The daily banner. (Cambridge, Md.) 1897-2008, 1917-04-09
STATE TREASURY
IN GOOD SHAPE
Debt Has Grown, But Sinking Funds
Have Kept Pace-Near Half Mil
lion in Cash.

lion in Cash.
| In his annual report to Governor
| Harrington State Comptroller Me
Mullen shows the STATE Treasury TO
| be in a healthy condition. While
mere has been an increase in the
States Indebtedness, due to the i'm
provement OF puDnc roads, the sink
ing tunQs and Investments have kept
apace.
The total receipts during the year
end1d December 81, incIu0Ilg Il bal
ance as OF October L, 1919, were $l2
i95, 1916. Ine disbursements were
Sill! 2,6I3.95, with a cash balance
III the treasury proper OF ql,6Z4,-
V95.23, with u baIauce in the FUNDS
Account OF $3.50, 2JJ.U9, or totaI
cash balance III DanAs OF $780,
o54.3Z. There is a Tree balance III
The treasury on October, 1916, OIL
$499, UYI.4U, against when are
cnargedDlG certain accounts therein
SHOWN as DaIances brought down
lrom the previous fiscal Year aggre-
eating I,l63.2U, leaving a cash
balance OF $44 ,o-o. TO meet the
general oDugaIIous Oh the STATE.
aggregated Oh UctoDer l, 1916, So
oJy,zuU, 49, ,ZUU otate OIL MARY
lanu bonds, and SZ98,UUJ baltimore
Clty aud MARY land Munlclpa4S, WlLl
d cash balance also OF sol aU66. 81
Carried down into the next nscal
year.
The gross debt of the State at the
close OF the fiscal year was $50, Y 3d.
n tho
holdings in The olnKing Funds, to-
sether with the mortgage Oh the
northern Central han" dy Company,
1mounung 10 So, ,Z66.o9, tie net
>ieDt CT the State IS 9Ii, i6J, il 50 O..
me SAFE Loan OF 1yUZ, : per cent,
authorized IN 1872, aggregatlng
y6VU,vVU natures July l, 1910, but
.uaSmucn Us the SINKING tu2-4- To-
This loan now hoIus 4o4o,2UO i'll
state bonds, and SIS, 226..6 IN cash.,
he ioaG Wlll De promptly retired at
maturity.
Continuing Comptroller McMullen
says:
While it is true the State has been
increasing its bonded Indebtedness,
leEerLnelesS SO pruuentIy and care
lully have its finances been managed
-,nd the integrity OF its Sinking
FUNDS been preserved that the creult
Of the state was so high on Decem-
Der II, 1916, as TO command bid
OF 101,6U1 for 100000 OF the 49,
J00,0UO Loan OF 1916, per cent.
bonds.
Il respectfully invite your atten-
ton to the legislative expenses of the
Session OF 1916 amounting to $1ZS,-
l24.96. The economy shown by the
its business should impress every
official OF the State with the neces-
sity OF conducting the various offices,
boards and commissions with the
greatest economy, always having in
mind efficiency as the most desirable
element of public service.
Il have requested the various
boards and commissions of the State
90 furnish this olice with schedule
of their receipts and expenditures
and submitted to them a form for
this purpose. l am glad to say that
many OF them responded promptly,
giving the information requested.
these statements Will be found as an
addenda to my report. My purpose
n asking for these are to establish
i custom whereby the financial mat
.ers OF the various institutions of the
State would eventually be placed, to
some extent, at least, under the
Comptroller's Office, with the idea of
making that Office more efficient and
more potent in State. economies