Biennial report of the Treasurer of North Carolina

              Clje Lifttarp
of tf)E
Onitjerisitp of Jl^ortb Carolina
Collection ot Bottii Caroliniana
C35G
UNIVERSITY OF N.C. AT CHAPEL HILL
00033968172
This book must not
be taken from the
Library building.
ocn
REPORT
OF THE
TREASURER
OF
NORTH CAROLINA
FOR
FISCAL YEARS
ENDING JUNE 30, 1931 AND 1932
JOHN P. STEDMAN
State Treasurer
Presses of
Edwards & Broughton CoiiPANT
State Printers
1932
STATE TREASURER'S REPORT
For Fiscal Years Ending
June 30, 1931, and June 30, 1932
CONTENTS Page
Alphabetically Arranged Comparative Receipts and Disbni'sements 30
Consolidated Statement—Two Fiscal Years Ending June 30, 1932 8
Consolidated Statement—Fiscal Year Ending June 30, 1931 9
Consolidated Statement—Fiscal Year Ending June 30, 1932 19
Disbursements—Fiscal Year Ending June 30, 1931 31
Disbursements—Fiscal Year Ending June 30 , 1 932 24
Letter of Transmittal 5
Public School Building Loans from Bond Issues 35
Public School Building Loans—Literary Fund 37
State's Investment in Railroads 38
State Sinking Funds 39
State Debt 42
Treasurers of North Carolina 4
PUBLIC TREASURERS OF NORTH CAROLINA
From To
Richard Caswell, Northern District. . . 1775 1777
Samuel Johnston, Southern District .. . 1775 1777
Memucan Hunt 1777 1787
John Haywood 1787 1827
William S. Robards 1827 1830
William S. Mhoon 1830 1835
Samuel T. Patterson 1835 1837
Daniel W. Courts 1837 1839
Charles L. Hinton 1839 1843
John W. Wheeler 1843 1845
Charles L. Hinton 1845 1851
Daniel W. Courts 1851 1863
Jonathan Worth 1863 1865
Jonathan Worth, Provisional Treasurer June 12, 1865 Nov. 16, 1865
William Sloan Nov. 16, 1865 Jan. 1, 1866
Kemp P. Battle Jan. 1, 1866 July 8, 1868
David A. Jenkins July 8, 1868 Nov. 22, 1876
Jno. M. Worth Nov. 22, 1876 Jan. 21, 1885
Donald W. Bain Jan. 21, 1885 Nov. 16, 1892
Samuel McD. Tate Nov. 16, 1892 Jan. 23, 1895
William H. Worth Jan. 23, 1895 Jan. 15, 1901
Benjamin R. Lacy Jan. 15, 1901 Feb. 21, 1929
Nathan O'Berry Feb. 23, 1929 Jan. 6, 1932
John P. Stedman Jan. 7, 1932
STATE OF NORTH CAROLINA
Raleigh
Treasury Department
November 12, 1932
Governor 0. Max Gardner,
Raleigh, North Carolina.
Sir:
I submit herewith the report of the operations of the State Treasurer
for the fiscal years ending June 30, 1931, and June 30, 1932, for trans-mittal
to the General Assembly. The schedules of receipts and dis-bursements
in this report I think are clear and need no explanation.
The bonded dept of North Carolina as of November 12, 1932, is
as follows:
General Fund Bonds $ 46,787,000
Highway Bonds 108,287,000
Public School Building Bonds 15,335,000
World War Veterans Loan Bonds 2,500,000
Total $172,909,000
All of these obligations, with the exception of the General Fund
Bonds, are taken care of by special payments and special taxes. For
instance, the Highway Bonds are being paid by license and gasoline
taxes; the Special School Building Bonds are being paid by repayment
of loans by the counties; the World War Veterans Loan Bonds are
being paid by veterans who have borrowed money from this fund.
The last Legislature instructed the Highway Department to repay
certain counties for highways built by those counties. There is due
to these counties on account of the contracts entered into by the High-way
Department $4,025,971.
The State at present owes $12,502,371 on short time notes, $5,727,000
of this was loaned to the State by North Carolina Banks. This makes
a total indebtedness of the State of $189,437,342.
After studying the duties of this office, I make the follo\\ing recom-mendations
:
First, that the Legislature authorize the Treasurer to issue short
P term serial bonds to cover the existing deficit and the deficit that T\dll
J^ exist at the dnd of this fiscal year.
l>
JO
Report of State Treastjree
Second, that only bonds to fund the present deficit be issued. I
do not think it is advisable to issue bonds for any permanent improve-ments
at this time.
Third, that Highway Funds and General Fund be combined. At
present there are several funds. When there is a surplus in one fund
and a deficit in the other fund, and when it is necessary to borrow
money the combined funds are not considered by our creditors. The
fund in which a deficit is shown is criticized by our creditors and a
rate of interest for borrowed money is based on that particular fund
and not on the combined fund. It is my opinion that a cheaper rate
of interest can be obtained in borrowing money by a combined fund.
In view of the fact that all the moneys in the State Treasury' belong
to the State, the money should be used for a common purpose. I think
a provision should be made that the revenues from the sale of auto-mobile
license tags and gasoline taxes be first used to pay the debt
service of the Highway Bonds, and any funds from these two sources
of revenue after making these payments be used as the Legislature
may provide by proper appropriations.
Fourth, that the State not assume any additional burden of cost
of local government. This is absolutely necessary if we are to finance
our present deficit. I do not refer to fifteen cent ad valorem taxes.
Fifth, that the collection of automobile license tags be December 1
instead of January 1. The State has large obligations to pay January 1.
It is impossible to collect funds that are due January 1 in time to get
the benefit of these collections.
Sixth, that the Treasurer be appointed a member of each board in
the State in which money is spent or allotments made, or which have
the responsibility of gathering information or raising revenues. The
Treasurer is the fiscal "agent of the State. He should be on boards,
such as the Budget Commission, the Highway Commission, Tax Com-mission,
and the Board of Equalization. This is necessarj- in order
that the Treasurer could properly advise those boards of the financial
condition of the State, and in order that he may be informed as to
anticipated expenses and receipts.
Seventh, that all appropriations of the State be put under the super-vision
of the Director of the Budget. While during the past year a
cut of an average of eight per cent shows on the legislative appropria-tions,
the colleges, eleemosj^nary institutions and departments received
a thirty per cent cut, because those appropriations and those alone
could be reduced in order to adjust expenditures to income.
Report of State Treasurer
Eighth, that a revenue bill be enacted as early as possible and
appropriations be made in order that the Treasury can take steps to
repay the current short time borrowings.
Ninth, that the rate of interest for State funds in State banks be
reduced. The present rate that banks in North Carolina are paying
for State's funds is 2}4% on daily balances. These funds are all
secured. I think the rate is entirely too high, considering that the
funds are secured.
In closing, I desire to express my sincere appreciation, first, to the
Governor of the State, O. Max. Gardner, for his cooperation. It
would have been impossible to borrow the amount of money that the
State has been able to borrow except for his leadership and assistance.
His foresight as Director of the Budget in curtailing the appropriations
during his administration is responsible in a large measure for the
ability of the State to borrow. But for his firm stand for economy
in making these drastic cuts, I believe it would have been impossible
for the State to continue on a cash basis. To no man is the State more
deeply indebted.
Second, I wish to acknowledge with deep gratitude the assistance
of the North Carolina banks who so generously came to the aid of the
State in making loans to the State at this time.
Third, may I not acknowledge with deep gratitude the assistance
that has been rendered me since the short time I have been in office
by the force in the Treasury Department. I am firmly convinced
that there is no more loyal force in the employment of the State govern-ment.
I am especially indebted to Major W. F. Moody, Deputy
Treasurer, who on account of his years of experience in his present
office, has been of invaluable assistance to me.
Respectfully submitted,
John P. Stedivlin,
State Treasurer.
Repoet of State Treasurer
TREASURY DEPARTMENT
CONSOLIDATED COMBINED STATEMENT
Receipts and Disbursements toe two Fiscal Years Ending June 30, 1931 , and 1932
Receipts
CaBh Balance July 1, 1930 $ 12,958,200.64
General Fund:
Tax Revenue:
Schedule "A" Inheritance
Tax $ 1,4£6,380.70
Schedule "B" License Tax_- 3,689,335.11
Schedule "C" Franchise Tax 11,358,809.76
Schedule "D" Income Tax.. 13,388,081.54
Ad Valorem and Poll Tax.. 3,354,293.36
Miscellaneous 479,261.86
Non Tax Revenue 2,431,224.19 $36,197,386.52
Departments and Institutions.... 10,972,319.22 $47,169,705.74
Special Funds:
Tax Revenue 51,403,073.59
Non Tax Revenue.. 9,360,488.60
Surplus Cash Investment 1,013,781.75 61,777,343.94
Debt Service Transfers 16,587,853.05 $78,365,196.99 125,534,902.73
Bond Sales, Note Sales and Renewals 29.009,371.00
$167,502,474.37
Disbursements
General Fund:
Departments, Boards and
Commissions.-.. 4,518,822.36
Judiciary 762,739.49
I^egislature 247,284.53
Pensions 1,892,146.23
Public Schools 23,619,258.79
Educational Institutions 11,418,779.93
Charitable Institutions 2,866,882.94
Correctional Institutions 2,935,181.26 48,261,095.53
Debt Service 6,621,957.04
Refunds 471,215.13
Sinking Fund Contributions 585,910.00 55,940,177.70
Special Funds:
Departments 1,683,659.08
Highways 57,581,701.91
Surplus Cash Investments 1,021,781.75
Permanent Improvements 2,618,394.83
Public School Loan Fund 874,604.75
Veterans Loan Fund 900,047.35
Sinking Fund Investments 3,499,525.82
Debt Service 16,631,896.67 84,811,612.16
Fund Transfers 2,121,900.37 86,933,512.53 142,873,690.23
Notes Paid and Renewed - 16,400.000.00
Cash Balance June 30, 1932 - 8,228,784.14
$167,502,474.37
Report of State Treasurer
TREASURY DEPARTMENT
CONSOLIDATED STATEMENT
Receipts and Disbuhsements Fiscal Year Ending June 30, 1£31
Receipts
Cash Balance July 1, 1930 S 12,958,200.64
General Fund:
Tax Revenue:
Inheritance Tax, Schedule
"A" $ 1,013,828.85
License, Schedule "B" 1,333,688.70
Franchise, Schedule "C"—. 4,688,907.62
Income, Schedule "B" 6,128,677.03
Miscellaneous 385,045 .22
Non Tax Revenue 1,063,065.95 514,613,213.37
Departments and Institutions 5,778,044.13 820,391,257.50
Special Funds:
Tax Revenue 25,748,193.17
Non Tax Revenue 4,318,265.22
Surplus Cash Investments 1,013,781.75 31,080,240.14
Debt Service Transfers 7,463,468.19 38,543,708.33 58,934,965.83
Bond Sales, Note Sales and Renewals 16,807,000.00
Total Receipts $ 88,700,166.47
Disbursements
General Fund:
Departments, Boards and
Commissions 2,531,639.64
Judiciary.- 389,434.90
Legislature 234,571.52
Pensions 930,983.73
Education 12,657,336.51
Charitable and Correctional
Institutions- 3,054,825.59 19,798,791.89
Debt Service 3,235,820.65
Refunds 106,314.73
Sinking Fund Contributions 319,190.00 23,460,117.27
Special Funds:
Departments 736,801.22
Highways 28,732.742.57
Permanent Improvements-.. 969,131.57
Public School Building Loans 764,378.28
Veterans Loan Fund - 226,031.15
North Carolina Park Fund 1,171,688.59
Surplus Cash Investments 1,013,157.16
Sinking Fund Investments 2,397,046.20
Debt Service 7,931,750.42 43,942,727.16 67,402.844.43
Notes paid and renewed 12,600,000.00
Cash Balance June 30. 1931 8,697,322.04
Total Disbursements- $ 88,700,166.47
10 Report of State Treasurer
report of state treasurer
Receipts foe Fiscal Year Ending June 30, 1931
Balance July 1. 1930 $ 12,958,200.64
General Fund:
Tax Revenue:
Blue Sky (Capital issue).... % 16,211.89
Corporation Tax State Department 73,020.76
Fees:
Attorney General $ 520.00
Executive Department 6,957.55
Insurance Department 16,205.10
State Department 1,071.95 24,754.60
Bus Tag Tax:
Income Tax 6,128,677.03
Inheritance Tax.... 1,013,828.85
Interest on Bank Balances 260,683.77
Seal Tax:
Governor s Office. 7,608.00
State Department. _. 343.00 7,951.00
Schedule "B" Miscellaneous License 1,333,688.70
Schedule "C" Franchise, etc . 4,688,907.62
Trade Mark Registration 213.90
Penalties State Department 2,209.30
Total General Fund Revenue SIS, 550, 147.42
Non Tax Revenue:
Railroad Dividends:
Atlantic & N. C. R. R._.. 44,331.00
North Carolina R. R 210,014.00 254.345.00
Spanish American War Balance 17,637.46
Books, Sale of:
Laws and Journals 625.12
Supreme Court Reports... 8,225.08 8,850.20
Collected for General Fund from .Special Funds:
Gasoline and Oil Inspection. 742,233.29
Highway Maintenance 40,000.00 782,233.29
Refunds:
Attorney General S 192.40
Auditor's Department 3,021.34
Bond Sale, Expense of 6,719.90
Board of Charities and Pub-lic
Welfare 28.35
Budget Bureau 3,000.00
Fugitive from Justice 5.00
Governor's Mansion 15.68
Governor's Office 65.00
Historical Commission 495.61
National Guard... 7,413.37
N. C. Corporation Commis-sion
284.15
N. C. Library Commission.. 299.39
Pensions.. 315.00
Public Buildings and
Grounds 16,394.45
Report of State Treasurer 11
Revenue Department S 78.77
State Library 417.17
Tax Commission... 4.10
Tax Reduction Fund 8,489.67
Vocational Education In-dustrial
Rehabilitation 347.72 $ 47,577.07
Total General Fund Non Tax Revenue $ 1,110,643.02
Departments and Institutions carried in General Fund:
Appalachian State Teachers College... 107,120.25
Board of Education 6,446.66
Caswell Training School 4,284.51
Cherokee Indian Normal School 5,645.73
Conservation and Development 363,724.96
Division of Coastal Fisheries 48,621.90
East Carolina Teachers College 232,467.04
East Carolina Industrial Training School 50.00
Elizabeth City Normal School 29,004.75
Fayetteville Normal School 33,518.24
Home Industrial School for Girls 1,838.67
Industrial Farm Colony for Women 211.87
Insurance Department 18,715.09
Morrison Training... 944.21
Negro A. & T. College. 68,179.44
N. C. College for Women 708,021.31
N. C. A. & E. College 927,066.85
N. C. School for Deaf 8,532.23
N. C. School for Deaf and Blind... 13,521.93
N. C. College for Negroes 37,535.24
N. C. Board of Health 99,325.83
N. C. Industrial Commission 22,885.91
Orthopaedic Hospital 2,038.37
Public Printing and Supplies 57,428.67
State Hospital, Goldsboro 16,981.09
State Hospital, Morganton 14,969.12
State Hospital, Raleigh 43,444.37
State Prison 1,037,035.44
Stonewall Jackson Training School 3,344.86
Tuberculosis Sanatorium 147,610.57
Tuberculosis Sanatorium
Extension 956.57 148,567.14
University of North Carolina 1,511,104.16
Vocational Education 38,019.20
Western Carolina Teachers College 69,006.53
Winston-Salem Teachers College 50,865.49
Total Receipts Departments and Institutions 5,730,467.06
Total General Fund Including Departments and Institutions ? 20,391,257.50
Special Funds;
Tax Revenue:
Agricultural Department 375,450.14
Banking Department 52,026.17
Highway Funds:
Automobile License 6,260,019.80
Gasoline Tax 12,997,358.49
Miscellaneous Receipts
Maintenance 411,112.50
Jliscellaneous Receipts
Construction 5,481.073.34
12 Report of State Treasurer
Tolls Cape Fear River
Bridge $ 95,970.25
Tolls Chowan River Bridge 75,182.48 $25,320,716.86
Total Special Tax Revenue S 25,748.193.17
Non Tax Revenue:
Bua Depository... 2,09,^80
Civil Engineers and Land Surveyors 2,601.50
County School Attendance Fund 20.50
Federal Funds;
Forest Reserve 10,074.04
N. C. A. & E. College 33,500.00
Negro A. & T. College.... 16,500.00 60,074.04
Land Titles Assurance of 75.32
Insurance Department 43,055.42
Interest Accrued and Pre-mium
from Bond Sales:
General Fund Bonds 4,206.50
Highway Construction
Bonds 1,240.00
Cape Fear River Bridge
Bonds 14,554.17 20,000.67
Motor Vehicle Bureau 135.00
N. C. Real Estate Commission 4.304.80
N. C. Fair 71,449.91
Rockefeller Funds:
Negro Welfare 3,900.00
School Attendance Fund.- 1,377.30 5, 277. .30
Rodman Trust Fund 1,681.00
Rosenwald Negro Welfare Fund 100.00
Sinking Funds:
State Highway No. 1 139,349.14
State Highway No. 2 756,726.08
Public Sch. Bldg. No. 3... 42,731.33
Public Sch. Bldg. No. 4._. 69,797.36
Charitable & Edu. No. 5.. 249,042.89
Charitable & Edu. No. 6.. 101,881.77
Charitable & Edu. No. 7-. 109,436.32 1,468,964.89
County Loan Trust (S) Fund 84,233.77
Building Funds, Fire, Loss, etc.:
E. Carolina Training Sch... .500.00
Elizabeth City Normal Sch. 500.00
N.C. Sch. for Blind, Raleigh 1,017.34
Negro A. & T. College i0,865.13
State's Prison _ 7,500.00
State Hospital, Goldsboro.. 42.06
State Hospital, Morganton
352.00
Stonewall Jackson Tr. Sch.. 13,132.16
University of N. C 67,913.78
W. Caro. Teachers College. 3,994.46
N. C. School for Deaf.. 2.50.00
N. C. College for Negroes... .500.00 106,566.93
State Board of Education:
Loans for Bldg. Sch. Houses. 270 , 246 . 22
Sale of Swamp Lands 2,018.70 272,264.92
Report of State Treasurer 13
State Warehouse System $ 58,369.67
Weights and Measures 2,895.00
World War Veterans Loan Fund 224,097.33
Transfer for Motor Vehicle Bureau. 468,047.12
Public School Building Loans:
Payment Loans Laws 1921.. 358,183.49
Payment Loans Laws 1923.. 359,397.90
Payment Loans Laws 1925.. 471,837.61
Payment Loans Laws 1927.. 232,535.33 1,421,954.33
Total Non Tax Special Fund Receipts $ 4,318,265.22
Surplus Cash Investments 1,013,781.75
Total Special Fund Receipts $ 31,080,240.14
Debt Service Transfers:
Highway Interest 4,873,777.92
Chowan River Bridge Interest 23,375.00
Cape Fear River Bridge Interest 12,395.83
Public School Building Interest 316.000.00
Veterans Loan Interest 75,319.44
Highway Bond Redemption 2,162,600.00 7,463,468.19
Bond Sales:
Education and Charitable Institutions Permanent Improvement
Laws 1927 4,307,000.00
Cape Fear River Bridge 1,250,000.00
Highway Construction Bonds 4,000,000.00 9,557,000.00
Note Sales and Renewals 7,250,000.00
Total All Receipts $ 88,700,166.47
Disbursements for Fiscal Yeah Ending June 30, 1931
General Fund Disbursements:
Administration Departments, Boards and Commissions:
Aycoclj Statute ? 2,250.00
Board of Elections 13,220.91
Board of Charity and Public Welfare:
Administration. S 34,479.95
Child Welfare Commission.. 25,733.56
Mothers' Aid 44,079.38 104,292.89
Budget Bureau 59,114.57
Bureau of Labor and Printing 32,835.19
County Advisory Commission 11,897.39
Conservation and Develop-ment
Administration 482,375.22
Division of Coastal Fisheries 50,581.47 532,956.69
Division of Purchase and Contract 861.05
Division of Personnel j 730.51
Gasoline and Oil Inspection 66,583.30
Historical Commission 28,339.44
Insurance Department 106,823.69
Local Government Commission 7,102.34
Fire Protection Smoky Mountain National Park 1 ,321 .02
National Guard 163,890.59
N. C. Board of Health:
.\dministration : 472,296.25
Orthopaedic Clinics 8,000.00 480,296.25
14 Report of State Treasurer
N. C. Library Commission $ 19,815.38
N. C. Industrial Commission 78,858.33
N. C. Corporation Commission:
Administration 51,311.01
Special Rate Work 21,159.29 72,470.30
Public Buildings and Grounds:
Capital and Caswell Squares 117,598.22
Gov.'e Mansion and Grounds 11 , 195 .86 128,794.
Public Printing and Supplies 54,860.78
Revenue Department 224,393.74
Salary and Wage Commission.. 2,742.93
State Library 9,764.48
Transportation Commission 693.79
Tax Commission. 28,464.25 S 2,233,403.89
Contingency and Emergency:
Bonds Expense of Sale 11,927.17
Funeral Expenses... 35.40
Sinking Fund Commission 5,929.78
National Guard Special Duty 431.92
18,324.27
Executive Departments:
Auditor's Department 48,393.70
Attorney General 18,084.85
Department of Education 121,589.64
Executive Council 10,609.77
Governor's Office 20,577.16
State Department .- 21,830.60
Treasury Department 32,765.27 273,850.99
Judiciary:
Judicial Conference 391.30
Supreme and Superior Courts 376,458.56
Supreme Court Reports 12,485.04
Uniform Laws Conference 100.00 389,434.90
Legislature:
General Assembly... 234,571.52
Pensions:
Soldiers and Widows 918,839.50
Inmates Soldiers Home 366.00
Disabled Soldiers. 7,377.50
W. T. Reaves 900.00
I. C. Blair 600.00
Olivia B. Grimes 650.00
Pension Investigation, M. W. Gantt.... 2,250.73 930,983.73
State Aid and Subsidies:
Bennett Memorial 50.00
Confederate Cemetery 500.00
Confederate Museum 250.00
Firemen's Relief Fund:
Volunteer Ass'n White 1,875.00
Volunteer Ass'n Colored. . 625 .00 2 , 500 . 00
Fugitives from Justice
Spanish American War Veterans.
Tubercular Cattle
1,465.55
72.50
1,222.44 6,060.49
Report of State Treasurer 15
Debt Service:
Interest:
4% Bonds .- $250,794.00
414% Bonds 457,130.00
43^^% Bonds 498,577.50
4M% Bonds 360,168.75
5% Bonds 368,050.00
Short Term Notes 203,100.40 $2,137,820.65
Bond Redemption:
4% Funding Bonds.. 100,000.00
4M% Debit Balance Bonds 998,000.00 1,098,000.00 $3,235,820.65
Educational, Charitable and Correctional Institutions:
Education:
Appalachian Teachers Col. 155,802.54
Cherokee Indian Nor. Sch. 28,438.81
E. Caro . Teachers College. 385 , 599 . 36
N.C. College for Women_. 1,057,605.59
N. C. School for Deaf 119,599.91
N. C. School for Blind.... 128,352.40
N.C. College for Negroes.. 79,219.54
Negro A. & T. College.... 120,226.29
Normal School, Fayette-ville
5,992.38
Normal School, Elizabeth
City 56,437.47
State College of A. & E._. 1,441,168.63
University of N. C 2,197,400.48
W. Caro. Teachers College 122,427.60
Winston- Salem Teachers
College 86,990.66
Total Educational 6,045,261.66
Public Schools:
Equalizing Fd. to Counties 6 , 353 , 819 . 28
Farm Life Schools 16,660.00
Rural Libraries 6,500.00
Teachers Training _. 40,226.24
Vocational Education Re-habihtation
14,508.35
Vocational Education 180,360.98
Total Public Schools 6,612,074.85
Charitable Institutions:
Caswell Training School-. 141,206.40
Conf. Women's Home 11,699.08
Orthopaedic Hospital 98,015.61
Oxford Orphanage, White. 30,000.00
Oxford Orphanage, Colored 27,500.00
Soldiers' Home 32,529.48
State Hospital, Goldsboro 228,065.09
State Hospital, Morganton 321 , 944 .60
State Hospital, Raleigh... 375,217.81
Tuberculosis Sanatorium. 290,816.06
Total Charitable Institutions 1,556.994.13
16 Report of State Tbeasurer
Correctional Institutions:
E. Caro. School for Boys. $ 37,416.37
Efland School for Women. 2,000.00
Training School for Girls-- 87,911.39
Farm Colony for Women-- 15,891.02
Morrison Training School- 32, 126.87
Jackson Training School.- 124, 907 . 10
State Prison 1,197,578.71
Total Correctional Institutions $ 1,497,831.46
Total Educational, Charitable and Correctional Institutions $15,712,162.10
Refunds:
Revenue Department:
Inheritance Tax --- 21,667.41
Licenses 21,335.18
Franchises 10,604.00
Income 51,313.29 104,919.88
State Department:
Corporation Tax 991.65
Fees and Seals 14.20
Trade Mark Registration 1.00 1,006.85
Executive Department:
Fees 15.00
Seals 15.00 30.00
Insurance Fees . 358.00 106,314.73
Sinking Fund Contribution -- 319,190.00
Total General Fund Disbursements including institutional, departments and com-missions
income % 23,460,117.27
Special Funds Disbursements:
Agriculttu-al Department:
Administration 428,925.27
Weights and Measures 3,449.12 432,374.39
Automobile Funds:
Highway Maintenance 16,801,118.01
Motor Vehicle Bureau Exp. 412,844.01
Highway Construction-... 11,441,705.16 28,655,667.18
Banking Department 54,991.26
Bus Depository Account 3,568.30
Civil Engineers and Land Surveyors 2,628.81
Insurance Department 41,834.79
N. C. Real Estate Commission 6,163.78
N. C. State Fair 85,503.17
Rodman Trust Fund 1,560.00
Rosenwald Negro Welfare Fund 554.27 29,284,845.95
Federal Funds:
State College A. & E.. 33,500.00
Negro A. & T. College 16,500.00
Forest Reserve Fund 10,074.04 60,074.04
Report of State Treasurer 17
Rockefeller Funds:
School Attendance $ 2,192.83
County School Attendance 33.93
Negro Welfare 3,974.17 $ 6,200.93
Interest and Bond Curtail:
Interest:
Highway Notes _... 104,032.92
Chowan River Bridge— 23,098.75
Highway - 4,408,223.75
Public School 668 , 601 . 25
Veterans Loan... 79,793.75 5,283,750.42
Bonds Paid:
Public School Building Bonds 498,000.00
Highway Construction Bonds 2,150,000.00 7,931,750-42
Permanent Improvements:
Appalachian Teachers College 21,535.03
Caswell Training School 8,552.43
Eastern Carolina Teachers College 82,705.53
Eastern Carolina Industrial School-- 7,336.50
Home Training School for Girls and Women. 1 1 , 024 .69
Industrial Farm Colony for Women 7,325.72
Inland Waterway 11,904.27
Morrison Training School 2,813.06
North Carolina College for Women 43,020.69
North Carolina College for Negroes 7,057.35
Negro A. & T. College 130,444.68
Elizabeth City Normal School 70.80
Cherokee Indian Normal School 13,298.18
North Carolina School for Deaf 3,629.97
North Carolina School for Deaf and Blind. 212,377.38
Orthopaedic Hospital 94.34
State A. & E. College 21,439.25
State Hospital, Goldsboro 703.42
State Hospital, Morganton 23,994.94
State Hospital, Raleigh 21,973.73
State's Prison 1,702.89
Stonewall Jackson Training School 13,541.37
Smoky Mountain Park 1,171,688.59
Tuberculosis Sanatorium 11,413.81
University of North Carolina 245,790.06
Western Carolina Teachers College 65,360.11
Winston-Salem Teachers College 21.37 2,140.820.16
State Warehouse System 41,347.48
Surplus Investment Account 1,013,157.16
World War Veterans Loans:
Bureau Maintenance 22,381.21
Loans made 118,010.00
Interest 85,639.94 226,031.15
Board of Education:
Literary Fund:
Loans for Building School Houses 271 ,000.00
Salaries and Expenses 10,578.13 281,578.13
18 Report of State Treasurer
Sinking Fund Investments:
Highway No. 1 —
$
239,205.69
Highway No. 2 1,154,291.69
Public School No. 3 28,041.49
Public School No. 4 15,659.34
Edu. and Char. Inst. No. 5 413,034.31
Edu. &Char. Inst.No.e.. 143,908.39
Edu. and Char. Inst. No. 7 117,255.92 $2,111,396.83
County Loan Fund No. 8 285,649.37 §2,397,046.20
State Public School Building Loans:
Re-loaned under Laws 1925 8,878.61
Interest - 215,650.00
Re-loaned under Laws 1927 148,240.79
Interest - 103,959.00
Refunds—Laws 1923 2,773.75
Refunds—Laws 1921 3,388.00 482,800.15
Fund Transfers to pay Interest and Note Curtail:
Cape Fear River Bridge 51,641.98
Chowan River Bridge- 25,433.41 77,075.39
Total Special Fund Disbursements S 43,942,727.16
Notes Paid and Renewed. 12,600,000.00
Cash Balance June 30, 1931 8,697,322.04
Total all DisbursementB.-.- -. $ 88,700,166.47
Report of State Treasurer 19
treasury department
consolidated statement
Receipts and Disbursements Fiscal Year Ending June 30, 1932
Receipts
Cash Balance July 1, 1931.— - - $ 8,697,322.04
General Fund:
Tax Revenue:
Schedule "A" Inheritance Tax.S 482,551.85
Schedule "B" License Tax 2,355,646.41
Schedule "C" Franchise Tax... 6,669.902.14
Schedule "D" Income Tax 7,259,404.51
Ad Valorem and Poll Tax 3,354,293.36
Miscellaneous .., 94,216.64
Non Tax Revenue 1,368,158.24 $21,584,173.15
Departments and Institutions 5,194,275.09 $26,778,448.24
Special Funds:
Tax Revenue 25,654,880.42
Non Tax Revenue 5,042,223.38 30,697,103.80
Debt Service Transfers. 9,124,384.86 39,821,488.66 $66,599,936.90
Bond Sales, Note Sales and Renewals 12,202,371.00
$ 87,499,629.04
Disbursements
General Fund:
Departments, Boards and Com-missions
S 1,987,182.72
Legislature 12,713.01
Judiciary 373,304.59
Pensions 961,162.50
Educational Institutions 5,373,518.27
Charitable Institutions 1,309,888.81
Correctional Institutions 1,437,349.80
Public Schools 17,007,183.94 28,462,303.64
Debt. Service 3,386,136.39
Refunds 364,900.40
Sinking Fund Contribution 266,720.00 32,480,060.43
Special Funds:
Departments 955,482.45
Highways 28,848.34
Permanent Improvements 477,574.67
Public School Loan Fund 110,226.47
Veterans Loan Fund 674,016.20
Sinking Fund Investments 1,102,479.62
Debt Service 8,700,146.25 40,868,885.00
Fund Transfers 2,121,900.37 42,990,785.37 75,470,845.80
Notes Paid and Renewed 3,800,000.00
Cash Balance June 30. 1932 8,228,784.14
$ 87,499,629.94
20 Report of State Treasurer
REPORT OF state TREASURER
Receipts for Fiscal Year Ending June 30, 1932
Cash Balance July 1, 1931.. - $ 8,697,322.04
General Funds:
Tax Revenue:
Blue Sky Taxes $ 8,820.38
Bus Tag Tax 161.50
Corporation Tax State Department 56,439.16
Fees:
Attorney General $ 260.00
Executive Department 6,192.00
Insurance Department 14,425.10
State Department 273.30 21,1.50.40
Seal Tax:
Governor's Office 6,670.75
State Department 100.00 6,770.75
Schedule "A" Inheritance Tax --- 482,551.85
Schedule "B" License Tax 2,3.55,646.41
Schedule "C" Franchise Tax 6,669,902.14
Schedule "C" Income Tax 7,2,59,404.51
State Public Schools:
Ad Valorem Tax 3,136,391.55
Dog Tax 43.54
Poll Tax 217,858.27 3,354,293.36
Penalties State Department 600.00
Trademark Registration. 274.45
Total General Fund Tax Revenue $20,216,014.91
Non Tax Revenue:
Board of Accountancy 76.83
Board of Heating and Plumbing Examiners... 649.55
Books, Sale of:
Laws and Journals 1,894.69
Supreme Court Reports 6,335.26 8,229.95
Railroad Dividends:
Atlantic & N. C. R. R 44,331 .00
North Carolina R. R --.. 210,014.00 254,345.00
Interest on Bank Balances 148,468.22
State Hospital, Morganton Rev. Receipt... 10,668.82
State Prison Revenue Receipts 212,323.10
Collected for General Fund from Special Fund:
Gasoline Inspection 647,302.28
Oil Inspection 86,094.49 733,396.77
Refunds:
Attorney General 115.50
Auditor's Department 2,536.50
Aycock Statute 22.68
Bond Sale Expense 2,568.60
Board of Charities and Public
Welfare 18.66
Budget Bureau 2,624.60
Contingency and Emergency
Fund 2,250.73
Report of State Treasurer 21
Division of Standards and In-spection
$ 96.50
Fugitives from Justice 67.65
Governor's Office.. 396.79
Governor's Mansion 50.30
Historical Commission 540.67
Industrial Rehabilitation 187.50
Local Government Commission 5 , 100 . 36
N. C. Corporation Commission 28.00
N. C. Library Commission 158.12
Pensions Disabled Soldiers 202.50
Public Buildings and Grounds. 17,330.34
State Library 244.05
Tax Commission 275.93 $ 34,815.
Total General Fund Non Tax Revenue. t 1,402,974.22
Departments and Institutions carried in General
Fund:
Appalachian Normal School 104,961.75
Board of Education 23,434.96
Caswell Training School 3,969.69
Cherokee Indian Normal School 6,410.14
Confederate Women's Home 61.99
Department Conservation and Development:
Fees. License and Miscellaneous 256,556.12
Division Coastal Fisheries 27 , 685 . 81 284 , 241 . 93
East Carolina Teachers College 191,184.70
East Carolina Training School. 50.88
Elizabeth City Normal SchooL... 23,684.47
Fayetteville Normal School 30,352.22
Home Industrial School for Girls 1,166.44
Industrial Farm Colony for Women 53.16
Insurance Department 22,558.86
Morrison Training School 280.34
Negro A. & T. CoUege 50,043.52
North Carohna Board of Health 71,946.08
N. C. A. & E. College:
Administration 497,911.20
Agricultural Extension 331,687.11 829,598.31
N. C. School for Blind, Raleigh 8,379.50
N. C. School for Deaf, Morganton 6,091 .05
N. C. College for Negroes 34,835.48
N.C. College for Women 603,119.02
N. C. Industrial Commission 24,660.00
Orthopaedic Hospital 1,372.24
Public Printing and Supplies 37,011.97
State Board of Education 2,990.00
State Public Schools 163,827.70
State Department of Revenue 40 , 040 . 00
State Hospital, Goldsboro 9,600.86
State Hospital, Morganton 1,135.27
State Hospital, Raleigh 39,705.21
State's Prison 640,097.06
Stonewall Jackson Training School 4,226.15
Treasury Department 9.89
University of North Carolina:
Administration 1,117,901.89
Service Plant 535,029.29 1,652,931.18
22 Report of State Treasurer
Tuberculosis Sanatorium:
Administration $ 144,382.96
Extension Work 262.69 $144,645.65
Vocational Education 4,095.00
Weights and Measures ., 550.00
Western Carolina Teachers College. 53,402.68
Winston-Salem Teachers College 42,733.76
Total Receipts Departments and Institutions $ 6,159,459.11
Total General Fund Including Departments and Institutions.. $ 26,778,448.24
Special Funds:
Tax Revenue:
Agricultural Department 279,028.66
Banking Department 56,366.83
Highway Funds:
Automobile License 5,602,592.30
Gasoline Tax. 15,172,639.72
Miscellaneous Receipts 2,565,087.28
Highway Construction... 1,813,009.15 25,153,328.45
Tolls Cape Fear River Bridge.. 94,500.05
Tolls Chowan River Bridge.... 71,656.43 166.156.48
Total Special Fund Tax Revenue 25,654,880.42
Non Tax Special Fund Revenue:
Bus Depository Account 5,805.00
Civil Engineers and Land Surveyors 2,304.00
Federal Funds:
Forest Reserve 4,753.91
N. C. A. & E- College .33, .500. 00
Negro A. & T. College... _ 16,500.00 54,753.91
Governor's Council of Unemployment:
Fund "A" 706.49
Fund "B" _-_. 3,102.51 3,809.00
Land Titles, Assurance of 54.75
Insurance Departn ent 37,456.81
Interest Accrued from Bond and Note Sales:
General Fund Notes 1,471.82
General Fund Bonds. 1,511.11
Veterans Loan Bonds 1,888.89 4,871.82
Motor Vehicle Bureau Refunds 219.50
Department of Education 75,757.22
N. C. Real Estate Commission. 3,403.00
N. C. State Fair 57, 698. .50
Pension Refunds Soldiers and Widows 4,450.00
Pension Recovery State vs. Gantt 60,100.00
Rodman Trust Fund. 1,766.70
Salary Refunds 579.96
Surplus Cash Investment 8,000.00
Sinking Funds:
Highway No. 1 456,431.73
Highway No. 2 322,846.68
Report of State Treasurer 23
Public School Building No. 3.. $ 94,039.38
Public School Building No. 4— 155,308.47
Education and Charitable No. 5 261,619.18
Education and Charitable No. 6 62,711.77
Education and Charitable No. 7 59,532.90
Public School Building No. 9.. 398,486.37
Chowan River Bridge No. 10-_ 94,812.93
Cape Fear River Bridge No. 11 84,665.88 $ 1,990,455.29
102,422.72
State Warehouse System 77,221.61
Building Funds, Fire Losses, etc.:
Appalachian Teachers College. 623.95
E. Carohna Teachers College.. 6,520.45
Fayetteville Normal School 25,490.08
Home Industrial Sch. for Girls. 31,250.00
Indus . Farm Colony for Women 150.00
Morrison Training School 265.00
Negro A. & T. College 7,249.51
N. C. Sch. for BHnd, Raleigh.. 486.02
State's Prison 5,000.00
Stonewall Jackson Train. Sch.. 4,123.71
Tuberculosis Sanatorium 1,659.13
University of N. C 3,384.85
W. Carolina Teachers College. 1,997.23 88,199.93
State Board of Education:
Loans for Bldg. School Houses. 277,497.32
Sale of Swamp Lands 547.00 278,044.32
Transfer for Motor Vehicle Bureau. 410,193.57
Public School Building Loans:
Payment Loans Laws 1921 421,435.05
Payment Loans Laws 1923 461,975.00
Payment Loans Laws 1925 472,211.57
Payment Loans Laws 1927 229,173.75 1,584,795.37
189,860.40
Total Non Tax Special Fund Receints 5,042,223.38
..$ 30,697,103.80
Debt Service Transfers:
Highway Interest 4,760,0.52.50
22,312.50
Cape Fear River Bridge Interest-. 53,125.00
21.25
Public School Building Interest... 685,762.50
103,111.11
2,700,000.00
Chowan River Bridge Bond Redemption 50,000.00
Public School Bond Redemption. 750,000.00 9,124,384.86
Bond Sales:
500,000.00
State's Prison Bonds- 400,000.00 900,000.00
. 11,302,371.00
Total all Receipts .$ 87,499,629.94
24 Repokt of State Treasuber
DiSBDRSEMEXTS FOR FiSCAL Year Ending Jcne 30, 1932
General Fund Disbursements:
Administrative Departments, Boards and Commissions:
Aycock Statue I 12,772.68
Board of Elections 5,935.74
Board of Charities and Public Welfare:
Administration, $ 49,431.47
Mothers' Aid 43,351.50 92,782.97
Budget Bureau
Bureau of Labor and Printing
Child Welfare Commission
Commission on University Consolidation
Conservation and Development:
Administration 306,884.43
Division of Coastal Fisheries. 45, 913 .29
28 925.48
16.45
680.01
9 356.37
352 797.74
Constitutional Commission 2 495.43
Department of Labor:
Administration 25,060.35
Division Standards and In-spection
20,440.20
N.C. Industrial Commission. 63,966.32 109,466.87
Division of Purcha.se and Contract 22,555.90
Division of Personnel 12,234.13
Gasoline and Oil Inspection 57,139.65
Historical Commission 24,475.94
Insurance Department 97,056.23
Local Government Commission 45,758.41
Fire Protection Smoky Mountain Park 1,183.17
National Guard 78,402.53
N. C. Board of Health:
Administration 334,948.70
Orthopaedic Clinics 6,000.00 340,948.70
N. C. Library Commission 14,719.94
N.C. Corporation Commission:
Administration 46,766.13
Special Rate Work 291.66 47,057.79
Public Buildings and Grounds:
Capitol and Caswell Squares. 97,514.21
Gov.'s Mansion and Grounds 9,697.14 107,211.35
Public Printing and Cooperative Supplies 24,006.58
Revenue Department 208,718.88
State Library 6,469.57
Tax Commission 18,872.05
Transportation Advisory Commission 127.30
Weights and Measures 4,925.64 $ 1,727,093.50
Contingency and Emergency:
Debt Service Expense 5,222.92
Funeral Expense 30.70
National Guard Special Deputy 536.28 5,789.90
Report of State Treasurer 25
Executive Departments:
Auditor's Department $ 37,413.17
Attorney General - 17,737.33
Department of Education 111,529.87
Executive Council. 7,760.82
Governor's Office 25,191.25
State Department.. 17,837.57
Treasury Department 29,648.44 S 247,118.45
Judiciary:
Supreme and Superior Coiirts 361,834.72
Supreme Court Reports 11,469.87 373,304.59
Legislature:.
General Assembly 12,713.01
Pensions:
Soldiers and Widows 950,460.00
Inmates Soldiers Home 330.00
Disabled Soldiers 8, 272. .50
W. T. Reaves-. 900.00
I. C. Blair 600.00
Olivia B. Grimes 600.00 961,162.50
State Aid and Subsidies:
Bennett Memorial 50.00
Bishop, Claude H., Relief of 96.00
Confederate Cemetery. 500.00
Confederate Museum 250.00
Firemen's Relief Fund:
Volunteers Association, White. 1,875.00
Volunteers Association, Colored 625.00 2,500.00
Fugitives from Justice.
Tubercular Cattle
1,990.17
1,794.70
Debt Service:
Bond Redemption:
iH% Debit Balance Bonds.. 1,000,000.00
4% Funding Bonds... 100,000.00
Old Bonds 150.00
Interest
:
4% Bonds 440,908.00
4M% Bonds. 426,123.75
4^2% Bonds 520,785.00
iH% Bonds 359,527.50
5% Bonds 393.362.50
Short Term Notes 145,279.64
1,100,150.00
7,180.87
2,285,986.39 3,386,136.39
Educational, Charitable and Correctional Institutions:
Educational:
Appalachian Normal School. 146,143.37
Cherokee Indian Normal Sch. 21 , 957 .47
E.Caro. Teachers College 316,762.33
N. C. College for Women 868,803.49
N. C. School for Deaf 111,027.55
N. C. School for Blind 107,662.09
N. C. College for Negroes... 62,934.89
Negro A. & T. College 86,862.02
26 Report of State Treasurer
Normal School, Fayetteville. S 54,905.02
Normal Sch , Elizabeth City. 41,685.74
State College of A. & E 1,149,085.73
University of N. C 2,232,525.55
W. Caro. Teachers College.- 94,088.70
Winston-Salem Teachers. CoL 79,074.32 $5,373,518.27
Public Schools:
Equalizing Fund 8,751.27
Rural Libraries 950.00
Six Month Term 15,868,456.41
Tax Reduction 1,012,627.14
Teacher Training 380.00
Vocational Education, Indus-trial
Rehabili tat i on 9 , 093 . ] 5
Vocational Education 106,925.97 17,007,183.94
Charitable Institutions:
Caswell Training School 107,930.78
Confederate Women's Home. 11,067.58
Orthopaedic Hospital 81,266.42
Oxford Orphanage, White.... 26,625.00
Oxford Orphanage, Colored.. 24,405.99
Soldiers' Home... 26,001.14
State Hospital, Goldsboro... 179,233.16
State Hospital, Morganton .. 280,257.91
State Hospital, Raleigh. 327,961.24
Tuberculosis Sanatorium.-.. 245,139.59 1,309,888.81
Correctional Institutions:
E. Caro. Train. Sch. for Boys 26.864.33
Efland School for Women 1,8-50.00
Home Training Sch. for Girls 81,.547. 03
Industrial Farm Colony for
Women 13,770.57
Morrison Training School...- 24,593.83
Stonewall Jackson Train . Sch
92 , 382 . 17
State's Prison.. 1,196,341.87 1,437,349.80
Total Educational, Charitable and Correctional- -- $ 25,127,940.82
Refunds:
Revenue Department:
Imprest Fund 5,000.00
Inheritance Tax Schedule "A" 55,095.15
License Tax Schedule "B"... 37,330.23
Franchise Tax Schedule "C" 12,401.83
Income Tax Schedule "D".. 100,732.93 210,560.14
State Department:
Corporation Tax 899.18
Executive Department:
Fees 2.50
Seals . 2.50 5.00
Blue Sky Tax 30.00
Bus Tag Tax 2.50
Insurance Department Fees 34.00
Report of State Treasurer 27
State Public Schools:
Ad Valorem Tax $ 65,635.60
Dog Tax 43.54
Poll Tax 86,134.42 $151,813.56
Interest on Bank Balances 1,556.02 $364,900.40
Sinking Fund Contribution 266,720.00
Total General Fund Disbursements, Including Institutions, Departments and
Commissions - $ 32,480,060.43
Special Fund Disbursements:
Agricultural Department:
Administration 319,170.59
Weights and Measures 100.00 319,270.59
Automobile Funds:
Maintenance and Construction. 28,491,173.89
Motor Vehicle Bureau 357,785.45 28,848,959.34
Banking Department 61,869.65
Bus Depository Account 3,541.85
Civil Engineers and Land Surveyors 2,393.40
Department of Education : 65,185.53
Governor's Council of Unemployment:
Fund "A" — 706.49
Fund "B" 3,099.53 3,806.02
Insurance Department 45,017.15
N. C. Real Estate Commission.. 4,377.82
N. C. State Fair.... 62,225.07
Pension Investigation State vs. Gantt 2,867.23
Rodman Trust Fund. 1,560.00
Rosenwald Negro Welfare Fund.... 78.06 29,421,151.71
Federal Funds:
Forest Reserve Fund 4,753.91
Negro A. & T. College 16,500.00
State A. & E. College 33,500.00 54,753.91
Rockefeller Fund School Attendance 138.70
State Warehouse System 88,432.29
Surplus Cash Investment 8,624.59 97,195.58
Interest and Bond Curtail:
Interest:
Highway Bonds 4,811,518.75
Cape Fear River Bridge Bonds 52 , 190 .00
Chowan River Bridge Bonds. 23,396.25
Public School Bonds 702,710.00
Veterans Loan Bonds 96,731.25 5,686,546.25
Bonds Paid:
Public School Building Bonds. 752,000.00
Highway Bonds 2,211,600.00
Chowan River Bridge Bonds... 50,000.00 3,013,600.00 8,700.146.25
28 Report of State Treasurer
Permanent Improvements:
Appalachian Teachers College. $ 27,086.89
Caswell Training School 10,510.40
Cherokee Indian Normal School 727.07
East Carolina Teachers College 10,690.47
East Carolina Training School 4,481.10
Home Training School for Girls 79,370.73
Industrial Farm Colony for Women 150.00
Inland Waterways 9,096.91
Morrison Training School 377.00
Negro A. & T. College 7,987.14
Negro Normal School, Fayetteville 44,916.46
N. C. A. & E. College 2,724.83
N. C. School for Blind, Raleigh 19,273.96
N. C. School for Deaf, Morganton 11,500.00
N. C. College for Negroes — 271.83
Orthopaedic Hospital 3,351.52
State Hospital, Morganton 355.05
State Hospital, Raleigh 49,877.52
State's Prison 12,035.99
Stonewall Jackson Training School 5,453.00
Smoky Mountain Park 14,338.66
University of North Carolina 162,998.14 $ 477,574.67
World War Veterans Loan Fund:
Bureau Maintenance 28,955.09
Loans made 541,950.00
Interest - 103,111.11 674,016.20
Board of Education:
Literary Fund:
Loans for Building School Houses 223,565.20
Salaries and Expenses. 7,775.39 231,340.59
Sinking Fund Investments:
Highway No. 1 1,266.28
Highway No. 2 45,953.75
Public School No. 3 39,980.12
Public School No. 4 70,916.64
Edu. and Char. Inst. No. 5.... 171,412.18
Edu. and Char. Inst. No. 6 46,450.00
Edu. and Char. Inst. No. 7.... 42,731.89
Public School No. 9 .— 358,160.22
Chowan River Bridge No. 10.. 91,212.93
Cape Fear River Bridge No, 11. 81,409.62 949,493.63
County Loan Trust Fund No. 8 152,985.99 1,102,479.62
Public School Special Building Fund:
Re-loaned under Laws 1927 86,785.35
Refunds—Laws 1921 4,485.05
Refunds—Laws 1923 3,850.00
Refunds—Laws 1925 6,630.63
Refunds—Laws 1927 8,475.44 110.226.47
Total Special Fund Disbursements $ 40,868,885.00
Report of State Treasurer 29
Fund Transfers:
Cape Fear River Bridge Tolls $ 136,148.22
Chowan River Bridge Tolls - - 163,525.43
Public School Special Building for Bonds 750,000.00
Public School Special Building for Interest 685,762.50
Public School Special Building for Sinking Fund 386,464.22 $ 2,121,900.37
Notes Paid and Renewed - 3,800,000.00
Cash Balance June 30, 1932.... 8,228,784.14
Total all Disbursements- .J 87,499,629.94
30 Report of State Treasurer
ALPHABETICALLY ARRANGED COMPARATIVE FUND STATEMENT
Receipts and Disbursements for Fiscal Years Ending June 30, 1928, 1929, 1930,
AND A Five Year Comparison mat be had by Referring to Itemized Receipts
AND Disbursements for Fiscal Years Ending June 30, 1931, and 1932
Receipts
General Fund: 1928 1929 1930
Tax Revenue:
• Blue Sky Tax (Capital issue) .$ 12,069.75
Corporation Tax State Department 111,222.37
Fees:
Attorney General. 1,029.25
Governor's Office... 7,734.00
Insurance Department 14,913.45
State Department 732.80
Income Tax: 8,196,049.83
Inheritance Tax 710,636.56
Interest on Bank Balances 566,595.18
Schedule "B" Miscellaneous Licenses. 1,690,539.74
Schedule "C" Franchise, etc 3,382,249.70
Trade Mark Registration. 105.51
Penalties, State Department 1,680.00
Bus Tags .- 384.50
Building and Loan 17,425.07
Seal Tax, Governor's Office 8,241.00
Seal Tax, State Departi. ent 174.00
Non Tax Revenue:
Atlantic & N. C. R. R. Dividends 47,497.50
N. C. R. R. Dividends 210,014.00
Civil War Claim Settlement
Laws and Journals, Sale of 3,122.65
Supreme Court Reports, Sale of 8,554.26
Gasoline and Oil Inspection Transfers 747,690.25
Revenue Department from Highway Funds
Board of Elections 2,100.00
Indigent Pupils 2,676.74
Incendiary Fire Fund 405.60
Public Printing 70,746.92 62,219.73
Refunds:
Attorney General 901.68
Auditor's Department 2,803.30
Board of Education 2,000.00
Bond Sale Expense 24,721.13
Board of Charities and Welfare
Budget Bureau
Central Telephone Exchange 4,276.25
Contingencies
Child Welfare Commission 9.10
Department of Conservation... 180.43
Fugitives from Justice 177.63
Fire Prevention 223.25
Governor's Mansion 61.40
Historical Commission
Indigent Pupils
Insurance Department 73.28
Legislature
Motor Vehicle Bureau 1,714.97
National Guard 55,790.80
N. C. Corporation Commission. 225.90
10,002.32 $ 16,382.68
163,691.24 193,167.26
404.70 189.25
7,408.75 7,244.75
16,547.25 18,561.15
1,389.60 398.40
7,686,280.43 7,290,909.28
1,016,927.28 1,385,525.45
418,203.94 239,635.57
1,508,393.80 1,793,204.95
3,691,088.34 4,874,602.67
186.00 345.10
1,340.00 2,390.00
164.50 157.50
40,998.62
8,076.25 7,851.25
538.60 150.50
44,331.00 44,331.00
210,014.00 210.014.00
118,035.69
3,053.83 1,934.98
6,844.15 4,589.08
701,873.85 707,235.79
40,000.00 40,000.00
3,420.00
900.00 184.20
2,633.75 7,730.00
5,056.91 3,277.08
1,169.17 9,030.74
46.67 210.00
625.00 4,329.50
1,668.57 6,958.65
65.00
154.03 15.00
350.00
67.27 746.25
437.76 431.94
1,124.29 330.41
1,021.43 17,873.65
60.00
2,713.47
483.35 38,556.85
30.60 182.54
Report of State Treasurer 31
N. C. Board of Health— $ 501.21
Negro A. & T. College 89.61
Pensions 1,545.00
Public Building and Grounds. _-. _. 14,667.04
Public Schools
Reveiiue Department
State Department 9.12
Supreme Court
State Hospital, Goldsboro.. ._ 50.24
Tax Commission
Treasury Department 4.10
Tubercular Cattle
Vocational Education 8,342.27
Watts, A. D., Relief of
Departments and Institutions carried in General Fund:
Appalachian Teachers College 82,044.09
Board Charities and Welfare 241.70
Confederate Women's Home
Caswell Training School 5,265.05
Cherokee Indian Normal School 6,236.99
Conservation and Development 336,473.32
Department of Education 11,625.84
East Carohna Teachers College 199,768.73
East Carohna Industrial School 180.00
Elizabeth City Normal School 44,939.00
Fayetteville Normal School 42,252.76
Industrial Farm Colony for Women
Industrial School for Women and GirLs 2,421.42
Laboratory of Hygiene 34,878.17
Morrison Training School .- 2,225.41
N. C. College for Women 736,037.05
Negro A. & T. College 89,651.20
N. C. College A & E 565,441.77
N. C. School for the Deaf 5,616.46
N. C. School for Deaf and Blind. 14,402.44
N. C. College for Negroes 32,039.29
N. C. Board of Health 14,964.36
N. C. Library Commission 245.26
N. C. Historical Commission 508.49
N. C. Industrial Commission
Orthopaedic Hospital 2,072.50
State Library 158.43
State Hospital, Goldsboro 9,384.70
State Hospital, Morganton 17,576.70
State Hospital, Raleigh 40,574.49
Soldiers' Home 100.00
State's Prison 706,301.28
Stonewall Jackson Training School. 8,865.56
Tuberculosis Sanatorium 123,717.53
University of North Carolina 564,888.54
Vocational Education 990.00
Western Carolina Teachers College 73,193.04
Winston-Salem Teachers College 42,441.80
Special Funds:
Agricultural Department;
Gasoline and Oil Inspection 711,175.19 767,255.34 66,618.55
Fertilizer and Miscellaneous 495,131.30 495,247.21 440,341.21
$ 13,325.45 .$ 300.00
17,384.15
153.25 4,105.00
9.90
117.73
178.89
400.00
671.67
4.17
5,474.65 467.25
869.28
78,931.02 86,5.59.87
2,000.00
7,889.90 5,722.04
8,131.01 6,385.70
449,140.68 452,970.49
242,998.48 239,320.20
270.02 125.00
36,700.75 38,186.34
44,597.69 38,465.74
78.32
783.24 2,247.50
30,993.54 23,815.51
1,794.47 964.57
753,328.93 747,113.27
75,449.15 81,718.19
531,275.58 772,694.20
8,392.14 9,795.53
19,923.27 15,012.42
33,731.40 30,689.97
32,664.26 45,989.64
538.50 640.47
14,577.03
2,783.88 2,672.63
368.83 322.70
12.991.65 17,173.82
19,065.45 11,050.33
39,408.24 49,854.96
740,632.36 803,756.76
6,794.14 6,153.86
138,372.55 161,339.68
525,058.74 1,458,477.03
1,384.50 1,491.61
71,140.03 71,341.90
45,954.12 54,341.12
32 Report of State Treasurer
Highway Funds:
Automobile Licenses $8,370,284.88 $7,016,781.88 $ 7,059,360.34
Gasoline Tax 9,678,518.83 10,722,187.90 13,506,985.88
Tolls Chowan River Bridge - 50,701.66 65,096.16 78,139.60
Tolls Cape Fear River Bridge 48,743.08
Interest accrued in Bond Sale... 87,440.63 64,885.45
Miscellaneous Highway Commission 2,607,741.21
Bank Examination Fees 58,929.81 55,081.10 55,574.67
Bus Deposits 5,101.00 1,800.00 4,711.50
Building Fund, Fire Loss, etc 40,033.33 86,206.37 141,077.57
Board of Education (Literary Fund) 293,492.81 300,487.39 308,664.15
Civil Engineers and Land Surveyors- 3,688.00 3,849.75 3,298.10
County Loan Highway Fund 852,680.26 399,552.09 446,715.36
Debt Service Transfers 5.706,388.80 6,766,804.56 7,393,624.62
Emergency Loan ..- 47,227.25
Federal Funds 43,530.86 88,601.99 57,654.80
Insurance Department 170,634.04 158,316.74 46,728.64
Land Titles, Assurance of 140.04 52.72 54.35
N. C. Real Estate Commission... 5,455.00 8,747.25 6,755.00
N. C. State Fair . 200,000.00 37,613.99 128,511.86
N. C. Board of Health, M. and I — 22,260.00
Xotes, Resale Highway 4,250,000.00
Public School Building Loans.. 1,434,266.27 1,578,816.27 1,553,480.31
Rodman Scholarship Foundation ..- 1,873.24 1,708.01
Rosenwald Negro Welfare Foundation.. 2,850.43 5,453.68
Rockefeller Funds 19,177.00 18,056.19 5,700.25
Sinking Funds 462,213.47 1,010,321.06 2, 222, .570. 74
State's Prison, Debt, Amortization 949.14
State Warehouse System 98,537.89 42,086.51 58,209.48
World War Veterans Loan 2,125,194.18 267,887.92 238,843.10
Weights and Measures 4,616.00
Bond Sales 17,100,000.00 8,970,000.00
Note Sales and Renewals 5,600,000.00 18,700,000.00 13,600,000.00
Total Receipts .$77,661,573.35 $68,311,852.51 $ 81,399,762.83
Disbursements
General Fund:
Auditor's Department ._ ..$ 47,668.72 $ 52,172.54 $ 54,687.84
Attorney General- 19,389.83 30,911.46 19,424.20
Appalachian Teachers College 136,932.88 142,944.75 153,859.58
Board of Elections ^ 8,952.00 8,670.86 10,091.71
Board of Charities and Welfare 112,184.50 121,293.57 107,046.99
Budget Bureau 29,274.21 39,795.99 33,506.46
Bureau of Labor and Printing 35,451.43 33,481.69 33,460.04
Bond Redemption 1,026,360.00 1,100,400.00 1,107,900.00
Contingency and Emergency 959.00 80,429.26 67,012.88
County Advisory Commission 18,054.92 14,407.48 19,184.19
Con.servation and Development 387,291.44 606,187.54 572,680.33
Cherokee Indian Normal School 34,793.91 36,627.01 32,163.15
Caswell Training School 138,172.76 158,673.25 157,905.33
Confederate Women's Home 13,375.00 14,160.00 15,480.00
Debt Service 1,593,134.74 1,882,119.24 2,159,787.62
Department of Education 163,077.40 129,182.66 126,860.60
Executive Council 6,917.67 7,962.87 11,142.84
East Carolina Teachers College 352,696.62 429,456.50 439,623.71
East Carolina School for Boys 17,214.99 25,484.37 28,540.79
Efland School for Women 1,500.00 2,500.00 2,000.00
Farm Colony for W'omen 17,744.35 13,476.65
Fire Protection Smoky Mountain Park 3,209.26
Repokt of State Treasurer 33
Governor's Office :-._ --$ 17,933.52 $ 19,473.81 $ 18,920.28
Historical Commission 30,641.79 34,072.52 36,142.-33
Instance Department 113,424.27 112,290.19 113,300.03
Judiciary 377,438.75 379,874.78 382,244.41
Legislature 1,211.26 174,089.50 16,708.68
Morrison Training School 20,026.67 28,008.70 26,828.39
National Guard 228,303.57 143,237.43 220,124.50
N. C. and S. C. Boundary Commission 6,008.53
N. C. Park Commission... 3,000.00 1,987.75 1,012.25
N. C. Board of Health 465,493.71 484,930.99 525,666.07
N. C. Library Commission 25,337.76 25,446.99 22,998.07
N. C. Industrial Commission 16,905.30 97,970.59
N. C. Corporation Commission 85,562.33 83,668.89 105,352.48
N. C. College for Women 1,192,285.25 1,211,812.39 1,150,077.82
N. C. School for Deaf 140,683.90 144,345.05 144,871.51
N. C. School for Deaf and Blind 157,350.15 163,344.43 156,034.39
N. C. College for Negroes 64,240.49 76,832.26 74,398.89
Negro A. & T. College 161,667.70 139,716.94 139,787.07
Normal School, Fayetteville 76,751.71 79,002.29 70,768.39
Normal School, Elizabeth City 84,150.08 70,594.95 73,737.21
Orthopaedic Hospital 84,739.75 111,776.24 112,122.35
Oxford Orphanage, White 30,000.00 30,000.00 30,000.00
Oxford Orphanage, Colored- 25,000.00 25,000.00 27, .500. 00
Presidential Electors 363.40
Public Buildings and Grounds 133,422.47 150,169.05 157,268.05
Printing (subject to departmental charge) 112,383.44 10,423.21 81,918.69
Pensions 1,406,682.00 1,310,965.00 1,129,025.00
Public Schools 3,542,704.30 3,657,339.10 6,519,069.68
Revenue Department 192,841.89 212,468.35 237,379.91
Refunds 55,863.73 208,672.26 272,878.44
Salary and Wage Commission 3,209.94 3,386.80 3,168.17
State Library 11,525.81 13,870.24 11,394.09
State Department 23,994.42 24,070.63 23,844.66
State Aid and Subsidies 31,536.58 31,950.82 51,627.63
State College A. &E 1,096,557.90 1,176,901.47 1,349,913.80
Soldiers' Home 51,086.23 44,795.42 38,683.42
State Hospital, Goldsboro 256,468.76 255,003.22 254,146.85
State Hospital, Morganton 444,220.17 422,679.72 401,562.44
State Hospital, Raleigh 416,728.33 421,039.18 409,776.28
Stonewall Jackson Training School 149,581.05 152,730.96 136,578.03
State's Prison 549,364.94 764,326.06 1,130,981.70
Sinking Fund Contribution 214,250.00 214,250.00 266.720.00
Treasury Department 35,729.14 34,238.03 32,1,58.99
Teachers College, Winston- Salem 91,365.44 91,891.08 103,900.61
Tuberculosis Sanatorium 251,789.11 285,038.09 313,106.99
Training School for Girls 95,762.64 101,813.25 98,922.74
Transportation Commission 11,439.33 14,279.16 3.099.85
Tax Commission 18,124.66 33,621.66 11,708.03
University of North Carolina 1,393,159.02 1,475,703.72 2,279,347.79
AVestern Carolina Teachers College 124,330.74 129,394.22 1.30,188.90
Special Fund:
Audubon Society 495.50
Agricultural Dept. Miscellaneous Inspection Taxes 455,855.63 462,488.09 439,738.75
Agricultural Dept. Gasoline and Oil Inspection... 66,972.94 65,381.49 66,618.55
Automobile Fund Highway Maintenance 10,278,437.82 25,564,620.00 24,049,623.26
Automobile Fund Motor Vehicle Bureau 530,973.52 451,416.26 472,353.88
Automobile Fund Highway Construction 16,947,676.13 1,640,000.00 2,726,195.63
Automobile Fund Building 2,833.62
Appalachian Teachers College 21,376.24 106,932.89 17,755.38
Bank Examination 51,336.62 49,086.01 .52,482.20
34 Report op State Treasurer
Board of Health M. and I $ 22,001.18 $ 24,617.23 $ 5,480.07
Board of Education (Literary Fund) - 277,510.73 309,744.07 317,608.00
Bus Depository 8,100.00 6,730.59 5,650.03
Civil Engineers and Land Surveyors...- 3,975.90 5,082.21 3,482.15
Caswell Training School - 87,793.07 39,036.98 43,658.80
Cherokee Indian Normal 174.11 4,962.90
Confederate Women's Home.. 3,309.26
County Highway Loan Fund 448,861.37 366,267.04 732,654.30
Debt Service, Interest 5,216,316.38 5,406,045.49 6,117,014.92
Debt Service, Bond Redemption.... 250,000.00 250,000.00 2,850,000.00
Eastern Carolina Teachers College 321,169.03 83,397.59 190,988.25
Eastern Carolina Industrial School... 62,737.22 32,404.70 92,090.33
Elizabeth City Normal School 16,987.45 2,716.76 5,955.62
Federal Funds.... 80,670.83 87,556.22 63,945.49
Fayetteville Normal School 19,716.13 238.75
Fund Transfer to General Fund 828,543.92 701,873.85 522,828.42
Insurance Department 116,239.23 137,230.63 144,329.10
Industrial Farm Colony for Women 5,507.81 54,491.19 31,298.46
Inland Waterway 19,254.62 18,776.66 6,178.93
Morrison Training School 51,462.69 8,550.83 29,301.25
N. C. Real Estate Commission 6,268.60 6,556.55 8,187.65
N.C. College for Women 453,556.87 290,251.77 60,629.74
N. C. College for Negroes 10.91 84,910.82 234,609.36
N. C. State Fair 27,212.62 24,139.00 141,693.83
N. C. School for Deaf 77,092.15 1,003.22 48,945.25
N. C. School for Blind and Deaf 256.65 105.00 67,074.73
Notes Paid and Renewed 15,750,000.00 12,700,000.00 16,100,000.00
Negro A. & T. College 34,263.98 4,497.68 38,563.07
Orthopaedic Hospital 119,638.97 63,055.22 4,037.72
Public Buildings and Grounds 72,623.19 8,651.22
Public School Building Loans 2,780,751.16 969,723.86 429,762.55
Rockefeller Funds 17,924.88 19,545.00 6,235.89
Rosenwald Negro Welfare Fund 501.57 4,657.15
Rodman Trust Fund 1,407.12 1,499.17 1,748.75
State Fair 195,016.96
State A. &E. College 349,739.15 199,827.71 74,243.89
State Hospital, Goldsboro 174,414.65 3,991.00 123,315.45
State Hospital, Morganton 89,720.80 10,585.77 20,450.69
State Hospital, Raleigh 64,111.68 2,292.73 185,550.06
State's Prison 49,637.09 15,332.08 8,205.95
StonewallJackson Training School 30,294.94 385.29 21,869.60
Smoky Mountain Park 237,639.59 576,973.16
State Warehouse System 143,317.02 44,534.25 41,797.08
Sinking Funds Investments 403,609.38 539,846.61 2,695,532.47
Training School for Girls and Women 64,080.04 9,156.27 37,390.81
Tuberculosis Sanatorium 129,0.58.35 98,832.70 29,503.52
University of North Carolina 439,563.72 607,108.48 281,201.07
World War Veterans Loan 1,874,201.97 402,628.83 142,834.41
Western Carohna Teachers College .53,300.00 4,665.14 120.2.56.36
Winston-Salem Teachers College 38,706.43 17,143.64 1,310.82
Weights and Measures. 4,257.98
Total Disbursements 177,680.509.15 S72,179,831.34 .$ 84,667,014.30
Report of State Treasurer 35
Public School Btjilding Loans from proceeds bond issues secured by twenty-payment
NOTES to be applied TO PAYING BONDS AS THEY BECOME DUE
Counties Laws 1921 Laws 1923 Laws 1925 Laws 1927 Total
Alamance $ 33,000 ? 30,000 $ 44,250 $ 61,600 $ 168,850
Alexander - 13,750 24,000 48,750 86,500
Alleghany 14,125 720 14,845
Anson- 26,210 36,600 39,900 20,250 122,960
Ashe. 2,100 2,100
Avery 37,000 6,000 43,000
Beaufort 31,125 42, ,500 73,625
Bertie 30,625 7,200 73,500 34,000 145,325
Bladen.-.. 39,600 7,500 28,000 62,222 137,322
Brunswick ' 8,900 9,900
Buncombe 62,500 40,800 70,000 28,000 201,300
Burke 25,850 25,200 50,400 35,200 136,650
Cabarrus 11,000 54,000 120,850 185,850
Caldwell 26,000 36,000 45,850 48,200 156,050
Camden... 8,250 10,500 16,000 34,750
Carteret 18,395 2,160 61,053 81,608
CaswelL.. 16,550 17,400 42,000 27,500 103,450
Catawba 37,250 47,400 40,600 48,000 173,250
Chatham 26,070 17,400 4,550 42,950 90,970
Cherokee 16,500 24,050 40,800 81,350
Chowan
Clay. 10,350 11,700 21,250 43,300
Cleveland 35,350 46,200 80,600 85,000 247,150
Columbus 15,950 11,400 111,000 23,750 162,100
Craven. 39,750 68,250 33,750 141,750
Cumberland 36,650 34,124 48,000 4,250 123,024
Currituck 13,800 20,400 34,200
Dare 5,675 1,200 2,800 9,675
Davidson 35,100 34,080 93,400 24,000 186,580
Davie 27,500 32,400 16,100 76,000
Duplin 20,350 50,400 106,750 44,000 221,500
Durham 45,250 33,000 63,000 35,600 176,850
Edgecombe 44,350 45,000 43,400 40,000 172,750
Forsyth 33,000 84,000 117,000
Franklin 30,800 60,000 67,719 53,550 212,065
Gaston 49,650 68,400 108,500 16,000 242,550
Gates 12,100 26,400 30,800 17,375 86,675
Graham 44,000 44,000
Granville 34,150 60,000 94,150
Greene 48,000 10,400 70,750 37,550 166,700
Guilford. 74,500 99,000 108,500 40,000 322,000
Halifax 42,200 70,200 63,000 41,251 216,651
Harnett 32,450 72,000 97,250 72,000 273,700
Haywood 24,750 24,000 40,050 88,800
Henderson 19,500 45,500 56,000 54,000 175,000
Hertford 5,500 1,800 27,150 52,800 87,250
Hoke 15,400 8,400 16,000 39,800
Hyde 9,350 15,000 24,350
Iredell 39,000 16,800 91,000 48,000 194,800
Jackson 23,375 32,400 28,000 21,884 105,659
Johnston 55,000 102,000 157,000
Jones 30,800 15,000 45,800
Lee 2,475 9,840 91,600 103,915
Lenoir 24,750 54,000 87,500 53,600 219,850
Lincoln 24,000 44,400 52,500 24,000 144,900
Macon 16,800 16,800
Madison 13,750 54,000 66,500 31,875 166,125
Martin-. 21,250 51,600 24,500 40,000 137,350
36 Report of State Treasurer
McDowell
Mecklenburg-.
Mitchell
Montgomery..
Moore
Nash
New Hanover
Northampton.
Onslow
Orange
Pamlico
Pasquotank...
Pender
Perqiiimans...
Person
Pitt
Polk-
Randolph
Richmond
Robeson
Rockingham..
Rowan
Rutherford
Sampson
Scotland
Stanly
Stokes
Surry
Swain
Transylvania-
Tyrrell
Union
Vance
Wake
Warren
Washington...
Watauga
Wayne
Wilkes
Wilson
Yadkin
Yancey
$ 20,900 $ 9,600 i 52,500 $ 28,000 $ 111.000
74,800 66,600 145,500 44,000 330,900
20,350 16,200 32,200 68,750
32,700 42,000 42,000 8,000 124,700
21,550 33,000 35,000 44,000 133,550
62,700 42,000 44,000 72,600 221,300
26,600 36,000 77,500 140,100
18,425 9,300 19,600 60,000 107,325
17,600 30,000 102,000 28,500 178,100
25,350 34,800 23,100 83,250
29,250 18,000 18,900 66,150
24,200 21,000 67,500 10,200 122,900
40,800 37,500 78,300
12,800 29,900 17,250 59,950
19,600 34,500 22,400 21,112 97,612
43,150 48,000 101,000 22,000 214,150
11,000 26,000 57,000 4,500 98,500
33,600 48,000 46,900 28,000 156,500
27,850 25,200 52,500 105,550
58,900 40.500 76,000 175,400
49,500 54,000 36,000 139,500
48,400 54,000 56,000 52,000 210,400
36,650 34,500 109,000 53,500 233,650
15,000 62,550 25,200 102,750
33,550 40,800 4,250 78,600
33,600 36,600 49,000 40,000 159,200
29,250 7,500 44,400 81 , 150
42,000 50,375 99,450 45,900 237,725
13,750 24,000 7,000 18,450 63,200
13,000 28,000 36,000 77,000
4,400 14,000 18,400
42,500 6,120 69,250 68,000 185,870
24,200 26,400 49,000 99,600
72,000 57,780 182,000 62,400 374,180
26,700 27,000 21,000 74,700
27,500 27,500
15,500 28,800 12,600 56,900
41,750 51,000 66,800 9,000 168,550
37,400 38,400 42,086 117,886
52,250 42,000 51,800 29,600 175,650
18,150 23,100 41,250
20,075 35,000 80,075
S 2,745,075 S 3,026,199 $ 4,368,358 $ 2,440,519 $ 12,605,151
Report of State Treasurer 37
LOANS OUTSTANDING FOR BUILDING SCHOOL HOUSES
Literary Ftjnd Board of Education June 30, 1932
Alamance S 34,400
Alexander 10,250
Alleghany 1,750
Anson 17,700
Ashe- 2,000
Avery 18,000
Beaufort - 19,750
Bertie - 48,450
Bladen .- 27,150
Briinswick 10,500
Buncombe. 20,350
Burke 7,500
Cabarrus 12,500
CaldwelL 41,200
Camden
Carteret 45,000
Caswell 28,100
Catawba 14,300
Chatham 1,600
Cherokee 7,400
Chowan 26,500
Clay 1,380
Cleveland 11,200
Columbus 400
Craven 14,600
Cumberland 20,800
Currituck
Dare 11,560
Davidson 26,140
Davie 400
Duplin 2,600
Durham 700
Edgecombe 1,850
Forsyth
FrankUn 30,000
Gaston 14,650
Gates 18,130
Graham 1,800
Granville 19,500
Greene 10,650
Guilford 13,500
Hahfax 28,000
Harnett 37,945
Haywood 7,200
Henderson 13,000
Hertford 1,460
Hoke 8,710
Hyde 10,210
Iredell. 23,810
Jackson 15,250
Johnston 12,500
Jones 2,500
Lee
Lenoir.. 33,325
Lincoln... 2,050
Macon 2,675
Madison 70,500
Martin 34,640
38 Report of State Treasurer
McDowell $ 15,800
Mecklenburg 34,290
Mitchell... - 8,250
Montgomery 26,050
Moore 19,450
Nash -.- 2,000
New Hanover
Northampton 23,300
Onslow 1,100
Orange 12,675
Pamlico 3,000
Pasquotank . 5,400
Pender.. 9,420
Perquimans
Person.. 32,900
Pitt 31,700
Polk
Randolph 34,700
Richmond 21,000
Robeson... 44,950
Rockingham
Rowan. 33,600
Rutherford 24,000
Sampson 21,900
Scotland 1,000
Stanly 36,350
Stokes - 22,500
Surry 19,600
Swain 100
Transylvania 725
Tyrrell 8,350
Union 11,200
Vance _ 4,500
Wake 23,100
Warren 12,270
Washington 20,360
Watauga.- 5,000
Wayne 5,200
Wilkes... 13,000
Wilson 11,800
Yadkin 8,212
Yancey S 1,506,787
STATE'S INVESTMENT IN RAILROADS
June 30, 1932
30,002 Shares Stock, North Carolina Railroad Company $ 3,000,200
12,666 Shares Stock, Atlantic & North Carolina Railroad Company 1,266,600
S 4,266,800
The State owns a majority of stock in these railroads, thereby giving the State control, which, at
the same time enhances the value of this majority stock. The North Carolina Railroad extends from
Goldsboro via Raleigh and Greensboro to Charlotte. It is leased to the Southern Railroad upon a
flat eight per cent (8%) stock basis. The Atlantic and North Carolina Railroad extends from Morehead
City to Goldsboro. It is leased to the Norfolk-Southern Railroad upon an increasing rental basis as
the lease ages. At present the rental upon a stock interest rate basis yields 4J^%. Both leases require
that at the termination of the leases, road bed, rolling stock, stations and all other property must be
in as good condition as at the beginning of the leases.
Report of State Treasurer 39
state sinking funds
June 30, 1932
Invested: Highway Sinking Fund No. 1
iH% Highway Bonds, due 1940 --_ S 50,000
4M% Highway Bonds, due J. & J. 1933-58 331,000
i}4% Education and Charity Bonds, October 1, 1963 110,000
iH7c Gastonia School Bonds, May, 1946-59 100,000
4Ji% Goldsboro Bonds, January, 1937-56 9,000
5% Raleigh School Bonds, October, 1938 3,000
6% Craven County Bonds, March, 1936 8,000
6% Pitt County Bonds, April, 1945 1,000
5% City of Henderson Bonds, June, 1953.- 2,000
4H% Public School Bonds, 1945 and 1950 7,000
4% Highway Bonds, 1939 17,000
5% Highway Bonds, 1961 12,000
5%Education and Charity Bonds, January, 1961 2,000
4M% Highway Bonds, 1940 1,000
4K% Park Bonds, April, 1965-67 133,000
i}4% Education and Charity Bonds, January, 1966 3,000
5% Funding Bonds, February 15, 1937 30,000
4M% Public School Bonds, January, 1942 25,000
4% Education and Charity Bonds, April, 1968 110,000 ? 054,000
Highway Sinking Fund No. 2
45-2% Pubhc School Bonds. January, 1936-50..- S 47,000
4^2% Highway Bonds, J. & J., 19.36-62 1,899,000
43^% Education and Charity Bonds, January, 1962-66 97,000
4% Highway Bonds, J. & J., 1935-47 342,000
5% Highway Bonds, 1961 26,000
5% Education and Charity Bonds, July, 1961 76,000
5% Funding Bonds, February 15, 1942 and 1952 8,000
iH% Highway Bonds, 1940 and 1952 18,000
4^% Park Bonds, April, 1967-72- 267,000
4M% Permanent Improvement Bonds, April, 1968 236,000
4M/0 Chowan Bridge Bonds, January, 1942 6,000
4M% Highway Bonds, January, 1939-42 21,000
4% Education and Charity Bonds, April, 1968 460,000
43^% Highway (Reg.) Bonds, 1950 10,000
4}-^% Highway (Reg.) Bonds, 1941-58 222,000
4M% Highway (Reg.) Bonds, January, 1936 76,000 3,811,000
Public School Sinking Fund No. 3
434% General Fund Notes, July, 1935 --? 39,000
4J^% Highway Bonds, 1940-55 257,000
4J^% Education and Charity Bonds, January, 1966 344,000
i%% Public Improvement Bonds, October, 1963 2.000
i}4% Public School Bonds, January, 1937-43 13,000
iH% Permanent Improvement Bonds, April, 1968 14,000
4J4% Park Bonds, April, 1942 10,000
04% Chowan River Bonds, January, 1944 5,000
4H% Highway (Reg.) Bonds, January, 1950 15,000
4Ji% Highway (Reg.) Bonds, January, 1936 24,000
4^% Highway (Reg.) Bonds, July, 1951 200,000 923,000
40 Report of State Treasurer
Public School Sinking Fund No. 4
4^% General Fund Notes, July, 1935— $ 64,000
4H% Highway Bonds, 1949, 1957, 1958.. 50,000
4% Highway Bonds, 1935-40 598,000
5% Funding Bonds, February 15, 1947 18,000
4M% Chowan River Bridge Bonds, January, 1942 10,000
4M% Highway Bonds, January, 1933-49 26,000
4M% Education and Charity Bonds, January, 1966 211,000
4M% Public School Bonds, January, 1935 and 1949 12,000
4M% Permanent Improvement Bonds, April, 1968 370,000
4}^% Public School Bonds, January, 1947 5,000
4V^% Highway (Reg.) Bonds, July, 1952 167,000
4% Highway (Reg.) Bonds, July, 1934 2,000
43^% Highway (Reg.) Bonds, January, 1950 25,000 S 1,558,000
Public School Bonds Sinking Fund No. 9
5% Highway Bonds, July, 1961 $ 25,000
4H% Highway Bonds, January, 1940 50,000
4H% Education and Charity Bonds, October, 1963 20,000
4H% Education and Charity Bonds, January, 1962 5,000
iy2% Highway Bonds, J. & J., 1935-64 79,000
4% Highway Bonds, July, 1939 and 1948 1.30.000
5% Funding Bonds, February 15, 1947 17,000
m% Highway (Reg.) Bonds, January, 1949 . 25,000 351,000
Educational, Charitable and Institutional Interest Sinking Fund No. 5
4}-^% Highway Bonds, January, 1933-63 ....$ 226,000
4H% Public School Bonds, January, 1941 15,000
4M% McDowell County Highway Bonds, March, 1944-54 100,000
5K% Moore County School Bonds, September, 1932-46 41,000
4H% Education and Charity Bonds, January, 1966 55,000
5% Funding Bonds, February 15, 1937 and 1942 315,000
4% Highway Bonds, J. & J., 1936-1946 294,000
4M% PubUc School Bonds, January, 1937-42 12,000
4M% Permanent Improvement, April, 1968 221,000
4% Education and Charity Bonds, April, 1968 175,000
45^% Education and Charity Bonds, October, 1963 5,000
4% Highway (Reg.) Bonds, July, 1944-46 200,000
4J4% Highway (Reg.) Bonds, January. 1951 15,000 1,674,000
Educational, Charitable, and Institutional Interest Sinking Fund No. 6
4M% Highway Bonds, January, 1940 $ 25,000
4M% Public School Bonds, January, 1941 and 1942 43,000
4)4% Education and Charity Interest Bonds, January, 1966 30,000
4% Highway Bonds, J. & J., 1935 and 1937 40,000
iy2% Highway Bonds, July, 1942 50,000
4H% Permanent Improvement, April, 1968 59,000
4% Education and Charity Bonds, April, 1968 45,000
4H% Highway Bonds (Reg.) 1943 10,000
4% Highway (Reg.) Bonds, 1943 5,000
4H7o General Fund Bonds, July, 1933 2,000 309,000
Report of State Treasurer 41
Educational, Charitable and Institutional Interest Sinking Fund No. 7
4J^% Highway Bonds, Jan., 1938 S 15,000
4% Highway Bonds, 1936 and 1946 67,000
iiifo Public School Bonds, January, 1942 25,000
4% Farm Colony Bonds, April. 1967 10,000
4H% Highway (Reg.) Bonds, July, 1936 25,000
4)i% Highway (Reg.) Bonds, January, 1945 15,000 S 157,000
Chowan River Bridge Sinking Fund No. 10
4% State Prison Bonds, July, 1967 90,000
Cape Fear River Bridge Sinking Fund No. 11
4% State Prison Bonds, July, 1967 72,000
4H% Highway Bonds, January, 1942 8,000 80,000
Total Invested S 9,907,000.00
Cash in Bank at Interest 966,156.77
Total Sinking Fund $ 10,873,156.77
42 Report of State Treasurer
BONDED debt OF NORTH CAROLINA
June 30, 1932
4% Hospital, July, 1909, due July, 1949 _ ? 500,000
4% Refunding, July, 1919, due July, 1950 . 3,430,000
4% Administrative Building, July, 1911, due July, 1951 250,000
4% Feeble Minded School, July, 1911, due July, 1951 60,000
4% Improvement, July, 1913, due July, 1953 1,142,500
4% Refunding, January, 1913, due January, 1953 550,000
iH% General Fund Notes, July, 1925, due July, 1932-1935 4,588,000
5% Funding, February 15, 1922, due February 15, 1937, 1942, 1947, 1952. 4,500,000
Educational and Charitable Institutions Bonds
4% dated July, 1917-20, due July, 1932-38.- 670,500
4% (Farm Colony) dated April, 1931, due April, 1967 60,000
4% dated April, 1931, due April, 1968 4,247,000
4M% dated April, 1930, due April, 1936-40 1,970,000
414% dated April, 1930, due April, 1968 1,000,000
4H% (Park) dated April, 1930, due April, 1933-72 2,000,000
434% dated January, 1922, due January, 1962 - 3,373,000
4.1/2% dated January 1926, due January, 1966 - 5,125,000
414% dated October, 1923, due October, 1963 3,049,000
43^% dated October, 1923, due October, 1963 7,100,000
43-1% (Fisheries) dated October, 1923, due October, 1963 500,000
5% dated July, 1921, duo July, 1961_ 3,372,000
4% (Prison) dated July, 1931, due July, 1967.. ._ 400,000 S 47,887,000
Public School Building Bonds
4% dated January, 1928, due January, 1933-41—Laws 1927 1,100,000
*H% dated January, 1928, due January, 1941-52—Laws 1927 1,400,000
*M% dated January, 1927, due January, 1933-51—Laws 1925 4,750,000
^¥2% dated January, 1922, due January, 1933-47—Laws 1921.. 3,585,000
41^% dated January, 1926, due January, 1933-.50—Laws 1923 4,500,000 15,335,000
World War Veterans Loan Bonds
iH% dated April, 1930, due April, 1950 - 2,000,000
4% dated July, 1931, due July, 1951 500,000 2,500,000
Highway Serial Bonds
4% dated January, 1927 and 1931, due July, 1932-48 20,500,000
4% dated January, 1928, due January, 1933-41 4,500,000
4}i% dated January, 1931, due January, 1934-54 (Cape Fear) 1,250,000
4J4% dated January, 1930, due January, 1933-40 (Chowan) 500,000
4M% dated January, 1927, due January, 1933-49 13,500,000
iVi% dated January and July, 1921-26, due January, 1933-64 45,800,000
4V2% dated January and July, 1921-26, due July, 1932-61 15,447,000
iH% dated January, 1923, due January, 1938-52 3,750,000
5% dated July, 1921, due July, 1941, 1951, 1961 4,540,000 109,787,000
Total Bonded Debt $175,509,000
Notes Payable
General Fund Notes $ 7,230,000
Permanent Improvements. 272,371 7,502,371
$183,011,371