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Clinch Valley News
Tazewell, Jeffersonville, Tazewell County, Virginia
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The State of Virginia prepared to pay approximately $432,000 in interest on its public debt on January 1, with $219,430.17 mailed via checks on Monday for registered bonds and certificates, including Century bonds, Riddleberger bonds, refunding school and college certificates, and highway certificates. Additional $213,000 in coupon interest was due upon presentation.
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Richmond, Dec. 31.—Approximately $432,000 of interest on the public debt will be due by the State of Virginia on January 1, and the State treasurer was completing preparations for its payment at the time due.
Of the total semi-annual payment of interest mentioned checks for $219,430.17 was mailed out on Monday in order that those holding the bonds and certificates could receive their money on New Year's Day. The total represented by these checks is the registered interest on the following classes of State obligations:
Century bonds, $139,373.42; Riddleberger bonds, $26,328,000; refunding school and college certificates, $28,760,000; highway certificates, $24,966.75.
In addition to the above semi-annual was due the approximate amount of $213,000. This interest not being in registered form is paid on the presentation of the coupons and many coupon holders did not ask for payment January 1. The approximate amounts of coupon interest on the various classes of obligation follows:
Century bonds, $54,000; Riddleberger bonds, $14,000; refunding school and college certificates, $20,000; highway certificates, $125,000.
Handling of the public debt of the Commonwealth is a branch of the State's work which the treasurer has inherited from the office of second auditor, recently abolished.
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Domestic News Details
Primary Location
Richmond
Event Date
Dec. 31
Outcome
approximately $432,000 in interest paid: $219,430.17 via mailed checks for registered obligations (century bonds $139,373.42; riddleberger bonds $26,328; refunding school and college certificates $28,760; highway certificates $24,966.75); additional $213,000 in coupon interest (century bonds $54,000; riddleberger bonds $14,000; refunding school and college certificates $20,000; highway certificates $125,000) paid on presentation.
Event Details
State treasurer completing preparations to pay interest on public debt due January 1, with checks mailed Monday for registered forms to arrive on New Year's Day; coupon interest paid upon presentation, many holders not requesting payment on January 1; handling inherited from abolished second auditor office.