Richmond daily times. [volume] (Richmond [Va.]) 1850-1853, 1852-04-21


Mr.. Pc ce opposed ne motion to strike ors-
Ire House, by decided vote, refused to strike out
WILLIAMSBURG
Fredericksburg YVES agreed to.
Charlottesville, No. 65h District. A.; eed to.
No. 7-Wiachester was recommended b. tie
committee rs the place ofmeeting of the 7tl Dis
tiict Woodstock, in Shenandoah, was movede7
substitute. Not adopted.
Drring the pending of the 6th district, the
House acknowledges 81, noes Sc.
CONTRACT WITH SELDEN, WITHERS
& co.
We laid before our readers few DAYS ago tee
statement of the Finance Committee, relative to
the contract entered into by Gov. Floyd, in behalf
the Board of Public Works, with Seltien, With
ers-& Co., of Washington city. AS this
fsnow undergoing investigation and discussion
,sle Legislature, we publish the contract for the
Information of our readers
This agreement. entered into this. 18th dav of
April 1851, between John B. Floyd, the governor
of the commonwealth of Virginia, member, presi-
dent and agent of the Board public works, acting
Tor end under authority of ssid board of the
first part, and William Selden, joan Withers Ro-
L
the firm Of Selden, Withers & Co. of the sec
ond par5-witnesseth as follows:
Inc said joan Il. Floyd acting as sforesaid, has
made, constituted and appointed, and by these
presents doth make, constitute aud appoint Sell
oen, Withers & Co. OF the city Of Washington,
d. c.. agents ior ne state Of Virginia and for the
Board of public WORKS, to sell aad dispose Of for
the state Virginia and the Board of public works.
one milton ofthe coupon bonds about TO be issued
!,vyc.
ded the agents sail be able to sell those bonds at
par; and also 10 sell aud dispose Of for the same
purpose, three otner millions Of such bonds pro-
vided two per cent. premium can be gotten TO-.
them. And the said John B. Floyd, acting rs
a-oresa d. agrees that, soon the coupon bonds
aforesaid shall have have been issued, TIE Board
of public works shall fro.n time to time, as sales
may require place sufficient bonds and coup ons in
he possession of the said Selden, Withers & Co.
to enable those agents to discharge the coming Ii
abilities Of Virginia as the same shall mature.
But, although the said Selden, Wthers & Co.
promise and covenant to and with the said Floyd
his successors in Office 20 use their utmost en-
deavors to effect sales of tle four millions Of cou-
pom bonds upon che terms limited, yet they are not
to be held liable nor bound ia any way to sell the
bonds upon chose terms. They only promise to
raise the money upon those &c. as ifthey cen, and
10 charge nothingif they cannot.
Anu tue S3lu L iOyu hereby cOVenonIS 1Of NM
sell, MS successors in office, and for the state Of
Virg ala, that the said Selden, Withers 81 Co.
shai, retain for their efforts and expenses, in nelo-
Eating for the commonwealth Of Virginia and for
the Board OF public works whatever they shall
sell the said bonds and coupons for above the prices
hereipbefore stated; that is to say. the said Sell
den, Withers & Co. may retain, as contingent
compensation foI sle services, whatever they can
obtain above pa the first three pllion and all
n II.
bonds ard copDons. Ga these terms the said Sci
den, Wit5eis & Co. promise and covenant with
the said Floyd and his successors in office, that
they VII well and truly account for, and pay ov-
er to he Board of public works, or to such agent
az the STATE of Virginia SHALL select tie receive the
money, the proceeds OF the SALE minus the contin-
gert compensation which may &C rue to the said
Seden, Wir'1ers q Co. as before stated
And the said Seden, Withers C Co engage
that they Will so arrange the payments which the
purchasers may be required TO me Re, ns that neith-
e. sae state Of Virg ala the Boa~d OF public
works shall be asked to pay interest until the mo-
ney be furnished to the agelis Aforesaid. And
taat when SO furnished 10 the said Selden, With
ers q Co., they will promptly notify the Board of
public works. or its officers or the same.
To enable the said Se'den, Withers Il Co. to
redeem, in p oper time, tie coupons of interest
rs the same sail become due, the sad John B.
and fof the State of Virgu hereby covenants to
and with the said Selden, Witoers & Co., and
with the spccer sors of them, and the successors
OF such survivors, that the State of Virg ia shall
at least one mouth during every SIX mo1fas, be-
fore coupons shall become due, place tosae cred
it of Selden, Withers & Co., 10 so;,7e pfope:.
bank in tine city of Richmo-d, specie fumes
enough to enable the ssid Selden Wi5lers &
Co. to pay the COUPONS promptly ei.4,er in the
oifr .1t ,ao.t-, Of Nor V,.J- ~,
any other place or places which the holders of the
bonds and the said Selden. Witaers & Co., shall
have agreed And the light TO pay every
ha'f year, drI.ng the periods that he bonds have
to run, the said coupons of interest are hereby
cured to the said Seden, Withers & Co., 10 their
survivors AID successors in business, unless mis-
conduct il the Agency shall foi cit the Ii sht.
And the sa d Selden, Witheis & Co. mast be
duly notified, by the Board OF public works, or
some duly author ed agent of Virginia, OF the
periods Of tie yer w!ea the state will require
the money, and Of the precise anou 1T that will
be needed a. each period
As i is doubtful whether any premium be
gotten on the sale of the coupon bonds of the
State of Virginia and if none can be gotten. the
state might scder from an inablity to dispose Of
her hoods it's agreed that the said JohaB Floyd
ald any others whom he shall select to at end
him, shall visit Baltimore, Phadelphia, and New
Yels, and io&o.1n himself as July as practicable
aoopt the present state and iula'e prosperity
the money MARKET as well in Europe as in thisf
coulty; sno tnat j., otter that the said John B.
Floyd shall be clearly of opinion that the pre- ri
uIns, as hereinaeo9e stated, are too hieh aad may
prevent safe of the bonds, that then, in such
event, he will repot the result of his convictions
TO the Board of public works, and use his efforts
and iaduence i'll getting those premiums reduced.
After oil which, should the Board of public works
stll i,sist Oh keeping up the premium as herein
fixed, the said Selden, Wiihers & Co. shall pos
the option to continue this contract not,
their judo ment and inclination shall dictate. And
the said Seden, Withers & Co. promise to an
nounce their judgment and inclination tothe said
Floyd, nor to The Board Of public works, af
ter they shalllave received due notice OF the de-
Termination Of the Board of public works respect