An analysis based on the law of conservation of the z component of field and particle momentum in a thin annular magnetized monoenergetic electron beam in a two-section drift tube composed of tube segments with different radii (R-1 < R-2) allowed the critical injected beam current to be determined for which a virtual cathode, formed in the wider tube at the joint section, starts traveling through the narrower tube toward the beam injection region. A region behind the traveling virtual cathode features a "squeezed" single-flux state of the beam (corresponding to the "slow" left branch of the current characteristic, high charge density, but low relativistic factor). When the injected current decreases below a critical transition level (I-in < I-Tr), the virtual cathode returns to the initial position and restores the double-flux electron beam. This current is smaller than (I-lim 1 + I-lim 2)/2, and, depending on R-2 , varies from the limiting transport current for the narrower section (I-lim 1) up to I-F/2, where I-F is the Fedosov current for this tube section. (C) 2003 MAIK "Nauka/Interperiodica".