The Sun.
London, England, 1866-11-12 00:00:00

DEBT OF VIRGINIA.

The following extract from the Richmond Times of
October 10th will, we think, prove interesting to holders of
Virginia State Bonds in this country :
" The credit of the State of Virginia has been somewhat
damaged by the ill-advised and incorrect statements of her
financial condition which have appeared from time to time
in different newspapers. In order, therefore, to correct,
as far as possible, false impressions, and to place before the
people of Virginia facts which they are entitled to know,
wo have investigated the subject for the purpose, giving
them a reliable statement of our State finances :

In April, 1861, the public debt of Virginia
amounted to
Interest on the same to July 1, 1863 5,071,337.29

Total debt of tho Commonwealth, including
interest, July 1, 1865 540,040,718.67

"As no provision had been made up to this time by law
for the payment of any portion of the interest on the State
debt, and as the Legislature found upon assembling that
all the State revenue that could be collected would not be
more than sufficient to defray the ordinary expenses of the
Government for the current year, no interest could be paid
upon it. An act was therefore passed authorising the fund-
ing of the interest due upon the State debt up to January
1, 1867. Under this act not two millions has yet been
funded. It is not probable that very much more will be
funded until the act expires by limitation on January 1,
1867. Then on the first day of January, 1867, the State
debt will stand thus :

Public debt due April 1, 1861 534,969,381.38
Interest on same to July 1, 1865 5,071,337.29
Interest on same from July 1, 1865, to _ _ _

January 1, 1866
1,039,216.95
Interest from January 1, 1866, to January

1, 1867 - 2,078,433.90

Total amount of debt and interest duo on
January 1, 1867 • 543,158,369.52
" The State of Virginia will require for the expenses of
the year beginning Jannaryl, 1867, inciuding the interest
of the State debt, $3,409,433.48.
"As things stand now the whole of this debt rests
upon us, and none upon the State of West Virginia. At
the last session of the Legislature Commissioners were
appointed to confer with other Commissioners to be ap-
pointed by the State of West Virginia, which were to con-
stitute a body empowered to apportion the debt, justly
between the two States. West Virginia, however, failed
to appoint Commissioners to confer with ours, and nothixg,
therefore, has been done. Some action will probably be
taken at the next session of the Legislature of West
Virginia."
The business in the London market for American secu-
rities has again been on a very limited scale, and the trans-
actions which have taken place have been chiefly on
American or Continental account. Quotations show no
alterations of any moment, at the close United States
5-20 Bonds being 681 ; Illinois Central Shares, 761 to
771 ; and Eries 501 to 14.
For Atlantic and Groat Western Consolidated Bonds
we have again to note a fair inquiry, but the Certificates
of Debentures have been a little more offered.

OFFICIAL TRANSACTIONS FOR THE WEEK..—United States
6 per Cent. 5.20 Bonds, 1882: Thursday, ; Friday,
681 4 1; Saturday, 68i ; Monday, 68 f ; Tuesday,
681 ; Wednesday, 641 I. Virginia 5 per Cent. Sterling
Bonds : Thursday, —. Virginia 6 per Cent. Dollar
Bonds : Thursday, —. Friday, ; Monday, 421; Wed-
nesday, 41. Atlan. and Gt. Westn. (N. Y. Sect.) Ist
Mrt. Bonds, 188( : Friday, —; Tuesday, —; Wednesday,
—. A tla,n. and Gt. Wcstn. 2nd Mrt. Bonds, 1881:
Friday, —; Monday, —. Atlan. and Gt. Westn. (Penns.
Sect.) Ist Mort Bonds, 1877: Thursday, —; Friday, 70; ;
Wednesday, •—. Atlantic and Great Western (Pennsyl-
vanian Section) 2nd Mrt. Bonds, 1882: Thursday, —;
Saturday, 661 7 ; Wednesday, —. Atlan. and Great
Western Consolidated Bonds, 1895 ; Thursday, —; Fri-
day, 41 401 ; Saturday, 41 40i; Monday, 481 ; Tuesday,
40 I 39} 401 393; Wednesday, 394 40 394 40f. Erie
Shares, $lOO, all paid: Thursday, —; Friday, 511; Satur-
day, 511 4 ; Monday, —; Tuesday, —; Wednesday, 51.
Erie Shares, 6 por cent. Convertible Bonds : Thursday,
House closed; Saturday, —; Wednesday, —. Illinois
Central 6 per Cent. Bonds of 1875: Thursday, House
closed ; Wednesday, Illinois Central 7 per Cent. Bonds
of 1875: Thursday, House closed; Monday, 65; Tues-
day, —. Illinois Central Shares, all paid : Thursday,
House closed; Friday, 77; Saturday, 81 ; Monday 761;
Tuesday, 77; Wednesday, 77 61. Michigan Central 8
per cent. Convertible, 1869: Thursday, —. Philadelphia
and Erie First Mortgage, 1881: Thursday, —; Satur-
day, ; Monday, 741 5 ; Wednesday, —. Philadelphia
and Erie First Mortgage, 1881, with option to be paid in
Philadelphia: Thursday, —; Monday, —. Pennsylvania
Second Mortgage Sterling Bonds, 1875: Monday, 81.

(From L. P. Norton and Co.'s Circular.)
NEW YORK, Oct. 27.

The week opened with a slight reaction from the late
extreme easy in money, arising from anticipations of a
demand for funds from the interior; but at the close an
easier tone is apparent, and money may be reported abun-
dant at 4 to 5 per cent.
The change in the tone of monetary affairs has some-
what checked the •speculative activity in the stock mar-
ket, but without producing any marked change in prices,
some stocks having advanced materially notwithstanding.
Erie has been comparatively quiet at 814 to 841, and
closed at 84 to 841. Illinois Central has fluctuated between
1251 and 1261, with moderato transactions, and closes at
125 to 1251.
Government Securities are in steady demand from home
investors, and have been generally firm during the week.
The purchases of Five-Twenties of 1882 on foreign account
have been limited, and prices have declined 4 from our
latest quotations ; the closing quotation yesterday was
1141 to 1141.
State Stocks have been less active, but steady in price.
The closing quotations are as follows :—" Tennessee 6's,
1890, 93 to 95 ; North Caroline 6's, 821 to 831 ; Virginia
6's, 681 asked ; Missouri 6's, 821 to 821.
Gold has been irregular, under active speculative opera-
tions. On the one hand, the anticipation of the disburse-
ment of $21,000,000 of coin by the Treasury, upon
coupons due on the Ist proximo, has tended to depress the
premium ; and on the other, combinations who hold large
amounts of gold have supported the market by fictitious
means, to secure an opportunity for selling. The price
has ranged at 145/ to 1481, and closes at 1174.
Foreign Exchange has been more active, and the rates
are to 4 per cent. higher than at the close of last week.
Large remittances will have to be made after the Ist No-
vember on account of coupons payable at that date, of
which it is estimated that not less than $7,500,000 will be
forwarded from foreign holders of bonds. At the same
tiwo, bills drawn against current shipments of produce
show an increase. Bankers' 60 days Sterling closes dull
at 109 to 1001 ; 3 days do., 1091 to 1101; Bankers' bills on
Paris, 60 days, 5.171 to 5.15 ; 3 days do., 5.131 to 5.121.

The cotton market has sympathised but little with the
decline at Liverpool, or with the announcement by cable
that the Lancashire spinners have decided to run on short
time. The market is sustained by the steadiness of do-
mestic cotton goods and the general tcnour of advices from
the South, which do not encourage anticipations exceed-
ing the estimates of yield given in our former advicesi.
The price bee fallen 11 to 2 cents, in sympathy with the
decline iu gold, and closes firm at 38} to 39 cents for
Middling Uplands. The receipts at all the ports for the
week ending October 13 amount to 25,000 bales, and the
exports to only 1,000 bales. Subsequently the exports
from this port and New Orleans have largely increased,
the shipments from New York for the week ending October
22d having been 4,317 bales.
FOREIGN QUOTATIONS.

_
Oct. 26. Oct. 19.
London commercial lO7l 1081 1061 107
Do. bankers' long lO9 1091 108 108
Do. bankers' short sight lO9-/ 110+ 108 109
Paris sixty days 5171 515 522+ 520
Do. short sight 5131 5121 518517
Antwerp 5211 520 525 522
Hamburg
Amsterdam
Frankfort
Bremen
721 72

Berlin 72.

(Glenn and Co.'s Weekly Circular.)
LONDON, Nov. 9.

The London market for American securities during the
past week has been, on the whole, remarkably active and
strong, considering the great depression which exists in
nearly all other securities dealt in on the Stock Exchange.
United States 5-20's, on the news of a riot in Baltimore, at
one time fell to 68, but have since rallied and close to-day
at 681 to 68k. Illinois Central are steady at same quota-
tions as last week, viz., 764 774• Erie Shares, notwith-
standing the lower quotations received from New York,
still remain at about 51. Atlantic and Great Western Cer-
tificates of Debentures are a shade lower, and aro quoted
at 64 to 66 ; and Consolidated Bonds at 39i to 40k.
The exports from America are rapidly in-creasing, on

1....."."

account of the new crop of cotton coming in, and from the
increased production of petroleum, one million. gallons of
the latter having been shipped from Philadelphia during
the week ending October 24.
We have orders from New York to purchase the follow-
ing coupons and bonds : —United States Government Cou-
pons, United States 6's of 1867-8, do. s's of 1874, Nov York
Central Sinking Fund, and Erie Ist, 2d, and 3d Mortgage
Bonds.