The Republican journal., 1888-01-26
Maine Matters.
NEWS AND GOSSIP FROM ALL OVER THE STATE
ANNUAL. REPORT OF STATE TREASURER BUR
LEIGH.


LEIGH.
The annual report of the State Treasurer, of
which an abstract has been published, contains
complete record of the receipts and eNpendi-
lures of all public funds during the year 1887,
an exhibit OF tie condition of the sinking fund
at the close of the year 1897, together with
statement of the estimated receipts and eX-
penditureS for 1883.
RECEIPTS.
Cash in Treasury, Jan. LIST, l>s1.... S3ls,sjI.45
Iot;ii receipts for lss1....-.. 6 IS
sl4so,s,e 50
EXPENDITJ RES.
Total expenditures for lss7.........$ 81 los, "a 80
Cash in treasury Dcc.3l, >S7........ 81, Is. O3
81 So,s32 80
The report then shows where some of the
money comes from. and the large expenditures.
\ statement CT the liabilities Jan. I, 1sSS,
shows total of S5.331,01..S4, with sinking
fund of the present market value of S2,1o0.-
l403l. Treasurer Burleigh SAYS in relation to
the reduction of The sinking fund: Dee 81.
1856. amount of securities and cash was S.
llo.390.a1. On December 81, 1887. it was S949.-
GGo64. In explanation lie says the law of 1887
required the State Treasurer to cancel all state
OF Name bonds NOW in the sinking fund. or
such as may hereafter be purchased" He ae-
cordingly cancelled S1.lG2 ,000.00 leaving in
tins fund only the securities outside the State
of Maine; S:iS.4.993 of the interest from these
securities Was used in the purchase of S56.000.-
90 State of Maine bonds which We're cancelled
and deducted from bonded debt. While the
amount with which to pay the bonded debt has
decreased SLIGO 993. the bonded debt has
diminished Sl,19S 10000. showing net reduc-
ton during the year of S3..2i00l. He says
this amount may seem small in comparison
with the reduction OF lSS6 which was 209. f12.-
10. hut the larger part of that reduction was
made by paving from the treasury for bonds
allng due in lSS5 and 1856. So 90; appro-
prlaIcd by the Legislature of lSS3. SS0.4.9.
81: interest on Maine bonds in sinking fund
s666e000. By change in the law the decrease
in the bonded debt during the year shows a
falling of of Sl1l S4209. compared with lS>6
hut the change in the law also allowed a reduc-
ton of one mill on the dollar in rate Of taxa
ton. making 4 reduction Of s23G 02.01 in the
amount assessed the tax payers OF the State i'll
1SNI compared with the previous year.
The Treasurer says. relative to payment of
bonded debt becoming dne in 1889, and to re-
iieve the tax payers from paying interest on
state of Maine bonds owned bv the State and
forming a part of The sinking fund, the LegiS-
lature passed An act to renew portion of
the public debt and to limit the operation of
the sinking fund. approved Feb. 26. 1857. Tn
der this act tie Treasurer procured the bonds
and advertised for proposals for holders of
bonds maturing June /. and October |. 1889
for an exchange for an equal amount of new
issues OF bonds authorized l., the act TO he de-
lNered at the time of the exchange. but bear
inc interest from oct. l. ie>@.
The total amount offered in exchange is 81
s000000o. rate OF interest per cent. per an
num- No prolto>al> have been received ma 10
this date.
Rate Of taxation for wear, l>>.,-t;. 3a-4 mills :;
for ISIS 5, 81 mills one mill Of which is re-
turned to towns for benefit of schools.
Notwithstanding the reduced rate of taNa-
ton. the tgrnuorary Loan authorized has NOT
been required.
Balance of report i composed of tables
showing the amount apuorfi6ucI the various
towns In tbn >tatn from TN an ,..ilrc,Is omI
DELINQUENT towns On a.ro,,nt If state tav.
Lands reserved for nii}.Ii,.u.e. Nod.w,.k, Tor
ritory school fund: school fund and mil tax
apportioned the Nayiol> towns In The STATE
The committee appCinted to eXarline the
fojio,,,;,, .a+ ,n"t i'''.M,> me
close of wear. -3l9 oSS "a or his ann S3o5 :
t3l "a was on deposit in sound reliable banks
within the state and the suffolk National Bank
Boston. and SG.S5G.G9 in the safe in the office of
the treasury The state received interest on it,
deposits in banks out OF the state. The revenue
from that source LAST wear amounted 10 $ $50 :
63. All coupons paid bv the state treasurer on
account of the public debt in the year lSS7
amounted to Si41.5l2. exclusive of sg5. $40
interest paid on registered! bends All bonds
and COUPONS converted 10 registered bonds by
state treasury during The year amounted to
Sllt.00G. together with registered bands 70
ceived by him for reissue amounting 10 SO
600. The sinking fund account as represented
on the state 1rea>urer's books Jan: |. 1857.
amounted to So.ll0, BOD. All the state Of
Maine bonds held ii. an investment bythc sink
ing fund amounted to 81. lG2 COO State Of
Naine bonds purchased during the wear 1851
amounted 10 $4,000. Securities outside the
-tate remaining in the sirkiu. fund amounted
to ;sJ49,G6o.G4. Trust funds deposited by the