Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-11-15

further iprovements.
The city owes $525 600. This money
can be secured for per cent. He
thought the bonds could be sold for a
premium. He took it that if he could
borrow SIC for per cent to pay of a
debt on which he is now paying per
cent, it would be wise plan.
Council made provision for redemp-
ton Of outstanding bonds, by ordinance,
at any time after the expiration of a
certain period. II the city can succeed
in disposing of the bonds at per cent,
he thought no person would say that it
was not a good thing. The debt will be
the same in ten years as now. What is
gained? He contended that the city will
be in better position to pay. Mr.. Hork-
heimer here depressed from his argu-
ment in order to tell about the inability
to start necessary improvements, or to
complete improvements that have been
started. He disclaimed any intention to
indulge in demagoguery, and promised
that workmen will receive pay for every
days work they perform. He recited
the story of the troubles which faced
the finance committee Of Council when
it met and decided to cut down appro-
priations. He admitted that public af-
fairs are not looked after as we'll as per-
sonal matters, but ne asserted that no
money has been stolen. With reference
to the charge that the matter is being
rushed through, he said the cOnsidera-
ton of the matter was begun last April.
Mr.. Horkhe.mer argued that improve
ments witch it will be possible to make
under the refunding scheme, will en-
nance the value of property and thereby
increase tax receipts. The city will be
better able in ten years to pay SCI goo
than to pay $27, 900 year now, because
of enhanced values. Mr.. Horkheimer
took up the ordinance by sections and
explained and defended eachh.
Mr.. ALL asked Mr.. Horkheimer
where he got the saving of $1,000 the
first year. Mr.. Horkheimer replied
evasively: you'll have to sit down
and figure it." Mr.. Tighe asked if the
receipts of the city are inadequate to
meet expenses, and Mr.. Horkheimer
answered in the affirmative.
Mr.. Frank Cruise closed the discus
sion, and promised that he would not
consume much time, as it was nearly
five o'clock when he commenced. He
commended the organization for it's
course in arranging for the discussion,
stating that the workingman is most
directly interested in the matter. He
admitted that he had not given the
matter the consideration it deserves.
He thought the ordinance contained
the proper safeguards, but there were
things in it of which he did not APP
prove.
To refund debt at a lesser rate of
interest is commendable at all times
Mr.. Cruise enumerated the loans and
the rates of interest on each. He said
the maturity of the loans should be
first considered. The first coming due
is the compromise loan in 1901.
The refunding scheme involves an
increase in the bonded debt. Out
standing orders have been spoken of.
Where is the restraining ordinance?
1t was adopted for the purpose OF pre-
venting these over-checks, and the evil
could not exist if its provisions were
adhered to- Provision is made for the
paying of $4,000 outstanding indebt-
edness upon the Main street stone
bridge. This has been provided for
in the annual appropriations, and now
it is to be placed in the city's debt;
yet they say there is no increase IN
the bonded Indebtedness.
The fact is, there is need of retrench-
ment They say they could not cut
down the different departments, but
that is not the place to begin. The
start should be made in the little
etceteras, which amount to great
| deal in the aggregate. The Legisla-
| ture gave the city the ten cent levy.
! The money has been spent on streets
not entitled to improvements, while
| the outskirts have been neglected.
If it is proposed to give the city a
good thing, the old debt should not
only be refunded, but the improve
ments to which certain sections of the
city are entitled, should be provided
| for in the form of an additional loan.
| When Mr.. Cruise concluded, he and
Mr.. Chew became engaged in con-
troversy. during which Mr.. Cruise as
serted that there was no proof, not
even a promise, that there would be a
retrenchment, outside of saving in
interest. Mr.. Chew asked where the
! saving could be made in any depart
ment, and Mr. Cruise replied that three
responsible men could conduct the az
| fairs OF the Guy Ill SUCH a HidHIcl
that in the time required for the ex-
piration Of the refunding loan, there
would not be a cent of the citys debt
remaining. This reply was received
with general applause among the dele
| gates.
| Mr.. Horkheimer asked for few
minutes, during which he accused Mr..
Cruise of charging the present Council
with extravaganza which existed dur
ing fifteen years before. Now you are
| throwing mud replied Mr.. Cruise.
1t was about $3.50 o'clock when the
debate ended, and it was apparent that
the meeting of the Assembly would
/ have to be postponed. Chairman
| Bauer. on behalf Of the Assembly, and
particularly the Legislative Commit
| tee. extended thanks to the gentlemen
who discussed the matter before the
| Assembly. The Assembly was then
| called to order, and a recess taken
| until 2 o'clock next Sunday afternoon.