The Caucasian. (Clinton, N.C.) 188?-1913, 1905-03-16

The Debates OF tbs Co0Dlsses an
Arossa A greed rpoa-Tks Divorces


The D<eisiss OF tbs Cos.,ssss asa
Azosss Agrsea rpoe-TAs Divoscs
Below We give = summary Of two
important laws passed by the last
legislature, the bond settlement and
the divorce law.
A special legislative committee.
com posed Of Seniors A. &. Zolli-
c Iff.r OF Vance, A. NJ. Scales, Of
Guiiford and Representative Wal
Ter Murphy Of Rowan, j. X. Cor
don Of Guiiford, and ]. u. Cofieid
Of Martin, In conference with the
Governor and Council Of $ ate re-
garding the best settlement OF the
schaffer bonds and the South
Dakota Judgment, nude the fol.
lowing Recommendation 10 the gea-
eral assembly:
"Gentlenen: The committee to
whom was referred the matter Of
the South Dakota Judgment and
the Schaffer bonds, to the end that
they might carefully consider the
same and make some recommends
ton to the general assembly, do
now respectfully make the follow
ing report:
"lst. That the Governor Of the
State. with the approval Of the
Council Of State, be directed to set.
tie the South Dakota judgment In
the manner deemed by them best
10 protect the States interest.
"2d. After q careful considera-
tion of the bonded Indebtedness
known as the 6chaffer Brothers
bonds, being 242 bonds Of the par
value Of 900 each, with interest
on the same for Twenty-Five years,
and after consultation with the at
torneys Of said bondholders, the
committee unanimously agreed to
recommend the following:
"The State is to pay the bond
holders 1892 per bond. which is
less than par value, and amounts to
$215,s64. This is $447,216 less
than the principal and interest of
the 242 bonds, $179.136 less than
the first proposition suggested by
the bondholders to the Governor,
$50. 1876 less than the first written
proposition made by the bondhold-
ers, printed in the newspapers as a
letter to the Governor, and 500. 1876
less than the ultimatum that they
offered at the first meeting Of this
committee. The 1915, 1854 recon-
mended by the committee, and &C.
cepted by the bondholders, is based
Though less) on the settlement of
1879, allowing rs cents on the dol
lar and interest for twenty-four
months, with interest ON the de-
ferred coupons, this being in strict
accord with the settlement of 1879
and the Democratic platform.
1--WE believe this settlement is
both honest and just, and We there
fore recommend that the general
assembly accept and approve it,"
This report was unanimously
adopted by both branches, and bill
passed in accordance Herewith,
which being roll-call measure, re
quircd six days for ito onao. m ont
and necessitated the legislature 10.
naming in session until Monday.
March 9th, although the term ex.
pired on Saturday.
The bill, after stating the cendi-
tions of the settlement agreed upon
by the committee, the payment by
the State of $215,s6i for the PAP
bonds now held by the Schaffer
Brothers and the Governor to settle
the South Dakota judgment against
the State for s2z4OO, provides for
an issue by the State treasurer Of
bonds Of North Carolina to the
amount of $250,OOO to meet the
above expenditures, the bonds to
bear upon their face the expires.
purpose for which they were issued
and drawing 4 per cent. interest,
dating from January, 1904, to be
paid semi-annually on January 1st
The bonds are to be Of denomina-
tions OF $500 or 81 200, and are not
to be sold for less than par.
TIE DIVORCE LAW.
The new divorce law repeats all
laws creating any cause for divorce
enacted since the session Of 1888,
and amends the C0te by making
fornication and adultery on the
part of the husband a cause for
divorce instead Of separation from
the wife and living in adultery. It
Is provided that This law does not