Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1889-01-11

and can probably Be maintained fer the last
pa ment
To eject this rsfanding 10 the most profit
able manner, it may be desirabls asd even
neeessary 10 leave the date at which tie new
bonds may be Issued to the Judgment Ut the
State Treasurer acting IN lsr he approval of
the Governor and Council.
The refunding act of 1857 fxes the date
for the issue Of the new bonds NJ Oct. LIST,
1889 II may happen that BY a rigid adher
ence 10 this date, negotiations for sale or eX-
change of bonds sill De seriously impaired
and the State deprived of several thousand
dollars which might otherwise be save!
No possible injury can result from leaving
the date of issuing the new bonds to be fxed
At any time prior 10 October first aai there
is a probability that il NAV prove slvAnta-
geous to the State. Some other ainer ments
If the refunciDg act of lso7 will in 4 re time
be proposed.
Cnil it i. known just how advantageously
the new loan can be placed upon the market,
and the present outstanding bonds ca c.lled.
il will be imposs Die TO state nat re,'uc ion
can safely be made in the rate of t.xs,ion
after the present year. and would, the refore,
advise that the present legislature fix the rate
If taxation for the years l-e9 and 1890 the
came as in the last two years, and the egisla-
ture of 1891 will be able to understanlingiy
make such a reduced rate upon a new State
valuation will be sufficient to cover the
expenses of the State with its decreased deb
at decreased rate of interest"
TRUsr FUSDs.-SrArE COLLEGE.
The State College ha. on deposit With the
State Treasurer, under the provisions OF
Ger ain resolves and acts of the Legislature.
The following uam-d State bonds, viz =
Registered bond due June /, 1889. 81 .0o0.-
90; Coupon hJnd due June LIST. 1883, 500 =
90; Regis cred bond due October lss, lss9.
$1,000 90: Coupon bonds due October LIST,
1883 81 $1,000. 10 addition to the above
amounts the College has on deposit in the
Treasurers office renewal under es..lve of
february 24'h, 1851 s30. 900 90 ard under
resolve of Marcn 10. 1853 81 0O0.0a, max
ing a total of Sllo.3UO 90. This whole
sum now stands in bonds which become due
IN 1883, and for the purpose of rounding
the same the Treasurer suggests that he be
suri or zed to issue registered bond for the
full amount in favor OF the Safe College of
Agricul ure and Mechanic Arts hearrn.
interest at the rate of five per cent per
annun.
TRUsr FUNDS INSANE UosPIIAL.
Thi. fund has been increased by the trustees
of the Maine insane II -Di al payiug INFO
the treasury the sum of fifty thousand dol
lars v hi, b they r. ceIred from the estate of
Hon Abner o5urn This has been accept
ed in rust Tor which the am usl interest i,
10 be paid az surho 'izei by Rs SO We of the
II gel ature of lss7 EMIT ct Resolve in
favor of the Maine II,ane Hospital" which
Gals as follows
Resolved, That the Trea.u-er of the
state he authorized a'sd DIR ct 4 % receive
rom the Maine Insane Hospit the .nm of
nifty thousand dulla-s hep est e To sad Hos
ptal b, Hon Abner Cuburn: and sail treas
urer sh. / apply the SAN Il payment of the
"bt of the SAFE of MAJ and sal J
trea urer shall issue t, saii Ilo. i'al
an VI Ii got able reg stored bon for the sum
of fifty thousand dollars, bearing interest at
the rat of four per cent per annum, payable
mi annually on tie first DAYS of January
and July in each wear at tine Treasur. r.
office: said bond shall be PAYABLE in thirty
" ars from the first day of July. in the year
pf our Lord one thousand eight hnntre aud
> ghtv-seven; shall be signed by the Treas
urer count .rsigned by the Governor, and at
tested by the Secretary of Sta'e; and the
State Treasurer ani hls succ-s .o-s in office
>hIii pay III lHt lrcds er OF saul hOHplHl inc
interest on said bond until its ma urity.'
CONCLUSION.
In concluding hi. report the State Treas
nrer says; The people are to be congratu
lated on the abundan evidences of the pros
perity and progress now manifest on all sides
Lighter taxation VIII CHI will surely follow the
refunding of our debt will still further stlm
ulate the development Of business enterprise.
throughout the State"