The Birmingham age-herald., 1904-12-16
GOV, CUNNINGHAM
 OFF FOR NEW YORK Probably Goes to Investigate
 State Debt Matter DOES NOT TALK ON SUBJECT State Now Owes $e,s57,eoo With $s,. eos,soo Coming Due in 19o6-Mont.
 gomery Bankers Will
 Help Farmers.
DOES NOT TALK ON SUBJECT

alton at the metropolis with a view of rew arrangement of the state debt. When asked the nature of their business. the governor said. "On business of a public nature; that is all I can say" MT. Jack son looked dreamily out of the window and replied: My boy is just four years old, and I am going to head off Santa Claus before he gets rid of all his choicest good things, so that the heir to the Jack son millions may not be sighted in his youth" MT. Jackson also told of the be- lief of the same youngster that one Mir. Dooley responsible for most things not otherwise explainable. was in New York and he, Jackson, was going up to have a talk with him. At least he told the boy thas.
 The supposition Is that the business of the acting executive and his flag lieuten- ant" is to look into the matter of re- funding the state debt. The writer asked the governor if he had any objection to the statement being made .hat this was the purpose of the trip. You may say what you please, can not stop you," was the reply.
 Suspicious Signs.
 There were certain things, however. that may be taken to mean something in their way. In the first place there were one or two conferences between the gov ernor and State Treasurer Craig Smith, who has charge of the bonds and the care of the accounts incident to them They seemed interested in what they were say ing to each other, and Private Secretary Jackson was called In once in a while to have a word
 A careful examination of roll of pa- pers carried by MT. Jackson revealed also some discriminating evidence. There was a copy of the last report of the state treas urer, in which Is found a statement of the bonded indebtedness, tied up with copy of the new state constitution. From this the present debt status may be gained and the organic law of the commonwealth. through the operation of which the debt is to be paid, or refunded discovered. There were also some legal looking docu- ments bearing ear marks of the attorney generals office and other papers seem- ingly filled up with the kind of informa- tion that might be needed.
 Status of Debt.
 The state of Alabama now owes $9357, eco, with $S,9O3, 600 coming due in 1906. These latter consist of class A consuls. $6S59, 600, with annual interest, $342, ,9S0; class B, $57S,0OO, with s2s,9OO interest; class c, s966,00O, with interest of $3S. $40. Tho matter of refunding these bonds was taken up some time ago by Governor Jelks, but nothing was done. In his message to the last session of the legis- lature the governor said:
 They are in great demand, but I have not yet received an offer that seemed fair to the state. Several proposals have been made for a contract with the state looking to the issuance of BE per cent bond, the buyer paying the difference in interest until 1906, the time of maturity, between the 31a per cent rate and the and per cent rate the bonds now de- manded. The difference In interest amounts to about $11600O a year The bidders agree to take the whole of the A, B and c bonds, amounting to $8, 4O3 . coo, at 31s per cent, pay this $1160OO a year difference in interest, and such ad- ditional premiums as will reduce the bonds to a basis of something less than 3A per cent. In the meantime and be- fore maturity the purchasers were to have the privilege of buying up the old bonds and having the new ones issued on the new rate, as the old ones issued delivered. The exchange of the remain der of old bonds not so purchased to take place at maturity, January and July, 1906"
 Governor Jelks thought this offer was short of what should be had and never went any further towards a trade.
 It is expected that Acting Governor Cunningham and Private Secretary Jack son will be back by next Thursday.
 Capital Notes.
 The attorney general has ruled that County Superintendent-e Hollings- worth of Chambers county is entitled to his office at once. The law in that coun- ty is a local one and stipulates that the officer shall be elected for two years be- ginning with October. The old man, MT. farrell, has held that long, and the new man Is entitled to the place.
 The following minor appointments were made today by the governor:
 Notares Public-J. M. Crosby, Soldier Creek Miss Annie Pickett, Jacksons Gap, and w. c. Andrews of Martin. s. w. sandlin of Beat 12. Morgan county was appointed a justice of the peace; J. F. McLane of Saginaw was appointed a mo- tary public and ex-offlcio justice of t-e peace, and C. c. Tucker of Centreville was appointed a constable.
 George B. Tyler, the commercial agent of the Western Railway of Alabama at Iontgomery. will succeed the late VIII 
 Western at St. Louis. The announcement of the change has been officially con firmed. Mir. Tyler does not yet know when he will leave Montgomery. His successor has not yet been appointed
 Money for Farmers.
 The bankers of Montgomery say they are not only prepared but willing to help the farmers carry their cotton to such time as it will be worth more money in the market. It has also been shown that the farmers accounts as general propo- sition are desirable and sought after by the banks. They have been paid in the nast with remarkable regularity. One well known banker said:
 "We have made more money and lost iess on accounts of farmers than of any other class of borrowers" It is the prac- flee of the banks to put up say cents a mound when the price Is above cents. The warehouse receipt and insurance con tract will always be good collateral for monev needed. The farmers and the small merchants of Alabama have at least 2s ner cent of the crop of this year In tneir hands vet and are prepared to hold 1t. A strong point in the situation is the fact that many hundreds of raisers are able to hold all the cotton they have without ha-row,ny money The cotton merchants