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Annual Report of the Comptroller, 1884
Volume 248, Page 21   View pdf image (33K)
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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:
   
Stock of the Baltimore and Ohio R. B. Co...........................
Stock in Washington Branch B.& O. R.R. Co..................
" Farmers' National Bank of Annapolis..................
" Annapolis Water Co...............................
Bonds of Northern Central Railway -A Mortgage..................
" to Credit of the Sinking Funds.............................
Cash to credit of Sinking Funds.............:...........................
$ 968,615 70
550,000 00
46,470 00
30,000 00
1,500,000 00
849,209 18
48 556 68
 
Balance, after productive Stocks held by the State and the   $3,992,851 56
Sinking Funds are deducted....................................... ..................... $6,973,082 89
The Debt was reduced during the Fiscal Year ended Septem-
ber 30th, 1884, by redemption and exchange, as follows :
   
Maryland Defence Loan, chap. 235 of 1868........................
§5 percent. Sterling, chap. 386 of 1838.............................
$3,309,450 66
10,000 00
 
    $3,319,450 66
The Debt was increased by issue of Defence Redemption Loan.
By exchange of Stirling for Maryland State Loan ................
Errors in Stirling Debt, as stated below.............................
2,992,450 00
10,890 00
12,222 22
 
    3,015,562 22
Net reduction in State Debt for fiscal year................   $303,888 44

* Of this sum, $4,050,000.00 is Sterling Debt, on which the interest is payable in London in gold or its equivalent. During the Fiscal Year 1884, 2,750 £ sterling (amounting to $12,222.22), have been added to the Sterling Debt in this Statement, in consequence of errors which have been discovered to have occurred from time to time running through a number of years.

+This amount of Maryland Defence Loan had not been presented for redemption at the close of the fiscal year.

++ Since the close of the fiscal year, a certificate for $7,550.00 of Defence Redemption Loan has beeu issuing to the General Sinking Fund, nuking the total of this loan $3,000,00.00.The Sterling Debt is this Statement, has always been computed at the rate of $4,444.19 per £ sterling, while the exchange of Sterling, Bonds for the Currency Debt of the State is directed by Section 13, of Article 94, of the Code to be made at the rate of $4.84 per £ sterling.

For For this balance of $6,955,782.89, the State has as an off-set her unproductive stocks, amounting to $27,320,539.82 and $1,485,305 46 due from Accounting Officers and Incorporated Institutions.

 

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Annual Report of the Comptroller, 1884
Volume 248, Page 21   View pdf image (33K)
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