Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-06-02
TO-DAY THEY CONFER
VIRGINIA COMMISSION AND oLcoTT
PEOPLE TO MEET THIS MORNING.
The Former Holds Secret Sessions OF sev-
erai Hours-That Million Dollar De-
posit-Democrats In Council

meet IN conference in the Executive.ofice
IN the Capitol building. All seven men,
bers OF the former body will probably be
in attendance, but 1t is not likely that
more than three of the New York fnan-
ciers will be here.
The chances are that this msrning's ses-
SION will be of a purely preliminary charac-
yer; Ii IL not likely that any proposition
VIII DC submitted or any other material
steps taken further than to talk over the
subject in general way and to exchange
views az 20 the States real Obligations, aud
the condition of her finances.
THE COMMISSION MEETS.
The Virginia Commission, which was
created under resolution Of the General
Assembly adopted just prior TO the close
OF the last session, met yesterday for the
first time.
There were two sessions held. One lasted
from IL noon until about o'clock and the
other from p. NJ, or thereabouts. until a
few minutes before midnight. The body
held its meetings in the Governors Office
with tightly-closed doors and the only ap-
proach guarded by member of the Capt.
tol police force, 10 prevent the entrance of
neWspaper-men or others, not members
OF the commission.
II was understood beforehand that the
proceedings should be secret and that only
| the chosen seven and possibly two or three
| OF the leading men of the State, well ac-
quainted with the details Of this subject
| should be present.
At the opening meeting there was no out
slider, but 1t is understood that in the eve
ming Hon. John f.. Massey, than whom no
mani Virginia knows more about the State
debt, was a member of the company. Mr.
Massey has always taken a deep interest in
this subjeCt-has made a careful study Of it
| and Is thoroughly familiar with all leg.sla-
ton bearing thereon. He is known as the
father of readjustment, was once Auditor
| OF Public Accounts, served term as Lieu
tenant-Goyernor, and is now Superlntend-
ent of Public Instruction.
READY FOR BUSINESS.
Governor Mckinney was chosen as chair
man OIL the commission. The other men,
| beTs. all of whom were present, are Lieu
teuant-Governor J. Hoge Tyler, of Pu-
| lasBi; Speaker r. ii. Cardwell, of Hano-
yer; Senators Berry, of Amherst. and
Wickham, of Hanover and Delegates Dab
| nev. of Albemarle, and Tyler, of Prince
William.
Speaker Cardwcll and Senator Wickham
being residents of the adjoining county
| and in tho city almost daily. have had fire.
quent conferences with the Governor on
| the subject of the pending negotiations,
| and are acquainted with the nature Of all
the correspondence that has passed upon
the subject. The other members-Lieu-
tenant-Governor Tyler, Senator Berry, and
Delegates Dabney and Tyler, or Prince
Willam-reSide in more distant sections
| of the State and have not had these oppor-
tunities. 1t was necessary, therefore, that
much time should be consumed in going
through with thorough explanation of
all that has occurred in connection with
the negotiations.
THE MILLIoN-DoLJAR DEPOSIT.
The resolution creating the commission
provides that there shall be deposit of
81 100000 made bv the bondholders,
or their representatives,, before any
proposition shall be entertained. There
has been some division of opinion
as to the proper construction OF
this clause of the resolution. Some
hold that under IL the commission cannot
receive, discuss. or consider any PROPOSE
tion until tho deposit has been made.
Others give il "a broader Interpretation,
and take the ground that deposit Is not ne
cessary until a proposition is made, such
as the States representatives would be
likely to report TO the General Assembly.
The probability is that the latter view
will be taken by the commission. In fact,
it is understood that three OF its members
place this construction upon the leglsia-
tive provision, and that some OF the others
manifest IN inclination to coincide with
them.
CAN PUT UP THE MONEY.
That the bondholders' committee can
nroduce the 81, 600. 900 IN cash if it is found
necessary there Is no doubt. Its members
are all men of wealth and of great finan-
cial influence, commanding large sums of
money. 1t would perhaps cause them
slicht Inconvenience TO do this, and they
are understood TO be unwilling to do so
unless the negotiations reach such stage
as TO give reasonable promise OF the ac-
ceptance of their offer.
The idea that now prevails, whether pro
perlv founded or not, is that the commls-
sion will probably decide not to insist upon
the money being deposited until they are
handed n proposition which they can en-
tertain and recommend for legislative
adoption.
TO DISCUSS FIGURES.
OF course one Of the fundamental ques-
tions 10 be considered by the conference
is what amount of money the State OF VIZ
pinia il able to put aside annually for the
payment of interest. The creultors
committee will readily see that 1t Is useless
to ask for ANYTHING more than can be met
by the States revenues. 49,,
To make this matter as plain as possible
and to afford every facility it ls under
stood that the financial officers OF the state
have had several tabular statements made,
showing in detail the resources OF Nlr-
oinia. from what sources her reve-
nue comes, and how the money Is
expended. These figures, It is safe TO say
will differ from those issued some time ago
by the Olcott committee, and they VIII
undoubtedly be more accurate, as the Au-
ditor has better OPPORTUNITIES of knowing
inst what the State receives ana for "hat
II is spent. These tables will be OF great
value. -
Mr.. GARDEN IN RICHMOND.
Mr.. Hugh +. Garden, one of the leading
members of the Olcott committee and the
moving spirit in the effort which resulted
in "h1yinrn the bonds. arrived IN the city
Yesterday morning and is at the Exchange
ifttr breakfast Mr.. Garden called on
Colonel w. w. Gordon, who has acted as
Richmond counsel for the committee ana
with whom there has been more or less
correspondence.
Westmoreland Club, where he spent the
Greater part of the afternoon and evening.
He will be ioined here this morning by, MT:
Rrli and MIR. J. NJ Mason, formerly OF
West Virginia, and perhaps one OF TWO
others.
DEMOCRATS HOLD CONFERENCES.
Some of the most prominent Democrats
in Virginia are III the city In connection
with the debt matter. Senator John W..
Daniel arrived yesterday morning; Mr..
Thomas Martin. of Albemarle, a member
of the State Democratic Committee, has
been here for a day OF two, and Hon.
Tohn S. Barbour, who was for several years
chairman of the Virginia Democracy
came in last night on the late train.
As Senator Barbour walked into the Tx
change last night be was accosted oy a
DISptTcu reporter for news, political or
General. ,snt but he said he knew OF nothing
Fiat would interest the pubic. he ~
looking quite we'll and is enjoying tho pest
Of health. Mr.. Barbour will probably DC III
the city several days. ~, o-ors
The gentlemen named held numerous
conferences yesterday and last hlShte
among themselves and with members OF
The Debt Commission. State-Chalrinnn D.
Taylor Ellyson was in one or more Oh these.
There was quite q long conference AZ Ine
Westmoreland early in the evening aAu IN
ne afternoon Mr.. Ellyson took senator
Daniel. Lieutenant-Goyernor iyler'. anu
Mir. Martin out driving.
PERSONNEL OF THE COMMITTEE.