National Republican. (Washington City (D.C.)) 1872-1888, 1876-12-02
SINKING FUND COMMISSIONERS.
Obligations of the District Promptly
Eaid.


The Commissioners of the Sinking Fund, in
their annual report transmitted to the District
Commissioners, state:
Ofthe 8 65 bonds issued under act Of Congress,
approved June 20, 1874, there were outstanding
at the date of last report, s12 o., 800; since
which there has been issued IN exchange for GER
tlfcates Of our Board of Audit until the CONVEX
sion was stopped by the action Of Congress- 81,
6S6.950 making a total issue to date, l3,74S $50.
Ofthe special assessment per cent. bonds, Sc
cured by assessment on the property, there was
outstanding per last report, 81, l42 $50, There
has been reduced and Cancelled since then, hav-
ments, sl48,s5o, leaving amount outstanding,
s99s.To0.
No interest has been paid on these bonds since
the LIST of July, 1874 but in receiving them in set
Element of assessments interest is allowed on
them to the date Of such payment There is in
the hands Of the commission, as security for the
ultimate redemption and extinction Of the above
named amount Of bonds, assessments amounting
to exclusive OF interest on them) sI55,OS79s To
this should be added the amount OF bills recently
issued and remaining unpaid, for which certif
Gates will be deposited with us, $751; 669 II max
ing total Of q, 235, 1910.
IlOfthe funded debt of the District Of Columbia
there was outstanding at the date of our last re-
port IS AL, 1l343 This has since been reduced by
redemption of bonds as follows: Permanent i'm
e COUNTY school, $3.50 Son. ien.year yBOWen, per-
cent, s., 800; three-year Emery $40 currency
bonds, $500; fve-year do, sl2 $50. And of stocks
as lOllOhs. SOTpOEdIlOn VI " dsulukIOu per
cent. registered stock, 1897; do. per cent,
s5lT.22; do. Georgetown per cent, 81 SIS. Total,
S35,tS7.2-leaviDg outstanding at this time,
SS.4C5, 576.N.
The bonds referred to above, as well as coupons
paid TO date, have been sent to the Secretary Of
the Treasury to be destroyed by burning, as re-
Quired by law. The interest of the various obli-
cations Of the District, above stated, has been
promptly met from funds turned over to US from
your honorable board.
They urge that the early attention Of Congress
be called to the necessity of appropriate legisa-
tien TO carry out the pledge upon the part OF the
United States in section seven Of an act of Con-
gress approved June 20, 1874, entitled IAN act
for the government Of the District Of Columbia,
and for other purposes" and to prevent default
bonds authorized by said act which interest is
by an act approved February 20, 1875, (amending
said act of June %, 1874 made payable at the
Treasury of the United States. Permanent pro-
vision should be made for the payment by the
Secretary Of the Treasury Of the interest on
these bonds (known az the S.o5 per centum bonds
of the District of Columbia) as the same mature.
The estimate Of the amount required to pay
the interest Of the funded debt for the next fiscal
year shows the amount required to be S5l6, $685.
or q, 1861 less than last year, of which amount
s34S COO is gold, sles295.57 is currency. The In
terest on the Sos bonds being paid directly from
the Treasury of the United States, as ordered by
Congress, no statement is submitted. The
funded Indebtedness of the District Of Columbia
and of the late corporations Of Washington and
Georgetown, exclusive of the IS bonds Deem
Der l, 1874, was sl0o27, 6i04S, and on December l.
1876 1t wac s, 405 57o.2l. showing the amount
tired between the dates named TO have been
q, 622, oe422