The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-04-17
GENERAL EWING.

(
Colorel Ross renewed his tender Of :,
cents In the dollar: and it was seconded by
several OF the first mortgage hondbolders.
General Ewing, addressing the meeting,
said it was hardly necessary for the bond
holders to make The proposition as proposed
b. Colonel Ross. He did not think it would
be accepted.
lie then went on to give at length the
| reasons WHY his company could not Tny tho
! price Tor the be DDS ASKED and under the
conditions proposed, and also to explain
Folly the prcpostiuu the railroad company
had made. In the course OF his remarks be-
saId that big company was fully able TO raise
tbe money 10 build the road Indeed. ono
gentleman Of fhe company could do it-but
tbs hEaiteG time 1hch remained might pre-
vert negotiations. 1t simply amounted to
! Che T7ising OF about three milton dollar. to
buikts the road and pay the debts of the
cSraf company in sixty days, aud that
wstEN Be mprstieabse. He stir thought
that il af. agreemepS sruld be arrived at.
here fEc scheme cuuies still be carried
through.
GeneraS Ewing firthcr stated that the
railroad cSxhpany preferred s cash PROPOSE
ton, ant iE seemed apparent 80 him that ft
would not he accepted by the sondholders..
and tlareloEe lie bad conc: a,1ed not TO-
make IT,.
Half IN horrwas speat in infcr..ai confer.
.ence.
:. EESR fsa AN sSREEMESF.
r Finally Mr.. Kelley suggested; shat IL,
security th2 Rld,mond aad AIIr..iaHy Rail-.
road Company pledge the dock receipts and
water rents 70 the payment OF the notes for
the bonds.
General E2Hng considered The Sw.-a~tion
Cor some time. aad said while 1t was obiec--
,t.onable 1t might be dono. and said :tst, the
company WnuH consent to such an arrnngc-
hcnt--fiZ., 10 apply the dock rccri pts and.
water rents tc' the sWirguiShmcnt II tho
interest ana pra' 2aa Of the bonds.
General Ewing. again. reviewed !Eo tftli-
c'htlcs under Ttlich the company would.
Labor, even uudeu the most favorable settle
msnt- because OF the 6ricf time allowed the
company TO buy t.ie debts of the comnny.
Colonel Ross Saslif Grnenal Ewing would.
accept ID per Gems OF principal and tsser--
est. he f"r one woad aerept the Gensrals.
proposition fcr srcan.ty-
Geaeral Ewing said hs 'Eid offered aii he
was permitted to o,.tir.
1lr- Davenport saiA he Thought Colsnek
Ross had set bis Golfer too deep.
ANOTuEE gCpyEslri0N.
Colonel Ross finally put his propositions
in this form:
ReSoi1pd, That the fret mortgage bond
holders will take for thci7 bonds and ac-
crlled lssrrcSt I.jcenti sp the dollar OF prin--
ciDa ard ~ cents on thc dollar Of accrucd
interest wlth tic securiyof the water rents
aud docEagc in addition Ia the bonds to be
held >uhFret to the coEssi,ionS in the report
OF the committee.
R"S0h:eI- That the second mortgage bond
hoEdcl> will take - csuts on the dol!ar OF
pr:ncipal aud 80 cents or the dollar OF ac--.
crucd interest, payable sD The SAME manner
and ut the same time.
Judge Edmlmd>on, ;isa substitute, moved
to adopt General EwIn.'s original PROPOSE
ton, rs he had agreed to modify il by the
addition OF the security i'll the wafer rents
and dock scccipI>.
MAJoEl1Y AGREES TO 4 SETTLEMESI.
The Chair stated that the question would