Evening star. [volume] (Washington, D.C.) 1854-1972, 1882-01-19

DISTRICT SINKING FUND REPORT
FIVE PEOPLE BURNED TO DEATH
THE CASE OF SERGEANT MASON.
The District Sinking Fund.

ANNUAL REPORT or COMMISSIONER GrLFILLAN
treasurer Gilfllan, as commissioner OF the DIS
trict sinking fund, has submitted his annual re-
port 10 the Secretary OF the Treasury. The appro-
prlat'on for the interest and sinkingu upon THE
District debt for the fiscal year 1882 was 81. gs
After ueductlng the amount required for the pay
ment OF the annual interest upon the Outstanding
deDt. there remained 10 be expended for the sink
ng-ihnas Tor the taree-sixtyfive loan and FOR old
funded debt. S2i2 % This amount was invested
as early In the fiscal year as practicable resulting
IN The reduction OF the principal or the bonded
aeot ssl5, 400 and the annual interest Sill .Si4s5
Actihg under the authority granted by Congress
none OF the snking-fund for the three-Sixty -fiye
loan was expended In purchase In the ma rNet OF
the ponds OF that loan, but was Invested in those
ponas OF the District which could be obtained at
more advantageous rates.
. by the redemption OF the eight per cent loan OF
the late corporation OF Georgetown. which matured
July l, 1851 the last the funded debt OF that cor
porauoh has been cancelled
THE ESTIMATE
1or the service OF the fiscal year ending June 60
1883 Is the same that for the current fiscal year.
si3,siT.91. This amount is sufficient TO pay the
interest on the OH funded debt nd on thraa-SNty-
nye bonds, as provided for In the act OF June L.
$780, and leaves an amount which, IL invested 50 as
Slehi 10 per cent per annum, Will be sufficient ID
retire the entire bonded debt OF the District Co
iuinba at the time OF the maturity OF the three
Sxty-ive bonds, August 1, 1924.
THE WATER FUND.
The 1920. being two years interest upon the
water-stock bonds advanced from the appropria-
tons for the interest and sinking fund upon the
District debt, was reimbursed out or the water
lund In April and May, $780, Since then the amount
required to pay interest has been furnished AS il
became due. The law now requires that the ex-
penSe or the water fund be estimated and appro-
priated for as other expenditures OF the District
and the amount for interest and sinking fund on
water stock bonds, included ia the book OF es,i-
$A,6l0.
CERTIFICATES OF THE LATE BOARD OF AUDIT.
The work OF converting the certificates OF the
late board of audit OF the District OF Columbia
into three-sixty-ive bonds, required by section
or the act OF Congress approved June l6 1880
has neariI been completed. The amount OF these
certlficateS to be provided for at the passage OF
that act was S'1a 1913 2i; and the amount redeemed
up I'd January 1881, was S656.tC0 Since that date
there nave been presented and redeemed Se2, 100;
making total amount redeemed OF S6sS.7O0, and
leaving $34, 293.2i to be provided for.
JUDGMENTS OF THE COURT OF CLAIMS
OF the issue OF 3.65 bonds for judgments O. the
Court OF Claims against the District, Treasurer
Gihllan says: "The total amount payable during
the last fiscal yearwas 81 nd thus far during
the current fiscal year. 3i2l5.32. The judgments
the District due and payable IN 1874. and. conse-
quehtiy, required the payment OF interest at 5. %
per ceLt from that year: To accomplish this,
bonds ef the 365 loan are issued with coupons at
tlched, covering interest from the proper date I'm
less than So"
OF SPECIAL ASSESSMENTS
ana per cent certificates he says: ''The assess
ment certificates now on deposit I'm this Office
after deducting 30 per cent-the estimated reduc-
ton of those subject to reysion-and the amounts
reported paid 10 December 1, 1881 win amount TO
about s6i0O00 As the interest ACCOMMODATIONS on
that amount OF these certificates outstanding viii
exceed the amount o. interest accrued on sass 200
OF per cent certificates OF Indebtedness outStand-
ing. there would seem to be ample security for the
payment or the liSt-named certificates and TO pro-
vide Tor the balance OF the drawback cert ifiCateS
stu outstanding, which is understood TO he about
$500 provided the laws in relation To the collec-
ton OF special assessments are enforced"
RECOMMENDATIONS.
The commissioner makes the following recon-
mendatons: 81. That If the bonded debt has
reached its maximum under existing laws, and no
further Increase thereof be contemplated, per-
maDent annual appropriation OF 81 Pa, 9i7. 81
should be made for its eXtinguishment, 2. That
Si46lO be made permanent annual appropriation
Tor the interest and sinking fund OF The water
bonds.