Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1878-03-14
tho various classes Of fvonchcrs'wlrich arc snid
to impair The validity of said bonds md


tho various classes Of vonchcrs'wlrict arc snid
to impair The validity of said bonds and
stocks.
6. Thatas to tito coupons Gnstt interest
orders on bonds and stocks mentioned in
schedule s, of said report the same bo paid
those for tho last, fiscal your out Of tho money
now in tho treasury for that purpose, md
those for the current fiscal year out Of tic ta6
to he levied forthat purpose. q
q. That as to coupons and intorost orders
on any Of tho sovoral classes of bonds and;
stoots mentioned in suid schedule g, tho same
to be paid out Of the taxes for ths last md
current 6tarront fiscal years respectively, whenever
there ahaN bo final Adjudication rs. to tho
fysldiiy of tho said s5seef&f Glasses Of bonds
|iahd stocks in favor Of the said bonds and
fRf66ks. and aginst tho State.
F. z. That tho eaid court shall moot in the
city Of Columbia, on the first Monday, 10
timo until tho whole matter is disposed of.
8: That no further bonds or tocksIbe.iss9ed,
undor tho sct Of 1873, known rs tho consoli-
dation aot in exchango for bonds or stocks
issued since April, 1868, until they nro duly
examined by the authority OF, tic General
Assembly and found valid.
O.. That all Of tho. unfundcd dobts end lin
bilities Of the State including herein tho bills
of Bank Of thoEsate, ahds So much offihc
funded debt asI Is kpQwp rs the. ISxle Bonanza,
be settled aftor pfopcr PROOF and Fexaminnas
tion at the rate of SO Dor cent. payable in
coupon bonds, bearing 4ptorostsat tho ratc Of
6 per cent. per ,ahnIln, payable semi-annually
tho principle HrnyHble &ithh AA Sedrs, in
full satisfaction Of eaid ,tlomands; except
Lunatic Asylum and State Pennitortiary sinoo
tho first of November, 1873. ON which shall
DO paid tho amount actually and, bona fdo
due, after proof'sdbd proper Examination
thereof, thc8said payment to DO ''iiiadc in
coupon bonds Of like CHARACTER ma those above
REFERRED to, for the full anoGnt allowed after
such examination. I" ''n"fd'.A =
& e II; I SEh9TIolSw aRGY 9 TB 3 SE$rEK SHTER; r.
r. r. IltS1PIIILL. =. 4. .'B. FRASER.
:, z N'lh s. i. 'BKXbfE.E49'. E4' MAX I" ~ T.
;a' ADOPTING THE REphRT.'
When this report was. submitted to the
caueas there WAS at first some opposition to
it, but the better judgment Of the eonscrva-
tive mch in the General. Assembly prevailed,
and it .was adopted by.ou 'dlmpst unanimous
vote, and tho committee were at once ins
struoted to draft bill to cover the grounds.
This bilt&ill probably be submitted in tho
,IIodse on Tuesday Now lot lie see what the
compromise. offers. Tho valid ,,coGsolidatc0
debt, of the State as per schodYio.5. 2eferred
to in the compromise, amounts to,S ,571x Sass
r.. The interest on these is to be paid ut:
once, rs these are reported by the Bond Cons
mission MS being issued in exchange for md
in lieu Of bonds coupons, i certificates of
stock and interest orders issued in nccYrdancc.
with law. The bond alluded to ip tho repre-
and classified as schedule ix .Almountt to. ST..
8ls,451.79, and these are tobe tIrpwifii into the
special oonrt to Aytho issuepf' thoir ;5yalidity
Leaving out these, disputed bonds, MaHup-
posing that the Holders offsthe sbflfssDH the
Bank Of the State and of,,tho AdheSng SEaims
should accept the comprofbiso ind fund their
claims Mt fifty cents onsthe dollar, tllo bonded
debt Of the State. would stand about As fol.
lo@s; ~ .@ &:
GOOD Consolidated Binds sI577,sa5
Uufundea} BINDS aha- Coupons.
2,7l6,e00; funded also ccnts 1853 ,4s0
tBills of tho. Bapk Of thc State, g
say $1,000 600 1T so cents 100000
/ floating indebtedness. estimated %@s%
at $l,0lG.92G, at so cents 5oS,AGS
Aggregate Bonded Debt $3o507S3
To which, Of course, must be added, the
interest for two, o,anl q half years, which will
swell tho total debt to abnut $4,000, 600, lot
counting the $2.slS, ,.i54 which will be thrown
inte oonrty.,y. y%, tE->%r,':l
E.. .OoLUMpIA. March IL The Situation on tic
bond ques,n to night remains unchangci
Judges Wallace. Shaw. Thoms0n md Hudson
are spoken oi ns' the tribunal to hear the
question, With the chances in lnpor of the first