The New York herald., 1872-11-18
prices OF the principal stocks during the day.
three O'Clock p. NJ, when the Board adjourned -

NORTH CAROLINA DONDHoLDERS MEETING.
The Baltimore sun of yesterday contains the fol-
lowing:-
Last night meeting OF the holders OF North
held at the Office of Mr.. w. A. Dean, corner OF
Charles and Lexington streets, the object being to
bonded issue Of the State. The meeting was or
ganized by the election OF William A. Hooper as
President and r. W. Cox as Secretary. gene
raj interchange or views was had, extending
through some two hours.
Mr.. Miles White proposed the appointment of a
committee Of confer ence to act in concert with
bondholders OF other cities in preparing a me-
mortal to the North Carolina Legislature to lqui-
date the oS bonds s now outstanding, amounting to
from $4,000 900 to $15000,0 900. Pending the motion
a call OF the gentlemen present was made and it
was found that 1901, 600 in bonds represented.
been presented to him. One was that the state
impose larger tax levy in order to cover the
s1ae aeS tne ana receive say oaetrd or one
all persons surrendering bonds be entitled to the
States light in railroads, and thus reduce the
bonded debt. Another was TO fund the entire
debt and issue new bonds, say at fifty years to rum
the State paying two per cent on the first five
years, two and half the next five, and on up to
six per cent, at the same gradual increase, until
the bonds matured. He opposed any idea looking
received that the State was now able to pay saree
per cent. The whole debt was now about
ss5, 700, 600, and II 1t could be reduced to say
$4,000 GOO he believed tnat the State could pay its
interest alone was funded, the debt remained '''
MI. W IlJe SuBSchleu LnaC Jne present dlffculty
was in the collection OF the State taxes. There
were large numbers Of the colored people, rs well
as the poor white people, who could not even pay
the poll tax.
Nj. Samuel Edmunds stated that the whole debt
OF the State was $40, ,416,000 of which about
$S0oOc90 was the old State debt S11, ,O0O 600 was
special tax, bonds and the balance miscellaneous
The State possessed assets equal to about
S25, 000 He proposed not to invite reputation
butto memorialfze the Legislature, which meets on
Monday next, to at once fund the debt and issue
new bonds paying three per cent. the first five
years. and graduate the interest AFTER so that not
less than six per cent shall be finally paid. North
Carolina does not propose this as repudiation but
her bondholders do propose it on account of her
present condition.
Mr.. Dean thought committee should be an.
pointed to act upon the matter at once and that
this committee should be uninstructed as to their
action.
Mr. Edmunds proposed that Baltimore should act
alone without waiting for the bondholders of other
cities
series OF resolutions were finally adopted 70
memorialize the Legislature Of the State to fund
the debt, to issue new bonds to mature in thirty
years and to pay three cent the first Ave years
four per cent the second five years, five per cent
the third five years and six per cent thereafter
until the bonds matured. The bondholders OF
Philadelphia and New York were also invited to CO.
operate with Baltimore