New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-01-08
--aNsHuh'1
Receipu dur
Ing the rear.
Including bal PAYMENTS Balance
C.pit.l Sent snoe. Oct l. dunns the sept 20.
&c. 1873 is'H '' 80
Ies.5se 81 1880 10 10000 90 $3.50 io

&c
yimirs F.m.. 'N''''' -
aSn %IN Fund w. 10000 90 100000 $500 90
Co Sinking ,..,., ee-o scuoa-G7l
Trust Fund 10. '''''' " -
bounhes.. 90 $50 90 ..... ."...
There was an actual the capital Of the School
by the OF $4,000 received from the income OF
the United States Deposit Fund provided in article
section Of the on Thers S,smSer Is
of 55s 49, owing to the fact that the divide M OF com
mon school 9 money to the County OF nsd oSerwse de-
fciency OF $5,6 % would have appeared .
The capital Of the Literature fnd mas Deen ef
scrip dividend on the stock OF the Albany Insuraneo
Company held by the CONTROLLER or the money 10 tine Inc
fund, amounting to s02307 81 the sum or *lWvoO mas
been invested in the Canal deficiency Loan OF ~ -
six per cent stock prncipa aaG htereS' PSbs the
amount aud condition OF this fund in detail.
UNITED STATES DEPOSIT FUND.
The sum OF So OF the capital OF this undihas been
invested In the Canal Deficiency Loan 6s, July !, lS9
since the close OF the fiscal year.
The amount Of this fund received from the Treasury
OF the United States is t0li52o II. 1t was received
nomnay as loan on deposit and the faith OF the state
is pledged for its safe keeping anu Repayment 70 sno
United States, when called for BY the secretary Oh tue
IRE un line o1p ms a 81 and losses must be
made good from the revenues OF the und anu the ts
raj Fund. The Constitution requires
annually set apart from the revenues OF TINS f9na anu
added to the capital of tine Common school f9hu to
s@n ., but cam be nsed only for educational pr
ON the eve Of e
excess appropriations OF N3o5 r. That dehciency
has been made good by transfer Of that amount aro
the General Fund. and at the end OF the iss' nsen
The capital of this fund. well known, was, on its
reception from the United States, distributed among
the several counties Of this State according 70 4er
and on bono srS for
From information in the possession on tne DepaIt
men it appears that the only security hea dOr ne ans
mortgages real estate that IN large NUMBER OF n
stances these mortgages are lnsdeqnate thai
the ultimate from this Will be large unless
the loans are early called in In some the mort
are prevent the foreclosure OF the
mortgages and the collection OF the money ioaocu On
plea Of usury alleging that the COMMISSIONERS nave
compelled them, in consideration OF the loan. W pay
premium over aud above the lawful interest
In consideration Of the facts above stated the SOn
troler recommendations 40 often made from
this Department that the Investment OF TINS I9nd We
changed that the amount loaned IN the several coun
mortgages be called In az IL becomes que or oy
instaments AZ the legislature may dreei, ana invest
on g eg Sas viii s from loss and il can
easily demonstrated that the income ana revenues vi
II the Legislature should not concur IN this recon-
incubation. then 1t Is suggested that law ne passoa
charging all losses OF principal ana interest OF te 'uu
upon the county whore the money Is ioaneu anu pro
vding that the boards OF supervisors OF the counties
respectively be authorized to appoint tne anno sn
pointed by the Governor as now provided by law the
te payers OF the counties will then De directly inter
ested in tho proper administration OF the fund.- and IN
preventing by improvdent loans. as well ar IN
seeing TO that the Loan Commissioners are men of H.
tegrity and business capacity. - o,,
The following tables show the condition OF the College
Land Scrip Fund and Cornell Endowment Fund sept.
20, 1878
The e,pisl Of this fund the 3Oh September 1878 o ,-
e e%Sp DETAILS soc Schedule VIII
From the OF the fund there has been PAID TO
the Cornell University. during the year. $4,000
ENDOWMENT
Tn. capital this fund the 30th September, 1873 -
amounted vi
(Ror particulars. see Schedule VIII
From the OF the fund there has been paid "
the Cornell University during the year, $4,000.
RECEIPTS AND EXPENDITURES
The receipts INTO and payments from the treasury on
account Of all tho funds, except the Canal and Free
School Funds. for the fiscal year ending Sept 80 lS73
were al follows:
Paymens lfo'It''f u
Balance In the treasury Sept 80 1873 $245li50 81