The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-01-08
STATES PUBLIC
/ DEBT RECOUNTED.
Sinking Fund Commissioners
Buy Riddlebcrgcr Bonds
With Income.

According to tho annual report of
Second Auditor John c.. Dew. the en-
Trio outstanding debt OF Virginia at
the close OF the past fiscal year wa.
| s25.SSo,i0o.6i OF this sum. st70,51l.yi
| is OF tho old unfundcd debt, while the
remainder of $24,909,SSS.13 is tho in
; tcrest bearing debt.
This sum is divided as follows: S1G-
666.%2S.I2 Of Century bonds, bearing
per cent; S5,775,95i.lG of Riddle
berEer bonds. bearing . per cent; 81.
! tered certificates. bearing 6 per cent /.
sS2So0 OF schools and colleges certin-
Gates bearing per cent. and s1,150 of
ST. Paul's Church endowment fund,
bearing per cont.
Process oF RcfundinE.
Tic Century bonds, to the value OF
SlS.06o.iS59S, were issued in lieu OF
old dents. suc! as coupon consol bonds,
ten-forty coupon bonds cunsol frac-
tional certificates '.peeler" coupon
bonds and certificates, black scrip and
Most OF this camo from the bond
holders committee ut the time of set
dement,. tho remainder being surren-
dcred TO tho Sinking Fund Commits
slcners under acts Of the legislature.
West NirEinia's portion of the bonds
and interest surrendered is sGd7 So.
of which $S5a. l?s.39 camo from the
bondholders' committee. and the re-
; lnaindcr to The commissioners.
There yet remains Si7o.5l1,9i of tho
v Il. w
yet be funded. OF this, slS3,051.4S is
/ for bonds and ccrtilica les issued under
acts passed prior TO February ~. 1852,
| the unfunded bonds being reduced one
third for West NirEiniI8 portion The
remainder is for accrued interest due
| to July l.. 1921, less the amount fund
ell since that time
The Second Auditor estimates that
of this sum possibly S102.669.0T. rep
resenting part principal and part in
terest may be held In tho name Of
n iktN
MES, which cannot be funded. lie feels
safe in saying that II considerable nor
ton of the residue. perhaps as much
as onc-hnlf. or about $lSb,0OO MAJ
have been lost or destroyed. and will,
therefore mover be presented for set!
, tcment.
hold registered certificates issued to
them upon their surrender OF certain
old stocks and bonds.
The literary fund, according to thee
report, holds Sl,SO3,4:T.2S Of bonds OF,
the state.
buying Bonds.
Tho sinking fund holds no bonds,
During the mast fiscal year tho Sink
ing Fund. Commissioners have pur-
chased $4,000 IF Riddlcberger bonds.
This was 'cne with the Income from
thc dividends OH Richmond. Freder-
lcksburg ana Potomac Railroad Com
pany stock and on Berryville Turn
Dixie Company stock, and with interest
The purchases were made as,follows:
$4,000 Riddleberger bonds ut a cost of
S69.6 o3.3i: $3.50 Riddlcberger frac-
tional certificate ut cost of SS0.39.
and S134.5i century fractional certih-i
cate at n cost Of S1OO.44. +
An appendix gives the statement asl
to the condition of the Miller fund |
Judge Dew comments in part as fol-
lows:
Claims Settled. /
while the statement of the old un-,
funded portion of the debt may not bet
positively accurate, ] am we'll assured.
1t is substantially correct II is esDs-,
cially gratifying to report that the,
count erclaims between the State of
been settled in pursuance of the terms;
OF the act of Congress authorizing and
directing the same. and thereby n
large amount of old bonds have beer
returned to the State and cancelled