The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-03-15

ed full information as to the several
departments which are the creature OF
the people, regret to record the fact
that although have applied to. both the
secretary and, president OF the water
board for some informa ton have fall
ed to elicit response. Being heartily
In accord with the provisions for In
creased water supply and having the
highest personal regard for the gentle
men composing the water board, nev-
.ertheless consider that the citizens, are
entitled to a full and correct UNDER
standing Of the conduct Of the public
| affairs, and In this connection would
suggest that the board be requested to
make 10 council a quarterly report,
showing the progress Of It's work and
giving general outline OF It's inten-
tons, expectations and Indebtedness
that the Taxpayer may be fully ad-
vsed.
GRANTING OF LICENSES.
I would recommend the exercise OF
more care and more rigid adherence
to the requirements OF the ordinance in
relation to the granting OF liquor IL
cefses. While the adoption Of such Il
policy may reduce the revenues Of the
city from this source am sure It will
inure to the public good BY the eradica-
tlon OF the element who under the guise
or city protection prey upon the virtue
Of the youth OF the city and by the
adoption Of methods In entire violation
OF their oath. bond and the law, have
innugucated 4 state Of affairs which
are blot to the fair name OF our city.
as we'll as a positive menace to the
health OF future generations.
REFUNDING CITY LOAN.
AS purely business proposition I
have taken UP the present state OF the
bonded Indebtedness OF the city and find
the average rate Of interest Of all loans
10 be about 5!a per cent; this on an
approximate Indebtedness OF 100000.
amounts TO s27 800 This rate OF interest
under existing conditions considering
the cheap rate obtaining for money,
the good assets OF the city and her flu
ture opportunities for revenue when
the water works Improvements shall
have been paid, is much too high, and
am firmly OF the opinion that an en-
tire refund OF the present Indebtedness
OF the city can be effected at the present
time upon L basis OF not to exceed AZ
per cent. l am intrenched in this opin-
ION By the great sums OF money seeking
Investment. the desirabilty OF such IL
loan as the city would desire TO make
and the present low rates at which
short time commercial loans are made
| am however equally certain that the
citizens OF Wheeling would not author
ize a loan for other purposes than the
funding of the present Indebtedness
and that only upon a strictly business
basis. Estimating that the city would
desire to refund the entire 100000 and
that It could be effected at n rate Of
81 per cent or an annual saving 10 the
taxpayers Of $4,000, neither would |
advocate, nor do / believe the voters
would sanction any loan ordinance
which did not provide for the retire
ment of the new issue OF bonds COM
mencing with the first year. 4 loan
10 run twenty-five years with privilege
OF redemption after the first ycar would
/ entail upon the city an annual redemp-
I tion; payment OF only $4,000. n sum
! $4,000 less than the city has been pay
Ing. The placing Of the entire bonded
indebtedness OF the city in one loan Is
an admirable feature aside from the
saving in interest to the taxpayers.
/ recommend that the finance COM
.mittte Investigate as to the feasibility
Of such loan and report 10 next meeting
of council.
Very respectfully submitted.
ANDREW T. SWEENEY.
Mayor