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As an off-set to this debt, the State holds the following Bond
and Stocks, on which interest or dividends are promptly
paid, to wit :
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Stock of the Baltimore and Ohio R. R. Co........................
Stock in Washington Branch B. & 0. R. R. Co................
" Farmers' National Bank of Annapolis..................
" Annapolis Water Co...............................
Bonds of Baltimore and Ohio R. R. Co.............................
" Northern Central Railway -- Mortgage..................
" to Credit of the Sinking Funds.............................
Cash to credit of Sinking Funds........................................
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$ 968,615 70
550,000 00
46,470 00
30,000 00
366,000 00
1,500,000 00
213,240 00
20,838 08
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$3,695,163 78
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Balance, after productive Stocks held by the State and the
Sinking Funds are deducted.......................................
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$7,562,396 91
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The Debt was reduced during the Fiscal Year ended Septem-
ber 30th, 1881, by redemption conversion and exchange,
as follows :
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5 per cent, currency, chap. 104 of 1827........................
5 per cent. Sterling, chap. 386 of 1838...........................
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$24,000 00
50,000 00
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$74 000 00
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* Of this sum, $4,185,555.58 is Sterling Debt, on which the interest is payable in London in gold or its equivalent.
+ in the redemption, conversion or exchange of the Sterling Debt, the calculation being required to be made at the rate of $4.84 per £ sterling
as per Section 13, of Article 94 of the Code, the increase of the Maryland State Loan by exchanges, and Sterling converted into currency,
as per Ch. 41, of 1847.during the Fiscal Year, amounts to $54,450.00 although the Steeling' Debt seems to be reduced but $50,000.00, the
Sterling Debt having been always computed in this statement at the rate of $4,44 4-9 per £ sterling.
/&T For this balance of $7,562,396.91,-the State has as an off-set her unproductive stocks, amounting to $26,112,298.46 and $1,402,000.00
due from Accounting Officers and Incorporated Institutions.
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