viii REPORT OF THE COMPTROLLER OF THE TREASURY.

ESTIMATES.

Statement "C" shows the probable receipts into the Treas-
ury during the fiscal year 1902 of $3, 050, 778. 30, which if added
to the balance in the Treasury proper September 30, 1901, of
$972, 412. 91, would aggregate $4, 023, 191. 21. The probable dis-
bursements during the same period aggregate, as shown by
Statement "D, " $3, 269, 479. 78, leaving an estimated balance in
the Treasury proper September 30, 1902, of $753, 711. 43.

FREE SCHOOL FUND.

The receipts and disbursements of this fund at the close of the
fiscal year are fully exhibited in statement "E. " The total re-
ceipts during the year, including the balance brought down from
the year previous, are $79, 225. 67, while the total disbursements
during the same period were $71, 561. 37, leaving a balance to the
credit of this fund of $7, 664. 30. The ordinary receipts to this
fund have been somewhat augmented by virtue of increased divi-
dends from stocks standing to the credit of the various counties,
and by the further fact, of the Common stock of the Baltimore
& Ohio Railroad Company declaring two dividends instead of one
as in the year previous. As the stocks and bonds to the credit
of this fund are held in trust by the State of Maryland for the
benefit of all the counties and Baltimore City, it is a matter of
satisfaction that the stock of the Baltimore & Ohio Railroad
Company held by this fund, as will fully appear by reference to
statement "F, " amounting to $88, 500 of the Common, and $62, -
000 of the Preferred, is now yielding a regular income.

SINKING FUNDS.

It is with pleasure that I now direct your attention to the con-
dition of these Funds, at the close of the fiscal year, the several
transactions of which will be fully shown in detail by reference
to statement "E. " The receipts during the year including the
balances brought down from the year previous, aggregate
$633, 972. 60, to-wit: