The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1897-05-18
MR.. WESLEY'S CLAIM,
WHY HE WANTS BLUE RIDGE SCRIP.
. PASSED UPON.
His Position St~ts,aShIr LyIes Gives II
sketch vi tho History Of tho Trans-
yRotion-The Status OF tho Case.
TThe State. |


which throws considerable light on
tAe situation. Yesterday Attorney
General Barber returned to the clty
and talked interestingly of the i'm
rending test, but not for publication.
He will consult with Judge Nelton,
who has been the leading counsel in
the Agricultural Hall case. The
State does not seem to desire a test
of the validity of the scrip. A lead
ing member of the administration
stated yesterday that it seemed to
him that Mr.. Lyles was on tho right
line to have the court pass upon the
validity, of this paper. -
Mr.. Lyles and the attorney gene
= raj had a brief conference yesterday
afternoon about the future occupancy
of the Agricultural Hall by the dis
pensary. 1t was most pleasant, but
was brief. No conference product
i've of results will take place till tho
Vandercock case has boon argued
next Monday.
Here is Mr.. Lyles' statements:
TO the Editor of Tho State.
The recent decision of the United
States supreme court IN the "Agri-
cultural Halp case has given riso to
considerable comment upon the
claim which Mr.. e. B. Wesley of
New York has against tho State of
South Carolina. I have frequently
had the inquiry made of mo as to
what merit is in the claim, and how
far the establishment Of it would af.
feet the State of South Carolina. I
therefore assume that it may not be
uninteresting to tho public for mo
at this time to give brief statement
of the facts.
Some time prior to 1872, the State
Of South Carolina had, undor the
acts of tho Legislature, placed its
guaranty upon $4,000,000 of the
bonds of the Blue Ridge Railroad
company, and these bonds had been
placed in the hands of the officers Of
that company, and had been pledged
in the city of New York for consid-
erablo sums of money; a few of them
had probably been sold.
On tho End of March, 1872, the
legislature of South Carolina passed
an act for tho redemption and can
collation. of tho bonds so pledged,
and tfo.1that purpose authorized tho
issue Of 81, 100000 of revenue bond
scrip, commonly known as "Blue
Ridge scrip" and the officers of tho
State undertook to procure the sur:
render of the Blue Ridge railroad
bonds by substituting this scrip so
issued. Two of the prominent busi-
ness men Of the city of Columbia at
that time, both presidents Of banks,
recognized the Importance of accom-
plishing the object Of the act of 1872
SO as to retire the large amount of
Blue Ridge railroad bonds, went to
the city of New York and sought out
Mr.. Wesley, who did not then own
one dollar of tho securities Of the
State of South Carolina, and was in
NO. way interested in the Blue Ridge
Railroad company. He had, indeed,
refused, as the representative Of q
prominent banking house in Now
York, some time before that, to con-
sidsf a proposition bearing upon the
pu'phase of certain of tho securities
Of Nho State. The gentlomen in
question represented to Mr.. Wesley
the great Importance to the tinan--
ciers Of tho State to have the 4,000,-
600 Of Blue Ridge bonds retired,
and urged him to advance the money
necessary to do 30, with on assurance
that there should be placed in his
hands $1,005,0O0 Of tho revenue
scrip as collateral security for such
advances for tho purpose Of with:
drawing the Blue Ridge bonds from
hypothecation. He consented to do
this and did advance tho sum of
344,025 in actual cash, and with
this sum he redeemed $2,002,000 of
tho Blue Ridge railroad bonds, with
all of their coupons attached. He
did not rest upon this, but took