Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-28
BOND MART
SOUGHT BY
SLATON
Governor Goes to New York Sat-
urday to Arrange for Refund
Of $3,67g,000 Issue.

Governor Slaton will leave for New
York Saturday, where he will remain
for ten days or more investigating
the question of refunding $S,679,00O of
Georgia bonds, soon to fall due. These
bonds represent approximately so per
cent OF the States entire bonded in
debtedness
1t will be finally for the present
and conditions these bonds must be
refunded. but the action of that body
undoubtedly will be in line with such
recommendations as the executive
may make in his message to the Leg
islature next summer, when the ques-
ton of this refund will come up for
action.
The first batch of bonds, 1921, 900,
falls due on May /, 1915 several weeks
before the next Legislature Q91415)
is organized. The second batch, 49,.
$4,000, falls due on July /, 1915, three
or four days after the new Legisla-
ture possibly might be organized.
Must Market Issue Soon.
In these circumstances 1t will be
absolutely necessary that the pres
ent Legislature Q913-14, which yet
has one session to serve, make def
| mite and exact arrangements for the
refunding of the bonds in question.
The Governor Friday, discussing
| the bond issue, said to The Georgian:
Georgia must and shall market it's
| bonds soon to become due upon en-
tirely favorable terms and conditions.
1.-THE credit Of the State is as high
as the best, and higher than most.
| It's security for every bond 1t has out
standing-and under the Constitution
no more bonds may be issued for any
purpose and no further debts may be
created-is ample. Its Western and
Atlantic Railroad alone would pay its
entire debt five times over. It's Capo-
| toll, its State institutions, and even its
Governors Mansion, all are subject to
levy and sale to pay whatever Geor-
gia owes.
! "The object Of my visit to New
York is to consult with various flnan-
cial authorities with respect to the
| terms and conditions OF this refund,
most likely to prove attractive to in
vestors.
Likes Georgia as Market.
| Shall the bonds be serial in form,
or shall they all fall due upon the
same date? Would it be wiser to ar
range for the bonds directly or should
a bond commission be created
When, where and how may the bonds
best be advertised and offered for
sale?
Does New York offer as promis-
ing field for the marketing of this
reissue as the South offsrs--as Geor-
gia offers, say?
! Maybe we shall give New York an
opportunity to buy our bonds. and
maybe we shall not. That is one big
| question | am turning over in my
mind now, and upon my present trip
East depends something, perhaps
everything. Of its solution.
Not a great while ago certain
Georgia banks demonstrated to the
world just how periodically and sure
ly Georgia banks may come to Geor-
gias relief when necessary. IF the
East wants these forthcoming bonds,
it must want them knowing good and
we'll that Georgia banks stand ready
to take them, and upon terms abso-
lutely in keeping with Georgia's credit
and standing Already | have had
numerous letters from Georgia hold
ers Of Georgia bonds about to fall due,
asking me upon what terms they may
be exchanged for bonds Of the new
issue"