Evening star. [volume] (Washington, D.C.) 1854-1972, 1884-12-12
THE DISTRICT DEBT,


THE REDUCTION OF THE FUNDED DEBT OF TIE DIS
TRIcT-THE WATER FUND-JUDGAENTS OF The
COURT OF CLAIMS. ETC.
Hon. A. q. Wyman, Treasurer of the United
States, has submitted to the Secretary of the
Treasury the seventh annual report OF the Treas
urer on the sinking-fund and funded debt OF the
District OF Columbia. The report says there was
available from the appropriation Of 2l3 81 for
interest and sinking fund for the fiscal year ending
June 3d. 1884 S272 36 to be expended in the pur
chase or bonds for the Sink1ngf funds for the 3-65
per cent loan and for the Old funded debt AS
stated in the last annual report S1485o0 OF bonds
were purchased Tor the snkng-fund for the 3-65
per cent loan. On account OF the sinking fund for
the Old fund debt $50 Of bonds were purchased
at cost OF 500, ,9339l These included permanent
Improvement bonds. market stock bonds and
twenty and thirty year funding bonds. The sum
OF SIT 800 03 has been expended out OF the appro
pration for interest and sinkingund for the fiscal
year ending June 80 1885. In the purchase OF bonds
for the sinking fund for the 365 per cent loan for
the amount of $159,l50.
REDUCTION OF THE DEBT IN SIX YEARS.
The funded debt OF the District OF Columbia and
late corporations OF Washington and Georgetown,
on the 1st of july 1885, when the duties OF the sink
Ing fund commissioners OF the District were trans
ferred to the treasurer OF the United states, was
s2 1880 Debt on November 80, 1884. S2l 79 100;
decrease by retirement OF bonds, Gal OO increase
debt. 1850; interest charge July 1, 1873 81 0f5,
1919 interest charge November 80, 1884, S949 65
dsessase as Re-, by retirement Ire and funding Of bonds $685.
reduction Of annual interest charge, f66,643.47.
The District debt reached its highest point Janu-
ary lst, 1881. when it aggregated IA 500 Since
being larger amount OF bonds annually retired by
the Sink1ng-funGS than are issued in payment OF
board OF audit certificates and judgments OF the
Court Of Claims.
THE WATER ErNn
From the appropriation for interest and sinking
fund for the water bonds for the fiscal year ending
June 30th 1885, there was available for the sinking
fund $1S.36O, which amount was deposited by the
District Commissioners to the credit OF the appro-
priatiOn for interest and Slnkinr-fund for the
funded Indebtedness OF the District OF Columbia for
said year. The amount available for the purchase
OF bonds for the sinking for the water bonds
for the fiscal year S2091250 The total cost OF
the bonds purchased Was 500 SCI. so. for which sum
requisition was made on the Secretary Of the Treas
ury, leaving balance OF $509S, which could not be
invested The estimates submitted by the Treas
urer for interest and Sinking!und and for the cur
rent expenses of the slnking-iund Office for the
fiscal year ending June 30th 1856, are the same as
the amounts appropriated for those purposes for
the current fiscal year.
Under the authority contained in section of the
act OF June is, 1880, authorizing the issue of 365
bonds OF the District OF Columbia in exchange for
certificates OF the board OF audit there has been
deemed since the date or the last report. December
l. 1888, $3.50 OF these certificates making the total
amount OF certificates redeemed to date s6S3 900,
and leaving s29 "a yet to be provided for.
JUDGMENTS OF THE COURT OF CLAIMS.
The amount OF judgments OF the Court Of Claims
against the District Of Columbia paid by the issue
OF 365 per cent bonds to date is s134.1l043, on
which interest to the amount Of s37 27 46 has been
paid, making a total Of Sl72.o37.s9. Judgments
rendered at the December. 1888, term OF the court
ing interest Of the $4,000 in 65 per cent bonds
issued in satisfaction thereof SlS600 sold In
the market at from 1O7 4s to il3 ss and interest.
q SINKING nd or v,,r
and interest There was obtained from the bonds
disposed Of including accrued interest, s59,O1135
Special taxes to the amount OF $75.510OS have
been paid from December !, 1888, to November 30
last, OF which amount ss,l7s.64 was paid in cash,
s12. 2SS In greenbacks and the remainder In per
cent certificates OF Indebtedness and COUPONS The
amount OF per cent certificates outstanding No
veinber 30 was 1892 400 The drawback certificates,
amounting to about 100000 on which interest was
allowed by act OF Congress of July g. 1884, are, in
consequence OF such allowance OF interest, now
being accepted by the holders OF lien certificates,
for the time retarding the retirement OF the 8 per
cent certificates OF Indebtedness.
THE CONTRACTORS "RETA1N FUND"
The total OF the amounts retained under the
authority by which the treasurer was made custo-
dian OF the fveyear 10 per cent "retain fund" from
payments on contracts which have terminated
was S32 92904. The net proceeds OF the securities
into which these retained amounts were invested.
including the uninvesred cash balances, amount to
$43, 3A 10, showing surplus of $l0.425.15. This
fund was by direction OF the Secretary Of the
Treasury deposited to the credit of miscellaneous
receipts
THE G. AND Q. CANAL BONDS.
The treasurer still has In his possession of
the bonds OF the Chesapeake and Ohio Canal COM
pany, which were received from the late commits
sionerS OF the sinking fund. In January last
$3 500 OF these bonds, then overdue, present.
ed TO the company for payment, but the company
was unable to meet the demand upon 1t. The
whole OF the remaining $50 500 of these bonds now
held by the treasurer will be due not later than the
1St OF next January, when presentation for pay
ment will be made.
A detailed statement is given OF per cent GER
tifcates and coupons destroyed under the pro
visions of law.
District Government Affairs.
SPECIAL POLICEMEN FOR THE INAUGURATION.
The Commissioners viii ask Congress for an ap-
preparation to pay for three hundred additional