Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-11-18
THE DEBT PROBLEM.
CONFERENCE oFTHE STATE coMMIs-
SION AND oLcoIT COMMITTEE.
In Session Two Hours-The Best Of Feel
ing PrevaIIs-A subcommittee
Appointed.

The Virginia State Debt Commission
and the olcott Committee. representing
tho bondholders, met in conference IN the
Office Of the Governor Yesterday afternoon
at o'clock and were in session until B..
Previous 10 the assembling OF the con
ference there was a meeting Of the COM
mission. At the joint session of the two
bodies there were present all the members
of the commission, consisting OF bis Ex-
eellency Governor Mckinney (chairman),
Lieutenant Governor }. Hoge Tyler, Sena--
tors Berry and Wickham, Speaker CardEell, and
Delegates Dabnsy Of Albemarle and Tyler OF
Prince william. The Oicott Committee were
represented BY Mr.. OlcOtt lchairman), MT. bnll'
Captain Hugh r. Garden, and General GIL Mt.
Ellis, clerk OF the committee, and Colonel w. w.
Gordon and Colonel Tom Smith, OF tauIulor'
were also in the conference-rOom.
INTERCHANGE or VIEWS.
Most Of the timo was spent In the interchange
Of views Mr.. Olcott was not present at the pre-
yiCus conference, and IL soon ranspired tnht
many dc als regarding tho situation, tho state 8
financial condition. her necessary expenditures
&c, which mad found lodgment with other
members OF his committee we're not fully known
% him.
The conference was most pleasant and there
was developed on both sidesa desire 70 reeeh a
earnest, and the great question With the COM
mission Is whether they can agree 70 terms
satisfactory 70 the committee which they can
sustain, and tho State In justice 70 herself can
meet.
sUB-ooHsuTTRE APPOINTED.
About half-past o'clock q preliminary step
was taken which seems 70 have IN 10 the promise
Of closer business relations to-day. sub-con-
mittee consisting on the part OF the commission
of Messrs. Berry and Dabney, chairmen re-
spectively Of the Senate and House Finance
Committees, and on IA part Of the committee
OF Mr.. Olcottiand Captain Garden, we're appoint
Cd 70 confer and see n they couid not agree upon
a basis Of settlement 20 be submitted 20 the tull
conference this morning at 10 O'Clock.
In the lobby OF the Exchange Hotel yesterday
morning and last evening some figures were
mentioned as covering the proposition OF the
committee, but 20 make them public ct the
present steg8 Of the negotiations would DO pre-
mature The impression mat the present pro
position IS more favor be than tho one hrst
presented Ia confirmed from both SIDES, ana the
committee seem % appreciate fully tho aversion
Of the people Of Virginia % any scheme OF set
tlement that involves the tax-receivRblo coupon
feature. In this connection h may De men
toned that yesterday General Gil received q
telegram from tho Baltimore ana Ohio railroad
Company, which corporation holds large blocs
OF coupons, authorizing him 70 commit the com,
pany 10 any settlement that might DO agreed
upon. At the conference yesterday morning mr.
OlCott opened the discussion for the committee
BETTER SPIRIT.
One OF she State commissioners when asked
yesterday evening whether no thought the two
sides would come together said: 81 cannot SAL
that, but there Is n much better spirit on tn'
part Of our people than had expected 20 see.'
Another Virginia commissioner when th'
query was propOunded % him how long the con
florence would be In session said: u am Wilunl
70 stay here a month II We can settle the debt"