The Sunday telegram. [volume] (Clarksburg, W. Va.) 1914-1927, 1915-06-20
The West Virginia Debt Verdict

ma Debt Verdict
the fair intendment Of the contract
itself II liability for. interest Is with
In the scope of the agreement no OBJ
lection can lie on the grounds Of
uncertainty in amount as the prom
ise attaches TO the amount found to
be payable In this view, also. no
question would be involved as to an
award OF interest by way OF damages
as dtstfngufshed from recovery by
virtue of the terms OF the under
standing For can It be deemed In
derosation Of the sovereignty OF the
state that she should be charged with
interest IL her agreement properly
construed so provides The sunda-
mental question Is: What does the
contract mean2
The subject has been discussed
deliberately from every possible point
of view in the comprenenslve Az
ments which have been presented,
the considerations which must be
deemed to be controlling are clearly
defined and may be succfnctly stated
The subjeco matter Of the con.
tract was public debt. That debt
consisted Of outstanding bonds
Some of these were redeemable at.
pleasure, but for most part they were
unmatured and had many years TO
run. These bonds provided for the.
paymenI OF 80 q ,,a.-1,,e g- a.
apal; tney Wefe -. q, - r.
hsanonse II Is uue snS 1850 ~
sd apd ,nnsrentIv mere
were also some matured bonds. but;
these amounted to but>a small frac-
ton Of the public debt. The debt
70 uo.s waieu I.; - 70 ana IN January 4
existed PRIOR 20 aao on ~ ssnse
20 .nsci@Ic s,,,o then dI1e and pay
~ -. ,sn5Sestlv vas the LIABILITY
.ssa 80 ~ TO- o,,+standine obi
$500 - s;s,, +,e ,,ronoised inter-
Sa.1ons - s1+aarai -
"as 49, - e+ ac-aar,eDt-
.,,rh;s. 1.esre +1,a TcEhiec+ matter of
aaanaa+ the eynress words
t sne 60 49, .t.njfcance IT was pro-
a ~ 80 w. V;refnj, sbonId as
49, 80 ~. hie 35ronortion OF the
sune n1 eTto;s ~ 80 1ot an nm
puouc oeoe. I ~ Yemen
sIs ses - $3.50 wes+ >Virp;nia was
.dse y. ~ ar ba,.eaI, . inst share of
70 taAs $3.50 ~ ra,,-aSe,,tad nv the
t tne puo-iS - 100 -eeard tle pro-
oo1oS ~ s..es4 ~ ,,,a9nressed i'm
s slst +bst fnterest. he excluded.
1 .C an assnr,,a an interest
, - 80. -, 1eans the taking over
oealte ,sSr.1xt-r +or +I,a interest as
OF Ine napi -. ~ AVA tF7e
w. wsaa ;s +,.,,e 5ro fanto Of the assump-
same Is tiue . ~ ~ .-eaor+ion, nf
t Ilon y, 81 '
the oeoe ..,...,r oo,,-
Both parues unquess 9o,1s 800 80.
templateo tnat 1ntese1l Mo 49,
upon these oonos. sae tA -
Ing provfS1on Ior pay I I1enl gu ny.
looking for oeLault. y LIZ ~
gina was not eApesee o ~,
burden OF the anLeresS acGt T ut1s W., ~
the share TO De taken Dy ti,e co--
GINA Inc very QuestAon " tsS 80.
tract was to secure-a oeeMeen
these parues-SlrelnaA Aonet !.
ton with respect 10 tnat snae -. -
1t was plainly not the 1n1ent1on Inas
either bondho1ders snou1o 80 VIZ
out interest as TO Ine p fopoi tion
Sumed by west virginia. VI NC
there should be !e1t WIZ rlnta sl.e
entire burden OF meetlnS In ~
est on the outstanoing oonos "nti -
the prlnc1pa was ap I"o. sion ~
must 1ollow IL eI ~. 49, go T v
an equitable snare oy west vtrsnla
related to hao1l1ty ZOE DOLL p1l1 !,ea
and interest we cannot iu '1e
contract otnerw1se-
Thus. the court o1sposeo Oh sH
vital question OF interest and VIII
the exception OF runne tnaAll-. tn e. =
ormous costs IN TINS case sn e "
borne equally by eacn Soc US ma nha,
opinion IS pract1caily 1oenSi SS 49, 49,
Its preceding OPINION n 1a4S =, o ths =
In OCTOBER. 1s1o; II Is sa1u - - .I Jas
opinion: we nave si .1i -, ~
ctslon VIII respeCt 20 tne oss.s y
I1ao1nty ana ene snare % ~ - - 49, ~.
pal OF the DEBT OF Slrsin1d LIZ "a VS. seS
Virginia assumed - 80 ~ 49,, W.
In any event, oeIore We cou1u a ~,
our judgment IN Iae Is a 1E,o % = o.I ha
decree there woulo pc nguIeu ~ y.
agreed upon OF 70 DC asS s.e ea.e 80 ~
reference co maseel. xel0os o s,os
things there St1l1 fend1nS Tue '4oeS