REPORT OF THE COMPTROLLER OF THE TREASURY, vii

authorizing the same. At the close of the fiscal year, viz:
September 30th, 1907, there was to the credit of the State the sum
of $1,364,881.24, or a sum less by $152,000.54 than the year previous.
This balance of $1,364,881.24 appears large, indeed is, in com-
parison with the total revenue of the State, and for fear that the
figures may mislead you, I am led to submit the following statement
in order that you may be advised as to the proper and legal charges
against this Balance:

Balance In Treasury.....................................$1,364,881 24

Due Public Schools........................$471,035 24

Due Loans, Bonds sold................... 25,366 87

Due Tobacco Warehouses.................. 260,030 60

Due Oyster Fund........................ 3,544 21

——————— 768,976.92

Balance applicable for ordinary expenses............ $595,904 3.2

FREE SCHOOL FUND.

Statement "E" will exhibit in detail the receipts and disburse- .
ments on account of this Fund, while the stock or investment
account will be found in statement "F-A." The receipts for the
year, including the balance from the previous year, aggregate the
sum of 184,046.09, while there was disbursed to Baltimore City and
the several Counties the sum of $74,248.19, leaving a balance to the
credit of this fund of $9,797.90.

SINKING FUNDS.

These funds are fully exhibited in statements "E" and "F," and
to them a careful examination is- respectfully -invited. Every dollar
that came into the Treasury for their account was duly credited and
invested, so ,that no loss of interest accrued by a cash balance being
carried into the next fiscal year, while all of the investments made
were in the securities of the State. A condensed statement is here-
with submitted:

$162,300 00 Consolidated Loan of 1899, costing........... $157,569 82

248,000 00 Penitentiary Loan, redeemed.................. 248,000 00

69,000 00 Public Buildings Loan, costing................ 69,104 17

$479,300 00 Total............................ $474,673 99

You will observe in said statement that $248,000 of the Peniten-
tiary Loan was redeemed, the same having become due January 1,
1907. This represents the remainder of the $500,000 issue, $252,000