The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1890-06-26
Cheering Naws.

able settlement
'On the authority of Mr.. Hugh r.
Garden, of the Virginia debt committee,
it is stated that through the active ex-
ertions OF this committee the foreign
bondholders of the Virginia debt will at
once suspend all litigation to force the
taxi receivable coupons into the treasury
OF the State President George c. Viii
liams, of the Chemical Bank, one of the
arbitration committee, with exPresident
Cleveland, in an interview on the debt
to-day said: The securities in question
will be deposited here with the Central
Trust Co. The committee OF reference
will thereupOn fix upon basis of pay
ment according to terms which the State
is able to accede to, and with reference
to the amounts which the several issues
Of bonds cost the purchasers of them.
1t is matter of cOngratulation not only
for the parties Immediately interested,
but for the credit Of the country at large.
This question has been made political
foot ball OF until it has become a dis
grace to the State and to the United
States. The creditors on both sides OF the
ocean will no doubt come to a substan
tial agreement as to what they ought to
receive, and then we shall have to pass
upon the relation between them and the
State. The committee of reference was
selected with view to having statesmen
known beyond the sea, in whom the for
eigners have confidence, as well as bank
ers of prominence here. A speedy set
Element may be expected and standing
reproach be disposed Of 1t is under
stood that the official notice from the
committee of the plan of action will be
ready for publication tomorrow. Its
essential features were given in The San
two weeks ago.
The same correspondent, under later
tional statement: PSI
I'm the Southern colony there is no
happier man to day than Capt. Hugh K.
Garden, president of the Southern So
ciety. With the close of the week he
saw the elimination of the long and zeal
GUS effort made in behalf of the settle
ment of the much-disputed Virginia
State debt, and the most essential details
arranged to have the burden taken off
the people of the State. The New York
papers wake up to-day to the fact that
the negotiations to that end have been
going ON, and print long accounts Of
what was given in The San nearly three
weeks ago. The pooling of the bonds
under the circular issued by the bond
holders committee is assured, and then
|
OF the final plan of settlement to the
Legislature of Virginia. The exact terms
of this will, of course, not be known for
some time yet, but the American COM
mittee have SO far been SO successful that
they entertain no doubt of being able to
satisfy all that the advisory board
Messrs. Cleveland, Rayard, Phelps, Coe
and Williams-shall demand for an equi-
table decision to both parties to the issue
What is specially gratifying to the South
ern financial colony here is the fact that
the credit of the Old Dominion will be
once more firmly established by the
settlement of this question, and the
State will thus be placed in position to
| fully participate in the benefits of the
steady flow of capital now setting SO
steadily to the industries of the new
South They realized that only a small
proportion OF this would be attracted to
Virginia while the vexed and irritating
debt problem remained unsolved.--
thanks to the unselfish and energetic
work of the American bondholders' com
mttee, this is now believed to have been
accomplished"
The waynesboro Company.
Waynesboro Times. wkF#i
Sealed bids are now being received by
the company for the construction of their
hotel, and on the 25th inst they will be
opened and work begun within ten days
from the letting of the contract.
The design of the building shows that
it will be beautiful structure. designed
from Queen Anne and Moorish styles. 1t
will have frontage of about 90 feet,
with 80 guest chambers, large reception
and ball rooms. handsome parlors office,
bar, billiard and sample rooms. A glass
observatory will be erected upon the top
of the building from which a splendid
view can be obtained of the surrounding
country. The estimates are to include
gas and electric light and the heating of
the building by steam and water, one OF
which will be used. Everything will be
strictly modern and elegant. The rooms
will be fitted up in tasteful and luxu-
riOus manner and provided with hot and
cold water, electric bells, etc.
There will be no further delay in its
erection except that incident to cOnstruc
ton of any building of the same size.
DIR. J. E. Arbuckle will probably build
handsome residence on Chestnut street.
Mrs. H. G Patrick has bought lot
and will build fine residence on Chest
nut street. Mr.. c. V. Sutton has begun
work on nice house on the same street.
Messrs John Lambert and Frank Will
son are pushing their residences on
Chestnut avenue to completion.
Mr. T. J. Martin has the frame work
about completed of a handsome resi-
dence on Linden avenue, and Mr.. Geo.
F. Taylor is preparing to erect a resi-
dence on another part of the property.
In addition to this, arrangements are
being made for six or eight other houses
to cost from $1,000 to $1,500 each and
work will be begun on them very soon.
Since writing the above we learn that
Mr.. c. V. Sutton will begin this week
the erection of house on this property.
Mr. w. r. Pierce, of Providence R.
l., heavy investor, was in the city two
days this week. He was so well pleased
that he withdrew all his lots from the
market and will hold them as an invest
Inent which will increase in value every
day.
At the residence of the brides father,
T. Koiner, Esq near Koiner's Store. on
Tuesday, June 10th, Miss E. B. Koiner
and Mr. w. H. Bruce, of Albemarle coun-
ty, were married, Rev. A. F. Laird. of
Mt. Horeb church, officiating.
The Tin Plate Record editorially claims
%hot 10 inn in