The Sunday telegram. [volume] (Clarksburg, W. Va.) 1914-1927, 1915-01-31
HA7FIEI % K EVl 3 VS.
DID, DEBT MA &c TER

py tne annuat and other reports that
are a part Of the official records OF
Virginia, prove conclusive that these
properties owned by the state were
worth mach more than $14,511,943.74,
The exhibits prepared by our ac-
countants showed that these prop
critics had value as Of January /,
1851. amounting to she, 0s3, 1854. q
= 1t Is indeed hard for me to see
how West Virginia cam owe any por--
ton OF this debt II she 10 given the
benefit OF the credits as OF the date
which the master comedies she
should receive them. Those proper
ties We're worth as Of January. i,
1851, at least par, which was $780,
V63, $3.50, being unhampered at that
time by the scourge Of war, which
soon followed after that date.
Fixing the Date.
The contention has been made by
Jour representatives that January i,
1861, was the date from which to fix
| the credits, as the constitution Of
1862 fixed that date us being the time
West Virginia assumed her equitable
part Of the debt. The contentious OF
West Virginia have been concurred. IN
by the master as to this date. and
to me this is most important for de-
ternlining values on account OF the
war that changed the currency sys-
tenn and made 1t almost impossible
to fix values as Of any other date
after the war became fiagmmt. The
counsel for Virginia attempted "a
have this fixed as of June 20, 1863.
z After fixing OF the date, January
| 4, 1851, from which to take West vir-
Eginta's credits, it would seem to me
an easy matter to determine the val
ue of the stocks and bonds owned by
I the state at that time, and would ap-
pear safe to conclude that the values
Of these holdings should, in equity
lhe in keeping with the values fixed
lby the owners Of those buildings as
shown by annual statements sworn to
and fled by state officials.
State Owes No Debt.
II have indeed come to the conclus-
ion that II the authorities Of West
Virginia had been able at that time
to obtain q statement Of the account
as the Bennett commission attempted
to do when facts were accessible,
which later became inaccessible, Il
would have been shown that West
Virginia owed no part Of the debt,
should she haye received the credit
which she was justly entitled to lin
settlement Of what cannot be consad-
cred other than a partnership. II,
which one party leaves the Other
with the liabilities and assets and
from which It is necessary to make
an accounting of the assets as we'll
as the liabilities before a settlemetit
can be made.
The case Is by no means ended and
the findings Of the master confirms
the contentious made in the supple.
mental answer filed by West VIRGIN.
las representatives and argued BY
Attorney General Lilly and judge
Holt before the supreme court OF the
United States and resulted In the re-
Opening Of the case and It's refer.
ence again to. the master. / believe
that West Virginia is now In better
position to press her equities to the
end thu sfie may pc given the CON.
federation which she should have 81,
this c6ntrcv and which Wees
/ Virginia has sought to conceal
throughout the entire litigation. &
= Victory for State.
II think tt Us q Htlbs tial victory
for West ifsitia and that the con:
!. cl1isi oiis of the niastG show 10
\ Tho supreme court 81 the United State.