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REPORT OF THE COMPTROLLER OF THE TREASURY, vii
entered by the Company to the Court of Appeals, which will be
heard at the January term of said Court. "
When the case came up in the Court of Appeals the State's
interests were ably represented by the Hon. Isidor Rayner, At-
torney-General, the court affirming the decision of the lower
court. From this decision of our Court of Appeals, the Company
has taken an appeal to the Supreme Court of the United States,,
where the case is now pending.
DISBURSEMENTS.
Statement "B" will give you in detail the character of the dis-
bursements and the Acts of Assembly authorizing the same, aggre-
gating $3, 120, 626. 37, being $359, 907. 89 less than the previous
year, notwithstanding the fact that a much, larger sum was car-
ried to the Sinking Funds during the present year, exceeding that
of the year previous by $1. 10, 356. 98. In said statement you will
also find the balance in the Treasury proper at the close of the
fiscal year, $972, 412. 91. While this sum is the actual balance
in the Treasury proper, I wish to call your attention to the fact
that the cash available to the ordinary expenses of the government
is only $521, 787. 57, or a sum less by $450, 625. 34.
This will be fully understood when I state that under Chapter
219 of the Acts of 1898 and Chapter 607 of the Acts of 1900,
bonds were issued and the moneys arising from the sale of these
bonds were covered into the Treasury, and were specifically ded-
icated to the purposes therein mentioned, the amounts at the
close of the fiscal year being as follows:
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Fifth Regiment Armory....................................
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$142, 540 14
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State Building at Annapolis................................
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258, 085 20
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Maryland Penitentiary.....................................
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50, 000 00
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Total.....................................................
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$450, 625 34
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The policy of the Treasury officials has been to retain in the
Treasury only such an amount as was sufficient to meet the
actual needs of the State, carrying into the Sinking Funds all
amounts over and above this sum.
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