The times. [volume] (Richmond, Va.) 1890-1903, 1891-06-04
IN FAVOR OF A SETTLEMENT.
That Believed to be the Desire Of the
New Workers.
SECRET SESSIONS OF The COMMISSION.
r,terxicvv with Colonel Runin, Who Thinks
the People Know What Was Done
About the State Debt.

The Olcott committee had another confer
ence Yesterday morning with the State Debt
Commission at the Capitol
The conference however, was of only short
duration, and at 1850 A. NJ. the members OF
the committee boarded the north-bound train
to return to New York.
In the meantime the commission continued
in session until after o'clock in the after
noon
1t is pretty well understood that the bond
holders. through the Olcott committee, sub
mitted their plan of settlement, which some
time ago had been approved by ex-Presldent
Cleveland and his associates.
1t is conceded that there IS difference pc
tween the basis of that plan and the one re-
commended in the Riddleberger bill wlth.the
six million dollars eliminated. This differ;
ence. it is said, seems to amount TO several
millions.
THE COMMITTEES PLAN.
The commissioners, it is believed, did not
accept the plan proposed by the committee,
but the latter seemed 10 be anxious TO learn
from the representatives of the State what
basis would be agreeable 10 be recommended
TO the Legislature.
general discussion Of the revenues and
expenditures of the State was INDUCED in,
but outside OF the Riddleberger bill no plan
was definitely outlined.
While the members of the OIcOtt committee
did not directly state 80, the impression pre-
walls that they were committed 10 the plan
represented by them, lnasmuch as 1t has been
approved by the bondholders.
They appeared 10 be DESTROYS, however, TO
be placed in a position where they could sub
nit something which was Endorsed by the rep
resentatives of this State
That the committee came here only with the
intention of sounding the State authorities
and await their disposition in the matter was
indirectly admitted by one Of the members
while in conversation with a representative OF
The TINES.
During the discussion of the expenses ofthe
State it was intmated that the next report OF
the Superintendent OF Public Instruction
would probably ask for an additional appro-
priation Of 300, 600.
The representatives from New York GER
tainly are in favor of settlement. IhelI
people are in the possession OF the bonds ana
the only question seems 10 be now TO arrive
at basis acceptable TO the bondholders.
All these matters have been thoroughly DIS
cussed during the conference.
A WRITTEN STATEMENT.
When the Debt Commission left the Cover
nor's Office shortly after 2 o'clock yesterday
afternoon a written statement was given out
which had been drawn up by one OF the MEM
bers of the commission with the consent OF
the others. ,,
1t stated that the negotiations were still
pending between the commission and the
committee.
The hope was expressed that these negota-
tions would eventually result in something
definite For the time being it was deemed
advisable not TO make public the details OF the
conference.
Ii is understood that the members Of the
Alcott committee returned TO New York TO
confer with the bOndhOlders and suggest to
them the outlines of plan under which the
negotiations with the representatives OF THIS
State might be brought to satisfactory close;
A gentleman who is usually well Informed
on all State ma ..ers. when spoken to yester-
day by q representative Of The ZINES IN re-
gard to the outcome of the several confer
ences gave as bis opinion that the State GER
tainly would not suffer by it.
This remark at first caused the impression
as if a settlement might have been agreed
upon by the two committees. However, THIS
idea seems to be an erroneous one.
NO SETTLEMENT.
Several of the members of the commission
were during the day seen by a TINES reporter
and they assured the latter in the most posi-
tive terms that no such settlement had been
arrived at.
One OF tu6 members OF JLt cOuiullSolDil CA
pressed his regret that the proceedings had 70
be kept secret. but this policy had been
adopted by the commission.
The whole subject was of such complicated
nature that public discussion of them was
very apt TO lead 10 misunderstanding and
misrepresentation which might prove III
furious TO the interests of the State.
From all the information that could be
gathered it is apparent that the conference
will have some beneficial result.
The representatives Of New York have re-
turned home much enlightened on the sub
ject. and they will be in position 10 tell the
bondholders that the representatives Of this
State who would have 10 agree on plan OF
settlement. are by far better posted on the
subject and have much greater knowledge
Of the state of affairs n regard 10 the debt as
the bondholders felt inclined to credit them
with.
COLONEL RUPFIN.
Colonel Frank G. Rufin, the Second Aud
itOr Of the State, when asked yesterday If he
had received any information in regard to the
outcome of the debt conferences, said that he
had not.
Nothing has been communicated to me on
the subject" Colonel Ruffin continued Il
make no complaint of this on my own ac-
count. As for my position have probably as
much information as is necessary for me, but
/ think it is 10 be regretted that the COM
mittee decided to keep their proceedings
secret as in my Judgment the people have a
right 10 knOwall the facts about u matter that
concerns them so closely.
They are perfectly competent to form cor
rect opinion as TO what the settlement should
be without waiting for the result TO be an
nounced from the Joint committee, especially
as the Legislature will have to pass upon any
settlement to be made.
THE people should know the facts upon
which the Legislature is expected to act, so
that II they see fit. they may instruct their
renrpsppfat tho r,aftar