Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1876-11-20

interest is claimed upon it, but IL the pre-
sent financial condition Of the Virginia Mid
land Co., it does not seem to have as much
value as it had few years ago.
In 1856 the sinking funds were consoll-
dated and the City Council enacted that
':there shall be annually added to the estimate
for revenue to be raised within the Corpora
lion for other purposes, the sum of five thou
sand dollars, which shall not be appropriated
to any object other than that herein provided
Tor.
",rhc Commissioners under this act shall;
quarterly, or oftener, if the funds under their
control shall justify it, proceed to invest the
same, as well as any other funds coming into
their hands, to the best advantage, IN the
stocks issued BY this corporation, and when
such investment shall be made, the bonds
and certificates purchased shall be returned
to the auditor, whose duty it shall be to can
eel the same, and enter the sum to the credit
of said commissioners upon the books Of the
corporation, giving them / certificate of such
investment and credit.
The stocks, money and effects now held by
| the present commissioners Of the sinking
fund, shall be transferred to and held b.,
the commissioners hereby appointed, tor the
| use and purposes aioresaid--subJect however
| to the debts for which the same are now
| liable.
'''Ihc stocks held by the trustees named IN
the several acts authorizing subscriptions by
this corporation to the stocks of the Orange
and Alcxandria Railroad Company, The Ma
nassas Gap Railroad Company, and to the
Alexandria Water Company shall by sad
trustees be transferred to the commissioners
hereby authorized, who shall hold the same
upon the trusts respectively expressed IN The
said acts
The auditor shall draw his warrants upon
| the treasurer, in favor Of said Commissions
ers, for the fund provided fog in the lst sec
ton, and also for all interest accruing upon
stock purchased ard credited as herein pro
videa for, as we'll as upon ally other stocks
under their control, as the same may be re-
Iqniste in carrying out the objects Of this art.
''Thc said commissioners shall, on the LIST
day of August and lst OF February in every
year, furnish to each branch OF the city
council. statement, showing in detail all
I their transactions for the proceeding hall
| year, and the then condition of the funds
under their control.
The mayor the president of the board 0!
aldermen, the president Of the common coun-
ell, the auditor ard the treasurer OF the cor
poration, and their successors in Office, are
| hereby appointed and made commissioners
Of the sinking Fund created by this act
In 1871 an act was passed authorizing the
commissioners Of the sinking fund to sell
two thousand shares Of the stock Of the
Il Orange and Alexandria Railroad Com
pany, and invest the proceeds in the cree
ton Of buildings on the market square
anu appropriate the revenue thcre1rom,
and it was provided that when the commits
sioncrs of the sinking fund shall have re.
deemed the bonds of the corporation issued
under San act authorizing the purchase OF
two thousand shares Of stock in the Orange
and Alexandria Railroad Company passed
| January 2, 1S49 they shall make their final
report to the city council and shall turn over
investments made by them to the city coun-
ell for cancellation, and their control over the
revenue derived from the stalls, stands and
benches in the market square, and from the
rent Of rooms in the building therein shall
cease.
! These are the enactments out Of which
has grown the present sinking fund.