The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-08-10

ACTION OF THE coSsTIIUuoyAL coSvEN-
TIoS PAYMENT OF BONDS FOR EVER IRo-
HIDTED-- CHARACTER OF THE CLAIMS RE-
PUDIArEp-BoB TooMDs on RECONSTRUCTION
Dy TELEGRAPH TO THE HERALD
ArLASrA, Angus, 0. 1871.
In the Constitutional Convention to-day the section
declaring The bonds illegal, null aud VOID ani pro-
honng the Legislature from paying them directly or
indirectly, adopted by vote Of 1876 TO 10 The
various classes OF bonds thus repudaied had their
respective representatives ami proper appreciation
OF the action OF the Convention may be had by refer.
cnce 10 several classes Tor whom the most determined
efforts were nude.
CHARACTER THE goNpa
The case OF the Boorman Johnston bonds Il as fol-
iows;-ihe State purchased from II. J. Kimball the
Capitol Building N which the Convention IS now
sitting for s250,0o0 in bonds These bonds were
turned over TO him, and the received the
property He then pledged sl2o coo OF the bonds with
Norman Johnston and $4,000 with Russell sage,
both OF New York. shortly after tins had been done
Governor Bullock, without authority OF law agreed
with Kmbai that he should replace these bonds with
a new issue. lie accordingly delivered kiinbali
$3.50 900 OF new bonds to substitute for them KIM
ball failed to take ny the old bonds but dircctoe the
new to purpose OF his own Tho Slate settled
with Russell Sage, bat rcpGd!atcd Johnson's claim
Another case Is that of Mcssrs. Branch Co., OF
Augusta, Ga when the Leg isia turc preparing It's
first act OF reputation II declared by special act
which passed both houses and signed by the Gov
crnor that the Macon and brunswick Railroad bonds
were binding and valid. Upon the assurance OF this
act Messrs Branch Co. bought about 500 900 worm
OF these bonds Aief"ard the Legislature repudiatcd
them
A third case Is thar OF the Scott bonds These bonds
were issued long before the and are oil course
perfectly regular. When the bond investigation WAS
gong on IN 1872 an act passed requiring The hold
N l..y..
at the frcasuIcrs Office Mr. Scott who held some OF
these bonds, Forwarded them to Atlanta TO have them
registered The purity TO whom he sont them f,ilcd
TO have them registered, and they are consequently
rcpudiatcd.
These arc the stronger cases and have appealed
strongly to the sense OF justice OF the state
but such was tho feeling caused by the fraudulent
issues OF bouds under tue bullock government during
RECONSTRUCTION days, under what purpoited to be
system OF internal Improvement that, like Dog Tray
they have gone down from bong in bad company.
ACTION OF THE CONVENTION
In the Convention Governor Jcnk nus spoke in favor
OF remting the claims upon the State adjudication
by the Supreme Court OF the State. He favored nir
legal investigation and judicial determination OF the
rights OF the alleged bogus bondhodcrs.
General Toombs cnampioned rcpudiaton saying
that the State was not bound for single dollar appro
pratcd under tho reconstruction government; thnt IL
usurpa.ion by aid OF the bayonct and the world
had notice that the acts OF the de acto officers were
without the consent or authority OF the people OF
Georgia
PROMINENT MEMBERS
II was noticeable that the who voted against
tabng the proposition to submit the question 10 the
Supreme Court were tho leading members Senator
Brown In voting SAID the Senate Committee IN IN
vestigating Johnson's clam no had reported uudcr
oath that II was just, and General Lawtou SAID as IA
member OF tho House no had been forced the same
conclusion Therefore he voted against tabling Jonk-
iDs resolution. Considerable feeling was manifested
but the members stood lrm Efforts are bcup made
tonight secure reconsideration TO- morrow win
little hope however.
ACTION or A BoSDloLpER
Major Branch has taken TO have n United
States Marshai's lovy on the Mucena and Brunswick
Railroad property OF the State the hope OF forcing
the state INTO the cited States Court, where he can
test his claim.
THE STATE INDEBTEDNESS
The proceeds of the sales OF the State railroads are
to be apart 10 eXtnguish the indebtedness ot tho
State on their account. "A sinking fund OF SlOO OOO
per annum 10 purchase the bonds of he State for tho
purpose OF retiring thcm Is established