The New York herald., 1872-07-12
THE SOUTH CAROLINA BONDS.
The HondhOiders I'm Councti-The soush
CarOlfas Ring To BE Prosec uted-Thois
Property I'm This CITY To Re Seized

ChrOaiAe hing TO he Prosec u tod-rhoiR
Property In This CITY To re seixea.
An adjourned meeting OF the holders of tho
bonds of south Carolina was held at the oHice or
Drake Brothers, No. 6s Broadway. at noon yester-
day, with view OF taking some united action
looking to the enforced payment OF the interest on
the bonds held in this city. At the previous meet
ing IL was clearly shown that the resources OF the
otate were abundantly sufficient TO meet the in
oeotedhess were the treasury not systematically
robbed by the carpet -baggers
A. A. Drake acted IA chairman After the read
ing OF the minutes OF tho preytous meeting bv
Goodwin Ward, Secretary, q letter was read from A
gentleman In Baltimore, reporting that he bought
bonus az siXty-nve ana when they declined 70 fifty
he wrote to Governor Scott asking IL ANYTHING was
wrong Tho Governor responded that the state
was able to pay. The letter refers TO the COM
mencement OF legal proceedings to compel Scott
and his associates to dsgorge; but they were de-
ferred by the sudden death OF Mr.. Brent, the couu
sci for the Baltimore bondholders IL appears that
Mr.. Brent had ascertained where a large amount OF
the stolen money could he found, and he intended
to continue both criminal and civil proceedings
looking to the punishment or the Offenders aud tho
recovery OF the money mlsapplied
lengthy legal opinion on the subject OF tho
rights OF the creditor to recover from the state was
read from Ex-Governor Magrath, who advises that
bill be ned'in the United States Court to compel
the agents OF the State to make statement OF tho
disposition OF the funds and that prayer be addet
iot an iuluuNo'ou icSbiatntnR tucli HOu
misapprOpriation The Governor, who Is one OF
the ablest urists of South Carolina gives 1t as hs
opinion that the creditors would In time recover,
although 1t would require lengthy litigation.
The following resolution was Ofered:-
Resolved, That committee of three persons to consist
OF T.. A. Quintard e. b. Wesley and A. A. Drake be ap-
pointed to so the cooperation of the and hold
tempt to collect the past due coupons, with authority to
engage counsel to commence legal proceedings against
TO raise funds by subscription TO promote such proceed
ings without delay.
Resolved That all parties Interested be earnestly re-
que scd TO assist said committee by carly subscription
rs possible.
Mr.. w. II. DARLING moved as q substitute that
committee be appointed to confer with the bond
holders and report at another meeting, which
carried. The committee consists of Messrs r. A.
Quintard, H. b. Wesley, william II. Darling and A.
A. Drake rs ec oGicfO members.
Mr.. q. L. CHICHESTER, OF Charleston, declared
that all the taxes have been collected often three
raised; that for want of funds there is not public
school open in the entire State; that the lunatlcS
have been turned out OF the asylum, sent back to
ttelr respective countless where they run wild;
that the inmates OF the prisons have been turned
out, and the people were poor, ruined
In fact. lt was necessary If any action be taken
that II be at once as the gubernatorta election
building palaces in Ohio and other States, will not
remain IN the State. Several other gentlemen, In
cludng Messrs. Herbert and Undcrhill, urged i'm
mediate action. Mr.. Undcrhll reported that they
intended to take out executions Oh property ih
this county owned by the ring.
The committee were instructed to retain Gov
ernOr Magrath OF South Carolina, and Mr.. Herbert
as legal advisers. The meeting adjourned, to re-
assemble ncxt Thursday, at noon, at the Same
place.