New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-12-01
THE VIRGINIA STATE DEBT.
Ey6nsH HOLDERS CONDEMN THE LATEST PLAN
OF SETTLEMENT.

EN6LAch HOLDERS CONDEMN THE LATEST PLAN
OF SETTLEMENT.
London, Nov. 3o.-seveIal interviews were had to-
tsy With leading English holders Of Virginia bonds In
Ngd 10 the latest plan for funding the State debt.
An M@the men interviewed were bitterly opposed TO the
proposed plan of settlement
N Cooper, the secretary of the COMMITTEES OF En-
A holders. said that only outline of The PROPOSE
ion had been cabled Until the full document, which
coming 10 England oil the steamer Etruria. was
ntslyed no meeting of English holders would he con-
wnA In the meantime every opinion that had been
d expressed to the effect that the proposition
vE untenabe.
Mr. Trotter, the principal member of the committee,
considered the plan utterly niquitOus. The holders,
he declared, would decidedly prefer to keep what
hsal grip they had on Virginia in tax receivable
coupons rather than accept terms which greatly
hsVcient and which lift them to rely on the honor
dm men who had already shown that they were lacking
h the sense of honor. Virginia was able to pay her
tdt but tn, question had long passed out Of the
lands Of the old honorable Vlrgnians, and had become
,oieal one. controlled by carpetbsgger and negroes
Who dragged the honor of the state through the dirt
W.T. their coupon-lller measure. He was for peace,
Bot MOI at the price offered in the plan. 1t would be
s for the holders to fight, and to carry their claims
ron court TO court The proposal he made TO the
wmnittee some time ago expressed absolutely the
byest terms possible to accept. Mr.. Trotter said he
esw that Sir John Lubbock Mr. Littledae and others
ThO authorities concurred in the belief that the
&ders ought not 10 agree to accept less.
private holder who was met in the secretary
tnce, and who did not wish his name publlshed
ssesred that the proposals were farcical. He knew
De details Of the plan through private cable dis
Ni'hes. When the meeting Of holders was called
vas certain they would unanimously reject with
non and contempt worse terms than they could nave
%, ven years ago
ms remark being mentioned to Mr.. Trotter sub
seq1sniy he said that, whatever the holders might
aVs got ten years ago in the way OF terms the con
"uohs we're the same then as now. What reliance
"sh placed in the honor OF the men offering them9
We would have no security whatever II we sur
1DasdO our tax receivable coupons for the newly pro-
Hed lsaes
NJ fsnklb of A. Keyser & Co.. foreign bankers OF
~S uy, said that the impression made upon him
we Dew proposal was unfavorable, but that the
OoHuohss expect the terms OF the proposal to be
Un''d 10 them as arranged In the agreement
~ Tp0st BY this agreeme,.4. It was provided that
Ocefs not satisfied with the proposals shonl1 have
~ osys 10 withdraw their holdings, and that a
ss,vn.g OF any group would have the right 70 Win
al Asl group. II this was not done, MI. Fiankln
" srat resistance might be eXLecfed. ~
40 NeVerss. a noted financler, who holds S2OOO,-
,h soth OF Virginia bonds. and Vivian, Grey q Co.,
risaN N u 100000 OF those securities, are also dis
'',ssn@ with The delays.
:, ,GIina bonds on the Stock Exchange closed to-day