The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1873-03-12
Reporter. Well, and the College il
70 submit to this robbery z ..,,-...-.,....


has also 100000 of Bonds belongin,
to the Sinking Fund, and I,haye M
doubt" We will recover them, ais,
$500 600 of the Blue Ridge Rail Roaall
Bonds are iniHhis possession. They
wore pledged by the Company to thi
State to secure the loan aof $2000Oj
thattbe State made toItHe Compan'
and which the State gave the Com
pany last winter when II gave 81, 800,
900 of Scrip. These Bonds were re
quired to be Cancelled by. that law
andreturned to the Treasury. They
are now chow erer.pledged for loans
Irpresume the Financial Board, viii
of course, demand these Bonds from
Mr.. ,Kimptoa. rYoa ARE mo doubt
aware thatther6 are about n$3, 400, ,00
of Blue Ridge Rail . Road Bonds III
the Treasury. !Yhey hwere Z returned
to the Treasury whenithe Script wa
I,ssued. "A portion 4of9tbem "are can
Icelled! j. A joint Committee was ap
pointed at the close ofithe session Z
cancel the balance, lin accordance Will
the law, QUO Ln8 g! hi>tAfiH'z n'>'':H
THr BLUE ysll R1pgqlhb gqlhbl'e. SCRIP. 11 4soI
Reporter. Have you an idea as t.
the ultimate value Of the Blue Ridge
Scrip issied under the Act passed al
the last session. ,r
The Treasurer. 9Icannot of course
undertake to say anything on nl'tha1
subject, as the question Is stilli before
the Courts, Neagle, BY bis. suit ask
ing tho Supreme Court 70, issue 9
Mandamus requiring the Comptrollel
General toe leEy ttBe aax sought tt
make himself preferred creditor
aBd,it Was only this that,we resisted
We are not disposed, and indeed dc
hot intend to levy the tax before The
case is decided in the. Courts. The
question fof tho constitutionality 'ol
the Scrip comes up before, thessu
lpreme Coprt in April by appealh from
the Circuit COurC. 1,;4F.fa ,sse,c s
Reporter. But it is claimed that
the Moha .fide holders 'ef tie Scrip
should not be made to5sufer? ..r7'
+, The sTreasurer.: Tota certain extent
all holders Of scrip are bona fds hold
ers. The man who bought; il on the
street at Is cents on the dollar is q
b ono tsde holder, but he Bought it sub:
ject, ito ,Shelquestion of it's validity,
und must abide the issue. There is a
certain class of, holders who. ought
not, ia equity. be, made to suffer Mr..
Wesley, tor instance. Of New York.
He advanced $3.50; 900 to secure the
release Of the bonds, and iholds one
million Iof the scrip rs collateral. I
think be oughtat least9be paid the
money he, advanced, with interest at
The rate Of Z per cent, and I under
stand that this is af that he claims.
At any rate. I am, not prepared to
hazard an opinion on the subject un-
ill the matter has sheen finally 'determ-
aed by; the Supteme Conrt:i "oa :
PUTTING A. STOP ro SPECULATION
Reporter. What was the point In
1olved in the Mandamus' case argued
before rJpdge Carpenter, thai other
1.-The Treasurer, It was. a. very i'm
oortant'poiht,, and one that, if estab-
ished, ,rwill DO much towards : helping
IS financially lin the future Tho
5oint made by the Attorney General
Sas that, whenever, az, officer receives
unds from th e State, for q particular
purpose Hs is trustee holding trust
'unds, and; has no right TO take the
certificate or warrants andc pledge or
Iell them. ?,The: history, of the case
nay be briefly stated thus: Governor
Scott, while Governor of the State,
,ffered 10 lend MI. Stollbrand, Super
ntendent of the Penitentiary, $4,000
It was at time when all the State
Institutions were in q distressing con-
iition for want of funds. Mr. Stoll-
brand borrowed the money, .pledging
a.. collaterals six warrants on the
Il easury for u, 900 each. AS soon as
came into office;'l Mr.. sStoflbrand
came to me and I gaze hims:th money,
With which be paid Scott the SIS, 900
botyrrowed, together with interest, and
claimed the warrants that had been
advanced to him as colluterals. Gov.
Scott surrendered three of'the war
rants, but held the other three, claim:
ing that they were forfeited. as the
amount had not been paid. Mr.
stolibrand informed me and request ed
me not to pay them, and INSTITUTED
suit for their recovery: In the mean.
time these same three warrants. were
presented to Inc several times by va:
rious parties for payment: I still re.
Mr.. shiver then. had one presented
and upon my refusal to pay it
brought suit:to eompefme oipays f..
The rsult of the Attorney Generate
position, ,if,sustained, will be most
beneficial IL the use Of the 'Schoo
Funds" ''1i"'' '''' 40 '" H.
= The County Treasurers, who will
get their respective portions of the
100000 raised for school purposes
will have TO show that they have ap
piled this fund to the proper purpose
They will be held TO. the same &C
colntabitity, as Trustees in charge O.
such funds. and if they misappIy the
money, will be guilty ofia breach %
trust and embezzlement. and will be
prosecuted for it. In this connection
the opinion of the Attorney Genera
will do more to restore the county
finances, to a healthy condition thar
any act OF our Administration.