STATEMENT J.
Showing the Funded Debt of the State, as of the 30th Day of September, 1904.

CHARACTER OF LOANS.	Amount of Loans.	Maturity of Loans.	For What Account.
3.50 per cent. Penitentiary Loan, per Chapter 166 of 1896. . .	$500,000 00	1911	Extension of the Md. Peniten-
			tiary.
3.50 per cent. Insane Asylum Loan, Chapter 164 of 1896 ....	100,000 00	1911	Second Hospital for the Insane.
3 per cent. Consolidated Loan of 1899, per Ch. 219 of 1898.	5,401,926 13	1914	Exchange of State Debt and for
3 per cent. State Building and Improvement Loan, per			New Public Buildings.
Chapter 607 of 1900......................	500,000 00	1915	Public Buildings.
3 per cent. State Loan of 1902, Chapter 200 of 1902. .....	600,000 00	1917	Public Buildings.
3.50 per cent. Public Buildings Loan, Chapter 228 of 1904. .	825,000 00	1919	Public Buildings.
Making an aggregate of ..................................	$7,926,926 13
As an offset to this debt, the State holds the following Bonds
and Stocks on which interest or dividends have been
promptly paid, to wit:
Stock of the Annapolis Water Company.......$ 30,000 00
Stock Farmers' National Bank of Annapolis. . . 46,470 00
Stock in Balto. & Fredericktown Turnpike Co . . 11,000 00
*Stock of the Washington Branch of the Balti-
more & Ohio Railroad Company ............. 550,000 00
Bonds of the Northern Central Railway — Mort-
gage....................................... 1,500,000 00
Stocks, Bonds and Cash to credit of the Sinking
Funds..................................... 2,646,587 00
	4,784,057 00
Net Debt after productive stocks held by
State and the Sinking Funds are deducted.................	$3,142,869 13