Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1891-06-04
The Debt Conference.

The Joint conference betReen the Ocott
committee and the State debt commission
closed in Richmond yesterday morning for
the present, and the members Of the former
returned to New York. The most perfect
good feeling characteriz sd all of the meet
logs, snd it Ia believed that they will result
in better understanding between the State
and the holders OF the bonds than hes ever
existed before. Mr.. Hugh B. Garden end
Ills associates manifested an earnest desire
for the representatives Of the State to indi.
cate what basis of settlement they would be
willing to recommend to the Legislature.
II Ia not believed, however, that this was
done to any definite degree. The whole
thing seems to turn upon the construction
of the Riddleberger bill and its amendments.
II Ia stated almost positively that the differ
ence between the plan submitted by the o..
colt committee aud-the Ridd eoerger act,
with ak millions of coupons eliminated,
amounts to several millions OF dollars. The
discussion OF the O!oott plan opened up the
whole question OF the States revenues and
annual expenditures During the explana.
ton Of these it was intimated that the su-
perintendent of public instruction, in his
next annual report, will probably recon-
mend 40 increase of 100000 for public
schools.
After the departure of Mr.. Garden, and
his associates for New York the State ccm-
mission remained in session for several hours
considering the whole subject of the negotia-
tions. When the body adjourned Lieut.
Gov. Tyler. one of it's members, gave out
the following as the uttersnce of the COM
mission "a discussion of the subject has
been held, hut no conclusion has been
reached. The negotiation is still pending,
with an evident disposition on both sides to
reach a favorable conclusion. Negotiations,
however. are not in such condition that
the details can with propriety at the present
time be made public"
This statement is believed to have been
concurred 10 not on " by the Virgnians,
but by the O,oott people as WE'LL The plea
seems to be for Mr.. Gardens committee to
return to New York and inform the bond
| holders exactly what bes taken place be-
| tween the TWO PARTIES. In addition to thet
the New Workers will no doubt give their
clients the benefit of other and equally az
valuable information about the sentiment
| existing in the State derived from other
sources. When they shall have heard from
the English bondholders iftbeir nfor NATION
is favorable toe commission will no doub.
be called together again. While no one
will say that anything definite has been
| agreed on at these conferences the
feeling is that they may eventuate In the
parties coming together. Mr.. Garden and
| his Observation-Disclosures are taking the
| deepest interest In these matters and they
have already gone 80 far in it, it is believed,
that they will use every exertion TO COM
plete their work.
The result of the conference may be sum
med up in the following statement of a
prominent member of the conference to au
Associated Press representative:
I'VE had pleasant two-days' session,
during which crude plan for adjustment OF
the debt was presented by the o colt com
mittee. This was discussed pro and COZ.
The great principles Of the plan OF settle
ment have yet to be agreed upon. Still. a
solution of toe matter is looked for at some
future time. These principles will have to
be clearly marked and deined before minor
details OF the plan Of settlement can be dis
cussed with any degree Of success"
The Richmond Dispatch says: "As to the
difference between the basis OF settlement
proposed by Mr.. Garden and associates and
the Riddleberesr bill with the six million
dollars 10 coupons eliminated. there ia d.
Versity of opinion. Il seems to he conceded.
| however, that the difference amounts to sew
eral millions. It Was rumored in financial
circles during yesterday afternoon that the
difference wss about 100000. That 1t
| was somewhere in tie neighborhood OF this
amount there is not the slightest doubt.