The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1919-02-11
|||l[B' Commission
Makes REPORT
Says Legislature Ought to
Accept the Virginia
Offer.

CHARLESTON. w. Va. Feh IL ~
The Virginia debt commission Of this
state, in its latest report cubmitted to
the Legislature today by Governor
Ccrnweil, by Its correspondence with
the Virginia commission aud by de-
tailed Statement of its own. sets forth
In full the basis Of settlement OF the
debt secured in part by the commits
sion and more fully by the legislature
Itself from Randolph Harrison, chair.
man Of the commission.
The commission went so far as to
express the lelief that this is the best
and only concession that may be Sc
cured from Virginia. but declared
"The quesricr Of accepting Virginia's
proposition, made direct to you by Mr..
Harrison, as a result Of our nego
tiations, is one. as We understand 1t,
wholly for the legislature.
briefly stated again, tine commits.
sion CONTINUES" that proposition is:
First Tina! you satisfy the tuds.
ment with bonds delivered to the state
Of Virginia, at par, less the payment
of 81 .062 S67,1l6 in cash and one hall
the costs OF the suit, as declared by
the court.
Second That the said bonds cover
period Of twenty years and bear 81
percent interest.
Third That this state retain in
her treasury or in escrow bonds 70
the amount OF the llndeposted certi-
ficatcs, to be turned over only wien
or;if such outstanding and undepos-
tied certificates are presented.
"The market value of 3a percent
municipal and state bonds ~ t'e
present time. wearc advised is az
proximatelv $S4 on the 500 Whether
therefore, the legislature desires r
settle on the foregoing terms the
judgmea: which the supreme court
says 1t has the power to enforce. with
holding bonds covering the undelirer-
ed certificates. proposition which
this commission believes is the very
best ana only concession that can be
obtained, IL a matter for the legisla-
ture and for nc one else to determine"
The report is signed by all five
members Of the commission as fol:
lows: John j. Cornwell. chairman;
w. T.. Wells. Joseph II. Miller, w. I.
lee and William McKell
The saelfic information asked OF
the commission by the legislature res
olution was a: follows:
First-Was there an agreement be-
tween the commission o. the two
states as 10 the amount West yir-
ginia should pay to the state OF West
Virginia, und how the same was TO
be paid?
Seeond-lr any such agreement was
made, does the commission recon-:
mend the ratification and execution of
said agreement by the legislature OF
this state?
{ And replying specifically TO those
Inquiries, the commission said:
"There are no agreement between
the commission of the two states as
10 the amount West Virginia should
pay Virginia. There was bona fide at
Tempt TO reach an agreement, OF which
you have been advised by our former
report. by statements of counsel and
81 three members OF this comission,
made to you in executive session, and
as we a5nm reiterate IN the following
recital OF facts.
"Tho commission relates It's re.
peate,l efforts to get conference with
The Virginia commission. despite the
rebuffs 1t net for a time. and then
gives the correspondence between the
commissions which contains the pro.
.posals Of tic West Virginia commits
sion, together with the coulter pro-
posals from Virginia.
In explaining its reasons for not In.
.ludlng This correspondence in its
former report, it is stated that the
Virginia commission requested and
This commission was compelled to
agree that Unless the proposition un-
Ter discussion in the letters was rec
smmendel to you for your favorable
consideration, that it would not be
presented or submitted at ALL 5
I. 4 j. 3