New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-01-10

ntere,, on state stock in Comproers bonds $500 ~
Interest On money In the treasury 20
Dividends on bank STOCK t' w
ro,o,........................s lsi,85o 90
Authorization rom the income Of the L. s Dept 49, ~.
Fund. looVVV W
Estimated payment for the same pc
riod, viz; -. ooo %
Common school dividends s%5oGOV w
The capital OF the Common School Fund mas
advanced from 81, 243,563 &c. on the 3Oth CT sep
TENDER, ls49, to S2,29O,673 %, on the 3Oth sep
TENDER, 1850, being an increase of si7lOy 81
during the last fiscal year (See statement + J
The revenue of the fund, during the same period,
Including the annual contribution OF Slo9,OOO
from the Deposit FUND.- was s3O0792 10, being
an increase OF revenue, as compared wltn TUG
preceding year, of sl5,sss "a. After paying all
charges on the revenue, balance remained IN
the treasury on the 3Oth of September last, OF
Sl62762 %. Ii is estimated that the revenues OF
the present fiscal year will be S296,35O.
The Comptroller deems it safe to recommend
that the annual dividend from the revenues OF TINS
fund for the support OF Common Schools, be In
creased from s2a5,OOO to 100000. After making
ampla allowance for contingencies. it is believed
the pres ent condition of the fund will Justify the
proposed increase; and the yearly addition OF
$4,000 to the capital, from the income OF the De-
post Fund, will gradually produce the means Tor
enarging still further the amount Of the annual
LOANS OF 1872 AND 1898.
The Loan Commissioners have proceeded, with
commendable diligence and hdelity In executing
the act passed April TO- 1885, requiring these loans
to be closed by transferring the mortgages, under
certain conditions, to the Commissioners OF the
United States Deposit Fund. On the 30th of
September there was still outstanding, on the
loan of 1892, Sl7,9s2 SC, and on the loan OF 1905
$2l,757 81. These amounts have been consider
ably reduced since that day. But it is ascertain
Al, h.,e fran fail
ures of title, insufhciency of security, and deln
quencies of Commissioners in former years
Every effort has been made to secure the
amounts thus placed in jeopardy. For portion
Of the deficiency, the counties are liable to the
State, under the original acts and the subsequent
provisions embodied in the Revised Statutes.
1t is for the Legislature to determine to what
extent this liability shall be carried The loss to
the capital of the Common School Fund. when
definitely ascertained, should be restored from the
accumu alton Of revenue now in the Treasury
Alter the passage OF the act OF April 10, 1850, In
structions were issued to the Loan Commission
ers from this office, of which a copy is hereto an
nexed, marked g.
UNITED STATES DEPOSIT FUND
The capital of this fund is believed 70 be in
sound and healthful condition. The original invest
ment OF principal being S40l4,520 II, has been
preserved entire, all losses having been restored
TO the capital by the transfer of an equal amount
from the current revenue.
IL was shown in the last annual report from this
Office, that the appropriations made by the Legis-
ature including special grants to literary institu
tions, exceeded the revenue by S23,6e3 So. This
deficiency has been reduced to s. 9l3 "a at the
close OF the last fiscal year. IL is estimated that
the revenues Of the present fiscal year. after pay
ing all existing appropriations including the ordi-
nary distribution to common schools and acade.
mes-SlO,o00 for the Normal school, and 81, 900
to academies for instruction of common school
teachers will leave a surplus of 81, 446 30 at the
disposal of the Legislature.
1t is hoped that the income OF the fund for the
current year may be increased beyond the esti-
mates, by the efforts of the commissioners TO dis.
pose OF the remaining lands bought in for the State
on foreclosure OF mortgages. A circular was is.
sued from this Office in Marchllas (of which O
copy Ia hereto annexed, marked H. urging the
commissioners to effect sales of these lands as
speedily as practicable and to take proper stems
for the recovery OF the deficiencies due the State
on account Of this fund. Express authority should
be given 20 the Comptroller to compromise and
settle with insovent or embarrassed debtors for
balances remaining due 10 the Deposit Fund after
sale Of the mortgaged property
UNITED STATES DEPOSIT FUND-CAPITAL.
(See Statement l.
This fund consists of the following items. viz.
Loans on mortgages IN the counties 49o337 %
State stock, redeemable let January, 1855, per
STATE stock redeemsbe Is: july 1850 i'1S 90
Compnollers bonds, payable on demand, ats
M Sss Si IN ii: 4r.s.a;:. 's;s sss &
Total. .s4Ol459O II
Balance ed. due he Treasury on the 'oth septem:
Amount Of payments from the treasu.
ry during the year ending 30th Sept.
1850 (fee Statement B.)............ 255l50 %
Amount transferred 70 the capital Of
the fund for ciminuion In the loans
under foreclosure Of mortgages and
tailure OF ACKNOWLEDGEMENTS. 1852 70
Amount received into the treasury du- "
ring the year ending 30th Sept. ESQ,
Amount transferred from the general
fund revenue for interest on ueasu-
Amount transferred nom he capital
prepayment into the treasury, erro.
neously applied as prtncipal....... 1885
Deficiency in the revenue on Goth Sept 1880 SssIS q
Appropriations from the income Of this fund for
1850, which remained unpaid on the 3Oth Septem-
Der, 1885, viz:
Geneva College. 1850 90
nlanson University. $500 90
nsihhon $500 90
Total 500 90
Which shows an excess of appropriations by the
legislature, from the income of the United States
und for the last fiscal year, Of Sl64l3 81
The revenue Of this fund is estimated for tha
current year, as follows:
Interest on the amount loaned on mortgage In
s2l8 900 90
n.eIret On Stae slock ......."s...... 1871 90
interest on COmptrollers bonds. 2DOg4 90
interest," on money In the Treasury TO beinvested 585 90
'a4es Vi 10000 90
Total .s2568S0 90
Estimated payments during the same period,
Amount Of balance due the Treasury ..... sssIs Ga
AMOUNT Of appropriations for 1880 which re-
NAMED unpaid on she SOth September last -. 1900 90
common schools 10000 90
FUND ........................ 5000 90
Aeademes $1,000 90
Normal 10000 %