The Somerset reporter., 1890-02-06
maine State Finances.
ANNUAL REPoRr OF STATE TREASURER
BEAL on MAINE FINANCES.

ANNUAL REroRr OF STATE TREASURER
BEAL on MAINE FINANCES.
The annual report of the State Treasur'
er, Hon. George l.. Beal, Is completed
and is In the hands of the printer. The
receipts are Cash In Treasury Jan. /,
1889, S272, 2s3 Al total receipts for the
wear 1889 81, las, i93 90 total, s., i2O,-
- 80 total expenditures for the year
1852. 81 .35s OBS 81 cash in treasury Dec
81, ls>9, So 61s4l; total, s5,42o,71I 33.
The resources of the State Jan. !, $50,
were Ss22, 5ll ~; liabilities, 81 250, j9s. a.
IN extended statement of the refunding
of the public debt is presented, and the
Treasurer says it has been done in man
ner which should be emnently satisfac-
tory to every taxpayer.
The committee having In charge the
examination of State Treasurer Beals
accounts. have completed their labors and
reported January 3lst as follows:
To the Honorable Governor and Execu-
tive Council;
The Treasurer's statement and account
of receipts and expenditures for said
year, as stated 10 his report, were found
to he correct.
The books of the Office are properly
kept and all vouchers. pertaining TO the
business of the department, neatly filed
aud numbered, in accordance with the
excellent system adopted in that depart
ment years ago.
The former high standard of the man
agement of the Treasury Department has
been fully maintained and the commit. t
feel that much or, dit is due the efficient
State Treasurer for the skillful aud sue
cessful manner In which he has managed
the financial affairs OF the State the past
year; and the State is to be congratulated
upon its strong financial standing, As
evinced by the sale of It's three per cent
bonds In New York markets, at a premium
of over three per cent on their face val
ne, A record so CRAFTY ing to every citi-
zen of the State, deserves, at our hands,
recognition in this report.
The amount OF cash on hand at the
close Of the year 1889. was S62 SIS Al of
this sum Sic 500 "a in currency and
checks was in the vault at the Treasurer s
office, and S4d, II was on deposit In
banks within the State and in Suffolk
National Bank, Boston. The last named
bank allows interest to the State on its
deposits, which amounted, during the
year, to Sj,3OS 30
The bonded Indebtedness of the State
on January l,lSs9, as appears by the
Treasurer's report, was So SCI 10000 al
maturing during the year, and the same
was paid in the manner provided by the
refundng bill of the Legislature, ap
proved March ID, 1889 save $96 10000
which had not been presented for pay
ment.
The present bonded debt of the State
as represented in the Treasruer's report
is 81 AS, 10000, in this amount is includ
ed $40, 800 90 old issue still outstanding
and which will be paid, when presented
from the current funds in the treasury.
As required by law the committee de
stroyed by burning, in the presence OF
the State Treasurer, all State of Maine
bonds redeemed during the year, amount
ing to the sum of 1871 400 90 a recort
OF the same and the number and amount
Of each bond is on file in the Treasurer:
office.
The securities in the sinking fund OF
1889, in charge of the State Treasurer
amounting. August | 1889, to tie sum OF
1895 1898, at their par value, were dis
posed of in the manner provided by Law
and the proceeds of their sale, including
the premium received, wiz: S239 ,904.7l
applied towards the payment of the State
debt due October l. 1889.
The committee, in compliance with law
destroyed by burning, In the presence OF
the Treasurer, all coupons paid by the
State Treasurer. on account of the public
debt, during the year 1889, amounting tC
the sum SOL LOG 90, as charged on hi.
books, exclusive of 1927 ,876 80 Interest
paid on registered bonds, vouchers fol
which were on file in his office. The
committee also destroyed in like manner
all registered bonds received by the State
Treasurer during the wear for reissue
amounting to 1884 900 90.
The committee find in the hands of TIT
State Treasurer, placed there in conform
~ ~ ; ss',h Law Trust Fnnda amounting III
the sum of SlS3,S Ga, deposited by tn,
several associations hereafter named, fol
The benefit of their certificate holders
The securities and cash of each assoca
ton ON deposit were examined and founc
to agree in character and amount, a,
shown by the State Treasurer In ais re
port. The deposits are as follows;
Union Mutual Life Insurance
Company, Portland $l00,0o0 on
Maine Benefit Association,
Auburn, 50, 03l 81
Provident Aid Society, Port
land, 1888 OF
Maine Dirigo Mutual Accident
Association, Portland, 1000 on
Maine Mutual Accident Asso-
citation, Lewiston, 1876 OF
Maine a1d New Brunswick
Insurance Company, Bangor, 9,l7S .!
Golden Rule Relief Associa-
ton, Portland, 3i3 I!
The committee in the discharge of thei
official work acknowledge valuable ale
from the State Treasurer and from hi.
competent clerks.
Respectfully submitted,
S. G. HATCu,
A. X. BIXBY,
GEO. M. WARREN,
THos, w. PORTER,
OTIS KALEE,