Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1880-08-23
MONETARY AND COlTNrrrr,

VIRGINIA MIDLAND Z. i. Bny,. B
Hambleton Il Co.'S Baltimore Fihsrcl., ~ +, T.
lar Il Saturday says: WIZ
The recent sudden advance in tso No.;
the Virginia Midland Rsi!rosd wss n,;,so"ts e
affairs OF tho company, except thst ia -. =" Ia
doing large and profitable business, az
believed that the interest will be pail nr VA i:
on sll tho bonds when the reorgsni.,i,, i.p'?
fected. The case comes up before ;he C6,'s:.
Appeals OF Virginia en- tho 10Th CT Scr,,..s;
and it is thought that tho writ of cstoppc v3i
withdrawn, and that the sale of tho road W.T.. W.T.; "a
confirmed. Orange s. Alexandria 81 m,r Tn.S %
advanced t;om 81 to 95 without. q sale sr S'. q.
mtg. bonds from do 20 IS on very small I f,o1'~
tons Grange, Alexandria t. Manassas h|sE
sold from "a TO %. The bonds OF thu v;s.:..-
Midland road certainly look yery rrn@;>"A
and it is rather surprising ,hat they tsrn
been taken IN hand sooner. Orange & bE,".'
dria and Orange. Alexandria s. Manass,. hr-r
nave oeea dull and neltc.ed tor several Mont,
When the Manassas bonds were first sts-,nj.
last week, the sales were heavy, AID srvn.,
largo blocks OF bonds wero marketed y. bs"I
some profits. Now that they have a,ivarcr1 N
per cent, there arc very fow bonds for ss,o sr,
as IS always the case new buyers arr bepinn"..
to como into the market. Even st thu s,ysn r".
We do not think that .heVirgn,a Midland ham,,
are unreasonable high,
The first mortgage Orange Il &,x,.I,.
bonds carry II per cent. Of over due i;,"rs,
and tho second mortgage bonds Is per co,t. -
over due interest. Tho former would sail .,
about ITO and the latter n! III As tho Eo,l.,
OF the first and second mortgage bond, viii -
ceive first and second mortgage bonds q =,
now company, dollar foc Gollsr, with a.! acr-,5i
interest. 1t will be readily seon this. In, r-o,r.,
prices are not too high. Tho third morlxag,h,rl
pIri, al
now quoted at %. arc to be exchanged for ibI,,
mortgage bonds of tho now company, Gollg7 m,
dollar, said now bonds to run So wears. .,l ha,
ing interest ct tho rate q per cen. for list fr.
years. and pGr cent thereafter Thesa BAN,
have boon in default siaca May, $50 All
under tho plan Of reorganization lho back ir,c,.
est from May, 1876. to July. 1879, Is cnu?o7.
OF SlO each, $40 on each bond) vii! be luaia,
INTO lirst preferred s.Ccs. Unless this stock h :
some value (fron tho way ihiaga ara going rn.
we suppose It will DO made good) 81 woul: ~.
pear aOont high enough for d third murtrs,n
bond, The Fourth mortgage bonds of tho Or.rr
u Alexandris road that aro now sailing ., ::
arc to be exchanged for fourth mortgage bon,
of tho new company, dollar for dollsr--ssii n,x
bonds to run ~ years and to bear interest q, the
rate O! per cent i,r first 10 years, par cont lr
next ~ years and per cHit thereafter Tho a.
forest from March $50. t. July, $50 l., h.
ldndeu ono hSli IN first preferred and ono hai -
second preferred Stock OF the now company. 4
in the case of the third mortgage bonds. tn, rr,
sptc lro value of the i.hs depends worry mg,I
upon Tho Value Of the stock which will rc.r
coiVed Tor tho iefsullel and past duo int ,.,,,
Tho Orange, Alexandria and Mar.sss ,Mh
thst arc selling nj 81 Ate to b, EXCHANGED f.. -.
bonds OF Tho now company, which shall hna T.:
mortgage on tho road irom Manassas .lun?.;..
10 Hnrrlshnburg, new boa! lo run - yrsfs A.,
TO BOAR lntorct nj tho rst, OF 5 per e.. The IL.
iaultad interest from January, 1873. up 10 Ju,y
1917. IL DO lunied lato first rreic7ro.l stock "a
tho new company. Tho mortgage I, b. riy,
for the Orange, hlrx.. " MANASSAS Ennis ,,..
vides Inst tho rental received iron, the Ent,,
more & Ohio Railroad. SO 800 por annnm, st,l
bo pledgad to Tho payment of ,ho ictnrf.t on II.
now bonds. This provision n!sles hStoni.
90 exchanged Tor tnr present Orange, hlrNa :
MANASSAS bonds ) por cent bond TIM: j. y,r;. -
ally guaranteed b; tho HsIt!ao q & 0!ia N.,l.
rosd Company, and considering tbs: lha ~: ..
red stock TO be issued in exchange Tor the. a..
iauIted intorcat, will p:1h,h!y havo som. y,..,
Orange, Alox 81 Manassas bonds W, nil = .,.
posr unrcasonaby high at par O0Ol