Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1911-04-15
DEBT CERTIFICATES
TAKE A BIG JUMP
Conference Of Prominent Republicans at Charles
ton Give Them Boost and Rumor Still Pre-
walls That West Virginians Will
Profit if They Are Paid

Charleston. w Va, April 11.-If
any further confirmation of the per
sistent and well founded rnmors Of an
understanding or alliance between
| leading republican politicians of West
| Virginia and the owners of Virginia
deferred certificates. were needed It
was furnished by the news received
here of jump of from s to
10 points in Virginia deferred certi-
| ficates following on the heels of a con-
ference of republican leaders held
here about the middle of the week be-
tween ex-senator Davis Elki1s, exGov-
| ernor w. NJ. o. Dawson, Charles w.
Swisher, Governor Glasscock and 9TH
ers of prominence in the republican
ranks. The frequent pow-wows held
between these skillful and astute poll
| ticians was hardly over when increas-
ed activity became apparent in Vir-
ginia deferred bonds on the New
York stock exchange; holders of the
certificates, as well as those IN close
touch with West Virginia politicians,
evidently having received "inside" in
| formation to balloon the Virginia de-
| ferred certificates, It is a significant
| fact that Wall street was so promptly
advised of the result of the Charleston
conference.
On Thursday the bonds moved UP
four points and on the following day
leaped upward again from to
points going to over 60. On Thursday,
prior to the Charleston conference the
bonds had been quoted little above
55. This display OF activity preceded
any published statements of the Char
lesion conference but public state
ments only served to boost the certi.
fcates little higher, exciting com
ment and drawing attention to the Vir-
ginia debt again, both in West Vir.
ginia and in the East.
A New York dispatch to the Balti.
more Evening Sun, appearing in the
| financial column of that paper last Fri.
day commenting upon the activity in
Virginia deferred bonds in Wall street
| last Friday said "The Virginia de
ldtilCN bcuQS hAuNtu up U
with most of the buying based on pub.
! lie statements of the intention of the
| Governor of West Virginia to call an
extra session OF the legislature for the
purpose of considering steps to be
taken in compliance with the United
States Supreme Court decision. u
Other eastern papers carrying infor.
nation of similar tenor were read
with good deal of interest here, and
formed the subject Of good deal of
| speculation and criticism not conpli-
mentary to the clique of republican
politicians gathered here recently
whom those who have closely watched
the progress of the Virginia debt suit
blame for the predicament il which
West Virginia now finds itself. They
are inclined to believe that inasmuch
as the Virginia deferred certificates
| have been steadily advancing, since
the inception OF the suit, from to al
most 65. that there is a colored gen.
tleman in the wood-pile somewhere
Time was when Virginia deferred was
| vi Tue OuA TIC NtIJ ldtt
that as the suit progressed the certifi.
| Gates became more and more valua.
BILE has excited the suspicion here and
elsewhere that certificate owners
must have had some assurance that
the outcome OF the suit would be in
| their favor.
The charge has frequently been
| made and is now more pronounced
than ever that a large quantity Of
these certificates, were owned right
here in West Virginia This charge
has never been successfully denied
and since the peculiar and significant
rise in the market price of the Vir.
ginia certificates is now widely reiter
ated and emphasized in all quarters
where the Virginia debt has been dis.
cussed
1t is asserted that il the names OF
those who own the Virginia certifi
Gates, and who have remained under
cover during the trial OF the suit in
| the Supreme Court, should be divulged
| II would create a monstrous and un
pleasant surprise. Had the proper
steps been taken. so those, who are
not satisfied with the way the case
was conducted declare. 1t might have
been possible to ascertain the desir
go information. II bill OF discovery
had been filed in the Supreme Court
the bondholder would have been com
PEELED to come out in the open and
show their hand instead Of using vir