year ended September 30th, 1932, we collected $7,985,192.95.
Refunds on exempted fuel for the year amounted to $408,234.51,
represented by approximately thirty-five thousand individual
claims. The total expenses of the operation of this department,
including salaries, postage, traveling expense, etc., were $11,-
488.19, representing approximately one-seventh of one percent
of the total collections. This we believe to be a very economical
administration of a fund of this size and much less than the cost
of the administration in many of our neighboring states.

Our license department consists of a chief and three inspectors,
is operating efficiently and visits all of the counties of the State
and Baltimore City in effectively supervising licenses throughout
the entire State. Of course receipts from this source have de-
clined perceptibly in the last eighteen months due to the discon-
tinuance of many mercantile businesses and the closing of many
stores.

This office is more than anxious to co-operate in every way
possible with all departments of the State which will aid them
and ourselves in the most economical and efficient administration
of the fiscal affairs.

Respectfully submitted,

WM. S. GORDY, JR.,
Comptroller.