The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1914-03-07

and to show the BUSINESS OF our de-
Tense.
Want Correct Accounting.
We want to displace in the minds
oil the people OF the whole nation the
impression that has been created by
some OF our enemies that West VIZ
glnia Is trying to evade its liabilities
for the old debt. Our people are not
OF that caliber. But when we come 20
4 a hnal settlement we want to be sure
OF what we W and TO have a correct
balancing of accounts. Many people
OF virginia, ! find. have been under
m misrepresentation that this money
was due the state Of Virginia. when
the fact is that the debt is in the form
OF certificates which are leld almost
exclusively by English bondholders
and which were bought up for a mere
song. These bondholders hope TO re-
alize tremendous returns ffom their
investments by not only recovering a
good percentage of the par value of
the certificates. but TO make the GER
uhcates worth more than double in
value by the collection of $1,000. 900
10 Sl5.OOO.O0O in interest. Virginia
loaned her name to the litigation only
because individually not serving and
the Virginia bondholders would have
Deen unable to collect al law their
claims against West Virginia. Vir-
ginias right as a party to the suit
was established by the fact tina a
small amount OF West Virginia certif-
Gates are held by the state literary
fund of Virginia.
Thorough Research.
|, I'm the limited time we have had
we had made as thorough a research
as possible into the cases leading up
10 this enormous debt. in which the
supreme court fixed our liability af
900 per cent of the total and we
nave found hat bonds n stocks 10
the extent OF millions OF dollars we're
purchased out OF he common funds
OF the state OF Virginia before the
division. The great mapority OF these
Investments. which were largely re-
sponsible for the size OF the public
debt have since been sold and real
lzed from by Virginia. but no ar.
counting has ever been made to West
virginia. And IL Is in these assets
That we claim a just equity because
We paid our proportional part In se-
curing them while this state was a
part OF the old commonwealth. The
state OF virginia still retains valua-
bic assets OF this kind. such as the
Richmond. Fredericksburg and Po-
tomac railroad, and in which we
claim an interest to Offset any lain
made against US for the debt in.
CURED IN making these investments.
Ofnctals Criticised.
Il do not think that West vircinia's
representatives have been fairly and
equitab1y dealt with in the past by
those representing the other side
such as would be expected In a con.
troversy Of this nature involving two
commemorative. II certainly must
have been known 10 the officials OF
the state Of Virginia that these cred.
It's We're realized upon by the mother
state We were not in possession OF
their records or any facts pertaining
10 the merits Of our claims in these
assets purchased by the common
fund. u seems that n IN eoffciaIs
OF Virginia had desired 10 be fair. the
attention OF West Virginia would have
been called TO ~ claims in the pro.
ceeds realized by these sales. In
Tact. the Virginia people had our
property and al the records bearing
upon equities IN these assets. not.
wtthstanding his We find the attor.
noy general Of Virginia advertising
settlement OF the debt upon the patri.
mony basis.
Attorney General Lilly and his as
sOciatc counsel Hon. John 49, Holt
Hon. '. B Archer and Dean g.. D.
hioEg. have made a very comprehen-
siVe and thorough Investigation Of the
legal phases OF the case. and the Of
|"NNN|H NN NHNLM
Us chief accountant. Mr.. ". A. Dover
mas given to us the figures upon
which the basis Of the proposition of
the West Virginia commission was
submitted
S~ubstantiation Of Claim.
In this connection I desire 10 give
10 the public Of West virginia the
statement made by Attorney General
Anderson Of Virginia before tho su.
preme COurt Of the intel States lin
he matter Of fact sult and which car
fted out It's full meaning. will be- ain
that West Virginia could desire I'M
standardization Of The defense now he
inE made Attorney General Ander.
son said
We do not want West Virginis 10
D. punished for anything sho has
done neither DO We wish tho conn.
monWcalth Of Virginia or tho comm0n
creditors 20 BE- punished but what
We desire D. that this case shall bc
directed and that the proportion Of
this debt 20 b. borne by the nov state
shan De- asccrtaincd upon Tho same
principles Of Justice and cquiyt which
VIII Do applied 10 the superintendent
81 q common debt between ioinf
owners OF property. who. under slim
ilar CtrcumetanCes and similar coven