Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-05-08

The Finance Committee of the
Board of County Commissioners met
last night to discuss the proposed or
dinance to provide for a subscription
to the capital stock of the UniontOwn,
Waynesburg & West Virginia railroad
company. Andrew Hare, chairman. of
the committee, was not present. Frank
W. Nesbitt represented the prosecut-
ing attorney, and Gen. Alfred CaldWeli
and Mr.. ProtZman appeared Tor the
railroad company. The matter was
discussed in an informal way, and the
committee decided upon several IN
structions to the attorneys IN their
drafting of the ordinance, leaving GER
tain blank provisions to be supplied
by the Board at its special meeting
Wednesday morning.
The discussion was first upon say-
eral technical points, which called for
the reading of previous ordinances by
Clerk Moffat, and reference to statu-
tory provisions by the attorneys.
Mr. Stanke announced during the
evening that the amount asked was TOO
large, and that he did not favor sub
scription of half million Mr.. Gut
man was inclined to take the same
view of the matter and stated that IN
his opinion 100000 was not proper
tionate subscription for Ohio county,
inasmuch as but six or seven miles of
the proposed railway will be in this
county. Mr. Protzman replied that if
Ohio county subscribed her proportion
ate share, it would be two or three mill
lions, his point being that the num-
- Of troo c110111d NOT do
termine the amount of subscription,
but the value of the road to the COM
munity should determine it.
Continuing Mr.. Protzman intimated
that the completion and operation of
the proposed road would be but the
entering wedge in a series of enter
prises which would mean a substan-
tial benefit to Wheeling, but which
he was not at liberty to disclose. He
said Mr.. Jutte's original plan was to
go through Washington, Pa, crossing
the river at East Liverpool, and con-
tinuing on the old canal bed to New
Lisbon Mr. Protzman had gone over
the Wheeling route two years ago, and
succeeded in so impressing Mr. lutte
with it's superior advantages that he
abandoned his original plans. They
believed that Wheeling wanted the
road. They knew it meant more for
the city than any one thing that had
happened in it's history. They under
stood that the county was ready to do
it's share whenever the right PROPOSE
ton was made by responsible parties.
There was some discussion about
the manner in which the subscription
should be paid. Mr.. McGregor said
the Register editorial stated his posi-
ton very well. He thought the coun-
ty should dispose of its P, w. & Ky.
stock, and devote the 100000 or more
derived therefrom to retiring the out
standing Terminal loan bonds, or to
apply the money to payment upon the
proposed stock subscription.
The objection was made that 1t
would be poor business policy to dis
pose of stock which is paying twelve
per cent dividend, and Mr.. McGregor
said this stock would not need to be
sold until it was time to make the last
payment upon the county's subscrip-
ton. After a lengthy discussion, it
was decided to allow the full Board to
deal with this question.
The committee instructed the attor-
neys to prepare an ordinance to sub
nit to the voters, providing for a sub
scription of 100000, and an issue of
1870 bonds for that amount bearing
interest at the rate of 31a per cent.
Members of the committee were of
opinion that there would not only be
no difficulty in floating the bonds, but
that they could be disposed of at
premium.