The Big Stone post. (Big Stone Gap, Va.) 1890-1892, 1891-06-19

;;s.y,ts o: !;;c Conference Wit! the State
Cc:n:aisSo:s---i:i Extra Session oi the
legislature Necessary.
*. Y. SUM-

Every SoN;herncr, and especially every
Yifginian Of standing, when lie arrives III
New Yorh nowadays. is asked when n
ginia INTENDS 20 pay her Gefauited bonded
debt. Something ike $i,00o,eoo OF THIS
debt is held in this country and about
So eco 600 in Great Britain. It has hurt
lhc States credit because inancicrs on
beth sides Of the Atlantic have been
wa,v Of enterprises sheltered by the CD
Dominion. The Englishmcn have been
osnecially savage, and all visiting South
cruers to London have been greeted with
announcements that until The debt is met
virginia need not expect aid fer its tinan-
c;a and industrial enterprises
The Southerncrs decided over year
AGO 10 get 10 work and sec il 'hc State
couldn't be impressed with tic situation
\ bondhodcrs' committee was orSam'zoo'
consisting Of Frederick J.. Oicott' lr res,
don't .. the Central Trust Company; " H.
liam L. Bull, cx-rrcsdcnt of the STOCK
Exchanges; Henry Bulge, OF HalISar'eh
4 Co.; Charles D. Dickcy, Jr., OF Brown
Brothers; Capt Hugh G. Gardner and ) ohn
en- thc latter of baltimore. An advis-
o~v Board was appointed, comprising
Grover Cleveland, Edward j. Phelps
Tbnmas =. Bayard, President George ;;
Coo Of the American Exchange National
Ront and President George e. Williams
nf tho Chemical Bank. The repositories
If the creditors are the Central lrus'
Comnanv. Brown, Shipley Co.. Lonaoh'
tha Merchants Trust and Deposit Com
n.ny Of Baltimore, and the Planters M: Ma
tional Bank OF Richmond. e. >. .,I I'ins
vas made secretary OF the bonuhoiult .
committee, and he was sent TO Ens'ahu ~ ~
negotiate for the deposit Of inc oonue
held by the foreigners. he returned ses-
cral weeks ago, having secured ior ~, u''
committee control Of So per cent. OIL ,ne
dor,r1,cd bonds The committee mas 'n'
cover of attorney to dispose OF the o ,1us
~ the best terms possible. But 'hest
sorn,s must be arranged with committee
a ~. ,l, by the Virginia Legislature Oh
March 5, 1850. cor Mc.
TSis commission consists Of Gov; ~. NC &C.
Kinney. Lieut.-Gov. j. Hosc 1yic.
Sneaker r. Fl. Cardwcll, Senators oe' .
a,.d Wickhan, and Delegates DaDnes any, wv
Tyler. The Commission was lns'. ,u;' 81
..;ha, no proposal shall be enter'a!he =
which IS net supported BY no deposl. ~ y
cast, of not less than = ,Ooo'ooo IN suo'
depostory as said Commission may ass,e s,
uoIe 70 insure the faithful reriorm4aieecs'
Of Che proposal if accepted anu ra'''e'
as hereinafter set forth. ~ o,oott
40 ,r ~, committee, headed by Mr. ulep. ~,
;ssued u circular announcing o ln nao ne u;
we're ready to deposit The $icoo wv; io ND,
flat their plan was TO deposi. 'ac' = Tea lea
a amd' reneiye in return new bonds 20 gea
snch rate Of interest and to have suelpea =
emptions, and 10 be OF such c'iafa aaS H. h
,be Representatives Of Virginia ana 'd e
e con- consider best caleIia1e Tee y
siye them the standing they VIII "a uuss' :
I r the en- money markets of the World .s,;so,
] - This was accepted By the Aas's 81
Board Capt Gardner, DIR. bal', a - p G.
a ooa Of the Olcott committee weht!o hlt ~
o,s d and had conferences win ~
States Commission. All ii,e :, se es;aud
we're ere secret. Capt. Gardnerana his 'f'en0
4 seems that at the conferences, - : t H.,
/ set forth by the Virginia Goi'n'ss.o'1 ~