xii REPORT OF THE

Table No. 5 shows the dividends paid on stocks held by the State
in the Baltimore and Ohio Rail Road Company, and Chesapeake
and Delaware Canal Company; the interest paid on the bonds of
the Columbia and Port Deposit Rail Road Company, and on the
debts due from the Northern Central Railway Company, and the
Susquehanna and Tide-Water Canal Companies, amounting in the
whole to the sum of $317,156.31.

The Baltimore and Ohio Rail Iload Company has paid nothing
during the fiscal year, from the one-fifth receipts from passengers on
the Washington Branch, nor has the Company rendered any ac-
count of the said receipts since 30th June, 1868.

Table No. 6 exhibits the amount of State tax retained by the
Register of Baltimore city, from the interest ou the city stock debt,
and the amount of State tax retained by the Treasurer of the State,
from the interest on the State debt—the former amounting to the
sum of $51,025.98, and the latter to the sum of $4,134.32, and both
aggregating the sum of $55,160.30.

Table No. 7 exhibits, in detail, the amount of State taxes received
directly into the Treasury during the fiscal year, from incorporated
institutions. The total amount thus received, was $53,643.64,
which is in excess of the receipts from same sources, during the fis-
cal year 1871, notwithstanding the fact that no taxes have yet been
paid into the Treasury by the active Coal Companies.

The Act of 1872, Chapter 274, having prescribed a different mode
of taxation for Coal Companies, bona fide, working their mines, and
directing, that where the coal tax of two cents per tou is paid on
the production of the coal, said payment shall be a discharge of the
State tax on the capital stock of said Companies so paying, I have
refused to receive the State tax on the capital stock of Coal
Companies known to be actively engaged in mining coal, until it is
ascertained with certainty, whether such Companies have paid the
coal tax, as directed by said Act,

The stock of Coal Companies being assessed at very low rates,
the State tax on said stock would, of course, be considerably less
than the coal tax imposed by the Act, and from this cause a num-
ber of the Companies engaged iu active mining operations, have
been desirous to pay the tax on their capital stock, intending, of
course, by that means, to elude the collection of the tax on the pro-
duction of coal. I have been careful not to embarrass or compro-
mise the collection of the tax imposed by the Act of 1872, Chapter