The times. [volume] (Richmond, Va.) 1890-1903, 1892-01-15

registered and coupon. data July I. 1879
pnvable July /. 1882. with ~ privilege N "a
deem them after July +. 10 bearing ns,
cent. interest per annum ~ the coupon,
not receivable for taxes.
Tie now bonds were direk'ed ~ bocv
changed Tor the Outstanding indebtedness "
/ the State above rolerrof 70. pa certain rat.
prescribed according 10 class. The details ~
the provisions fOr exchange need not DO men
/ ii ned here but one feature deserves part
ulsr attention tO-wlt that in funding N,
outstanding obligations mentioned into Rid
/ dlebergers. for any interest winch may .
past duo and unpaid uDOn the same fanled
bonds issued under this act may be given dol.
lar for dollar
Another requrement Of the act material 90
be observed was that 'Iu tho year ..0. .rd
annually thereafter, ter9
shall be set apart Of the revenue collected
from the property OF the state each year
per cent. upon the bonds at tue tine .u..
standing which shall be paid into tto lrea..
ury o. Z 20 credit of tho sinking fund
The debt legislation Of the session 10
/ 1esi-'s2. 10 will haze been 0I served cons I'd
I OF tie two c0upon-6illers tho act torhldIrr
tho use of maalemus M coupon cases s.I
/ tho ldddeberger hil These measures bad
now 20 ass under the review of the courts
supiE.oa COURT DECISION.
| The Court of Appeals of Virginia vas
/ equally divided as % the validity Of c.lrr.
/ killer No b. and tie question went "a. l.a
supreme Court %. tho uifed States f..
/ tribunal sustained ths act DO tre ground .l.t
/ 10 ur |ylded au ele uate art q. lcaciouf rera..
/ in lieu az the former remedy by nsniar4,tl
/ compel the acceptance 0i the co. p.r. ftp
/ t4xes. n was supposed ly many az tae t..
/ that the new remedy provided was pracN
/ so difficult Di application as % ue ltI.t letter
/ trau no remedy yak and the cnlr. oe.
was therefore Che subject Of considerable
= O.. 81 .
t.at the corr- was ught " c.aU. l.s
NO. became in tie hands ot ian c...
holders 3 sou-ce o. great ann. anle O.
state.
Oiher questions in connection with ls
: Ef11lehorrer legl snr.0n subs. u.lt.F a...
and VIII be referred @. later un.
Meantime tbs purity which hli o.. al
/ been OPP sed 20 iorci0le read rs'meut having
/ for several succ sslyg years losl del0l.eI
! upon that Issue no tno po.r. bod ar.F
/ arGuiescel DOB the Jltulener-Dr settlement
/ The LEGISLATURE chosen at the .a e.r..I
m 1883. though composed of majority
members who bad previously opposed
schemes OF '0rci0e relaJu-f ont .e.I
/ in good faith TO adopt -ucn adilt'n4. .es
sures as seemed practicable tN md f.a
( creditors e. accept the iitd.eoerre-
TO present these measures on 0n.a. NH
1 swell tins rep. "a CD o great % ier .l.
/ ito TIA. thar they wero ior 81. time .Ha
/ Uuing tie summer of i'tI I'D s.r's
/ fiou arose as 90 toe meaning and t-Ua
pretat.on of the Rdd-c1eIger act
gH mDDLumor. hor.
Shortly after July j. 1855. j. p fur
non-re-ideut OF Virginia. anpioi tl
/ Gals Entrusted ly tae Nii.eterrar h.
1 tine duty of exchanging tto h'w fnr t..
standing Obligations of tle State to uni ..o
. Ridlieberzer bonds do lr Tor d Ilr ra.t1
+ coupons held hv fnlre. which laI lIr..
F on and before July 10 l'fa Poe hNI.l