Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1879-02-05

be modified by the provisions Of this
act. provided That all bonds and cerlih-
Gates which mag be necessary to be
printed shall be printed from a plate
which shall be the property Of The Com
monwealth, and shall remain in the
kicking or under the control OF the Sc
cond Auditor.
I. The owners of all classes Of bonds
mentiontiOned IN this act, who shall ex-
change their securities for the the bonds
created under this act, and who shall
not nave yet received certificates repre-
senting the remaining onc-third OF their
principal and interest due and payable
by the State of West Virginia, shall re-
ceive certificates of like character TO
to those issued under the act Of March
goth. 1871, when They naked such cX-
change; and the State OF Virginia will
negotiate. or aid the creditors holding
all of such certificates issued under this
act, or previous acts, negotiating with
the State of West Virginia for an ami
cable settlement ofthe claims OF such
creditors against the State OF west Nlr-
GINA.
8. The General Assembly will, by
necessary and appropriate legislation,
provide for the prompt payment OF the
interest on the bonds issued under this
act.
9. In the wear 1855, and annually
thereafter until all the bonds issued IN
der and by authority of this act are
paid. there shall be levied and collect
ed ;he same as. and together with other
faxes. q tax OF two cents on the 800
of the assessed valuation ofall Tie pop
ertv. personal. real and mixed, IN the
State. which shall be paid in the Treas
ury orthe state To the credit OF tie
SINKING Fund. The Treasurer. the
Auditor Of Public Accounts AND ) cond
Auditor are hereby appointed comm S,
sioners of the Sinking Fund, aid snail
have Ga majority actlns) the couiro. aud
and management thereon, apply Wat
ever sum or sums may be to the crcdil
of the Sinking Fund to the purchase and
redemption of bonds issued under ins
act.
All the certificates Of debt which
shall he funded. redeemed, CT purshased
under this act shall be cancelled by the
Second Auditor, and deliycd by him 10
the Treasures OF the commonwealth, AT
the time of payment therefor, who shah
carefully preserve the same IN ms o'I5e.
All certificates OF debt acquired under
thc operation ofthe sinking fund. crca-
ted by the act Of March 30. 1871, shlli
also be so cancelled and delivered.
10. Executors. administrators ana
others acting as tributaries may invest
in the bonds ISSUED under this act, ana
the same shall be considered lawful
Investment.
DAYS ofJuly, 1879, and January, 1881
and upon the same days in each year
nav or cause to be paid TO tie holders
thereof the half-yearly lnt rest then due
upon each of the bonds OF Common
wealth issued under tbs act.
IL. The act approved March I'm,
1878. and all act inconsistent ".l1 me
provisions of ihi5 act arc hereby ici-ai-
ed.
10. This act shall be IN force from is
passage.
were made by M1j. Caunston; Mr.
Ward. OF the Barring house IN london;
Mr.. Fry. OF New York; Col. Mollett.
Mr.. Bocock, Nh Barbour. Gen. Amber
son and others. The Bin is now before
the Joint committee. and the result ol
thcr deliberations will bee made known
TO both houses On monday OF carly next
week.
Mr.. McCloA.h. IN She course OF his
remarks. gave 1wo pieces of advice. q,
follows: II the debt question. "' I i''
settled, do not keep, before '"o ".''0
let it rest; and second, do not ran
down your land, and aud do not ~ LAX
Of the poverty Of Your State, but be
hopeful and cheerful, and the future "iii
Among the holders Of State binds
nresent we noticed Mr.. JOAN stewart
i. II. Maury, Daniel Stewart, John =.
Branch. OF rhos. Rrauch * Co.,; 7 4s.
Potts. of \. Y. Stokes & Co.; Ihoo.
Seddhn, Of Lee & Seldom, r. y. Ian
caster. and many others.