Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1886-04-07
BONDS AND COUPONS.
DECISION OF JUDGE ATKINS AS TO A
DRUMMER's TENDER OF COUPONS.
A New Point to be Made Against Many OF
the Coupons-No Bonds to be Pur-
chased This Month, &C., &c.

The case OF Edgar u. Jones, the
sample-merchant who has entered suit
against certain State officers for dam
ages for illegal arrest, indicted for SELL
ing goods by sample without license,
was called in the Hastings Court yes
terdsy.
Messrs. W. L. Royaltand William
II. Sands appeared as csanssl for the
accused and Mr.. WyndbAm r. Meredith
for the Commonwealth.
Before the jury was sworn counsel
for the prisoner filed special plea set
ting forth facts the same as existed in
the case Of the Commonwealth Us. Roy
all, lately decided by the Supreme
Court of the United States.
To this plea the Commonwealth de-
INJURED, and after argument of same by
counsel for the accused and the Com
monwealth at considerable length the
Court overruled the demurrer and held
that the case Of the Commonwealth rs.
Royal applied to the case on trial.
The Commonwealth thereupon, by
leave Of the Court, withdrew its de-
murrer, and filed a special replication
setting forth that the Commonwealth
had offered to receive the coupons to
be verified according to Coupon.Killer
No. upon the payment Of the tax or
license in money; and also that it had
offered to receive the coupons for yeri-
fcation and Identification in accord
ance with the recent act Of the Legis-
lature.
To this replication the defendant de-
INJURED, and the Court sustained the
demurrer.
Thereupon the further consideration of
the case was postponed until to-day at
10 A. NJ, and the accused, by consent
Of both parties, was admitted to bail 10
the sum Of $1,000 for his appearance
before the court at the next October
term, by which time it is expected the
Supreme Court Of the State of Virginia
will have passed upon the questions in
volved.
Mr.. Jones is drummer for Irwin &
Mcbride, Of Philadelphia, wholesale
dealers in teas. lie has suit pending
for 100000 damages against certain
officers Of the State for causing his ar
rest.
A NEW POINT AGAINST COUPONS.
A great many Of the coupon-bonds
now out, issued under the act Of 1871,
bear the signature Of George Rye as
Treasurer Of Virginia, though when
issued Mr.. Rye had gone out Of office.
The Attorney-General means to take
an early opportunity Of using this fact
in the courts to the best advantage pos
sible for Virginia. lie holds that these
bonds were not executed in accordance
with statutory requirements, and that
while it is debt against the State 1t
is not an execution.
Most Of the bonds first issued under
the funding bill" were registered
bonds, but Mr.. Rye signed an immense
number of coupon bonds in anticipation
that many of the bondholders would
choose to avail themselves Of the privi-
lege that the law gave them Of exchang-
ing at any time registered for coupon
bonds. Not many such exchanges were
made until the funding bill +" had been
repealed and Mr.. Rye had gone out Of
office. Then parties, finding that the
State was going to default in interest,
exchanged registered for coupon bonds
very rapidly, and the coupon bonds
signed by Mr.. Rye we're put forth,
though Colonel Mayo had succeeded
him as State Treasurer.
Mr.. Ayers and other lawyers have
studied up the case, and they think they
can successfully contest the validity Of
all the coupons they can be easily iden-
tilted by their numbers) which were
issued under the circumstances men,
toned.
NO PURCHASE OF COUPON BONDS
THIS MONTH.
The Commissioners Of the Sinking
Fund held an adjourned meeting yester-
day and decided not to purchase any
bonds this month.
The law is the same as was passed at
the session of lSs3-'S5, except that in
stead of 500, 900 per month the Com
missioners are limited to $4,000 per
month. This, we learn, makes no
practical difference, as the purchases
under the law for the last two years
amounted to about 100000 per an-
nnm, or only $4,000 per month.
There was in the Treasury yesterday
to the credit of the Commonwealth a
balance of 1886, 600, and this would be
ample to meet current demands and
furnish the required amount for the
purchase of new 3's. But in view of
the uncertainty attending local option
it was judged most prudent to await
the issue of the election before making
The investment