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As an off-set to this debt, the State holds the following Bonds
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and Stocks, on which interest or dividends are promptly
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paid, to wit:
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Stock of the Baltimore and Ohio R. R. Co...........................
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$968,615 70
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Stock in Washington Branch B. & 0. R. R. Co..................
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550,000 00
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" Farmers' National Bank of Annapolis..................
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46,470 00
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" Annapolis Water Co..........................................
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30,000 00
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" Baltimore and Fredericktown Turnpike Co..........
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11,000 00
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Bonds of Baltimore and Ohio R. R. Co..............................
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366,000 00
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" Northern Centra] Railway— Mortgage..................
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1,500,000 00
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" to Credit of the Sinking Funds...............................
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411,209 18
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Cash to credit of Sinking Funds.................................
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13,858 66
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$3,996,153 54
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Balance, after productive Stocks held by the State and the
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Sinking Funds are deducted.....................................
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$7,273,669 35
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The Sterling Debt was reduced during the Fiscal Year ended
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September 30th, 1883. by exchanges, as follows :
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+5 per cent. Sterling, chap. 386 of 1838...........................
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$8,888 89
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* Of this sum, $4,047,777.78 is Sterling Debt, on which the interest is payable in London in gold or its equivalent.
+in 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
$9,680.00, although the Sterling Debt seems to be reduced but $8,888.89, the Sterling Debt having been always computed in this statement
at the rate of $4,44 4-9 per £ sterling.
For this balance of $7,273,669.35, the State has as an off-set her unproductive stocks, amounting to $26,906,792.70 and $1,439,780 06
due from Accounting Officers and Incorporated Institutions.
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