Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1881-02-21
MONETARY AND COMMERCIAL

VIRGINIA BONDS, &C.--J. &. Asmbcton Go =
Baltimore financial Circular CT Saturday Is,l
says:
"Tho transactions in Virginia bonds were y,sc
large, nearly 0JGC0 having changed hands
each day of tho past week. The orders ,n
buy We're chiefly for foreign account. and tho
demand was so constant and great, that prices
advanced with great excitement frcm to s per
cent Virginia consols commenced the week q,
Sl1, and from that figure advanced until thcy
touched Sc. the highest point ever before reached
Ten.Eorties opened ct 52a, and sold up 70 IS
Tho advance in prices brought out bonds hold
for speculative account and tho salos TO rCaEl,
profits, caused decline of about two por cent IN
consols and ten.forties It remains 10 be socn
whether the buying movement is strong enough
to absorb the bonds now on tho market 4
slight reaction from prosont prices would 10
healthy, and ct any decline both conaols and
l0.4Gs will do to buy. We consider I0,1Us 81
about present prices moro desirable than consols
as An Investment. In these bonds, the coupons
arc not only receivable Cor taxes, but sinking
! fund is provided-and after tho year 1888. tho
law, under which they were created, requires that
certain sum shall be set aside each yeor, to re-
deem the bonds at maturity. The III dUs arc
| also less liable TO violent luctustiona as thoy
/ have not advanced in proportion to tho rise in
| consols"
T. II. Maury s. Co.'S. Richmond circular Of
| same date says:
During tho week tho purchase Of Virginia
| consols has boon enormous, and altogether uu-
precedentod, both in tho amounts taken up and
| in tho prico given for Thorn. Buyers seemed
ready to take hold of all that were otforod, and
| sales havo boon made as high as SCI and the
highest price any Virginia bonds hsvo touched
since the war; as tho amounts taken in at these
! high lguros arc very largo indeed. tho sales
during single day exceeding several hundred
Thousands Of dollars, wethink that the price will
/ DO maintained, though not, perhaps. at tho
| highest, because the now purchasers will be
directly interested in keeping up tho valuo OF
their investments. Tho demand seems to have
been genuine ono, and it is evident that these
bonds have attracted an entirely new class Of
buyers, who purchase to hold and thus take
largo lots of them permanently from the market
Toward tho close of the week, q portion of tho
rapid advance which had carried these bonds
in few days from ia to 8Gi, WAS lost, and they
close at about 81. The ton-fortios hava eympk.
thized, of course, with the conaols, and while
their advance has not been 80 great, their do
elmo at the close Of the week has also boon much
less. Poelers, too have shown an unwonted &C
tivity, and have, after long roposo below 30
| reached So. There seems 10 hsvo been an under
current OF opinion in reference 10 these bonds
| which has probably crested this speculative de-
msnd for Thorn. They close weak at 32i. D.
ferred was much wanted. and we note sales rs
| high as l6i Tho belief is evidently gaining
ground that West Virginia must mako somo
provision for her portion of the debt. Virginia
| coupons are somewhat stronger and cannot be-
now had under 93l or G33."