Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-01-05
THE MEMPHIS DEBT.
Say the Representatives Of the Bond.
holders, Can Only be Settled by the
TaxiBg-District Becoming
Responsible for It-PrOTisiOn for Ii by
the State, Whose Creature the
District is, Will Not DO.

Yesterday afternoon an APPEAL reporter
called upon Capt. d. E. Myers. Hon. John
johnson and Hon. William NJ. Randolph 10
ASCERTAIN their views upon the old City Debt
matter. Mr.. johnson, who was first ap-
preached, said that ne had given the matter
no thought at all; be had shifted his interest
from city TO insurance matters, and he could
not give any intelligent answer to the re-
porter's questions.
CAPT. D. z. MYERS
was found at his Office, and the reporter, get
ting him where he could not escape, pro-
ceeded to interrogate him.
"You represent, l believe" said the re-
porter, "a considerable number of the cred
itors Of the old city"
"Yes, sir; little less than 100000. Mr..
Randolph and our firm represent probably
three-fourths OF the entire Indebtedness"
care you favorably disposed toward a
compromisep
Eyes, sir; if / can see any way by which
my clients can be guaranteed their money.
Two years ago the creditors proposed basis
OF compromise, which was rejected. They
have, in fact, interested Themselves several
times to effect compromise, bnt now they
propose 10 trust entirely 10 litigation"
What do you think OF the Flippin bssis?'
TO them, but they must have guarantee. Ii
the Taxing District government will assume
the responsibility OF settling at those figures,
well and good. Any compromise which does
not recognize the responsibility of the Dis
trIct Ia simply Chiid's play, and will not be
regarded for a moment. The only thing
that the creditors desire is an assurance that
their debt will be paid. The proposition in
The APPEAL this morning Ia simply out oil
the question"
"Do you propose TO ask any relief from
the Legislature~
s;Not at all We don,t propoee 70 take any
steps except in court. 1t is purely matter
OF litigation.
THE HON. WILLIAM NJ. RANDOLPH,
who represents large proportion of the
creditors OF the old city, was visited at his
Office.
81 have not heard of any definite compro.
mise" he said. "About TWO yeara ago in.
terested myself to effect one between the
creditors and the people OF Memphis, but il
fell through. Since then l have never
spoken 10 any of the bondholders l represent
on the subject, and l cannot pretend TO voice
their sentiments on the subject OF COM
promise. / presume if fair basis of settle
ment were proposed they would accept. ]
should not advise them to accept any com.
promise which did not involve the liability oil
the Taxing District government. The courts
have frequently decided that the Taxing
District is liable for our claims, and we have
obtained any number OF judgments against
the Taxing Distric.. The creditors of course
will not be satisfied with a myth They will
take no compromise which does not make
their claims absolutely sale. 1t is proper
that the citizens should come together and II
their discretion suggest compromise. Their
the creditors will discuss the terms, and vii
] agree 10 them or refuse to entertain them, al
their discretion dictates. To ask them L
relinquish any legal claims they hsy,
! against the District Tor an uncertainty is no
| 20 be thought Of would as a citizen lik'
TO see the city debt question settled. / hav,
confidence in the fuiure OF Memphis. 1 be
| lieve she will be city. / think the settle
ment of the city debt would have percepti
BILE effect on her progress. am confident III
bondholders would agree to a reasonable
cffer of compromise. Ii the present govern
ment does not owe the debt, and is not boun
for it, see no reason why it should concerl
itself about settlement at ALL"