The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1873-06-27
Tuz SINKING FUND CoMM1ss1oy.-Tbe

THz SINKING FUND CoMM1ss1ox. The
Unioa.Herald says:
=, The legislative committee appointed
to Investigate the doings Of the SINKING
Fund Commission are still pursnin1
their labors, aud, from all that can be
learned, the monotony OF this duty is
somewhat broken by the new phases mt
upon some transactions reported to have
been made. The committee and the
able counsel before it on the part
OF the State were probably wise in
adopting the course they did, of keep.
ing fromthe public the drift of the tes-
timony adduced until it should he pro-
per to give the same. This is we'll. Bat
we may, perhaps. in lauduble zeal to
be fully up to and alive TO the somewhat
dull times for news, be allowed to give
rumors, considered to be we'll founded.
as to the bearing of point or two OF
the important testimony given by the
first witness, which is, in fact. but an
endorsement Of many things that have
been expressed-more than have been
limited at. Regarding the sale and trans.
Ter OF the Blue Ridge Railroad stock
owned by the State, il is reported there
has been most important testimony
gwen. 10 so into the intricate minutin
OF the workings Of rings regarding this
corporation at the present time, is not
our purpose, but merely to refer to what
IL stated to be the substance of cx-Goy.
SCOTS testimony. Singularly enough,
THIS ex-otticer, if reports be true, gets
continually in more agreeable aspect
as he Is drawn out by official inyestiga.
tions. 1t is stated that the 13, 100 shares
OF the stock held by the State in the
Blue Ridge Railroad Company las mas
been stated before) were sold for 81 ne,
share, on condition that the buyers
should fulfill certain stipulations, amonc
which was that the floating debt should
be paid in ninety days, which would
have included the 1920, 600 that was O
Kind OF an eye-sore; that $4,000 pel
year should be paid by the contractors tc
the State, and that the Blue Ridge Rail
road should be completed in Ave years.
etc., etc. None Of these conditions were
complied with; yet the contract has moi
been declared null and void. Why? Be.
cause, by Act Of Legislature, lin the
bill known as the scrip billy the acts Of
the Sinking Fund Commission we're con
trmed,' and, il said bill is constitutional
the detects Of their transactions cured
The fact is, the Secretary of the SINKING
Fund Commission was the custodian, b1
virtue of another Office he held, OF the
stock of the Blue Ridge Company helc
by the State. It is also reported to us
as appearing in testimony, that the wit
ness, at one of the meetings of the Sink
ing Fund Commission. spoke to the Sec
retary OF the meeting, stating, in sub
stance, that lie, the Secretary. hat
omitted in his minutes of the previou!
meeting some OF the important condi
tlons upon which tue stoak was to bt
disposed Of; that request was made
and draft of the corrections drawn m
in witness own hand writing, to have
the minutes properly corrected, and tha
Mt subsequent meeting the minute
were corrected, but so rs to appear as i
the corrections we're additional condi
lions, and not those at first hxed upon
linen, you know. it was only Is, To-
shares, dollar share, il these condi
tons were complied with. They wcr'
not complied with, rs subsequent event.
have shown, and, Of course. the questio,
the committee want to find out, and tina
everybody asks, is, who's to blame? I
is simply this-shat if the General AS
sembly had not overlooked or curec
lthat Is, If thSAct is constitutional) til,
defects growing out of non noncompliance,
with the contract regarding the paymen
OF the floating debt, giving the bond TO
faithful performance, &c., the Is, 1O(
shares of stock would now belong to th
State, By reason Of total -compli
nnce OF the conditions Of its transfer. I
the conditions had been complied Will
and faithfully carried out, it would hav
been probably beneficial to both th
road and the State. "It is very Ion,
lane that has no turn"
IHE OLDEST B1BLE.-The famous Ma
zarin Bible, 80 called because it was dis
covered IN the library OF Cardinal Maza
! Tin, %es sold in london fezp daxs ano