Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1886-01-30

Dsnk stock, asylum, iaW
library. etc. ...~.. 651.0oo
e4,0{9,s57
1t viii be observed that Congress.
by the act Of 1896. gave TO yisyinia
/ g., 935 ,aaS7. Of which she received some
sl.932, 500, leaving 10 her credit in the
( United States Treasury -. of
which West Virginia has obuinsd
$-.
The West Virginia Copstitatios OF
1863 provides The Legislature nsv
direct the sale OF the stocks owned by
the State; bat the proceeds shall be
applied TO the reduction Of the pablsc
debt
Pursuant to this N andate Of her Con-
stitution West Virginia has sold coa-
siderable portion OF the property which
was owned By the old State, the pro-
cseds Of which sales are nov IN the
Treasury OF wes; Virginia
l.. Your petitioners further show
and respectively represent that they
are the owners ofnlore than s6.oo0.0oo
OF the securities known A. wes, vs-
GINA certificates. which were issued 10
the owners OF ante-bellam bonds, which
bends were surrendered under the sst
Of 1871, and which certificates repre-
sent one third Of the bonds SO surren-
dered.
The whole amount Of certificates issued
exclusive Of those held by the sinking
/ fund and By the literary fund. rs the re
cords Of the Second Auditors Office
disclose. is sl2,9Gl, ,67S.34, Of which
all were issued under the funding bill
Of 1871, except about sS9s, ,435, which
were issued under the acts OF 1879
and 1883.
Your petitioners therefore respect
fully say that it is no less the interest
than the duty OF this Commonwealth TO
bring about such settlement for the fol-
| lowing reasons-yiz
First. Nearly 81 GOO, 900 Of the ante
bellum debt still remains unfundsd,
and one OF the obvious reasons for this
consists in the fact that the holders Of
such bonds have come to regard the
one third for which they would receive
| these certificates as almost thrown
away. Petitioners themselves are the
holders OF an;e-bellum bonds, all OF
which they would at once fund If steps
were taken to bring about the settle
ment herein prayed for, and other mold
ers to a very large amount inform pc
titiOners that they entertain the same
view and will adopt the same course.
Second. The sinking fund, the lite
rsry fund, and the public schools OF
this State are together the holders Of
more than $4,000, 900 Of these certih-
Gates. and would therefore be benefited
equally with your petitioners.
Third. The bonds already funded
under the act Of ISL cannot be can
ctlled, but must be held indefinitely by
this Commonwealth as trustee for the
certifcate-hOlders until settlement IS
had between the two States.
Fourth. Al parties in this State are
understood to agree that the debt ques-
tion shall be finally settled aud removed
from the arena Of discussion. The
Riddleberger bill proyides for all classes
Of the State debt except these certi6-
Gates. So long as they remain as a.
present the debt Is not and cannot be
considered settled But n the holders
release Virginia from all liability there
for. as Is herein proposed, that ends all
further question as 10 whether and to
what extent this Commonwealth is under
any legal or moral obligation on account
Of the one third Of her old debt, and
such question will be- ended by the vol
untsry act of the creditors themselves.
II, then, it appears no, only that IL is
the duty Of this State 20 accomplish
this settlement with West Virginia, but
II IS also o. the interest OF her people
and her public institutions and il
West Virginia maintains that she Is
willing and anxious for It TO be had,
what consideration should prevent or
retard itg
Petitioners therefore respectfully y urge
this honorable body to adopt such ap-
pIoprlate legislation As shall authorize
and direct the proper department OF the
State government % take such steps as
10 ensure as promptly a. possible a set
element with the State Of West Nirgi-
nis Of is part Of the public debt Of vIr-
siEia FOR the beneii, Of the holders OF
the deferred certificates, prOVided that
the holders fhsreef, a. oforssaid, hail
met Ggree that Hch settlement, ghen
sGas, shall grso FAcTo release Ais
CDmmoHreGiih iron, all Iiabiiity 0a ac-
couHf hcreoE.
John ii. Morris. Drexel, Morgan 4
London; Co.. Neg York
PIN, Waugh s. Co., C. Selden's Execu-
John Hill son, tor, Virginia
Chinnery Bros, William selden.
I homas foulke, ". b. Sclden's Ex-
e. Ootts d Co., eeutor,
James Frowd, Lewis II. Perry,
iicwland 4 Aspin- q. B. Rhodes.
wall, samuel Montague,
J. S,urrock, Kill Herbert King.
maneck. ireland; Charles W. Cox.
leon Bros. q Co., r. 5. March.
plock Co., james 5. Swan,
William Paxton, r. r. Beach,
Brighton, Eng samuel Woods,
Forbes & Decker e. o. Groome,
son, william Price,
Iiilder s Moens, l.. +. smith.
Trustees Of Bryn stephen =. Holmes,
Man College. administrator
Nlrs. Mary Perry First Natl Bank
Mold, Of New York,
Bank Of Scotland, Miles Bros. 4 Co.,
Wm. James Dun y. NJ. Seward 4
can, Co.,
James William Richard Irwin <
Smelling. Co,
Leonard j. tor William Erwin,
don, Caroline L. Miles,
e. Spencer. treas Fred. MeNaagh-
urer ton,
Mrs. Alice II. Ny Maitland Phelps 4
erS. Co..
Charles I. Cotting, Amos BirdsAil,
Massachusetts, G. A. Love,
National Proyin- j. j. Van Nos
eial Bank, trand,
Brookl Land