The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-01-02
.HOLDERSOF BONDS
DRAW IN TEREST
Largo Amount Distributed by
State i'll Scmi-Annual Pay
mcnt.
ARE HELD BY HOME PEOPLE
Virginians Favor Securities.
Schools and Colleges Big
Holders.
ARE HELD BY HOME PEOPLE

sixteen hundred holders of registered
bonds OF the State of Virginia. i'm ad :
dition to the owners OF coupon bonds.
VIII receive their semi-annual interest
this week. Checks will be mailed from
the Office of Second Auditor John G..
Dew covering the registered bonds.
The emi-annual payment OF interest
Will distribute about s+lS.oO0 among
The bondholders. 1t is estimated tina,
90 per cent. OF the debt OF the state Is
held by her own citizens. The custom
of mailing checks has proved popular.
for 1t permits the owners OF bonds 10
set their interest promptly and with
out trouble Formerly 1t was ncces-
sary for the holder or his representa-
tive to get In line at the office and
await payment.
Coupons Mt once.
OF course. interest on coupon bonds
is paid only as applied for upon APP
rlication nj the Office aud surrender OF
the matured coupons. No other course
would be practicable. in view of tho
fact that these coupons arc transfer
able and might easily he lost.
Because OF the fact that by act Of
the Legislature fiduciaries are author
lied to make Investments OF their trust
funds In these bonds. they have be-
come popular for this purpose. BY
this action the State holds harmless
loss all hducinries who invest
in her securities. This tends to hold
mp the market value of Virginia bonds.
to centre them In the hands OF her own
people. and to retain in the State the
large amount of interest paid on them.
Division or Interest.
Interest is divided among the DIFF
ferent securities approximately as fol-
lows:
To colleges ana the Dawson Fund
in Century bonds, on registered GER
tiiicates under the act of 1872. $4,000.
On RiddleNerEer coupon bonds. issued
under the act of lSS2 and anended In
1851, $4,000: on registered bonds under
the same act $4,000. Total about
$4,000.
On Century coupon bonds. issued
under act of 1892, and all amendments
thereto. '7s.ooo; registered bonds of
sarrc. $4,000. Total. about sc53,ooo.
On consoi coupons and ten-forty
coupons paid on judgments for taxes.
5000.
I.nrEc Shnrc for Schools.
Many Of the schools and colleges OF
the state get a portion OF this interest.
one Is Washington and Lee University,
which receives about $4,000 year on
bonds issued to IL In lieu of old James
River and Kanawha Canal stock. un-
funded registered state stock. and old
unfunded coupon bonds, which latter
were n donation To tho university from
George Peabody. of England.
The recipient OF the largest amount
is the Miller Manual Labor School. of
Automatic county which about
$4,000. In lieu of funded registered
cOnsol bonds. funded registered ''pcelcr'
bonds, tcn-forty registered bonds and
funded consols fractional certificates.
Virginia Polytechnic institute re-
ceivcs about $1,000. and the HAMPTON
Normal and Agricultural Institute
about $4,000. for certificate of the
debt of the state issued in 1917, In lieu
OF funded registered consol bonds.
funded registered "peelcr" bonds, IN
funded registered bonds and unfunded
coupon bonds.