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As an off-set to this debt, the State holds the following Bonds
and Stocks, on which the interest and dividends are
promptly paid, to wit
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Stock of the Baltimore and Ohio R. R. Co. .........................
Stock in Washington Branch; B. & O. R. R. Co.........
Bohemia Bridge-Company.................................
Baltimore and Frederickto'wn Turnpike Co..........
Baltimore and Yorktown Turnpike Co................
Farmers' Natioaaf Bank of Annapolis................
Chesapeake and: Delaware Canal Co.....................
Bonds of Colombia and Port Deposit R. R.Co............
Northern Central Railway— Mortgage.............
Susquehanna & Tide Water Canal Co's. — Mortgage,
to Credit of the Sinking Fund..................
Cash to credit of Sinking Fund for reduction of Public Debt.
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$1,062,008 90
550,000 00
15,876 99
11,000 00
2,500 00
46,470 00
81,250 00
60,000 00
1,500,000 00
1,000,000 00
96,855 84
28, 468 87
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Balance, after productive Stocks held by the State and the
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$4,454,370 60
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Sinking Fund are deducted. ........................................
The debt was reduced during the Fiscal Year ended Septem-
ber 30th, 1876, by redemption and Exchange as follows
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$6,276,154 86
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6 per cent, debt chap. l5 of ,1864.........................
6 " " " 469 of 1874......................
6 " " " 233of 1874....................................
+ 5 " (Sterling,) sundry chapters..................
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$7, 200 00
100 000 00
260,000 00
319 888 88
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Total reduction.............................
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$ 677 088 88
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* Of this sum, $5,014,333. 35 is Sterling Debt, on which the interest is payable in London in gold or its equivalent.
+ The Sterling Debt being originally calculated at 4.44 4-9 per £ Sterling, the amount reduced on that basis appears to be $319,888 88
whereas, being payable in gold, and rated by Article 94, Sec.13 of the Code, at 4.84 per £, the cost to the State, is $348,359.00.
For this balance of $276,164.86; the State has aa an off-set her unproductive stocks, amounting to $22,957,935.87 and $2,000,000.00
due by the Baltimore and Ohio Railroad Company Accounting Officers and Incorporated Institutions.
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