The Birmingham age-herald., 1911-01-21
MISSISSIPPI HAS 4
 FINANCIAL MUDDLE The Bond Issue Brings Many
 Complications THOMPSON ANNOUNCES VIII Make Race to Auditor of Public Accounts-Drummers Refuse to Talk-Seek ArnoId's Relatives
 Woman 92 Years Old
THOMPSON ANNOUNCES

Jackson, Miss, January 20.-(Special) )- l Mississippi has a financial muddle that would be really amusing if not so very serious, all growing out of the sale of | se0o0GO worth of per cent bonds, author zed, by the last legislature.
 These bonds were advertised to be sold 1 to the highest bidder on the first of last l July, but when the commissoners-the governor, treasurer and auditor-met to open the bids there was not one to open, and the state was facing an empty treas ury with pension warrants and other claims due. It was very necessary that the money be raised, and Governor Noel called on the speope of the state, espe- cialy the bankers, to take over the bond issue. A score or more of them respond ed literally. but nearly s20O,O0o worth went to Seasongood & Myer, bond buyers of Cincinnati However, these sales were not consummated till the end of the year just closed, several of them on the last day of December, and yet the buyers were under the impression that they would get the interest that had accrued during the previous six months.
 When the bond buyers presented their interest coupons Treasurer Edwards de- cined to pay it, except for the few days the bonds had been in the hands of the purchasers-the difference in the interest claimed and that the treasurer offered to pay being that between about $500 and SIP, coo
 Governor Noel.takes the position that the interest should have been paid, that it is just and legitimate charge against the state and declares that if Treasurer Edwards had intimated to him he was not going to pay the interest he would never have sold the bonds and would have called the legislature together to perfect the law so that the bonds could have been sold.
 Several salty open letters have passed between the governor and the treasurer the treasurer has been mandamused by bond buyers to force him to pay the in terest, and the matter is now before the supreme court.
 Today Governor Noel addressed a lengthy letter to the people of the state in which he explains his attitude. In the course of this letter the governor says: Until I read MT. Edwards pub lished interview on January 4, T had no intimation from him that all tho coupons would not be paid on presentatioY. and till then such was the opinion of the auditor and of the attorney general, a9 within the past 24 hours, each has told 1ne SO
 Treasurer Edwards denies this emphat- ically, saying he did notify the governor he would not pay the interest noq earned. and that he has it down in black ana white He proposes to print the corre- snondence on that subject to prove his assertion that he did tell the governor he would not pay the interest.
 In the meantime Seasongood & Myer of Cincinnati have demanded their money baaA declaring they cannot sell the, bonds now at any price. the credit of the state being impaired and the old cry or repu- diation again raised against her, where- fore if does not seem that there is any thing for Governor Noel to do except to call a special session of the legislature he having guaranteed the payment of the interest,