REPORT

OF THE

Comptroller of the Treasury

OF THE

STATE OF MARYLAND

TEEASURY DEPARTMENT, COMPTROLLER'S OFFICE.,

ANNAPOLIS., December 24, 1907.

To the Honorable, The General Assembly of Maryland:

I beg to respectfully submit herewith my annual report for the
fiscal year ended September 30th, 1907.

RECEIPTS.

The gross receipts of the Treasury proper during the fiscal year,
as shown in statement "A," were $3,975,231.18, which, added to the
balance on hand September 30th, 1906, of $1,529,513.08, aggregate
$5,504,744.26, as against 16,046,341.85 for the year previous, or an
apparent shrinkage of $541,597.59. Yet this is not true, since extra-
ordinary receipts are included in the revenue for 1906, as follows:

Baltimore & Ohio Railroad Co., Dividend.................$33,000 00

Public Buildings Loan................................... 141,000 00

State Tobacco Warehouses.............................. 251,055 92

Total..............................................$425,055 02

It must also be borne in mind that the State tax rate for 1906
was, 23 1/2 cents on each $100, while for the year just closed it was
but 16 cents on each $100, hence the revenue accruing from this
direct tax must necessarily be much larger for the first named year.