The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-04-17
JoHrscr TELLS ADVANTAGES TO
WEST vrRarN1A OF SELLING
BONDS WHILE THE MARKET
IS GOOD
wsnld save Big sum TO rAIpayer"
Roads Would Be Built Soonsr-
WORK Would Relieve On.
employment

Work Would Relieve IN
employment,
Wheeling Ir,eil SNnccr.
Whsslns ". Va
Dea- Sir~-Wc Mad S-ea' dear o.
difficulty last IAN IN d'sp"sirS ~ our
FIVE percent -oad bonds at par " oen
We BEGAN ~ gnr!a,l"nS WIN IN" oroH'te
and bankers w were my "a'ttu -
for them Ia. We we're finally ao.c :" sci
them at par. Tn" syndicate 81 "eE'
Virginia bankers that bought tn"m I'M
rrediateI> ~"id ;hcnr 20 New York 'aaN-
rrs A, -. SUSTAINING loss ~ >n"''-
rno no or 80 transaction. - was me
na-ke, ,alac or ms bonds a. max ine
II order - sol these bonds al 1ar
VAS necessary TO- the state road com
MISSION n distribute the disbursement
OF the sll ono, 10" "a received tor same
over period rr three years. NJ the
lime this sale vas made. "" though u
vas a good business deal for the state.
Since the sac 81 these bonds by the
Wes, Nirgrr,a bankers AZ ~ they have
steadily climbed w and ~ un'i! in"F
are now quoted around lA1 and loA' dem
onstrat,ng II" tact tina, Il" one can 'of~
zee what - gong - happen IN c"nn"c-
tlOp with the p|itf VI p''Iiu"'
Gould Be Sold Readily now
II - nv. opinion, however. that our
bond market has aeoU; reavhco ''S
zenith. II may possibly :" -" points
higher but IL thr-e should he q reN'Na'
OF business throughout "ur country TINS
summer which would create demand
for the use Of large amount at money.
the price FOR the use "f money ~"h'o
Immediately so Cp and there would er
4 CORES pond.ng decrease IN tn" maENst
price OF bonds. Possibly N SiA months
from now the marnet for state ROAD
bonds may reach the level "f last 'ah
when our 6NS percent bond was only
worth 9s.
I have taken up the matter 81 SAFE "t
an additional amnur' ~ our HiA'e F"aa
bonds uuh New Cork BROKERS ana ean~-
ers and have assurance from mem tAat
these bonds can readily h" disposed ar
al the present time a. par on basis ~
4rpe- cent interest
This being the case and N We" I"
the uncertainty Of the bond market. the
though, has occurred IN m" that no"
would - a good time - dispose o. ~.
sdGu ional amount 81 our state ro@u
bonds. esrcr,at'r = N" sts:s road com
NtSS:rN CoG- q F1adt' dUA'''''e' 'H"'S -
advantage
~ ur could sell say irn"nc 40
,er-vcar bonds a. - percent. and VS.
rG0cCoNn Twenty-Five year bonds at the
same rats o: in,~rcs; II would mean a
saving 1" the stat" IN tn, decreased rate
Of intcres, alone. ;he sum OF $50.
Cnoo0.
No Tax state Bonds
~
ccndirs before Congress that IS likely
% pass making all state bonds subject
,o TAXATION IF THIS r.'r should become
= ,aU. - would mean tiSr "ur STA" c"ad
bond. would have :" hca- much higher
ra;,-nf lrtnres, than n N" present ,,7's
IN order for tho state ~ -raNSc par for
them and II nc ,hculd ds,ay ISSUING our
road honds ur'I after 'niS law -
passed I would ncan ,ha' "u~ road
bonds would have :" bear no, les nan
percent ,nceres: instead 90 - = "''rt
In order TO realize lar for ~" same
This 'pcreasc n interest m *-"."'"'
rnn on Of bonds would cost tn" SGT"
more than So. "nH m
THIS IS proposition that IN" stat"
from business standpoint caRn"f ar
fcrd - js0ore
TIE voters ~ The state aJthoriZsi t3e
legislature - provide TO- the is='IarcP
G! s-a.r roa5 bonds - an aTnNro' Nc; %
excesd 80 600. m" m. ard lhr la. leS'S-
nature aurrnrrzrd ne governor - issue
and ..'I 81 nn" IN" 80 of Eve percent
road bonds. y stated before ~" COM
Nilsson vas compelled. ~ c-d"r - mana
. sale 90 'nnS~ hords a. par. - agree
trat the Disbursement. ~ -" &l9."nN'
orr m Should b. drsttrnu'sd over
p.rtcd - ,hr.r vsa~s. ,che results "o-
tanned rrorr nc d!shutsc semen 80 'hS
amour among the Hf'y-hfH ccu0'tc5
during the new thrse ,.N-s IS s".nS 80
Grove rery Disappointing to n" c.tiZens
CT tbs state.
Can Bs Readily Handled
The read commission mas an eAc"r-
ttona!ly eftlcltrt organization sufficient
10 take care Of me dlsourse ucn. Of an
sddit onA! amount "C mono! VIII oar
little. Il any ADDITIONAL O crn"ad en-
p4nses II arrangements could oc made
whereby n" commission >"u'd nave saE.
an additional St5.nho o." y" or &.I.'oH.-
10000 to spend during ;he tir'c "nen
The construction eNrenses cc the conn
MISSION would cease entirely.
In addition 20 the large saving 70 tho
state tha, would b. made in dollars and
cents by selling the bonds on the pres
emit market and shortening the time
when the construction expenses OF the
commission would cease entirely. Il
would help very materially /" relieve
the unemployment situation n the state.
which IS becoming very acute. Also the
sale Of these bonds at the preSeT; time
as indicated abovC and the Distribution
OF the money among the hanhS in the
various counties on an equitable pass
would also help 10 relieve tn" financial
strlnSenCy vita which our stat" - CON
tronted and would assist very materiai-
" in putting nre hte into the business
activities throughout the state by max
ing this money available for local needs
CT the comm .sSron
understand that road contractors
n, c.lamcrirS FOR work 10 West VIZ
x1nIs and that 20 difficulty would ee en-
countered bv the commission IN securing
eonpetr.i,~ bids upon all Of the projects
tthe commission would want 70 let 70
contract and that contractors Vpu'd
have no difficulty a: The present 3oioe
IN securing all Of the Labor needed 4;
very reasonable price.
would REQUIRE Extra Session
However before these bonds cou!d %
tssued IL would be necessary for the gov"
ernor 10 have authority from the lesisia-
ture. this. OF course. would require cali
ing an extra session OF this body.
7 appreclate the tac, that governors