Third: Because of the volume of consolidated purchases, original
sources of supply can be dealt with, resulting in the lowest
possible price.

Fourth Warehousing. A warehouse of 18,000 square feet capacity is
maintained in Baltimore City for the storage of staple sup-
plies purchased in quantities on favorable markets. Such sup-
plies are paid for out of a Revolving Fund of $100,000, which
ia available through Legislative appropriation. This provides
for prompt payment of bills and all invoices subject to dis-
count are paid within the prescribed period. The saving in cash
discounts alone more than pays for the cost of maintaining the
warehouse.

Because of this ability to warehouse considerable quantities of staple
commodities and cash payment for same, lowest possible prices are
secured. An accounting system has been developed, by means of which,
through simple debit and credit entries, funds are transferred from
Budget appropriations of Using Agencies to reimburse the Revolving
Fund. Supplies are withdrawn from the warehouse with a consequent
lessening in the amount of clerical labor on the part of the Using
Agencies in the payment of invoices.

Monthly meetings are held with the Superintendents of the various
State Institutions and other State Agencies present, at which time
samples are examined and contracts awarded. These monthly meetings
furnish a good opportunity for the heads of the various State Agencies
to meet and exchange advice with reference to the conduct of their de-
partments and institutions.

Every advantage is made of the facilities which the State has for
the testing of materials, supplies and equipment, determining those
commodities most suitable for use. Advice is also sought of the various
scientific agencies of the State to determine the composition of com-
modities offered for purchase, and subsequently to determine the com-
parison of delivered articles and samples submitted.

2..DIVISION OF DEPOSIT AND DISBURSEMENT
STATE TREASURER'S OFFICE..Annapolis.

Name Postoffice.
State Treasurer:

John M. Dennis ... ..... -... ... Riderwood
Chief Clerk:

Charles M. Speicher Severna Park
Assistant Clerks:

Milton L. Tull . ..... . ... .- . Annapolis
S H. Jones .. .. . ..... .. Annapolis
Clarence M. Taylor . . ... .. Baltimore
F Blanche Richardson .. .. ... Annapolis
H, M. Pawley Baltimore
The State Treasurer is elected on joint ballot at every regular ses-
sion of the Legislature, beginning with the term of the Governor, for
a period of four years, or until his successor is duly elected and qualifies.

The Treasurer is the head of the Division of Deposits and Disburse-
ments, depositing daily all monies received in such banks as he may
select, with the approval of the Governor; said banks giving sufficient
bond or approved collateral security satisfactory to the Governor. All
State money is paid out upon the warrant of the Comptroller by check
issued by the Treasurer, and countersigned by the Comptroller. He is
a member of the Board of Public Works; and also a member of the
other Boards having charge of the different State Institutions.