Evening star. [volume] (Washington, D.C.) 1854-1972, 1876-12-01
The Sinking Fund.

ANNUAL REPORT OF THE COMMISSIONERS
The annual report OF the Commissioners OF
the Sinking Fund states:
OF the 3-65 bonds issued under act of Con-
greSs, approved June 20, 1874, there were out
standing at the date of our last report, SI2-
cts 800; since which there has been issued in
exchange for certificates of the board of au-
dit. until the conversion was stopped by the
action OF Congress, Al $50 $50, making a total
issue To date. S13.743 .2j0.
OF the special assessment per cent bonds
secured by assessment on the property, there
was outstanding per last report, S1.l42 $50
There has been reduced and cancelled since
then. having been received in payment of
special assessments, SIX, $50, leaving amount
outstanding. S99s, 5O0.
No interest has been paid on these bonds
since the LIST OF July, 1874, but in receiving
Them in settlement of assessments, interest is
allowed on them TO the date of such payment
There Il in the hands of this commission, "a
security for the ultimate redemption and ex-
1inctiOn Of the above named amount of bonds
assessments amounting TO exclusive of in
ferest on them) sos ,0s7 90. To this should be
added the amount of bills recently issued and
remaining unpaid, for which certificates will
De deposited with Us, S4s1 .66972, making a
total of 81 I'D, 1870.
or the funded debt OF the District of Co
lumbia there was outstanding at the date of
our last report 8, Al 1913. This has since
been reduced by redemption of bonds as fol-
iows;-Permanent Improvement per cent.
currency bonds. - 800; county school, 50 $50;
ien-year (Bowen) per cent. - 100; funding
loan per cent. 2,30O; three-year Emery
. $40 currency bonds, $500; hve-year do,
sl2,l50. And of stocks aS follOws.-COrpOra-
ton Of Washington per c mt. registered
stock, Si.ss; do per cent SJI1.22: do.
Georgetown per cent II 5i3- Total,
$500 Having outstanding al this time,
The bonds referred to above. as well as
coupons paid 10 date, have been sent to the
Secretary of the Treasury 10 be DESTROYED by
burning, a. required by law. The Interest OF
The various obligations OF the District as
above stated has been promptly met from
board
The early attention OF Congress should be
called To the necessity OF appropriate. legiSla-
ton To carry out the pledge upon the part of
Inc united States in section seven of an act
OF Congress approved June -. 1874. entitled
:. An act for the government of the District of
columbia. and for other purposes" and TO
prevent default or delay in the payment of
The interest on the bonds authorized bV said
act, which interest is by an act approved Feb
Inary %. 1875. tamending said act OF June %.
lst4.) made payable at the Treasury of The
,hlted states Permanent provision should
Dc made Tor the payment by the Secretary of
ue treasury of the interest on these bonds
lknown as the 3-65 per centum bonds of the
District OF COlumbia) as the same Inafnrs
The recommendation formerly made is re-
newed, that the functions of this Commission
De transferred by legislation TO the Treasury
Of the United States where the funds OF The
District are now kept. its securities finally
destroyed, and where the transfer OF the 3.6J
bonds l. now made.
The operations of the Office OF the sinking
1und commission for the past year show n
satisfactory SteadineSs in the financial az
1airs OF the District, economy in the manage
ment OF Its affairs, and a gradual apprOxi-
nation To that simplicity OF financial method
which should charasterize the Transactions
Of this District The estimate OF the amount
required 10 pay the interest OF the funded
oebt Tor the next fiscal year shows the
amount required to be SSH. s95-51 or 81 as 81
iess man last year Of which amount s3ls COO
- eofI, Sles So5s currency. The interest ON
Ine S-t5 bonds being maid directly from, rho
iIeAShry Oh the United States. as ordered by
congress no statement is submitted The
tunded Indebtedness OF the District of Column
pa and OF the late corporations of Washina-
1on and Georgetown. exclusive of the S-sss
bWhS, december 1, 1874. was $40 or $40 "a
anu on December !, ls56. il was IS AK I'd n
kboWlng me amount retired between fha
oates haiied 20 nave been 81 SD O642a
SUPERIOR CLASS or GOoDs AT AUcrrox
The public would study their Interest nv a.,
tending the sale Of Meriden sifver-ni,ts-t
ware row In progress at the auction rooms ~
Thomas bowling The sale will BE- Continued
longer MI cir af n