Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1878-08-10
4Jeaersen' and the County Bond..

AJemerson" on0 the County Bonds.
A writer in the last number of the
Free Press, over the signature of "Jef.
ferson," attacked undeservedly, unfairly
and ighorantly the conduct of the Pres
ident of the County Court and the
Commissioners appointed to deliver,
under the terms of the subscription,
the bonds of Jefferson county sub
scribed to the capital stock of the Shen-
andoah Valley Railroad Company. The
impression sought to be and really con-
veyed by the communications is that
the above named gentlemen delivered
to she Railroad Company bonds with
all the coupons for interest prior to
April l, 1873, attached. That it was
his purpose to convey this idea is man
ifest from his enquiry: "Do the people
Of the county Intend to pay interest on
these bonds for the years they have
been laying in The vaults I"
We have enGeavored to ascertain tie
facts, as it was the duty of Jefferson
to have done before his assault, and
have found them to be as follows: The
intention of the President of the Court
and the Commissioners was to detach
all coupons for interest IL the time OF
the delivery. AS, however, the interest
is payable annually, on the first day of
April in each year, and no coupon is
divisible, and as just one-third OF the
year since the last maturity Of interest
april l, 1879, had passed when the
late delivery Of bonds occurred, the
proper mode of adjusting the interest
was to detach the coupons 10 April /,
1879, from one. third of the bonds and
permit them to remain on the other
two-thirds. This was the method in
tended to be pursued, but, by pure
mistake, the coupons for hundred dol
lars or so more than the Railroad Com
pany was entitled to were delivered TO
it and by it turned over to the contrac-
tors to whom they were due for work
and materials done on and laid in the
road, aud finally passed to third hands
before the discovery, by any one, OF the
error-an error which we have ascer-
tanned from all the parties concerned
will be most cheerfully corrected on the
next delivery. The bouds were trans.
ferred with the consent of all the Com,
missioners; but even, as stated, had
there been but two of them present,
their acts would have been valid under
the rule of construction prescribed by
the Code of West Virginia, chapter ID,
section II, clause second: "Words pur,
porting 10 give joint authority to
three or more persons confer such AL,
thority on majority of them, and moi
| on less number"
A second ground of complaint il
"Jefferson's" alarming article is thai
there is likely to be bond used in pay
ment of debt due by the S. V. r. r.
Go. to Mr. Boteier This latter subject
is one which it is very difficult to set
can be of the leas. concern to any bu'
the s. V. X. Il. Co. aud Mr.. Boteler
The facts, as we are advised, are these
The company is indebted to MIR. b., tt
whom it has given an order for bone
to discharge the Indebtedness. I'M:
order is on the Commissioners OF the
county to deliver TO him bond out o
those earned by the Company unde1
the provision of the county subscription
We suppose it is matter Of not the
slightest importance to the people o.
the county, after work has been done
by the Company and it has been paid
for in bonds, what use it may make Of
them, except in So far as it might be
satisfaction, in a general way, to honest
people to know that honest debts were
paid by them.
The foregoing are, substantially, the
troubles that are disturbing the equani
nifty of Jefferson" and have caused
him to mount his Rosinante (Which
+ seems always to stand ready at the
hitching post for service) and with
lance in hand rush to the assault. i
he has mistaken windmill tor giant
and flock of sheep for an armed host
he has the qualification Of knowing the
same error was committed by his great
prototype, the Knight La Mancha. -
Spirit.