West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1899-04-13
RAILROAD BONDS.
The Proposition for Valley District
TO Take SO. 900 In Stnck.

roli IN Valley district. this county
and Morgan district u: Monongalia
county. These people will be
beneitted more than anyone else
by the building Of the road and it
is therefore but natural that they
should have more intercst in the
road than anyone else.
At the session OF county court
held here last week u petition was
presented and signed by qnite a
nHmber Of the citizens Of Valley
asking TO be allowed to vote on
the subject of taking bonds in the
proposed road. The court there
upon passed an order covering
the whole ground, and making
the matter very plain, so that
he who runs may read and fixing
upon the first Saturday in next
month for voting on the question.
The missioners Of tho last
election when appointed to conduct
the voting at the three polls Of the
district, Reedsvillo, Masortown and
Herring and the law requires a
three fifth majority of the vote,
cast in order to ratify the. bond
issue. The order provides that the
district may take $15, 900 in the
bonds Of tho road and that tais
amount shall be preferred stock
and come in ahead Of everything
else as a first lien on tho road and
furthermore that not q dollar is to
be invested except as the road is
built. SO that the district can run
no risk whatever in the matter, for
If the road is not built not a dollar
OF the bonds a be paid over or
Invested. In fact, they can not be
issued till the road is built. The
order provides that as each mile of
the road is built and in running
order in the district, one thousand
dollars Of the bonds are to be issued
and turned over to the railroad,
till the fifteen thousand ia delivered.
There will be something over
eight miles Of the road In Valley
district and as the work will begin
at the Mcrgantown end and come
this way, several miles will be built
and running before it strikes Valley
district and the stock is q first
mortgage on the whole road, not
only on the part in Valley district,
but on all Of it, and rs it is char
tered for a capital stock of
5000, 900, it looks like the
road ought to be good for the dis
trict bonds, anytime. so that as we
said, we do not see how the dis
trict a ran any risk whatever in
voting for these bonds.
or course it will increase the
taxation Of the district, because
it will increase the value of the
property Of the district very large
ly and will bring a lot of capital
and business to the district, that
would otherwise probably never
come without a railroad. The
railroad itself will pay a heavy tax
to the district and in the end it will
be largely the gamer.
The only parties we have found
so far from the district, who were
opposed to the matter, did not un-
dsrstand the question, but seemel
to think they were called upon to
donate that amount to the read
with no assurance that it would
be built, but when they find out
the exact situation they are all in
favor Of it and We insist that every
one read the order Of the court verv
carefully and investigate it thor
oughly before the election comes
of on May 9Th. Don't take any.
body's word for 1T, but study the
proposition yourself. You will
hbd lt on the Inst page Of this
paper and in each weeks issue till
The election. II is also being pub
llshcd in the Journal aud COPIES Of
the order circulated an over the
district, so that all may have a full
chance TO be correctly informed on
this important matter.
MIR. j. Ami Martin, the General
Supt. Of the road, declares that
if the bond issue carries they will
BE- at work on Che road bed IN ten
days. Uo proposes to call meet
iugs a. several points i'm valley
district and get the voters to-
gcthrr and and explain tho whole
matter to them and answer anv
questions they may be asked bv
anyone.
Ia Monougalia county the in
tersst is even greater than ia
Preston and 40 Morgantown a Ne
titiou was circulated recently asking
tho orrrfv ccu-f "a call an rIo,t-