West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1897-12-09
FOR PUBLIC IMPROVEMENT.
Bonds or No Bonds, That's the
Question.
Shall Ke Bury or ReSuFfect the
Old Town?

O'A ACNNNahONA T-Cs
1897, for the purpose OF voting on
the issuing of &c. 900 In bonds for
public improvement for the town
Of Kingwood. We have no hesita-
ton in declaring in favor of the
matter as almost an absolute neces-
sity and on tho grounds of public
policy. We have not formed an
opinion hastily, but have been fig
uring on it for years. We have
Investigated the subject thorough
ly and believe we can satisfactorily
answer any question that may be
asked in regard to this very Impor-
tant matter-doubly important as
affecting the whole future prosper.
ity Of the town Of Kingwood. In
the first place, the old town is dead
and has been for some time and
will begin to smell bad before long
If something is not done.
We have either got to have q
funeral or resurrection. Either
bury the old town or resurrect il.
In fact something must be done.
We have talked for years about
public enterprises, but done moth
ing to encourage them. We have
elaborated on what u splendid sum-
mer resort we have and wondered
why more people did not come
here to spend the season, while
making no effort nor Offering any
attractions to induce them to come,
except dark streets and ramshaokl 10
sidewalks, so that they could hard
ly get out to church after dark or
to the postoiIice.
We do not consider that $40. 900
is enough and would favor 800, 900
and had figured on $15,0 900 rs II
compromise and as being about
right and perhaps all that was
necessary, since ID. II. Jackson has
taken up the matter of water works
as private enterprise, and declares
that it is go. Our idea was to
vote on IS, 900 for electric lights,
S5, 900 for sidewalks and SIS, coo for
grading and macadamizlng the
streets. This could have been paid
off in thirty years without raising
the levy cent, and would have
put the whole town up IN first class
condition. But when we examin cd
the Assessors books we found that
the total amount of the property
assessment OF the town would only
permit of about $4,000 in bonds
being Issued. The personal prop
erty Of the town amounts TO $126,-
915 and the realty s136, 147, or a
total of 1868, O62. The law pro-
vldes that bonds can not be issued
for more than five per cent of the
taxable property of a town accord
ing to the last assessment, and five
per cent OF the above amounts to
$13.153.10.
However, the Council is very
conservative and has only decided
on 100000. The bonds bear five
per cent interest, and as they will
be gilt.sdged securities there will
be no trouble about their all being
taken as soon as issued, as there
are several parties wanting them
already. The town can pay on
$500 Of the principal every year.
This would just take twenty years
to pay it OF. The interest on the
whole amount is $500 per year.
This aud the $500 payment on tho
principal amounts to 81, 900, to be
paid the first year. The total rev.
enues Of the town at the present
levy, amounts 10 about 81, 700, leav-
ing 500 TO pay town Sergeant,
who can be employed Tor less than
half Of it, still leaving several hun
drod Tor incidental repairs. OF
course after the streets and walks
have been put up in first class con.
diliou by The expenditure OF this
f1O, 600 but very little money will
be needed every year for improve
mcHts. Besides this the amount
for this purpose will increase every
year from two sources, and without
raising the levy a cent. First the
interest to be paid Oh the bonds
wul decrease $25 every year If
$500 Of the principal ia paid of
every scar, 90 that the interest the
last or twentieth year will only be
82j. or course as that 5screases
IL will leave that much more for
town purposes Then again the
property Of the town will increase
every year, so that the total amount
OF the taxes will increase also with