New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-01-04
ACTION or TENNESSEE BovDHoLDERS
AN EXTENSION or 1IaE FOR EXCHANGING THE
BONDS ASKED FOR.

AN EXTENSION or IIME FOR EXCHANGING THE
BONDS ASKED FOR.
The privilege OF exchanging old bonds for
new compromise bonds OF tho state OF Tennessee.
according to the Funding act OF last year. expired on
Saturday. meeting OF the Bondnolders' Committee
held on 30 before the State Treasurer had
pressed publicly HE determination not pay the Janu-
nry interest ON tho new bonds. at which resolutions
were passed OF the time Tor tw
years Copies Of these resolutions forwarded BY
Eugene Kelly. chslrman OF the Bondholders Com mtec.
10 the Governor OF and TO the chief officers OF
both branches OF tho Legislature. Tho resolutions are
as follows;
in the CITY Of NowYork between u committee Of the
iesIslaturc OF this committee represent
were TO accept 90 per OF their claims and the State
OF Tennessee was 70 give In settlement her com
Ing interest, payable naf yearly at and per cent
and ut rate OF per cent per annum thereafter
Wneeas law was enacted by the Legislature of
and approved May 90 1882 to enable the state
carry out said compromise with her oredtors and
standing al the tune the passage Of said act have been
funded Into the compromise bonds OF tho state and but
which has shown itself In portions OF Tennessee
toward this most liberal compromise the part OF the
es creditors the settlement would In the opinion OF
this committee have been practically completed by this
time and Tennessee's credit restoredi and
the state 10 compromise fund outstanding bond
Liabilities therein described at sixty the dollar
wfexpire by limitation the lst day OF January,
1888 aud Is manesy for tho honor and interest OF
Tennessee that extension OF the time for funding
Hereunder should be granted TO the end that the mani
fold advantages which to follow the complete
settlement OF her bond obligations In terms of the com
promise agreed upon and subsequently enaoted into
law Of be lost the states therefore,
ResOiptd, That this committee respectfully Dut ear
nesy request the LegsaureOf Tennessee TO extend the
fine finding tho bond obligations OF the state into
her compromise bonds for two years from January
1884, that they earnestly urge aud that ne
Legislature only grant this extension put slIo tns
most opportune Ioccasion TO raty, confirm aud com
this favorable compromise Tor Tennessee
regarded In all s aspects that will be found practicable
anu take out OF tho domain OF politics question that
has already encountered In It's discussion feelings
which every good citizen must deprecate
"a question, too, which has impedcd
the progress o the State and retarded the pr spey OF
the people, and which must necessarily continue 10 uis
tract the Common wealth II not now finally disposed o.
rs heretofore agreed upon.
Resolred That a compromise ut lower rate is not
Justified by circumstances OF the people OF Iennes
see and hence should be proposed In thor Deha
and should be- and satisfied Will not DC, CON
sidered by the creditors N proposed.
Resolved That the chairman OF the committee DO ana
he Is hereby requested 10 forward copy OF those rso
lutions the Governor OF Tennessee and also TO tho
Speaker OF each House, with request that II be SUD
mtted 10 tho General Assembly.