xii REPORT OF THE COMPTROLLER OF THE TREASURY.

fullest assertion and protection of all the, rights, of ...the State of
Maryland in respect to its ownership in the stock of the Wash-
ington Branch of the Baltimore and Ohio Railroad Company."
Under this .authority the Attorney General has already taken
steps to carry out the provisions of the said Joint Resolution.

STATE DEBT.

Statement " J " shows the funded debt of the State at the close
of the fiscal year to be $6,309,3 26.13, or an increase of $600,000.
This increase is acco.unted for in the issuance January 1, 1900,
of the remaining $300,000 of the "Consolidated Loan of
1899" for the completion of the Fifth Regiment Armory, as
authorized by Chapter 219 of the Acts of 1898, together with
the issuance July i, 1900, of a part of the "State Building and
Improvement Loan "amounting to $300,000, as authorized by
Chapter 607 of the Acts of 1900, as previously mentioned in
these remarks. As an offset to this interest-bearing debt the
State holds bonds, stocks and cash, a detailed report of which
will appear in said statement, aggregating $3,424,057, leaving
the net debt of the State September 30, 1900, $2,885,269.13.

It will be seen by this statement that, while the funded debt
was increased $600,000, the net debt in excess of that of the
previous year is but $288,226.18.

ASSESSMENT. AND LEVY OF 1900.

In statement " K" is shown the .assessed value of property
for State purposes aggregating $616,719,782, which still con-
tinues to exhibit a very satisfactory increase, exceeding that of
the year previous by $5,180.136, thus demonstrating that as
the State increases in wealth and material prosperity such
increase is. contributing its share to the support of the State
government.

PUBLIC SCHOOL TAX.

The receipts and disbursements on account of this tax are
fully shown in statement " L." The receipts during the fiscal
year were $708,636.30, which, added to the balance on hand