Evening star., 1900-12-03

In addition to this Indebtedness the Dis
trict had small floating debt for current
and emergent expenses not authorized by
antecedenJ appropria tions; but this floating
debt was not more than the revenues were
sufficient to meet, as well as to provide for
the current annual expenses
Trust Obligations
The District o. Columbia is required to
receive in payment of special assessments
or of arrears of general taxes S1O,447.2O VI
drawback certificates which were issued
under acts of Congress approved June 10
ISIS, vol me 90, page 1866: June q, 1879
volume .. page 166; June 81 1879, volume
q, page SO. July 5, 1854 volume %, page
l32, and June 2. 1880, volume 26, page ia
as rebates for oyercharges or interest on
account of special assessments levied by
form municipal governments; and is also
under Obligations TO pay out of the genera.
fund under section two Of the act of March
!, 1899. entitled AN act to provide for the
disposition of assessment certificates of the
District of Columbia. and for other pu--
poses, about $500 whenever a certain out.
standing invalid special assessment lien for
S2ui.t4. bearing interest at 10 per cent Der
annum July 2, 1890, Is presented for re-
.demption. To the extent of those two
amounts the District is practically indebt-
cd to the owners of the certificates ma
the holder of the lien The issue of draw
back certificates after June 80 1899 is pro-
hibited by u District of Columbia appro
priation law approved March g. 1899.
There was outstanding July l. 1899 In
the hands of private holders. s.. 7563s Of
Hens against private property for special
improvements and secured by special as
sessments of like amount. and sl3i3 IS
Of scrip issued against private property for
the cost of abutting public improvements
by the late corporation of the city of Wash
irgtou, and also secured by an equal
amount of special assessments. In case
any of said assessments should for any rea-
son become Uncoliectib!e. the Liens or scrip
would be redeemable out of the general
fund under said act of March 1, 1899 and
, To that extent are an obligation of the
District.
Any obligation that the District Is under
on account of any of said certificates is
much more than offset by the special as
seSsments due the District, amounting to
Sl1 14S.21, and accrued interest thereon at
the rate of 10 per cent per annum for
hn average of more than twenty years, and
cash collections of such assessments now
IN the hands of the treasurer OF the United
States amounting to $1,000.
Chesapeake and Ohio Canal BOnds.
The District OF Columbia, as the sue
cessor of the municipal corporations of
Washington and Georgetown. also possesses
nominal asset of $4,000 In bonds of the
Chesapeake and Ohio Canal Company.
These bonds are per cent coupon bonds
kD,Go of which were issued to the city of
Washington and $4,000 to Georgetown in
exchange for a like amount OF stock of
said municipalities. They were prepared
lnder an act of the state of Maryland ap-
proved in 1Sil which authorized the canal
company To utter S1,1OOOo0 of such securi-
ties to complete the canal, and making
them d lien the revenues Of the COM
pary. The bonds matured May 81, 1885.
Interest is due on them since July l. 1854
Those securities are In the custody of the
treasurer Of the United States ex-officio
Commissioner Of the District Of Columbia