The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-07-19
DELAY N PAYING DEBT
An EXPENSIVE NATTER
Interest ON West virginia's Obligation
Now Piiing Up al Rate of
&L700 Day.
QUESTION OF DISTRIBUTION
Bondhoiders Profess Fear That large
Fees WIN Be Charged II Virginia
Debt Commission Is Permitted tn
Handle Money-want Their Own
Representatives.

The West Virginia debt Is now on
the rise According to the order of
the Supreme Court of the United
states. should the debtor state fail to
pay over the sum of $12,3s3.92s.5o
ascertained to be due by July /, in
terest would begin to accrue at that
time at the rate of per cent, or APP
proximately s1,7o0 a day, or say a
bagateiie of $4,000 month.
X. Foster Murray. the accomplished
and clear-headed Washington corre-
spondent OF the Norfolk virginian-
Pilot. writes:
while ii IL assumed here that West
Virginia will In a short time make ar
ra,gements to meet the Judgment. per-
sons VINO have been following the
case from it's inception are saying that
there is going 10 be a plenty more
litigation before the money is dis
tributed.
ga motion was made at the last ses-
sion of the Supreme Court by Major
Holmes Conrad, counsel for the GER
tificate- holders, for the appointments
If a receiver to handle the money
under the courts own rules and an-
thority. No action was taken on this
motion. its fate evidently being left by
mutual consent for decision at the fall
term.
..certificate-h olders represented by
Brown Brothers. of New York are
understood TO be in favor OF the ap-
pointment of a member Of that firm
as receiver. This will doubtless be
opposed with vigor for the State OF
- . No xott a HaT
an equity whose amount remains 70
he aged. III there is no receiver ap-
pointed BIZ the Supreme Court. the
Virginia Debt Commission win re-
ceiye and disburse the West Virginia
payment in accordance with stature
az virginia Should the Supreme
Cont itself take charge, the state or
virginia would be oyerruled: orncr-
wise the Virginia law prevails.
Counsel for the private certificate
holders and some persons who have
no interest in the matter except TO
see the state OF Virginia and the prf-
vate creditors both get all that is
coming to them, are likely 10 urge
upon the Supreme Court that IL would
he a needless waste to have the Fir-
ginfa Debt Commission Of severs|n ON
hers. acting under State law which
ton. perform the simple duties of re-
cetyership that could be discharged by
any individual citizen Of competence
and standing whom the Supreme Court
might select The suggestion Will
probably be made that the court
choose some one virgininn of acknowi-
edged ability and character, with no
personal interest at stake TO act as
receiver.
virginia May Get Large Sam.
some OF the best informed lawyers
who have studied the Virginia debt
question disagree with the prevalent
opinion that Virginia Itself, rs State.
does not stand to reveive any consid-
erahle portion of the West Virginia
payment II these lawyers are right,
there may be pleasant surprise In
store for the Old Dominion In that her
treasury will benefit to the extent OF
a milton dollars. more or less. as
result of the Supreme Courts Anal adj
tustment OF the disbursement. 1t is de-
ciared that the last argument OF the
West Virginia case Justice Pttney dis
tnrbed the equanimity OF counsel for
the private certihrate holders by ask
Ing casualty IL the State of Virginia
herself had not paid of some OF the
obligations which West Virginia was
being sued for and which the Supreme
Court had decided she would have to
meet There was no conclusive answer.
Here IL the complete membership OF
the Virginia Debt commission. whose
status In connection with the West
Virginia payment Is likely to be mat
ter OF discussion In the Old Dominion
in view of the appeal to the Supreme
Court TO prevent the absorption Of
unnecessarily large sums I'm fees to In
termediates:.
poratiou commissioner: Congressman
II, ID. Flood. of the Tenth District;
state Senator H II. Downing, of Front
ROYAL: former State Senator Henry r.
wickham of Hanover: Judge 7.
Thompson Brown. of Nelson County:
Randolph Harrison. OF Lynchhurg, and
Delegate David Pitts, of Albermarle
County, twho succeeds the late John
b. Moou.l
when the Supreme Court handed
down its Anal decree fixing the amount
to be paid by West Virginia. the State
OF Virginia was represented by e.
Hilton jackson as ccnsel. No one else
appeared to look after the States In
terest. though there are some able law
yers on the Debt Commission. II will
be advisable for the State of Virginia
to be represented in greater force tho
next time the matter comes up before
the Supreme Court. This reference Is
not In any sense q reflection upon the
legal ability of Mr.. Jackson. IL would
simply seem that some of the lawyers
who have been prominent in the pre-
vious history of the case should be on
hand to look after virginia's interest In
any new turn affairs may take.
what Might Have Been.
ut Is being recalled for the delecta
ton OF West virginians In Washington
that the late Senator Stephen b. Ell
kins some 30 years ago secured from
the certificate holders an agreement
to compromise on cash payment OF
$1,000, 600 for West virginia's portion
of the old Virginia debt The young