Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1875-11-29
STATE FINANCES

Inc Auditor OF the State has submitted his
'annual statement to the Governor containing
much important Information 10 reference to
the finances of the State which will be read
with interest.
The amount of the public debt proper on the
30th of September, 1875, the end OF the fiscal
year, exclusive OF bonds and certificates held
by the Literary Fund and Sinking Fund, was
S29,5l4, SO. The debt as reported the lst
of October, 1874, was $29, 957, 0lO.75, but it
has been reduced 10 the last year by purchase
OF bonds by commissioners of the SINKING
Fund s404, 100, and by bonds funded for stock
| received IRON the Auditor and transferred 20
the Commissioners OF the Sinking Fund, SS7.-
SS4.37; leaving actual debt, as above S29,-
| SID, 426. 80.
The amount of tax paying coupons issued to
October lst was SIS, 1881 500; amount of regis
tered bonds and fractional certificates which
may be converted at the option of holder. into
such bonds, 81 1855 SIS 80-making the amount
of conSo debt ECU, 237 ,Ul5.SO. Amour, of
debt funded aud TO be funded in bonds not cou-
vertlbe luto consos, 50 277, 4lO. 5S-makinp
debt proper S29, 5l4 426 3S. Amount recog-
nized as West Vlrgiula's portion, SIS, 239, =
37O74
The whole amount of t1x-payiug coupons
issued from the lst of July 1871, to October
lst is S4062,9l5. From which deduct the
amount paid into the treasury for taxes 81.
$50 S22; ADD the amount paid 10 cash at the
treasury at the rate OF four per ct. per aunum
with certificates issued for deferred two per OF
$l,044, 775-otal, 1885, 597-leaviug out
standing upon all heret )tore issued including
July, 1875, S767,3lS.
The amount OF Interest on the DEBT prone,
for the year ending 3Uth September, 1875, al
four per ct. on the six per Ct debt, aud three
and one-third on that bearing five per cent ,afte,
deductlug coupons received for taxes to October
lst, 1854, 4U3 &c. amount due for arrears cf iu.
tercst at those rates, due to October |, s345,
46093. Total, $l,l99, 1854 20.
Aud this includes all the past due coupons
outstanding, including those OF July, 1878, at
the rate of four per CT. per auuum, SO that
TO tue extent to which such coupons may come
toto the treasury for taxes, onc-thrd Of their
face value must be added to the above amou of
as necessary to meet the demands to this tune.
There Is Legislative authority uow for the pay
ment OF such interest as the board may think
proper to order On account OF January aud July
1875, only.
1t may not be amlSS to say hat our debt rcp
resented by coupon bonds. with coupons al,
tachcd receivable for taxes, is known in the
market as ''cunsols aud the other class n,
''peeers' or "secuud SERIES"
The condition of the Literary Fund is sub
stantlaIiy the same as at date Of last report
l he board has funded all the stock held b,
them, except seven per ct. certificate, which
could DOT Dc funded, there being no AUTHORITY
tor funding any bu the five aud SIX per cent
stock
Sinking Fu,d
The report of the commissioners shows that thew
| have acquired by purchase of State bonds
funded under act OF March 30, 1871, amount
ing to:.. .................. S90I, 030 a
BY funding stocks II cclveu on ac
count of sale CT States interest
=, in railroads.. :.....;.... l999,222 os
| BY funding stock transferred by
Aud tor under act Of Assembly, 1884 g.
By funding stock held by the old
sinking fund under act of March
81, 1S15.... NEUTRALITY-SUSPICIOUS.. 20l7,63 Il
Aggregate OF State bonds....."... Sl,96l, Gil &C
And certificates for deferred in
terest OF one third s..,ount DUE. Sl97 $40 Ct
| And West Virginia certlfcates.... 2O23 4T9 4G
The Interest.
Due and payable on Goth Septem-
Der, 1876, at the rate of iour per
| cent on SIX per cents, and three
| and one third on five per cent
bonds.... .................... SID, 1921 &c
Amount OF interest at those rates
which will fall due lst January
and lst July, ls76......... 800. 1885, 81
Making the amount to ba provided
in next nscal year ending Both
September, 1S76......... ,.......,.. SSl9.70S %
| Recapitutation Of Interest.
| On public debt proper for balance
due 3Oth September, 1915, at the
rate OF TWO thirds OF full interest ST. l9J SGi 29
To Literary Fund
! Balance due Both Sop
:, TENDER, lS75,........ S72,476 50
For amount payableon
| 1st January and lst
July 1876. s3,907 Sd
10 Sinking Fund.
! Due on 3U.h eptem-
Der, 1675.............. III, 321 Sc
For January and July,
| 1870. 1913, 466 81
-- 3l9, 7Ss %
1oLal. 81 OIO U3U 9b
| Which Is the amount 10 be provided for for pay.
ment of interest prescribed by law up to end of
fiscal year September 3D. 1876, to the Literary
| Fund aid the Sinking Fund, and for paymeu.
| of interest at Jour and at three and one third per
cent per snnGm on the public debt proper to
the 3Oth September, 1875
| The Auditor says: We have no means of
knowing where our public debt is held, but
| from the best estimate We can make, there is
owned by citizens aud corporations 10 Virginia
o1v ,n.ll,n ~ Il, /