The times. [volume] (Richmond, Va.) 1890-1903, 1890-06-07
THE VIRGINIA DEBT.
Details OF the Plan OF the Oricinators ef
the scheme to bc Made Public ~ Soon -
Conspieted-Generai New York News
and Gossip.
NEW YORK BUREAU !
RICHMOND DAILY TIMES. ,
limo X. i<D0. l

June 8. iSD0.
Certain Southern men prominent in the
financial colony here. have for some time
been at work on the problem Of how to adj
just the old Virginia debt in way that will
be practical TO THE resources Of the state,
and fair to the holders OF the
bonds. They were satisfied that
the issue could never be settled by Iitiga-
tion, and, therefore, have quietly been pre-
pairing a scheme Of compromise. They saw
that until this hong vcxed question was rct.
tied it would be vain TO hope that Virginia
| could fully participate in the inflow OF cap
ital giving snch an impetus TO the in
dustries OF the new South. This,
with the natural desire to uphold the
honor of the state. whose good faith In the
matter has been shown by the twenty-six
millions paid already since the close OF the
war, has. IL is believed. resulted happily.
The great trouble was TO keep the plans irom
being spoiled by demagoguc politicians and
greedy Spectators before the necessary
connections could be made. This has been
accomplished.
The Central Trust Company has had
great success in reorganization schemes.
and President Olcott will give the debt
solution the benefit OF his most earnest zeal
and experience.
EX-PREsIDENr CLEVELAND
has become much interested In the plans.
and is very anxious TO help to perfect them.
The advisory board, Of which he is a men,
Der, have not had the full details laid before
them yet. and consequently have taken no
action further than consenting TO perform
the duties 10 be entrusted 10 them.
Somany of the bonds were held in England
IL was necessary to convince the holders
there Of the certainty Of fair treatment.
This has been accomplished BY the high
character Of the men on the board of arbi-
tration. All that remains now for the sub
mission to them Of the proposed plan Of set
tlement is the completion Of few minor
details in London.
MOVING WITH CAUTION.
THE TINES correspondent learns this
evening from unquesti0nab,e authority that
these will all be settled In a few days. and
then the whole scheme will be made public.
There will be no haste. Every move IN
being made with caution and slowly, so as
to make assurance dOubly sure.
METROPOLITAN ME,;rIoN.
About one thousand men belonging 10 the
building trades were ON a strike to-day in
New York, on buildings for which Peck,
Martin X Co.. a b0ycotted firm, are furnish
ing the material. 1t is expected that fully
one thousand aud more men would Join tho
strikers Tonight.
The Supreme Court, general term, to-day
affirmed the conviction and sentence Of es-
sheriff flack and his son, VIII. in con,
nection with the Flack fraudulent divorce.
The eN-sheriff viii now have to serve two
months in the city prison and pay 500 fine.
and william Flack will have 10 nut in four
months in the penteDtiary in addition 10
paying the same line rs his father.
Among the 5T2 immigrants landed ut
the barge Office this morning from the
party Of sixty Arabs, bound for Worcester.
Massachusetts. They are detained for
and II evidence can
be secured they win he returned to Europe
under the contract labor law. Contract
Labor Inspector Lee this morning caused
fifteen lIupgarians that arrived on tho
Rlynland, this morning, to be detained for
as contract lab0rcrs. They
were going 10 the mines in PENNSYLVANIA.
The Brooklyn Bank has Brought suit 10
recover five hundred dollars on note
drawn by Fry the fat " James =. Foster,
on tlie Bowery Bank, In favor OF ID. W. Tai
mage and George G.. Martin, aud endorsed
by Franklin Woodruff 4 Co. This il an
ing done for Quays eat!Onal committee.
There was u tobacco sensation to-day IN
the announcement that the great cigar firm
Of straii0n & storm had sold out 10 the owl
Cigar Company, corporation Just formed
with 81 100000 capital. George storm holds
the majority of the stock. The firm. made
100000 cigars a week. The object OF tho
change is said 10 be to forcstall any comhi-
nation on the part Of rival jobbers.
RAILROAD EARNINGS.
Louisville and Nashville, fourth week
May. 1890, SJl1 $50; 1889. $iGi .J3J; increase.
S5G.o,5. Month. iss0. sI.s5o. 2o5: iSsd. ST.,
;ls2, $50; increase, xiI6,J2J. From July I.
1890, SlI,3i2, ,7l9; 1889, slj, ,5iI; increase,
81, 10, ITS.
Chesapeake and Ohio. fourth week May.
1880, S223, 1886; 1889. Sl'ilti>3: increase, SGi.-
5li. Month. 1890, sbag,sI3; 1882 si1s,oi3;
increase, slj3,Sip.
TNG POLITICAL SITUATION.
Mr.. toker's return freshens up politics,
which had begun 10 languish, owing 10 the
hot spell. He will appear before the Fas-
sett Committee on June 10th. to tell his yer-
sion OF the recent stories about the political
corruption attributed 10 Mayor Grant and
his confreres in the Tammany "big four"
According TO present Indications. the i'm
p0rtant local contest in the fall will bs
rammany against the field. Tho Grant
clique In Tammany are making an effort 10
have him renominatcd as yindication.
The opposition TO this idea Is by no means
weak. The Republicans are tending Ia a
citizens nomination, combining all anti
Iammany elements on some man like
Chauucey NJ. Depew, on W. W. Astor. II
Is TOO early % predict.