COMPTROLLER OF THE TREASURY. vii

FREE SCHOOL FUND.

' The total receipts into the Treasury on account of the
Free School Fund during the fiscal year were $70,502.08,
which, with the balance, viz., $5,470.47, remaining in the
Treasury to the credit of this Fund on the 30th day o'f
September, 1884, make a total of $75,972.55 to the credit
of this Fund during the year just closed.

The disbursements for the same period amount to
$68,752.08, leaving a balance of $7,220.47 to the credit of
said fund.

The statement gives in detail the sources from which
this fund was realized and the amount each county re-
ceived from the fund.

SINKING FUNDS.

To maintain the Sinking Funds is the hardest work
of the Treasury Department.

First to get the money, which is not always an easy
task, and second, to find the securities suitable for in-
vestment.

The Treasury officers have been kept busy during the-
year in search of boilds and securities in which to invest-
the money of the State due to these accounts.

Following the line of policy marked out in my last",
report, wherein I stated that it was the purpose of the
Treasury officers " to make application of the surplus-
revenues of the State to the redemption of its matured,
obligations for investment in the General as well as its
Special Sinking Funds and that we were forced to this
policy by our inability to secure proper securities with-,
out paying exorbitant premiums," we have carried te .
the credit of the various Sinking Funds $312,750.00 of the
Maryland Hospital bonds called in on the 1st day of
January, 1885.

There was received into the Treasury during the fiscal
year 1885, on account of the various Sinking Funds of the
State, the sum of $601,645.02, and there was invested in
the bonds of the State and of the City of Baltimore the
sum of $601,465.53, leaving the sum of $179.49 standing
to the credit of these Funds at the close of the Fscal year