Daily new dominion. [volume] (Morgantown, W. Va.) 1897-1906, 1899-06-02
TEN REASONS.
Why Morgan District Should
Vote Aye

Money will be Returned to Us at once.
1t will Add to Our Population-Will
Increase Our Business-WilI Reduce
/ Taxation Instead of Increasing It
What Our Railroad Has Already
Done for Us.
TO the Voters of Morgan District
Much misinformation exists as to
the facts and the wisdom of the pro-
posed railroad subscription to be
voted upon on the 10th Of June next
and having examined the matters
involved with care, and consulted
counsel, | am of opinion and believe
that it would be judicious expen-
i diture Of means to vote the subscrip-
ton for the following, among many
reasons:
1st. The Court order is carefully
drawn so as to secure completion
and operation of the road for the
whole distance of about eleven miles
through the district before half the
sum of $45, 1000 can be paid over, or,
in other words, eleven miles must be
completed before S22,500, or an ay
erage of about $4,000 per mile can
be claimed, while the actual cost OF
building and equipping must be four
or five times that amount.
2nd. The bonds of the district to
be issued will bear only five per cent
interest, or $2,250 per annum, and
be exchanged tor five per cent pre-
| ferred stock tor like amount In
terest on bonds will not begin until
January |, 1900 The district will
be entitled to elect part of the di-
rettors and participate in the man
agement of the railroad
Sd. The taxable property of the
district, under the revaluation of
lands and town lots to be made this
summer under recent act of the
legislature, will certainly exceed 50
100000 and the highest rate of tax
for the first five years will not ex-
coed twelve cents on the hundred
dollars, which will produce $2,400
while the annual interest charge will
amount to only $3.50.
The railroad, as soon as built, will
be subject to this and all other taxes
for it's whole length in Morgan Dis
trict, and with the new enterprises,
buildings, plants, and population
brought by the railroad into the dis
trict, Witt greatly increase the amount
Of taxable property and so reduce
the rate Of taxation.
4th. After the first five years, the
principal of the bonds will fall due
at the rate of about one fifteenth, or
$4,000 per year, so that the whole
will be paid by Jan. l, 1920, but as
the preferred stock, if the road is
prudently managed and completed
to Kingwood and fair share Of bus
mess created, should be paying five
per cent dividends, the dividends
would pay the interest, and the an
creased value of taxable property, if
only $4,000 making $2,500,000 in
all would produce three thousand
| dollars per annum without increas-
/ ing the tax levy above twelve cents
on the one hundred dollars value.
9Th The real estate values in
1887, shortly after the opening of
the Fairmont, Morgantown and
and Pittsburg railroad, were 1892,
725, now are $1,ISS, 265. Personal
property values were then S449,6 52,
now are $6I3,I07 Total valuation
then, 81 ,042,377 total now, 81 sol :
/ 372. With a reassessment OF lands
and lots made this year, that will
! probably be increased to 100000
| or more.
9th The beginning of the real
prosperity of this community dates
from the completion Of the F., Nj. &
p r. r. Population has increased
from 1900 or 1900 then to about 4,
900 now; wealth has very nearly
doubled University attendance has
gone from 1T, the highest number
Of students enrolled in any year be
/ fore 1887 to over 500 students, while
Seneca and Greeemont have been
created and Incorporated. Hundreds
OF handsome houses have been built,
many manufacturing establishments
have been erected, all doing business
giving employment and wages to
nearly all our people. Building lots,
rents. and markets for our mer
chants, farmers, gardeners and milk
man have advappa6 and trivan oocd