l
see no ether way out OF It,
something being said about the
Health estimate Of S10520, Dr.. Stathers
said that sum would have to be In
creased before the year was out, On ac-
count Of smallpox.
The fire department was then put in,
IS reported.
Fire ............. ....................Sf35 SIS 43
Cemeteries ........... .''-'''''''''' 4''-' 0'
This department occasioned a con-
siderable discussion. The Board asked
for s10.520. The Committee. recogniz-
ing the situation, increased the amount
to $4,000
Contingencies was cut from $4,000
to $4,000 .oo..
This made q total so far Of $ll2,SS6.-
IS. and adding the ten cent levy and
p. p. w. contingent fund, the grand
total was 1857 703.49.
The account then stood this way:
Estimated expenditures ...........St3l,l@ ~
Estimated receipts ............... 4la,5V 90
Deficit ................. ..'''''....$ 4''4'- 90
This deficit The Committee viii rec
ommend be met by a loan OF $4,000,
leaving a. small surplus. Mr.. Robin
son suggested that It would be good
policy TO call the proposed loan q re-
dempuon loan, on the idea that the pro-
ceeds were to be used for redemption
Of bonds falling due this year, and re-
firing the idea that any part OF 1t was
to go for general city purposes into the
background. THIS was endorsed by the
majority of the Committee as being
clever. but Just about this time Mr.
Richards created some connection by
enGuiring how the payment Of interest
and principal was to be provided for
If tho city couldn't pay comfortably the
bonds now out Mr. Robinson thought
there would be no trouble about that,
once the city got squarely on its feet,
with all the extraordinary items or eE-
pense provided for.
Or. Stathers said that under the por-
visions Of the loans previously made,
The old debts were coming due faster
than the city could meet them. This
year 100000 fell due, and there was
only $4,000 to meet it, after all The De-
parCmental estimates had been pro-
yidcd for.
Mr Robinson said the city could is
sue bonds to the total amount OF $780,
900. while there was actually but S704,-
zoo outstanding
NJ. Richards-The city has not OK
hausted her power to make loans but
she has exhausted her ability TO pay
them.
Mr. Robinson did not agree to this.
Instead Of being in bad shape said
he. we are in elegant shape. Here we
are to pay 100000 Of debts, and only
borrowing $50 .000 to do it with. That
is good fnanciering. and our credit IS
an right. for we already have two doz-
en- offers of money on bonds in advances
of a settlement Of the question. We
are not in bad shape. Il may look bad
at first sight looked at It that way
myself at first. but I don't now. The
Droposition to borrow $4,000. under the.
circumstances, is an right And I want
TO say right here, that this talk about
the electric light plant being response
bic for this trouble is all wrong. The
plant was a good investment, and no