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As an off-set to this debt, the State holds the following Bonds
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. & O. 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
401,529 18
495 46
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$3,863,110 34
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Balance, after productive Stocks held by the State and the
Sinking Funds are deducted.......................................
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$7,405,921 44
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The Sterling Debt was reduced during the Fiscal Year ended
September 30th, 1882,by exchanges as follows:
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t5 per cent. Sterling. chap 386 of 1838
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$128,888 91
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* Of this sum, $4,056,666 67 is Sterlings Debt, on which the interest is payable in London in gold or its equivalent.
tIn the redemption 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, made during the Fiscal Year, amounts to
$140,360.00, although the Sterling Debt seems to be reduced but $128,888.91, the Sterling Debt having been always computed in this (state-
ment at the rate of $4,44 4-9 per £ sterling.
For this balance of $7,405,921.44, the State has as an off-set her unproductive stocks, amounting to $26.515,045.58 and $1,499,207.57
due from Accounting Officers and Incorporated Institutions.
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