The Ripley advertiser. [volume] (Ripley, Miss.) 1843-1897, 1845-05-17
From The M,ssissippion.
col. BONES LETTER AND THE
rLANyEPS BANK pONnS. I,


Las, week, we published letter from the
venerable and energetic representative from
Tishaminco, Col II II Boone, touching The
present condition of the fnnd to pay The Plan.
ter Bank Bonds. We have made enquiry at
the proper department, and are enabled TO state
tina, late commissioners Of the smking fund
have resisted at every step the efforts ot me
estate Commissioner" to get possessin OF the
fund-refusing to surrender up the money in
their hands-and steadily holding on to the
notes and q, her evidences Of debts due The fund.
| The grand Jury of Adams county was invoked,
as our re aders were at the time apprised TO lend
lis aid in Furnishing this Migrant disregard Of
law; bur under the lead of a bank president, tn S
aid was denied by the grand inquest. The
civil proceeding has been pursued with as much
haste as the decays incident to chancery court
would admit Of There is now every prospect
that a. final decree will lie rendered III June
next Notwithstanding the difficulties. the
State commissioner has succeeded ~ capturing
abou, twenty-five thousand dollars OF the iund,
and has handed it over to the 5 ate Treasury, in
The form OF State warrants Ii NAV, we think,
be fairly presumed that there will be in The
+ s ate Treasury 100000 of his fund in State
warrants, by the meeting OF the legislature
II addition TO ,hr, there has been turchlsed
a. some 4,500 acres of land, for the find, in
cases where no hing ete could be had. The
! and is valuable The s ate commissioner oagLt
! probably to have the power of making compto
nlses under proper limitat ons and restrictions
as in many cases. something could be got by
!. way OF ompromise-wheress nothing viii ever
be obtained by due course Of law. We are in
; formed that no compromises are now made
= the State commissioner, not deeming himself
" au hor zed to IF ct ,hem-and that land and
u other properly, is not bought in for the State
e except when II is absolutely necessary to do il,
u TO get any thing at all.
!. We are decidedly of opinion that our friend
). Col. Boone, is correct in the opinion. that al
he stock subscribed for by private indlvldsal
in the Mississippi Rail Road Company is l,abl
:. for The payment OF The Planters Sand Bonds
= By the second section of The "rransfer Act,
~ =, olnd on p ge g. ofthe gets of 1899 Tar SUI
;s sequenlly accepted by The stockholders of In
70 Raj Road bompany)-."all the stock OF prvai
~ individuals in SAID company was pledged 70
;" he payment OF the Planters Bank Bon DIS" an
ne Mississippi Rail Road Company nnderoo
OF to do and perform all that was required OF tn
re I aUters Bank, up 10 Thar time. Such was lh
u sgreement entered into between The State an
he he Rail Road. BY The 9th section the sam
- "he Legislature has full power Ia seize III
ne kan Road and the property, effects and credit
SO OF said company, and Place them in the hands q
n, commissioners, 10 be managed by them, to re
cd mburse The State for any failure on the part q
On the company, TO meet the bonds aud The int
D. est thereon as they fall DUE" In pursuance q
ne this agreement, The "stock in the Planters Ban
e. was transferred BY the Stale 10 the Rail Roa
ne Company; and when the company has failed I
v. pay. both interest and bonds, and the State a,
lempts TO enforce her lien on the stock, and I