New-York tribune., 1909-01-01
SURPLUS OF $l3,OOO.OOO
GLYNNS ANNUAL REPORT
Cash Balance in Treasury Largest
IN Statc's Histor8.

,4t,-, nee sf-Cont0oller Martin II Glynn
&C., MADE pualic his second annual report to
-. LEGISLATURE. showing the financial condition
= .se state and the operation % the bureaus Of
,x department during the dsoal year ended on
-.-+e-7rer Sn 1a0S The cash balance in the treas
my on that date Sgl.7S5o76 % distributed as
follows
-,-s-~es-e5 money OF canal debt sinking fund. S5-
So qss G.. trust fsads. including highway improve
-re7t sinking fund s. 951S .. During the year
she actual receipts were &7slsS5 . and the a'iea
-,sv~rents ssoTs7 so $. an excess o. Te'elp'S
over payments OF s1loi25es So The surplus IN the
treasury AZ the c3ose Of the fiscal year was Slz.-
SS4e
The cash balance Of Sl7S5o76 = Is the largest tS
-Ne history q the state. ard the surplus or SA''
ss--s4 o5 SS2oS4 = less than the surplus 81 the
preceding wear. notwithstanding the disturbed con
6'ftor of the country which in Itself would natu-
-a-y cause dinliuution IN revenues from indirect
sor7ces
The surplus s s47e5S77 - i- excess n the esti-
mates s7d = made up principally from increased
rsef1ts IN tax on corporations. transfer transfers
- stock and MGuor taxes and tve0ty-year court
r-s trust funds
TIE su~pF-.s IS none TOO large FOR the needs of
ne treasury So ont n the amount IL Is necessary
e. Zen u r state TAX 70 pay the annual Contri-
r-.-lo7 The sinking funds of the canal and the
hlchus- Improvement for the current EeaT the
sun ~ ss-C-5sss S
The principal expenditures FOR the year show an
.--s7se Of s. -ss co over 1s'- The total for 1877
fs gwen IS S. 7os-s a. and for l90S $459o76 "a
-re principal items Of excess which make UP this
r----t zra- Canals. sc.04o.l7o s. highways SlSl-
- g. s6cCa lorsl purposes. S6e-Sso IS and depart
--s--s. corau1IsS;ons etc. SSSl.SsS g,
Among other things in his report the Controller
calls attention t1 the transfer 10 the State Treas
.-- from va-io1s counties Of the state Of the sum
p rs75-s 6s of ruenty-vear court and trust fund
MONEYS and calls attention 10 the fact that New
York County has more than $4,000 Of twenty-year
court sid trust fund moneys which should be
sg-res irto the srsre Treasury
n the corporation tax bureau S,7el more corpora
tsrE 7sss taxes than two .ea-s The total col
ra-,o-s -cr -he year were nearly Soooeo, which IS
over N-l1aa5 more than two years ago This in
crease has been made despite The fact that four
----ss75 c-rco-a lions heretofore subject 10 as
-ass--e-- were taken o[ The tax rolls during the
-ps- ss- because Of failures and financial depres-
son and e large number q corporations were
s~--as n nay taxes for the first time in thirteen
ves-s-
n The transfer tax bureau the receipts were
"a no mora than last year and sIeoo,olo mora
--s- ru-o wears zEo. This money has been col
rs--.= 81 less cost n the state and al percentage
ra-e lower than two years ago
The Controller states that the state IS not re
ceiv--E- al Il should from The stock transfer tax
and recommends that the law be amended along
lines somewhat similar 70 those found in the
United states Revised Statutes covering the use
of Tinted States re -enue stamps.