Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-05-07
EXPECT TO CONFER.
THE VIRGINIA COMMISSION SOON TO
MEET THE NETWORK COMMITTEE.
Mr.. Ellis Expected In New York To-Day
with the Plan of settlement
Talk In Richmond.

There is every indication that there will
soon be aconference held between the Vir-
ginia commission and the New York CON-
mittee In charge Of tho negotiations looking.to 10
the settlement Of the State debt.
The latter organization, through letter TO the
Governor, have signi6ed their dosire to have an
iaterview with the States Representatives, and
there has not been raised, nor indeed does there
seem to be, any objection to this on the part OF
our people.
IL " the very general beiiefhere that there win
be conference Of some kind. Whether il will be OF
avery formal character or Of such an oflcial
nature as viii warrant tho Olcott Committee In
submitting plan Of settlement IL not known. IL
may be That II will be only preliminary tax
with reference TO the feasibility Of further pro-
ceedings.
THs PLAN AGREED UPoS.
Definite Information has been received here TO
the effect that the bOndhOlders in London have
agreed upon plan OF settlement. This plan, IL
Is asserted, has been placed in the hands OF Mr..
Ellis. an expert accountant and hnancier, who is
due 20 arrive I'm New York to-day.
The details Of this measure, which Is under
stood 70 have been drawn in complete shape,
are not known, but the idea prevails that 1t ls
simply the plan adopted by the Olcott Commit
tee with such revision or amendments as the
creditors thought proper 10 suggest. IL has been
intimated that "a soon as Mr.. Ellis reaches
New York and the Debt Committee there
have mad an opportunity TO carefully eX-
anime the papers brought over by nun
copy OF them will be made ana ior-
warded TO the Governor. OF course II there have
been any radical changes from the original,
which II IL not believed there have been, there
may be some delays. The committee, though,
have i1a been in pretty constant commq9lca,
know In advance the substance OF such
alterations as they will be asked to make.
TO CONVENE THE COMMISSION.
The deepest interest has been felt here regard
ing the letter recently received by Governor
Mckinney; but those who have read IL observe
unusual reticence and little Is known of its con-
tents. There Is rumOr, however, based upon
what seems TO be unquestionable authority that
the Governor will consent, If he has not already
done 20, 20 convene the commission promptly.
IL Is said that the OcOtt Committee will
offer to fund Immediately nine tenths
Of the coupon bonds on the principles OF the
Riddloberger bill. Though tho Information now
TO be obtained on this score IL meagre the out
look Is generally regarded as hopeful
IL the committee Is really prepared TO DO thls
there remain many important points TO be de-
termined One that will perhaps cause more
discussion than most any other Is whether the
coupons outlawed by the Wickham amendmeht
shall be entirely debarred under the proposed
settlement. There has already been great
deal Of talk on this question.
WANT AN EXTRA SESSION.
The virginia Commission has never had
meeting, and IL therefore not organized. IL was
not intended that it should do so until there was
something tangible awaiting its consideration.
II tho Governor Is made aware that proposition
IL ready TO be submitted, the Governor will no
doubt call the body 70 order at once for organi-
cation.
Recurring 10 the Olcott letter It is rumored In
some quarters that the New York committee IN
dicated tO Governor Mckinney their preference
20 deal directly with the General Assembly,
which has full authority, rather than with the
Joint committee, the powers Of which are cifcum-
scribed, and which Is only authorized 20 treat on
the basis Of the Riddleberger bill.
Some think, however, that the Olcott Commit
tee only request that n day and place be
named when and whore they can meet our COM
mission and present the plan supposed now 10
be In the hands Of Export Ellis, and that II this
meets with the approval of the virginia repre-
| sentatvcs the Legislature be convened IN extra
session 80 that the matter may DO settled ana
| taken out Of politics before the fall election.
TIE NORFOLK TRIP.
| Governor Mckinney, Auditor Marye, and Irea-
surer Ilarman are in Norfolk, where the State
| Board OF Public Works held a meeting last eve
| ming for the purpose Of assessing certain rail-
| road property.
| The idea that the Governor went to Norfolk 70
| consult friends In reference to the debt matter
does not seem 20 be well founded. IL IL said that
| hrs business Is entirely confined to the railroad
| assessment.
There may be some interesting developments
| soon after his return.