

EEPORT OF THE EXECUTIVE COMMITTEE. 581 



Deferred certificates. 



No. 4543, dated July 1, 1871 $29, 375 07 



No. 2969 . . 50 13 



(These certificates are in charge of Messrs. Riggs & Co.) 



Total par value of Virgiuia securities 88, 125 20 



The State of Virginia has made only partial provision to pay the in- 

 terest on its debt, but, as the coupons of the consolidated bonds are 

 receivable for taxes, they have a commercial value, and were sold, by 

 direction of the Institution, during the year by Messrs. Riggs & Co., as 

 follows : 



Coupons on $58,700, due July 1, 1874, and January 1, 1875 ; sold June 

 14, 1875 : 

 $3,000, at 89 £ . . $2, CSS 00 



510, at 89| 457 73 



3,142 73 

 Less £ per cent, commission 17 55 



3,125 18 



12, at 89 J, less commission ] 68 



$3,135 86 



3,522 



Coupons on $58,700, due July 1, 1875 ; sold 31st Decem- 

 ber, 1875 : 



$1,761, at S4£ $1, 488 04 



Less £ per cent, commission 8 80 



1,479 24 



In addition to the above, the Institution had in its posses- 

 sion coupons for one-third the interest due on the 1st ot 

 January and 1st of July, 1872, amounting to $1,174, the 

 remaining two-thirds ($2,348) having been collected by 

 Riggs & Co. and sold for the Institution, according to their 

 statement of November 9, 1872. (See Smithsonian Report 

 for 1872, page 81.) This amount, $1,174, above referred to, 

 was sold by Riggs & Co. on the 14th June, 1875, with the 

 following result : 



$1,174, at 12 $140 88 



Less commission 5 87 



135 01 



Total amount realized from sale of Virginia coupons in 



1875 4, 750 11 



There still remain unsold the coupons on the $58,700 bonds due 1st 



January, 1876. 



