Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1890-02-01

IN loG1Ganeu10 q 1859 poeood he toi-
loving rssslss. which vas approved By de
Govssnes March Z, 1883:
WHxnaAs. the Staae College Of AeFi-
cuisnFe and the Mechanic ARA, has - de-
post under section 4 chapter 100 Of the
Statutes Of the United States. approved
July :. 1853. snd resolves Of the legislature
Of the Stsse Of Maine, spueoved March IS.
1858. and March -. 1884. and February
"A. 1881. snd March 10. 1883. one hundred
and eighteen thousand three hundred dol
Lars (etle. 800. in bonds Of the State. all
Of which become due in 1889.
Reseleed. That the Treasurer Of the
State be authorix I'd and directed {, issue
new registered bond in fsver Of saId
college for the sum Of one hundred aud
eighteen thousand three hundred dollars
(Ils,3 800. bearing interess II the rate of
I'VE per cent. payable semi annually. to
bear date Of June LIST. 1889. A. D., and
payable in thirty years from said date. the
.Aid one hundred and eigaseen thousand
iollars in bonds Of said State, - above Set
forth, to be cancelled when said new boad
for one hundred and eighteen thousand
three hundred dollars 10 issued, ~ herein
before ds scribed. that the treasurer Of State
10 authorized and directed, and said treas
urer shall issue to said college boud for
The came. which shall be Unacceptable, and.
~ before herein provided, said tond shall
be signed BY the treasurer and countersign-
d by the governor and attestei by the Sec
-etzfy Of State, and the treasurer and his
successors in Office shall pay to the treas
arer Of said college the interest on said
bond from time to time, in equal semi 40
rual payments from the date Of said bond
until the maturity Of the same.
Agfeeably to the above resolve, special
State Of Maine unacceptable registered bond
No. 1901 for ells 10000 With interest At
i've per cent. per snnam, was issued to
said college June /. 1889, aud the old bonds
7eld pv the college we're cancelled on the
same date.
The Maine State College of Agriculture
md the Mechanic Arts received under the
siil OF the late Hon. Abner Coburn, the
.nm Of one hundred thousand d)liArs, which
amount the said college requested the State
to take In trust and the legislature of 1887
passed the following resolve. which vas ap
proved by the Governor March l6. 1887.
Resolved. That the Treasurer Of State be
authorized and directed to receive from the
Maine State College of Agriculture and the
Mechanic Arts, situated in Orono, in the
county Of Penobscot, in trust, the sum of
one hundred thousand dollars, bequeathed
to said college by Honorable Abner
Coburn; and said Treasurer shall apply the
zane in payment Of the debt of the State
Of Maine, and shall issue to said college an
annegotiaole registered bond for the sum
of one hundred thousand thousand dollars,
bearing interest at the rate Of four per cent
DER annum, payable semi-snnually on the
drst days Of January and July in each
year, at the Treasurer's office. Said bond
shall be payable in thirty years from the
frst day of July. in the year Of our Lord
one thousand eight hundred and eighty
seven, and shall be signed by the Treasurer,
countersgned BY the Governor aid attested
by the Secretary Of State; and the State
Treasurer and his successors in Office, shall
pay to the Treasurer OF said college the
interest on said bond from the time he re-
ceives said sum until the maturity of the
bond.
Under this resolve, l issued to the college
a special State of Maine unacceptable
registered bond No. 1000. for 800. 900,
with interest at four per cent per snnum,
and deposited the money received for same.
in the Suffolk National Bank, Boston, to
he used in payment of Al equal amount Of
the old bonhs when they became due.
The Maine Insane Hospital also received
under the will of the late Hon. Abner Co.
burn. q bequest of $50 900, which sum
was instructed to receive 10 trust for said
Hospital by resolve approved by the Gov
arnor, March 10. 1887, which reads Is
follows:
Resolved. That the Treasurer of State be
authorized and directed to receive from the
Maine Insane Hospital the sum Of dfty
thousand dollars beQueathed to said Hos
pita by Hon. Abner Coburn: and said
Treasurer, shall apply the same in pay
meni Of the debt Of the State Of Maine,
and said Treasurer shall issue to said Hos
pital an Unacceptable registered bond for
the sum of fifty thousand dollars. bearing
interest at the rate of four per cent. per
annum, payable semi-annuslly on the first
days of January and July in each Vt ar, at
the Treasures office; said bond shall be
payable in thirty years from the first day of
July, in the year of our Lord one thousand
eight hundred and eighty-seven; shall be
signed by the Treasurer, countersigned by
the Governor, and attested by the Secretary
Of State; and the Treasurer and his suc-
oesss-s in office shall pay to the Treasurer
Of sail Hospital the interest on said bond
until lis maturity.
In accordance with above resolve, special
State Of Maine Unacceptable registered
bond for $50, 900, bearing interest at the
rate Of four per cent. per annum, WAS is
sued to said Hospital and the pre- ceeds de-
posted in Suffolk National Bank, Boston,
TO meet an equal amount of State Of Maine
bonds falling due October l, 1889
The old bonded debt, as shown on
page ~, amounted to 1896 700 o.
From this amou should first be de.
duet. d the bonds formerly held by
the Maine State College of AEricul.
ture, which were surrendered for
new special bond lis, 100 90
es.s4s 600 90
Other funds received, as pre- viously
shown, to be applied In pay ment of
his deb. ae as follows
From Maine State College otAgrlcul
From Maine Insane Hos.
pital. 100000
From sinking Fund las
shown In recapitulation
on page 2p,) l.235, ga o. i,3s5, 674 o.
Leaving e2.4es. 92s %
OF the old debt unprovided for, and
this sum WAS raised by the fssue OF
new bonds IS follows On the first
day of June, 81 .65S 10000 r. gistered
three per cent. bonds. falling due as
provided by art Of the legislature pre-.
viousiy gu ted in this report were
issued 10 Simon Borg aCo., at the
contract price Of 1884 yielding to the
STATE liza saO %
And on the first day Of Octobef. t7os,
600 % were delivered to the same psr.
ties nj the contracr price Of 1903, net
ting to the state, 729 40 90
t2463 ,eOl 90
Leaving t25.p6 OF the old debt to be paid for
from the current funds Of the ONCE.
PRESENT BONDED DEBT.
The total bonded indebtedness Of the
State on the first day Of January, 1890,
amounted to $2.74s, 800 90 and was made
up as follows:
Loan of June !, 1850, ; DER cent, 1870. 900 90
Octo' er !. $50. at per cent, 7ve, 600 90
Special bond given Msine stat. College
due June !, 1919. at s per cent. lis, 800 co
Special bond given Maine stale College
due July l, 1917, al per cent, 100 oo0 90
Special tond given Insane Hospital due
July /. 1917. at per cent. 5000 90
2e52, 500 70
Bonds due June l, 1859, and not presented
for payment. 1900 90
Bond. due October !. IssV and not pre-
sented for payment, 1900 %
s2,74s. 800 90
BY the above statement 1t will be seen
that the bonded debt Of the State proper.
excluding the bonds issued to the Insane
Hospital and Maine State College upon
which interest alone 10 paid and the
amount Of the old six per cent bonds out
standing part of which NAV be returned