The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-12-01
VIRGINIA'S COMPROMISE.
ENGLISH BONDHOLDERs DON'T
LIKE III TERMS.

The Principal Member Of the Commit
tee Expresses Himself IN Favor of
Holding the Grip They Already Have
on the state Through the Tax Rsceiv-
able Coupons.
LONDON, Nov. 30.-Several interviews
were had to-day with leading English hold
ers of Virginia bonds in regard to the latest
plan for funding the state debt All Of
them we're bitterly opposed to the proposed
plan of settlement. Mr.. Cooper. secretary
of the committee of English holders, said
that only an outline of the proposition had
been cabled. Until the full document.
which was coming TO E gland on the
steamer Etruria, was received. no meeting
of tine English holders would be convened.
In the meantime every opinion that he had
heard expressed concurred that the propo-
sition was untenable.
UTTERLY INIQU IToUs.
Mr.. Trotter. the pri lcipal member Of the
committee, considered the plan utterly
iniquitOus. The holders, he declares. would
decidedly prefer to keep what legal grip
| they had on Virginia on tax receivable
coupons than to accept terms which were
greatly insufficient and which left them to
rely on the honor Of men who had already
shown that they were lacking in a sense of
honor.
Virginia was able to pay her debt, but the
question had long passed out of the hands
| OF the old honorable Virginians and had
become political one, controlled by carpet
baggers and negroes who dragged the honor
Of the state through the dirt with their
| coupon-killer measures.
PEACE TOO HIGH IN PRICE.
He was for peace, bat not at the price Of
| fered in the plan. IL would be better
| for the holders to fight and carry their
| lalms from court to court The proposal
he made to the committee some time since
was absolutely the lowe,t terms possl BILE to
accept. Mr.. Trotter said he knew that Sir
| John Lubbock, Mr. Littledale and others,
| who were authorities, concurred in the be-
lief that the holders ought not to agree to
accept less.
DECLARED FARCICAL.
A private holder who was met In the
secretary's Office and who did not wish his
| name published, declared that the pro-
posals were farcical. He knew the details
of the plan through private cable dispatches.
When tue M citing of holders was called it
certainly would Unanimously reject with
scorn and contempt worse terms than they
could have got years ago Mentioning
this remaek to MIR. Trotter subsequently,
that gentleman said that whatever the hold
ers might have got years ago in the
ways of terms and conditions were the same
then as now. What reliance could be
placed in the honor of the men comforting
theml I'VE would have no security what
ever if we surrendered our tax receivable
coupons for the newly proposed issues"
FRANKLIN AGAINST ACCEPTING.
Mr. Franklin of A. Keyser & Co., foreign
ha nj Of aitv hot
sion made upon him by the new proposal
was unfavorable, but that the bondholders
expect the terms of the proposal to be sub
united to them as was arranged in the
agreement of deposit. By this agreementit
was prov ded that holders not satisfied with
the proposals would be given sixty days to
withdraw their holdings, and that a ma
jority of any group would have a right to
withdraw that group. If this was not done,
Mr.. franklin said. great resistance might
be expected.
Mr. NewZrass, a noted financier who
holds 100000 of Virginia bonds, aud
Vivian Grey q Co., who hold 1000, 900 of
those securities, are also dissatisfied with
the delays. Virginia bonds on the stock
exchange closed to-day at Az.
THREE GLASSES OF HOLDERS.
LONDON, Dec. 1. ga M-The Times, In
its financial article to day, says, persons
interested in the Virginia debt bonds may
be divided into three CLASSES: First, those
desiring an early settlement of any kind; so
that they may secure profit from bonds
which they bought cheaply; second, those
who are not content with the present
scheme, because they purchased the bonds
at high figure; third those who will lose
by the scheme but who want the matter set
tied in order to facilitate further rail-
way enterprises. etc., the last mentioned
class is a large one, but sis composed of
small holders. The second class is largely
in the majority, aud if content to wait
| patiently and remain firm it will certainly
get better terms, because the business com
community in Virginia will insist upon a
settlement"
Arouse the faculties, stimulate the circu-