6 REPORT OF THE

THE "FUNDS."

Statement "E'' exhibits the Free School and Sinking Funds,
constituting the "Funds," as they are called. On the 30th
September, 1868, there remained in the Treasury, to the credit
of the Free School Fund, the sum of $12,534,93. The receipts
during the last fiscal year, on account of this Fund, amounted
to $62,168.09, making in the aggregate $74,703.02. The dis-
bursements during this period, amounted to $72,089.10, leaving
a balance on the 30th September last, to the credit of the Free
School Fund, of $2,613.92.

There was received during the fiscal year ended September
30th, 1869, the sum of $83,933.51, to the credit of the Sinking
Fund, which was invested in Bonds of the "Defence Loan,"
bearing interest from July 1st, 1869, at the rate of six per
cent, per annum, payable semi-annually.

You will perceive that the receipts on account of "Free
Schools," is still short of former years, owing to the fact that
nearly all the former State Banks have been converted into
National Banks and refuse to pay the bonus of twenty cents on
the one hundred dollars of their Capital Stock. A recent deci-
sion in the Superior Court of Baltimore City, to test the ques-
tion of the liabilities of former State Banks—now under nation-
al charters—for this tax, has been made in favor of the Banks.

The falling off from this source for the last four years, as
compared with the preceding four years, averages the sum of
$19,602.21 per annum.

INVESTMENTS.

Statement "F" shows the investments for the "Sinking Fund"
and the "Free School Fund," the several items and aggregate
amounts in the former being $1,675,443.22, and in the latter
$302,404.00, less $887,14, for the Indigent Blind.

DIVIDENDS.

Statement "G" exhibits the several amounts received from
dividends on Bank, Railroad and Canal Stocks, during the fiscal
year, amounting to $104,047.58. No sale of Stocks has been
made during the past year. "OYSTER FUND."

Statement "H" shows the receipts from Licenses, Fines, &c.,
to have been $61,301.49, which added to the amount remaining