Wilmington daily commercial., 1873-01-09
STATE AFFAIRS.
STATE TREAsURER's REPORT.
OpFIoE OF STATE TREAsURER,
-. n--..E.- FEAt. 1OrJA

OtFIOE OF STATE TREASURER, |
DovEH, delaware, December 18th, 1874. I
| To His EsCsiLency James Ponder .....
GooerHor Of DeLdtodTe:f7
| SIN: have the honor to submit TO your ex-
/ celency the following report Of the transactions
| Of this department Of the State government, be-
/ ing q statement Of the liabilities and also Of the
/ assets of State, together with synopsis of re-
Il ceipts and expenditures since my settlement with
/ the Legislative Committee in January last; Il
| At the beginning OF the present Administration
/ Of this department, the State debt amounted to
i the sum Of one million four hundred and sixty
two thousand dollars (s1, 1852, ,00O) consisting as
Bonds issued to pay bounties to vol
unteers and for substitutes, b.. 81, 10000
/ Bonds loaned to the Junction and fss
Il Breakwater Railroad Company, and
| for which the State Is secured by
d, equipmenfs s...............,,..,... Is51, 900
Total indebtedness as above. .,si, ,4s2 600
| The interest on this debt has been
| paid promptly, and the market value
/ Of our bonds has steadily increased, se
until now they are quoted above par s
in the stock markets of the country.
1 They are as high, If not higher, than s=
those of any other State, drawing
six per cent. intetest in currency,
and being 80 highly appreciated that
ii ID with the greatest difficulty
have been able to purchase them
Tor redemption. i nave, however,
succeeded in procuring them 10 the
amount Of. ....................... 1s7, 900
Which, deducted from the bonded
debt, leaves net indebtedness Of. 81 $4,000
AS an offset against this debt the State has
semi-annual interestpaying investments, as fol-
lows, viz: u.
water ri Railroad for. ,....:.......... 100000
Observation-Disclosures. $50. 62,5OO
at $i65. Observation-Disclosures. " 9,8OO
The State has also invested for the .si
benefit Of free schools, as follows, rTl 1
viz
5000 shares Farmers Bank stock, at
....................9.. 10000
Loan to the Philadelphia, Wilmington
and Baltimore Railroad Company. -, n, $1,000
Loan to Sussex county. ........... 5000
2439 shares Farmers' Bank stock ate5O 121 $50
at sl65. ........... -. = 17.sO5
ia shares Smyrna Bank stock, at $50 9,12O
254 shares Union National Bank stock ~
at p60- ............. - .s....s.. -. Ih Sl44
Invested in the New Castle and Will if
mington Railroad, for which seven "a
per cent interest is paid sh. 25,0OO
Total assets ets..................... 1924, ,2l9
Yielding semi-annnal interest of about 827 ,OO0
II the total assets were deducted from the to-
tai debt it would leave a net indebtedness Of
$400, ,781, with cash credit In the Farmers
Bank at Dover Of $5S, ,046 80.
There will be due, in January next, v u
from the several counties, under the yaiQ
act Of March 3Oth, 1871, subject to "a
errors and delinquents. .........,. s61, ,615.75
Under the act known as the Oyster Il
law during the two years it has been, ., w.,
in operation, after deduoting all ex-i!l il
amount Of. = "a, ,s0O,55
Under the act of Congress, donating
public lands to the several States
for the purpose of establishing Ag
ricutursl and Mechanical Colleges.
l have the honor to report that all T..
of the 10000 acres apportioned to
this State has been sold for the sum I. I
of $50, 900, which has been received
and invested in Delaware State
Bonds to the amount Of ...... -. .$83, 90
The interest on the same being paid semi-annu-
ally to the Treasurer of the Board of Trustees
of Delaware College.
There has been received to August
last from sources the income from
which ID appropriated to the sup
port of free schools, the sum of $96 .65
And the same distributed among the school dis
tricts entitled to receive it.
There is In the hands Of State Collec-
tors a balance on their Duplicates
subject to errors aud commissions,
under the Revenue act of April Sth,
1869, creating State Assessors and
Collectors, which has since been re-
pealed, except as to duplicates in
the hands of collectors, amounting
to............ ..........,............ S93l0.N
The same would have been collected and the
collectors discharged but for injunctons sued
out of the Court OF Ohancery upon myself and
collectors, and until a decree Is rendered by the
Chancellor all operations under that act cease.
am happy to inform your excellency that all
the railroad companies in the State are now
prompt in the payment Of the taxes due from
them, except the Junction and Breakwater, Kent
and Queen Anne. Wilmington and Reading, and
Wilmington and Western. The latter, however,
has been in operation but few months. AS the
delinquent railroads have made no return of
shares Of stock, OF net earnings, and Of passen-
gers transported, am unable to ascertain the
amount of their indebtedness.
OF the outstanding bonds Of the State, S169,
600 will mature January 1st, 1875, and for their
redemption at maturity provision should be
made. The balance of the outstanding bonds
will not be due until January, 1885, except 1852
900 loaned to the Junction and Breakwater Rail-
road Company, which will be due January, 1890.
There has been received since January 18th
1871 the date of my settlement, under the vari,
GUS acts to raise revenue and from other sources
belonging 70 the general fund, as follows, viz:
From Vacant Land. d..............,.," $I12 OF
Interest on Investment ........ 26,272 so
" Clerk Of the Peace, for Licenses. ,5s7 70
" Fines and Forfeitures. ........ AL 50
i" Railroads.. ....................... 1855 81
/" Iaxon Bank shares. s........... 5,6S5 a6
" County Treasurers. ........... 63. .762 81
" County officers, (Clerks of Courts,) 4,44s 50
" Tax on Insurance Companies =. 1850 90
Belong Belonging % to the school Fund. 3 'iSS Fl Il
49,. Total. al..............,...:.$2 .$204, ,70S II
Disbursed from the general fund since lJanu-
ary 18th to buy bonds, to pay interest on the
State debt, to pay salaries order of the Legisla
tive Committee, and incidental expenses of the
State government, $1SG, ,311.61, as follows. viz
Railroad nstallment. 81, 000
Attorney General. 1,125.00
Coupons and Bonds. ds............... 1875, ,871 60
Judiciary. ....................., 795000
Executive and Secretary Of State.... 2,8O00O
Publishing Laws and Printing, ,..... 602 80
lnDfhrldn :. ....s.ss..sssssssss..s 70 10UuO
Legislative Committee. ............... 1,00029
Resolutions of General Assembly. 46 90
For Second Volume Houstop's Report. 1000 90
Incidental Expenses. ................. 16 ~
Total disbursements, as above. 1886, ,311 81
Disbursed from the Public School
Fund since the distribution in Au-
gust last, to Pennsylvania Itstitu-
tons for the tuition and support OF
INDECENT pupils from this State.... 12275 50
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