STATEMENT J.
Showing the Funded Debt of the State, as of the 30th Day of September, 1911.

CHARACTER OF LOANS.	Amount of Loans.	Maturity of Loans.	FOR WHAT ACCOUNT.
3 per cent. Consolidated Loan of 1899, per Chapter 219
of 1898....................................	$3,253,926 13	1914	Exchange of State Debt and
			for New Public Buildings.
3 per cent. State Building and Improvement Loan, per
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 . .	1,625,000 00	1919	Public Buildings.
3.50 per cent. State Roads Loan, Chapter 141 of 1908. ; . . . .	3,500,000 00	1923-1924	State Roads.
4 per cent. The Public Highways Loan of 1910, Chapter
116 of 1910................................	250,000 ,00	1926	Public Highways.
4 per cent. State Insane Hospital Loan, Chapter 250 of
1910 ......................................	600,000 00	1926	State Hospitals.
3.50 per cent. Sanatorium Loan, Chapter 411 of 1910.......	100,000 00	1926	Tuberculosis Sanatorium.
Making an aggregate of ..................................	$10,428,926 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
Bonds of the Northern Central Railway —
Mortgage ................................. 1,500,000 00
Stocks and Bonds to Credit of the Sinking
Funds .................................... 5,117,379 72
————————	$6,693,849 72
Net Debt After Productive Stocks Held by State and the
Sinking Funds are Deducted ...........................	$3,735,076 41