Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-11-20
n SETTLE THE DEBT.
or,,,t Committee and Our Com
ri>,ion Reach an Agreement.
,,,rrgrN MILLION DOLLARS.
s.mto Be Paid. and IL hears e
~, cco, for Ten Y"'r' and ; Per
cent. Tbcrenfter

... ..-.r l~ '""' '"N
.nsu # all outstanding claims,
..a in default Si9,Ooo,oOO in
...... oac hundred wears to run at
auuum for ten wears and 3
aauum Tor ninety years.
a1t rggct the S6,oO0.0OO IN
under the Biddleberger act
..t.- held by schools and col
e.. other securities, however. are
,.......r 5l90OJ.Cc0 pool, and the
... mad, with clean score,
....rrty, IN CaNTEIENCE.
...r. was arrived At after three
..ti.ya. which ON both sides
..-.s.t bv an earnest desire 60
.-.uud ON which they could
.. tI.s rrst o. the last moment
-.... fhr utmost good feeling
A fle disposition was with
.u and committee 60 STRAIN
...., together rs far az such q
....,auIe M justice 20 those
...s lust concluded practi-
....t.t the spring OF this year,
.s.u.e leading up 70 q con-
...umssi0a and the commit
..a..f. Ihc committee paid
.....t tt. tnp city an the early part
omitted % the commission
tr settle on q basis of So
...- iHI wears TO run ant bear
. D. per cent. This prOpOE-
.efal for reasons that were
.....-at $50 the committee.
-l,0ND PROPOSAL.
-. .... body after thoroughly cam
Information they had gained
uuratlug with the London
admitted az the beginning OF
..a .r SUNDAY last PROPOSE
. is,uancc Of $4,000, 900 of
... f.. wears 20 run and bearing
p.r cent. per auuum. The
non felt constrained TO re-
... ed also and gave their rea-
.-.. THE principal one
t.s State did not have
q. meet this interest
.t.- iuuc'ure asub-cOmmittce,
.... H.--re. Berry and Dabnev,
. .... sion. and Messrs. Olcott
.-.". rm the Olcoit Committee,
....I tn confer and see If they
..ulu % basis on which 70 ne
..r rsru-Co'nErrTE's WORK.
....,amijtee carefully considered
.... ..u.r.Ht. spending most OF Tues
.... .r doing, and the next morn
........'.. q. tlc conference the facts
...-. their conference. The com
... suggested IN writing that If
....... ..uulttec would make pro
.. .ra basis uf SlS,OOl00O at per
.. a...u wears and 3 per cent. for
..t. wears The commission would re-
a. ..- acceptance 10 the Legisia-
1870 TO CHOOSE FROM.
-.. response of the committee TO this
.t. facts which had been laid
t,.ut-c0mmIttceo Of the conference
- .E....strate that 10 would be I'M
..... tl secure such a proposition
.. i,udhollers, bat the Oh
.. .le added that If the com
would receive either ot
.r -ru-tous then submitted they
... ....t people) would cheeriuily re-
... q, for the acceptance OF the
... e.r.. These two propositions
.-s..--' the issuance of &ls, ,OO9,OO0 Of
.... having a hundred years to run and
..r.- interest az per cent; second,
..f5aa.c, ut ~l9UOo0OO of bonds having
t.r..-I wears 90 run and bearing inte-
-..4. tu, tat. of . p8r cent Tor apnum
rave s.ar,. 81, per cent, per auuum for
...f .r.. aui per cent. per annum Tor
-tl.rul.er oi the time.
ulNISG TO THE POINT.
T.aO.at Committee then retired, and
us-.oUl took the matter under ad-
r.... Every effort was made bY the
s.. Commission totind a way clear 10 20
Aif.slr.ps4atr .
.a.. 81. secret that such q way had not
...t.... The situation was darker than
-..r period NJ the negotiations. While
t' Committee recognized that the
--.n was striving TO come TO their
r wl- also recognized that they
.I.tu.it, and some of the commit
.. .t f.- home, leaving Messrs. Olcott
..-f.. 90 lead the forlOru hope. Late
H...ilr night however. the lntima-
'.n.. thrown out that some of the mem
tf.. Sluto Commission were willing
.ar.. tr recommend the ISSUE OF SlJ,-
.t bonds bearing per cent. IN
.r.' tr teu years and 3 per cent. Tor
...'. ,.ir-. uud then the skies began TO
tHrlaLH, TRLFGBAPHED FOR.
w. .'.ttl- credited with making the
l.....,.'.p uu the side of hls committee.
F.. r'.. tLu Olcott people remaining
.t. .p6,d 10 NJ. Glennan, editor OF
Norfolk Tr5uid0, Judge Keith, and
t.. iHpI HuntOu 10 come 10 hlch-
immediately 20 act as advisers III tho
-.. Judge Keith lett the bench, Gene
r...r.. Hc.sciu courtlnyolvine $4,000,
Or. Hr. trurau the adjustment Of the
..r.. uu u., office, which was recently
auI started on the FIRST trans
..-i catch. These gentlemen IN
"..u..y advised the Olcott people
.. ,.'u the proposition that II had
.-'Iwltri the Virginia Commission
r... ....aIu. of advancing. In the mean
... r.mmss.ou were seeking cOun-
, Manor d. Taylor EllysoD. Judge
"-.' U. staples, ana others.
rHE MORNING CONFERENCE
Yesterday morning the State COmmis.
u., pursuant 90 adlOurnment aud
R-. ..s....I yoral hours before Messrs.
..'a.l Garden, Clerk Ellis, Mr. Glen
. ..r kc.th. Colonel Tom Smith,
.. Gordon. aud General Hunton APP
's... the Capitol These gentlemen
h ..t ye.g DO the library long, however,
..iIrWal messages began to pass
N... them and the commission, and
as. known that bright day had
....i t.r Virginia.
a.. .al -membors of tho committee,
i."..s ot the commission, and ad-
.r.i lot % tell anything IN adj
formal announcement, and they
.' .v word Of mouth, but u was III
.ft..t q solution Of the problem that
'FsI Tie people of the State for
...F quarter Of a century bad been ar
iF.ta.
IHE OFFICIAL MESSAGE.
so. halLpast tins afternoon Sena-
t-r j. Mickham entered the library
-I t'cial envelope in his hand and
.'.eIl D. 90 Mr.. Olcott. All knew IN
.., that 10 was the formal notihca-
'..' tIe commission would agree TO
n..l the basis Of 100000, run
... hundred years and bearing 2 per
... .'.r-t Tor ten and per cent. for
-..'N years. The communication was
..--.'., canned by the Olcott people and
b. aI'lser.. and then Sir. Olcott and
''.ry i4Ls retired 10 an alcove TO
d. .al.a,t ,he reply.
i.t iar uaKt half hour the scene IN tho
va one Of supported excitement.
.'H Garden paced tine floor, neryously
syn @ vish-ring on his little finger,
,- OPPRESSION Of hls face alternating be
seen faalau, smile and deep thought
....-s. Colonel IOm Smith changed his
-' '"et'y times. Judge Keith sat IN an
= 'r e'ar with an ar that strongly sug-
Z, t he was waiting for the verdict
=" Jury. NJ. Glennan did not hesitate
" "., every one that It was the happiest
y, oi Lls life. vet every now and then a
7. u" would come into his eyes. Colonel
,'9i-,1 expressed bis satisfaction by put
80 L.s age back some fifteen years, but
,'sl Do would change from gay TO
f,e'e 90 times. General Hunton bad but
,.,'i7 % say, but that little expressed in-