Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-01-31
THE CITY DEBT.
The BondhoIders are ImplAcable-They
Will Not Accept Any Terms that
Do Not Embrace
The Assumption by the Taxiag- District
Government Of the Debt by Issuing
Bonds for Those Of Memphis.

The debt question has assumed considera-
bic importance in the pablic eye in the last
few weeks, and an early adjustment has been
a desideratum. 1t il the agitation OF the
matter by the bondholders which occasions
the hitch in the proceedings. At the last
public meeting OF the citizens at the Green
law Operahouse, the Peters resolutions were
adopted by vote of fully two to one. A
committee was appointed by the chairman
of that meeting, Col. B. NJ. Estes, to draft
bill in accordance with the spiri: of the res.
olutious. The committee has had several
meetings, and has confned itself strictly 10
the duty allotted 1t.
BoNDHoLDERs NOT SERENE.
The bondholders have, however, been by
no means serene. Those who live here have
expressed their willingness to make eonces-
sions. but have doubted whether The foreign
boudhelders could be induced to coucede.
Their vexation of spirit has caused them 10
hold a number of conferences, with which
the Citizens committee has had nothing to
do. Seeing that they were defeated at the
last meeting of the citzens, they have very
generously agreed 10 yield that feature. They
are, however, still bent on having the Dis
trict held liable for the bonds. Yester lay
morning there was
MEETING OF THE BoNDHoLDERs,
which was of course kept private. About
noon il was ru uored around that the bill TO
be prepared by the committee would insure
the issuance of The bonds by the Taxing
District, but that the taxes were to be levied
by the Legislature, or in default OF such &C.
ton of the Legislature, then by the Taxing
District. This would have been a praci ic ii
concession of nearly all that the APPEAL has
fought against.
Later IN the afternoon it was said that the
bondho' ders did rot care to do anything
which would
IMPAIR THE USEFULNESS
of the Taxing Districi, or would, In any
way, iniure the government. The rumor
also spread that the bondbolders had sue
ceeded in taking the Ciiiz ms committee
into the fold, and that but Tor the opposition
of two prominent citjz.ns OF Memphis a
compromises would have been effected. II
was said that the committee had gone, body
aud soul, over TO the bondholder. An AP-
PEAL reporter, as soon as he heari this re-
PORT, called upon member OF the committee
and asked for some information as 10 the
doings OF the committee.
THE COUPON FEATURE YIELDED.
1--WE have had several informal meetings
and have sent word TO the bondholders,' y
said the gentleman, "asking if they would
accept the proposition made in the Peters
resolutions. They said that they were willing
10 yield the coupon feature, knowing well
that we had downed Them on this point; but
they would not accept any sort OF compro.
mise which dis not involve the liability OF
the Taxing District. We have been discuss
ing the matter this afternoon, aud unless our
terms are agreed to, We will pay no further
attention 10 the bondholders, but will draft
bill and will 6ght them to the end"
A STIFF UPPER LIP.
sDo they evince any inclination toward 8
fair compromiss ~
"They do not. They seem determined tt
fight us at every point; and / think We car
accommodate them. If they should offer VI
any sort Of terms which we thought reason
able we would state our reasons Tor receiy
ing them and would ask for ano' her meeting
of the people 10 receive them. 10 the mean
time our duty is TO draw up bill in &C
oordzucs with the resolutions, and that we
I'M end to do"
The committee will pay no attention TO TN
bondholders, but will simply carry out th'
work assigned il by the citizens meeting
held at the Greenlaw Operahonse.