Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-06-15
ers will receive included allowances for

ers Will receive included allowances for
all expenditures.
Recalling the 1911 decision OF tho SUI
nremc Court. which fixed West Vir-
Einia's part OF the debt ut S71So 5o7 40
Mr.. Pollard said: Senator Spooncr
and John q. Carlisle made tho arru-
mcnt on which that Judgment was en-
tered. They wcro then discharged and
Charles l. lioge, Of West Virginia, wns
retained with Judge Holt. of Hunting
ton. as leading counsel. On Judge Hollis
motion the case was rcopencd to allow
West Virginia TO prove the value Of her
assets at the date OF separation OF tho
States"
The Attorney General was asked
what course would he pursued in the
event that the State of West Virginia
failed To make the payment ordered by
the Federal Supreme Court. He replied
that there was no Constitutional pro-
vision or Congressional act providing
means Tor compulsory collection. The
only known process by which one State
can collect from another in such con-
tingency, he said, is by force of arms,
meaning actual war. That process can
hardly be followed. lie expressed the
opinion that a satisfactory settlement
would he made in time.
WILL BE MADE POLITICAL.
ISSUE IN WEST VIRGINIA
That payment of the State debt in
obedience to the Federal Courts direc-
tion will hc made II political issue in
West Virginia is regarded as fore
gone conclusion by many wcll-informed
public men. 1t Is predicted that over
lures will eventually he made for II
settlement that will greatly reduce the
amount of the Supreme Courts award.
West Nirginia's counsel objected
strcnuously to the report of the special
master, complaining chiefly against the
nf hnt inf,
should be paid by West Virginia.
The controversy between Virginia
and West Virginia over the payment OF
the old state debt, in existence at the
time Of the separation of West Vir
ginia i'm 1861 has been one of the most
prolonged ever before the Supreme
Court The court for years delayed en-
tering a final Judgment in hopes Of an
amicnble adjustment of the dispute.
Before the separation of West Nir-
Ginia from Virginia, Virginia had q
state debt of $S3.0Oo,oo0, incurred
mainly as the result of an ambitious
scheme to provide canal and slack |
water navigation along the courses Of
the James snd Kanawha Rivers with |
the hope Of making navicahle water ,
way from Richmond To the Ohio and !
Mississippi: an elaborate project of
macadamizcd roads; then of railroad
ing.
SUIT WAS FILED BY
VIRGINIA IN 1a06 |
In 1906 the Commonwealth OF Vir- !
sin!a asked and gained the permission |,
of the Supreme Court to bring Il suit |
before that tribunal To compel West !
Virginia to pay an equitable share of |
the debt, acting partly. it has been said |
at the instance OF holders OF bonds |
Virginia had issued to cover the in |
debt cdress.
In 1911. the Supreme Court announced |
Z IN -ir,y Co. oh, = L.. ,r;,,
cpal debt should be determined by the |:
ratio of the wealth of the two states. |
1t was fixed at s7.1S2,505.49. In 1913 |
Virginia asked for a final Judgment |
which would include interest on the |!
principal debt West Virginia then |
growing out of the investments Of the /
S33.0oo.ooo. On January 49, 1915, |
Charles +. Iittlefeld, as a special mas !
ter. reported that West Virginia ought |
to he required 40 pay interest from |
January l. 1861, and should he entitled /
to share OF the assets based on the |
ratio of wealth. Its share was placed |
at S2S6s.OG0. Objections to the APP |
prevail of the report was fled by both /
States, West Virginia complaining |
mainly of being required TO pay inter- !
est, and Virginia about West Virginia |
sharing the assets and the value placed |
on these assets.
Special Master Littlefield's estimates
of the allowances 10 he mace 10 West |
Virginia are practically sustained in
the opinion rendered by the United |
States Supreme Court
THE COURTS FINDINGS
AS TO BOTH STATES |
Following is the courts findings in |
the value nf Nirginia's old assets and |
West Nlvginia's share thereof:
Cash in sinking fund ....S Sl9,250 o3 |
Stock of Richmond, Fred
ericksburg and Potomac
Railroad ........... 323,167 80
Other stocks and loans. 7,769.S1O 35 |
Interest and dividends ao-
oruing ............... S45,55i SO
Bank stocks. ............ 3,So2,357 As
Stocks sold to Atlantic.
MISSISSIPPI! and Ohio
Railroad .............. oci,sss ~
Stock in James River
and kanawha Railroad. 1868, 1913 90 ,
Total. ACKNOWLEDGEMENTS. S14,929,1Gl A
To be credited To West Virginia, AS
representing 23i. per cent, or per share
of these assets. s3,5cS, $685.; less money
and securities received by West Vir-
ginia from restored government of Vir-
ginia. S547,467lS.
This would make. says the court,
West Virginia's equitable proportion Of
the principal debt. the sum of S4,2l5.-
G222S, as follows:
2312 per cent Of principal
debt (s3o563, SCI $50 49,. s7,1S2,5 4OI
Deduct credit Of West Vir-
gina .'................. 2.3s6,sS5 / 5
West Eirginia's share,
therefore. Of principal S42l5,622 25
In computing the interest the court
held that from January /, 1861. to July
/, 1881, West Virginia should pay
per cent: ammounting TO S5,143,059.lS:
from July |, 1891. TO July !, 1915, it
should pay al the rate Of 3 per cent.
amounting TO S3.0%5.2iS.Gi making the
total interest charges sS,l7S, 3G7 -,
which, with the principal makes the
grand total sl2.3999235O.
The question now arises whether