The Washington times., 1901-10-23
DISTRICT SINKING FUND.
The United States Treasurer's An
nual Report on Its Condition
Bonds Retired During the Year Ag-
Eregated Only Few Thousand
Dollars-IntoSestinE Summary of
the yoIumiuous Work of the Office

| Eregated Only n Few Thousand
Doliars-IntcSesting Summary of
| the VoIuminous Work of the Office
| The twenty fourth annual report OF the
Treasurer of the United States on the
| sinking fund and funded debt of the Dis
| trict of Columbia for the fiscal year end
| ed June 30, 1901, to the Secretary of the
| Treasury. was made public yesterday.
According to statements contained in the
| report the securities of the District in the
! custody of the Treasurer aggregate sS2S5,-
| 4G5 Disbursements during the year ag-
greSated $724. 757.S5.
The amounts uninvested of the sinking
fund for the old funded debt and the 365
per cent loan at the close of the fiscal
year 1909 were:
Sinking fund for old funded debt-Bal-
ance uninvested July l. 1900, S2S5, 7SS.S3;
amount available for fiscal year 1901, $292,
72+31; total, s57S,5lS.14.
Sinking fund for 3.65 per cent loan-Bal-
ance uninvested July l. 1901, S251 .6S7. 81; ;
amount available for fiscal year 1901 S352, :
1852; total, 6O4,2S2.56
The bonds retired for the account of the
sinking fund for the old funded debt
during the fiscal year aggregated $40
uninvosted. This sum includes S1,6S01S
! held for the payment of stocks and bonds
called for redemption and bonds overdue
not yet presented for payment.
The bonds retired for account of the
sinking fund for the 3.65 per cent loan
during the fiscal year aggregated $21,950.
cost S265s5.50, and a balance of S577, ,S37. .06
remains uninvested.
The balances of the sinking funds un-
invested July J. 1891, amounted to Sl,153,-
$50 90
Special effort was made during the
past year" says the report, Ito pu ~chase
the water-stock Z per cent bonds due
October l, 1901. and the thirty-year per
cent bonds due November !. 1892. but ow-
ing to the fact that they are all coupon
bonds 1t is difficult to locate the holders,
and but few could be secured Since
the close of the fiscal year 1901 thirty
year per cent bonds for SS,O00 and 3.65
per cent bonds for $3.50 have been pur-
chased, and the water-stock bonds for
SS19.c00. due October /. 1901. with three
months interest, payable with the bonds
have all been redeemed but S2S,OO0, which
will be paid when presented.
THE bonds of the District now availa-
bic for the sinking fund are thirty-year
ber l, 1852, water-stocl1 per cent bonds
for $4,000. due July 1, 19OS and 3.65 per
cent bonds for Sl4,201, 400, due August /,
1924. The 3.65 per cent bonds command a
premium Of 25 per cent and there are but
few in the market but could they be
purchased at this figure they would only
not the sinking fund about 2.25 per cent
per annum, while the appropriation fer
the sinking fund is on the basis OF en
increase OF 3.65 per cent per annum.
The amount available for the sinking
funds of the District of Columbia, exclu-
sive of the sinking fund for the water
stock bonds. for the fiscal year 1901, was
S5i5. 80. The amount available for the
sinking fund for the water stock bonds
for the fiscal year 1897 was si6g, ,275.2S
During the fiscal year 1901 there were
purchased water-stock bonds for 900 for
account OF the sinking fund for the old
funded debt, leaving sS53 UtJ outstanding,
of which s5l9. 600 matured October l, 1901
and will be redeemed by the sinking fund
for the old funded debt in exchange for
the bonds OF the old funded debt re-
deemed heretofore by the sinking fund
rvr the NatvT-sIUCK DOuIS. The balance
of the water-stock bonds outstanding will
then amount to SIS, ,.V0 and VIII be payable
July l. 1893. There Will be left in the sink
ing fund an equal amount of Per cent
bonds Of the old funded debt on which the
denominations of interest will thereafter
pay the interest on these bonds. 80 ap-
preparation from the water fund VIII here
aI.cr he required on this account. The
interest accumulations on the stocks and
ponds OF the funded debt retired during
the period from July ], ISIS. to the close
9Si02
The estimates submitted to the Com
missioners of the District of Columbia of
the amounts required by the Treasurer
for account Of the District OF Columbia
FOR the hscal year 1893 are: For interest
and sinking fund on the funded indebted
ness, exclusive OF the water bonds, SI,2l3,-
ysi-SI; for current expenses of the sinking
fund Office, s.. 100
An increase Of s3O) over the appropria-
tion for the current fiscal year is asked
for in the pay of clerks employed in the
slnking-fund Office. that they may ap-
proXimate the salary of those in the en-
plOy Of the United States and District of
Columbia performing similar responsible
duties.
The police and fremen'g relief funds are
reported as follows: Receipts for ac-
count Of Metropolitan police fund.- Cash
from Commissioners OF the District of
Columbia, $}@5-5.Sl. Payments FOR ac-
count Of Metropolitan police fund: De
posted in the Treasury, subject to the
requisition Of the Commissioners OF the
District of Columbia, so, jZ9Sl. Receipts
for account of fremen's relief fund: Cash
rom Commissioners Of the District of
Columbia, sl3 &c. Payments for ac-
count Of firemol's relief fund: Deposited
In the Treasury, subject to the requisiton
OF the Commissioners Of the District of
Columbia S13 GS3. .e6.
Regarding the business of the Office. Mr.
Roberts summarizes it in his report as
follows:
The transactions Of the office during
the fiscal year 1901 were as follows:
Examined arranged, and recorded
ZrZ3Z paid coupons and four interest checks
pertaining 70 the various bonds of the
District representing a disbursement of
$j5. .2sl-Si, and rendered account therefor
Purchased and redeemed for the scy-
eral sinking funds bonds amounting to
$29. .Ol5.5G
Disbursed salaries Of the office amount
ing to $3.50, represented by twelve vouch-
ers and accounted therefor
Examined, recorded, and Cancelled $1,000 I
CT the coupon bonds Of the 3.65 per cent
loan received for exchange, and 81 lSO. 900
of registered bonds received for transfer
Received $53,2l3.T7 for account Of the po-
lice and hrcmen's relief funds and depOs-
lted the amount I'm the Treasury in
nopthly lnStallmentS, subject to the
requisition Of the District Commissioners
Received retcntions from twenty-eieht
separate contracts with the District
amounting to SCI S33. 81. and DlIrcha sed for.
account Of contractors S6l l9O in bonds
Made settlement of retcntions from
thirty y-one contracts, the securities held
therefor amounting TO S6S,S0O In bonds and
8. .24l 80 In cash.
Transferred ana mailed to each con-
tractor or his representative the checks
for interest on the bonds held for ac-
count Of the several contracts numbering,
about $50 quarterly.
Prepared for publication four quarterly
debt statements.
Brfcfed. recorded, and filed 119 letters
and accounts.
The correspondence OF the Office IN
volycd The writing of about 316 letters
The business Of the Office required 2,Gf3
signatures by the Treasurer.
n 10 y
gate S724, 1875.
Securities Of the District of Columbia I