Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-10-31

TON BEFORE FINAL ACTION. .
AT present there is very large amount
of discussion by interested taxpayers
over the probable final provisions of the
proposed city refunding ordinance, and
there is a very strong and growing
sentiment in the direction of an entire
change of programme on the part Of the
committee, and also in favor OF more
careful and extended enquiry in two
or three directions before the measure
is finally sent to Council and thence to
the people. The Importance OF the mat
ter is universally recognized, and while
ii is felt that some months of .hecious
time have already been lost. the pres
ent situation is one where the greater
haste now exercised the less speed IN
the end. The action of the commit
tee at the last meeting in celebrating
from the ordinance the $1,000 OF city
orders, and incorporating a section
having the acquisition Of the Wheeling
or Consumers electrical plant in vleW'
is universally commended and ap-
proved and illustrates the value OF ma
ture thought and sound Judgment on
the mart of two or three members of the
Council Committee. And yet the very
incorporation of the electrical COM
pany provision has raised legal point
which is worth careful investigation.
That point may be thus stated for pub
lie information:
AS is well known, under the legisla-
tive act, the city, waving the contrary
views of some gentlemen whose opin-
ions are not to be altogether despised,
is bound to acquire the property of the
old Wheeling Electrical Company be-
fore the municipality can engage in
the commercial selling Of incandescent
lights, the price to be paid to be fixed
by arbitrator in the absence of other
agreement The question now is: How
is this obligation on the part of the
city affected by the absorption of the
Wheeling Electrical Company by the
Consumers Company? Does the new
company succeed to this right of the
old? If so, does the right extend only
as long as the franchise Of the Wheel
ing Company would have extended? Or
does it continue during the legal life
of the new Company? Originally hav-
ing to deal with the Wheeling Com
pany, does the city now have to deal
with the Consumers, and if SO, to
what extent? The point embraced in
these several interrogatories has been
very widely discussed during the past
few days, and appears to have suffi-
Gent substance for an investigation
and report by the City Solicitor, that
the Committee may be informed fully
before further action. It is further
held that, unless this point can be con-
clusively determined, the ordinance
should be SO framed, in this particular,
as to provide not only more money
than the proposed $50 600, but give the
city the power to buy, lease or erect
and maintain an incandescent plant so
as to cover all the possible features of
the case.
Another point as to the ordinance:
1t will be remembered that Messrs. H.
NJ. Russell and the City Solicitor agreed
that the loan proposed must be ten
thirty-four-that is, that no bonds
could be retired until ten years after
date, and this led to the creation of
a sinking fund provision. With all pos
slble and due respect to the city's legal
advisors in this matter, it may be said
that eminent local talent reach a diff
ferent conclusion, and hold that the
city may commence the redemption of
an issue of bonds one year after date,
as was done in the case of the electric
light loan. This feature of the ordi-
nance as drawn is a very unpopular
one, and it might, perhaps, be well to
give the subject some further consid-
Grafton.
Another point under popular discus
sion may be embraced in this state
ment; There is strong sentiment If
bonds cannot be redeemed for ten
years, and a special tax must be laid
during that time for sinking fund, in
favor of eliminating everything from
the ordinance save the refunding Of
the compromise loan of $S2 900 and the
electric light provision, continuing the
payment of the other bonded debt as
ii becomes due, as in the past; and on
this taxpayers are asking: Why not
levy a special tax in 1900 sufficient to
pay off the whole of the compromise
loan falling due next year, stop all in
terest on it and be done with it for
ever, and argue that such a course
would be far cheaper in the end. 1t
would take special tax of about 35c
to produce $4,000 in one year, and
the objection to such plan would be
the excessive burden on the people, as
the entire city tax would be jumped