REPORT OF THE COMPTROLLER OF THE TREASURY. V

Assembly of 1892, and the balance of Stocks, Bonds and Cash
Standing to the credit of that Fund were transferred to the
credit of the Sinking Fund for the Defense Redemption Loan
in accordance with the provisions of Joint Resolution No. 3,
of the aforesaid session of the General Assembly.

''Statement F,'' exhibits the sundry investments for the
several funds therein mentioned, as of September 30th, 1892.

DIVIDENDS.

Statement "G" shows the various amounts received from
dividends on Bank, Railroad and Canal Stocks, and the
Annuity secured by mortgage on the Northern' Central Rail-
way, during the fiscal year, amounting in the aggregate to the
sum of. $171,514,65, being an increase over the amount
received during the previous fiscal year.

OYSTER FUND.

The receipts on account of the Oyster Fund during the
fiscal year were $46,652.83, less than the previous fiscal year
by $5,607.50. . This difference is found mainly in the receipts
from dredging licenses.

The disbursements were $79,665.11. This sum is in excess
of the disbursements of the previous fiscal year by $6,019.30
which is more than accounted for in the considerable repairs
that were needed and made, on the Steamer McLane and sev-
eral of the sailing vessels ; as well as the sum of $2500.00 paid
on account of building three new Schooners for the force, as
directed to be built by an Act of Assembly at the last session.
The balance to the credit of the Oyster; Fund as of Septem-
ber 30th, 1892, was $46,708.48. For a number of years there
has been a gradual decrease in the balance to the credit of this
Fund, and recent legislation has not tended to increase it, but
it is gratifying to" know that the Force was never better equip-
ped than at the present time.

PRODUCTIVE AND UNPRODUCTIVE ASSETS.

Statement "I" shows the, productive assests of the State
to be $4,373,492.44, and the unproductive $7,110,626.99.

STATE DEBT.

The total indebtedness of the State as shown in detail in
Statement " J " was at the close of the fiscal year 1892, $8,684,-
986.24, a decrease of $2,036,656.28 from that of the previous
year. There was issued during the fiscal year $100,000.00 of
the Exchange Loan of 1891, as authorized by Chapter 305, of
the Acts of 1890, increasing that issue to $706,757.14. This
Act authorized the issuance of $970,595.35 for the redemption
of an equal amount of over due debt, but the Treasury Officers
found by using the $60,000.00 realized from the foreclosure of
the mortgage of the Columbia and Port Deposit Railroad Com-
pany as authorized by Section 3 of Article 12 of the Constitu-
tion, and $202,645.71 of the amount of the Direct Tax returned
to the State of Maryland by the United States, for the redemp-
tion of the out-standing over-due debt for which the Exchange-