The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1881-09-22
MINNESO TA NEWS.
Mr.. Chambarlain's Proposition,

Tne Following is the proposition submitted to the
governor by Messrs. Cole and Gilman, attorneys
for Selah Chamberlain, looking to the continuance
OF the plan for the payment Of the Minnesota State
oonds adopted by the last win
CLEVELAND, o., Sept 10 telegram received,
VIII authorize You to continue proposition to ac-
cept hftyacents on the dollar if the governor Will
cav an extra session of legislature and have the
-1hatoer setled. s. CHAMBERLAIN
Sc PAUL, Sept IL, lsSl.-To His Excellency
John g Pillsbnry. Governor OF the State of Minns-
sofa. Sir: In view of the fact that the supreme
court has DECIDED the amendment to the constitu-
non OF this state adopted Novembcr;G. 1860, de-
e1arlnE that no law levying tax or making other
PROVISION for the paymentof principal or interest
OF the bonds denominated Minnesota State railroad
ponas snail take effect or be in force until such law
has been submitted to the people Of the State and
adoptedby majority Of the electors voting upon
she same, void, as impairing the obligation of the
section 10 of article 1, Of tks constitution Of the
United states. And that most,of the State bonds
a n NOW On deposit With the State auditor pursuant
an act IS now pending which is to be submitted to
the people OF the State at the next ensuing general
election providing for the appropriation Of the in
PRINCIPAL OF adjustment bonds which must be
nugatory ua,ess the pending proposition is con-
sn1,n'mated, we are authorized by client, MI.
oelan Cham berlaln. to renew HIS proposition to
accept 80 cents on the dollar of the bonds held
oy MN as provided in and by the act
oaIiteu Ill acL FfOVlQlng Tor the adjustment of the
Minnesota State railroad bonds, approved March
20, 1881, provided and on the express condition
that the governor shall call an extra session of the
legislature at once and the adjustment shall be con-
summated during the present year.
IN making this proposition we do not conceal
from ourselves the fact that the State bonds have
Deen very greatly appreciated in value by the re-
cent decision OF the supreme court, nor that had
that decision been made prior to the commences
ment OF the session of the present legslatur. so
favorable proposition 10 the State would not have
usgn sdomt.ed, Out Desiring to deal with the State
structed us to continue to the State his original
Ofer subject to the above conditions -
we append our authority to this communication.
Respectfully, GoRDoN p. Cor n -
j. NJ. GILMAN,
Attorneys for Selah Chamberlain
EFFECT OF THE BOND DECISION.
The attorneys Of selah Chamberlain tele-
graphed to him the substance Of the decision of
tAe supreme court and asked him whether he
would authorize his attorneys to renew the
proposition for the settlement of the bonds
embodled IN the adjustment act of last winter,
mat ls, TO take half the debt in full settlement
Of the whole, in new thirty-year bonds. at
per cent interest, on cold ition that the govern
or should Immediately call an extra session of
the legislature and that the necessary legisla-
ton was had Mr. Chamberlain responded on
monday that he authorized his attorneys to re-
new the pro- ositOn on the condition named.
The proposition Was then formally submitted to
Gov: Plllsbury, and it is understood that he
thinks that if this proposition is not accented
to settle on the terms provided by the act of
last winter the opportunity is never likely to
occur again to settle them on terms so fovor-
able for the state. and that he will issue q call
for an extra session.