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Biennial Report
. of the
Treasurer of North Garolina
for
Fiscal Years Ending June 30, 1927
and June 30, 1928
B. R. LACY
State Treasurer
INDEX
Page
Cash Balances, All Funds June 30, 1928 9
Consolidated Statement of Receipts and Disbursements 10
County Trust Funds 48
Departments and Institutions, Balances June 30, 1928 33
Disbursements General and Special Funds, Fiscal Year Ending June 30,
1927 16
Disbursements General and Special Funds, Fiscal Year Ending June 30,
1928 27
Investments, Railroad and Turnpike Companies 48
Public School Building Loan Fund, From Proceeds of Bond Sales 44
Public Treasurers of North Carolina 5
Receipts General and Special Funds, Fiscal Year Ending June, 30 1927. ... 11
Receipts General and Special Funds, Fiscal Year Ending June 30, 1928. ... 22
Public School Loans Outstanding, Literary Fund 42
Sinking Fund 46
State Debt 49
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
Digitized by the Internet Archive
in 2011 with funding from
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http://www.archive.org/details/biennialtreasr19261928nc
STATE OF NORTH CAROLINA
RALEIGH
Treasury Department
November 16, 1928.
Hon. A. W. McLean,
Governor of North Carolina.
Sir:
As required by law, I herewith submit to you for transmittal to the General
Assembly my biennial report of the operation of the Treasury Department
covering the two fiscal years ending June 30, 1927 and June 30, 1928. Certain
items of receipts contained in this report cannot be analyzed for the reason that
the collecting department itemized the income contained in certain classifica-tions
on some of the deposit slips sent in, while on others the amounts were
shown in a single total. For this reason a complete actual itemized statement
is impossible but the amount in the aggregate for each classification is correct,
although a comparison of various items over a period of years cannot be made.
Bonds: The authorized bond issues not sold oAving to condition of the money
market are as follows:
Chowan River Bridge $ 600,000
Cape Fear River Bridge 1,250,000
Veterans Loan 2,000,000
Permanent Improvement (Institution Buildings) 5,247,000
School Bonds 1,400,000
Highway 4,000,000
Prison Farm (Chap. 152, Public Laws 1927) 400,000
Smoky Mountain Park 2,000,000
Industrial Farm Colony for Women (Chap. 219, Public Laws 1927) . 60,000
Total 16,957,000
With the above bonds to be sold added to those now outstanding a total
of $186,249,600 is obtained and when the last property valuation of $2,934,-
013,736 is considered we are nearing our constitutional limitation. It is best
to remain well within the constitutional limitation. It should be understood
that while the automobile and gasoline tax is now ample to care for interest
and curtail of the road bond issue, total of $114,999,600, the credit of the
whole State is pledged as a guarantee, which means a property tax as well as
all other taxes, and failure for any cause of the gasoline or automobile tax shifts
the burden upon the other taxes. Comparison of bond issues of states includes
all bond issues. North Carolina ranks second of all states in bonded debt and
first in bond debt per capita. I advise against further issue of bonds for any
purpose at this time.
Taxes: In considering taxation the tax payers consider total annual taxes
paid and are not interested in the tax classification. Shifting from one class to
another does not affect the total paid and as the public pays the taxes, shifting
does not lighten the burden upon the whole. The taxable property, 1927
valuation, the last valuation available, is as before stated $2,934,013,736 and
1922 valuation $2,576,336,426 making the five year increase $357,677,310 or
8 Report of State Treasurer
an annual average normal increase of $71,535,462 for the past five years. Local
tax rates evidently have not been held level with the increased values but
raised. The State levying no property tax, relying for revenue wholly upon
income, inheritance, license and privilege taxes, has also resorted to higher
rates during this five-year period rather than being confined to the original
levy upon increase from these sources. This tax matter is called to your at-tention
in this manner for the reason the public, who are our tax payers,bear
the burden of both the State and local taxation and I am of the opinion the
weight of this burden should receive serious consideration at your hands.
Treasury Appropriations: The annual appropriation I have requested
for the conduct of my department is absolutely necessary for the efficient oper-ation
of my office. Were you to make a survey and comparison with other State
Treasury Departments of like business done, you would find that my office is
operated upon fewer employees and less cost than any of them.
In Conclusion: I desire to especially express to the Governor and to my
associates of the Council of State my deep appreciation for their kindly courtesies
and help: To shed a tear for the late Secretary of State Everett, for he was my
friend; and to all the other State officers with whom my association has been
so pleasant, my cordial goodwill.
Respectfully,
B. R. LACY,
Slate Treasurer.
CONDITION OF FUND BALANCES
IN THE
STATE TREASURY
June 30, 1928
Cash all Funds $ 20,093,430.94
Advances, recoverable from bond issues,
when sold:
Institution buildings $ 2 , 992 , 228 . 03
Public School Building 1,016,822.03
World War Veterans Loan 2,000,000.00
Emergency Loan 25 , 147 . 28 — S 6,034,197.34
Special Fund Liability Balances:
Agricultural Department $ 131 , 647 . 29
Highway Funds:
Maintenance $ 14 , 203 , 620 . IS
Cape Fear River Bridge 1,250,000.00
Building completion 8 , 577 . 82
Construction 1 , 563 , 623 . 88
Expense Revenue Dept 59 . 70
$ 17,025,881.58
Bank deposits unclaimed 225 . 82
Bank examinations 38 , 340 . 50
State Fair Association 172,787.38
Buildings, proceed bond sales
(1923-25) 25 , 709 . 65
Civil Engineers & Land Surveyors 8 , 279 . 73
Land titles, assurance of 1,714.41
N. C. Board of Health:
Federal funds « 22,526.42
Maternity and infancy 8,410 . 23
Rockefeller fund 1 , 586 . 21
• $ 32,522.86
Board of Charities and Welfare
Rockefeller fund $ 1 , 231 . 84
Bus tax surety fund 22.328.5S
State Warehouse System 12 , 597 . 00
Chowan River Bridge 12,429.46
World War Veterans Loan Funds:
Repaid principal $ 75 , 892 . 05
Not loaned from borrowed prin-cipal
42 , 864 . 24
Int. on loans paid 49,319.63
$ 168,075.92
Morrison Training School 100 . 07
Real Estate Commission 3 , 614 . 80
Rodman Trust Fund 152.92
Public School Bldg. 1. 1925 174,447.53
Insurance Department 123 , 250 . 92
Funds held in reserve for:
Pensions $ 98 ,043 . 27
Sinking fund not invested 462 , 845 . 90
County Highway loans 463,818.89
Int. and debt payment 4,151,974.54
$ 5,176,682.60
Board of Education 29 , 753 . S6
Outstanding Gen. Fund warrants 521,169.49
Total $ 23,682,944.21
General Fund Surplus 2 , 444 , 684 . 07
26,127,628.28 $26,127,628.28
TREASURY DEPARTMENT
CONSOLIDATED STATEMENT
Receipts and Disbursements
For Two Years Ending June 30, 1927 and June 30, 1928
RECEIPTS
Cash Balance July 1, 1926 $ 17,868,944.89
General Fund Tax Revenue $ 26,835,042.95
General Fund Non-Tax Revenue. . 8,750,622.47
General Fund Transfers. 632,894.79
$ 36,218,560.21
Special Fund Tax Revenue $ 34 , 935 , 545 . 83
Special Fund Non-Tax Revenue ... 1 1 , 321 , 704 . 04
Sinking Funds 1 , 004 , 655 . 63
Trust Funds (County Loan) 2,394,420.73
Special Fund Transfers 9 , 941 , 909 . 14 — $ 59,598,235.37
Bond Sales $ 47 , 100 , 000 . 00
Note Sales and Renewals 20,600,000 00
$ 67,700,000 00
$163 , 516 . 795 . 58
Total $181,385,740.47
DISBURSEMENTS
General Fund $33,774,477.41
General Fund Transfers 273 , 595 . 52 — $ 34,04S,072.93
Special Funds $ 88 , 194 , 236 . 60
Notes Paid and renewals 39,050,000.00
$127 , 244—, 236 . 604161 , 292 , 309 . 53
Cash Balance June 30, 1928 % 20,093,430.94
RECEIPTS AND DISBURSEMENTS
For Fiscal Year Ending June 30, 1927 and 1928
RECEIPTS FOR FISCAL YEAR ENDING JUNE 30, 1927
Balance July 1, 1926 $ 17,868,944.89
General Fund Tax Revenue:
Blue Sky Tax (Capital issue) $ 6 , 130 . 00
Bus Tax 167 , 733 . 71
Building and Loan Associations 43 ,381 .09
Corporation Tax, State Dept 107 , 1 13 . 60
Fees:
Attorney General - $ 2,100.70
Executive Department 7 , 187 .00
Insurance Department 14,742.70
State Department 2 , 165 . 84
$ 26 , 196 . 24
Insurance, licenses $ 129,665.03
Insurance Tax on Receipts 1 , 235 , 966 . 20
$ 1,365,631.23
Income Tax 6,341,215.03
Inheritance Tax 823,077.92
Interest on Bank Balance 337 , 655 . 83
Lightning rod agents 100 . 00
Seals:
Executive Department $ 8,044.00
State Department 690 . 00 — —
$
8 , 734 . 00
Schedule "B" Miscellaneous 1,170,305.64
Schedule "C" Franchise, etc 1,732,925.46
Trade mark registration 99 . 20
Penalties on bad checks 786 , 36
Total General Fund Tax Revenue $ 12 , 131 , 085 .31
Non Tax General Revenue:
Board of Elections $ 95 . 00
Books, sale of:
Laws and Journals $ 6 , 507 . 17
Supreme Court reports 12,483.49
$ 18,540.66
Gasoline inspection surplus 500 , 000 . 00
Indigent pupils 11 , 244 . 53
Incendiary fire fund surplus 80 ,044 . 81
Oil inspection surplus 70 , 000 . 00
Public Printing, paper stock, etc 66 , 429 . 12
Public Schools Emergency Loan:
Principal $ 870 . 00
Interest 62.97
$ 932.97
Refunds:
Soldiers and Widows pensions ... $ 1 , 041 . 00
Disabled Soldiers pensions 1 , 222 . 50
Auditor's Department Auditing. . 15,512.89
Mothers' Aid 15 . 00
Public Bldgs. and Grounds 13 , 283 . 00
Insurance Department 486 . 49
Treasury Department 45.00
12 Report op State Treasurer
RECEIPTS
—
Continued
General Fund Fiscal Year Ending June 30, 1927:
Non Tax General Revenue—(Continues,)
:
Fugitives from justice % 114.68
Governor's Mansion and grounds 85.80
Insurance on State property. . . . 313.48
Central Telephone exchange .... 2 , 845 . 00
Vocational Education
Rehabilitation 27 . 50
General assembly 47 . 50
Division of Certification and
Finance 60 . 00
Superintendent of Public
Instruction 300 . 00
Bonds, expense of sale 53,832.43
State Department 559 . 55
Legal services 25 . 00
Bureau of Labor and Printing . .
.
376 . 67
County advisory commission. ... 10.00
$ 90 , 203 . 47
Railroad Dividends:
Atlantic and N. C $ 44 , 331 . 00
North Carolina 210,014.00
$ 254,345.00
State Prison 375 ,430 . 35
Total Non Tax General Revenue $ 1,467,265.91
Departments and Institutions Carried
in General Fund:
N. C. College for Women $ 707,074.53
Board of Charities and Public
Welfare 495 . 50
Caswell Training School 5,747.54
East Carolina Teachers College 177,318. 10
East Carolina Industrial Train-ing
School 135 . 00
Historical Commission 526 . 55
Home and Industrial School for
Girls 905.24
Laboratory of Hygiene 31 ,382. 10
Library Commission 273 .31
N. C. Board of Health 20,404.96
Governor's office 50.00
N. C. A. & E. College 334,541.26
Negro A. & T. College 88 , 848 . 85
N. C. School for Deaf 7,844.39
N. C. School for Deaf and Blind 15,687.68
Orthopaedic Hospital 1 , 892 . 07
State Library 703 . 83
State Hospital, Raleigh 48 , 392 . 22
State Hospital, Morganton 21 , 231 . 59
State Hospital, Goldsboro 12,613.48
Stonewall Jackson Tr. School 6,676.23
Tuberculosis Sanatorium 113 , 709 . 47
University of N. C 547 , 989 . 15
Division of Organization and Civics 4,861 .59
Conservation and Development 71 , 165 . 90
Cullowhee Normal School 61 , 900 . 48
Report of State Treasurer 13
RECEIPTS
—
Continued
Special Funds—Fiscal Year Ending June 30, 1927:
Departments and Institutions Carried in General Fund (Continued)
:
Appalachian Normal School $ 74,373.34
Cherokee Indian Normal 6 , 104 . 90
Winston-Salem Teachers College,
(Colored) 49 , 229 . 78
Elizabeth City Normal School,
(Colored) 46 , 043 . 36
Fayetteville Normal School,
(Colored) 46,331.59
N. C. College for Negroes, Durham 22,279.28
Morrison Training School, (Colored) 2 , 299 . 18
Vocational Education 2 , 355 . 50
Total Institutions and Departments $ 2,531,387.95
Transfers General Fund:
Revenue Department from High-way
Fund $ 30 , 000 . 00
National Guard 29 , 345 . 52 — — $ 59 , 345 . 52
Special Fund Tax Revenue:
Agricultural Dept:
Miscellaneous $ 433,671.05
Gasoline Inspection 553,264.92
Oil Inspection 97 , 903 . 76
$ 1 , 084 , 839 . 73
Automobile Fund (Highway)
:
Automobile Theft $ 160 , 450 . 50
Automobile Licenses 5,416.843.55
Automobile Gasoline Tax 8,495,701 .03
Miscellaneous Revenue 1,425.66
From State Department 786 . 39
Accrued Interest 189 , 180 . 45
$ 14,264,387.58
Audubon Society 505 . 50
Bank examinations 73 , 435 . 90
Fisheries Commission 49 , 834 . 82
N. C. Real Estate Commission 4,095.00
Total Special Tax Revenue $ 15 , 477 , 908 . 53
Special Fund Non Tax Revenue:
Federal Funds:
Forest Reserve $ 4,358.75
State College A. & E 33 , 500 . 00
N. C. Board Health M. & 1 45,519.32
Negro A. & T. College 16,500.00
$ 99,878.07
Fire Loss:
State Hospital, Raleigh $ 212,857.02
Stonewall Jackson Tr. School.... 77.76
State's Prison 390.00
State College A. & E 410 . 29
$ 213,735.07
Civil Engineers and Land Surveyors 4 , 177 . 50
Insurance Department 214 , 716 . 51
Bus Depository 5,017. 14
14 Report of State Treasurer
RECEIPTS
—
Continued
Special Funds—Fiscal Year Ending June 30, 1927:
Special Fund Non Taw Revenue (Continued)
:
Rockefeller Fund:
Board of Health $ 15 , 493 . 73
Board of Charities and Welfare. 10,386.10
$ 25,879.83
Sinking Funds:
State Highway No. 1 24 , 781 .38
State Highway No. 2 . 95,497.89
Public School Bldg. No. 3 43 , 609 . 16
Public School Bldg. No. 4 134 , 256 . 67
Edu. and Charitable No. 5 191 ,990.03
Edu. and Charitable No. 6 52,307.03
$ 542,442.16
County Loan Fund 1 , 541 , 740 . 47
Public School Fund:
Interest on bonds sold % 6,493 .06
Loans repaid act of 1921 251,550.00
Loans repaid act of 1923 248 , 750 . 00
Loans repaid act of 1925 273 , 314 . 75
Int. collected act 1921 179,078.75
Int. collected act 1923 190,577. 18
Int. collected act 1927 206,319.48
$ 1,356,083.22
Sales and Refunds:
Cullowhee Normal School $ 319,93
Negro A. & T. College 63.00
N. C. College of A. & E 5,000.00
N. C. College for Women 1 ,000.00
Elizabeth City Normal School. . . 2 , 500 . 00
State Hospital, Raleigh 16 , 785 . 86
State Hospital, Morganton 2, 123 .06
University of N. C 1 , 133 . 69
State's Prison 3,376.70
World War Veterans Loan Fund 42 . 50
Auto Bldg. Completion Fund. . . 118.65
Board of Education:
Swamp Lands $ 4 , 595 . 50
Entries vacant lands 11,405.38
Literary Fund (Loans) 273,511.97
State Warehouse System:
Principal $ 23,681.67
Supervision 30 , 293 . 90
32,463.41
289,512.85
53,975.57
Total Special Fund Non Tax Revenue •$ 4 , 379 , 621 . 80
Transfers:
Highway Maintenance:
Interest on Notes and Bonds. ... $ 4 , 210 , 691 . 68
Automobile Bureau Expense. . . . 370,573.61
Total Highway S 4 , 581 , 265 . 29
Public School Fd. for Int 196 , 666 . 67
Rodman Trust Fund 1 , 731 . 86
Board of Health M. & 1 29,405.79
•$ 4,809,069.61
Bonds, Sale of:
Highway Serial 4% $ 10,000,000.00
Report of State Treasurer 15
RECEIPTS
—
Continued
Special Fonds—Fiscal Year Ending June 30, 1927:
Transfers (Continued)
:
Highway Serial 4M $ 15,000,000.00
Public School Bldg. 4J4% 5,000,000.00 — $ 30,000,000.00
Note Sales and Renewals 15,000,000.00
$ 45,000,000.00
$103,724,629.52
16 Report of State Treasurer
DISBURSEMENTS
General Fund—Fiscal Year Ending June 30, 1927:
Judiciary:
Supreme Court Justices . .
Supreme Court Expenses
.
Superior Court Judges. . .
Superior Court Solicitors
.
Judicial Conference
Executive Department:
Governor's office
Pardon Commissioner
State Department
Auditor's Department. . .
.
Treasury Department . . . .
Attorney General
18,301.25
5,880.00
22,520.04
60,251.82
34,470.95
13,253.47
Administrative Departments, Boards
and Commissions:
Department Labor and Printing ... $ 31 , 576 . 30
Public Buildings and Grounds 83 , 278 . 09
Governor's Mansion, Grounds, etc. 17,597.38
Rental of ofl&ces 3 , 873 . 23
Central Telephone exchange 12,301.80
Child Welfare Commission 25,757.31
Historical Commission 25,231.52
Laboratory of Hygiene 96,534.60
National Guard and Adjutant
General 168 , 562 . 42
N. C. Library Commission 24,506.94
N. C. Board of Health 339,820.41
State Library 13 , 505 . 86
Board of Charities and Public Wel-fare
33,317.65
Insurance Department 32,821 .40
Insuring State Property 53,939.88
Revenue Department 196,413.41
Corporation Commission 58,256.61
Department of Education 20 , 742 . 68
Equalizing Fund 1,512,397.31
Teachers' Training Fund 61, 418. 05
Vocational Rehabilitation 14,871.71
Division Negro Education 13,327.21
Division Publication 3 , 672 . 04
Division School Inspection 19, 151 . 82
Division Organization and Civics. 22,721.09
Division Teachers' Training 14 , 543 . 77
Division Certification and Finance 24,586.80
Division Rural Libraries 3 , 650 . 00
Vocational Education 168 , 170 . 56
Rural High Schools 108,299.91
State Board of Equalization 8 , 732 .31
Dept. Conservation and Devel 123,732.47
Transportation Advisory Com 399.59
County Government Advisory
Commission 4,166.62
Fisheries Commission Board 7 , 800 . 00
Text Book Commission 198 . 87
321,460.52
154,677.53
-$ 3,349,877.62
REroRT of State Treasurer 17
DISBTR SEME NTS—Continued
General Fund—Fiscal Year Ending June 30, 1927:
Non Administrative Boards and Commissions :
State Board of Elections $ 3,809. 17
Standard Keeper 83 . 32
$ 3,892. 49>
Public Printing, Including Paper $ 227 , 793 . 28
Contingency and Emergency:
Bonds, Expense of Sale 46,560.39
General Assembly 130 , 757 . 30
Budget Bureau 30 , 452 . 56
Salary and Wage Commission 4 , 555 . 06
Educational Commission 10,902.02
$ 223 , 227
.
33
Pensions:
Soldiers and Widows $ 1,032,5S7.50
Disabled Soldiers 14,035.00
Inmates of Soldiers Home 852.00
John A. Simpson 1 , 200 . 00
W. T. Reaves 900.00
I. C. Blair 200.00
$ 1 , 049 , 774 . 5a
State Aid and Subsidies:
Mothers' Aid $ 29 , 198 . 69
Farm Life Schools 25 , 000 . 00
Moore's Creek Battle Ground 500.00
Bennett Memorial 50 . 00
Agricultural Extension 185,638.72
Appalachian Park Commission .... 1 , 574 . 08
Confederate Museum, Richmond . . 250 . 00 — ——
$
242,211.49
Bond Interest Sinking Funds and Debt
Payments:
Interest 4% State Bonds $ 242,614.00
Interest 4% Caswell Tr. School. . . 3,000.00
Interest 4% Tr. Sch. for Girls 960.00
Interest 4% Educational and
Charitable Institutions 47,770.00
Interest 4M% Ed. and Char. Instu. 519,052.50
Interest 4%% Ed. and Char. Instu. 335 , 298 . 75
Interest 4%% Public Improvement 23,607.50
Interest 5% Funding Bonds 223,475.00
Interest 5% Ed. and Char. Inst... . 168,225.00
Interest 4}i% General Fund Bond
Notes 399,415.00
3
Redemption of Bonds:
Matured Bonds, 4% Edu. and
Charitable Instution $ 106,000.00
Bonds, Compromise Act 1879 7,926.00
S
State Institutions (Maintenance)
:
Educational:
University of N. C $ 1,299,443.01
State A. & E. College 759,026.23
N. C. College for Women 1,142,258.53
1,963,417.75
113,926.00
18 Report of State Treasurer
DISBURSEMENTS
—
Continued
General Fund—Fiscal Year Ending June 30, 1927:
State Institutions (Maintenance) (Continued):
East Carolina Teach. College. ... $ 352 , 841 . 11
Negro A. & T. College 159,448.59
Cullowhee Normal School 114, 786 . 74
Appalachian Training School. . .
.
126,422.55
Cherokee Indian Normal School 31 , 789 . 36
Winston-Salem Teachers' College 89,372.18
Negro Normal School, Elizabeth
City .
.'. 79 , 579 . 37
Negro Normal School, Fayette-ville
81,260.36
N. C. College for Negroes, Dur-ham
52,353.76
Charitable and Correctional In-stitutions
(Maintenance)
:
Caswell Training School $ 124, 186.03
Confederate Women's Home. . . . 13,862.00
East Carolina Training School. .
.
11, 375 . 03
Home and Industrial School for
Girls 101,905.35
N. C. School for Deaf 134,922.31
N. C. School for Deaf and Blind 158,958.97
Orthopaedic Hospital 76 , 333 . 84
Oxford Orphanage, White 30 , 000 . 00
Oxford Orphanage, Colored 19,999.99
Soldier's Home 57,140.91
State Hospital, Raleigh 538,857.51
State Hospital, Morganton 403,797.74
State Hospital, Goldsboro 259,413.85
Stonewall Jackson Tr. School ... 133 , 148 . 66
Tuberculosis Sanatorium 240 , 957 . 50
Morrison Training School 14,688.15
State's Prison 524,035.94
Miscellaneous:
Fugitives from Justice $ 4 , 582 . 43
Tubercular cattle 5 , 774 . 24
Tick Eradication 1 , 961 . 50
Firemen's Relief Fund 1 , 875 . 00
Refunds:
State Department, miscellaneous. . $ 808.95
Fees, Insurance 233 . 00
Insurance Companies' Taxes 887.98
Schedule "B" Taxes, Rev. Dept. .
.
11,952.08
Schedule "C" Taxes, Rev. Dept. . . 18,586.14
Income Taxes, Rev. Dept 105,610.66
Inheritance Tax, Rev. Dept 25,861 .04
Bus Tax, Revenue Dept 490,97
Revenue Dept. Imprest Fund 2,500.00
Lightning Rod Agents 580 .00
Miscellaneous refunds Rev. Dept . . 2 , 297 . 49
Ex-State Treasurer Wm. H. Worth 12,060.04
$ 4,288,581.79
$ 2,843,583.78
14,193.17
Report of State Treasurer 19
DISBURSEMENTS
—
Continued
Special Funds—Fiscal Yeab Ending June 30, 1927:
Refunds (Continued) :
Corporation Tax, State Dept $ 2 , 731 . 23
Laws and Journals 7 . 50
Blue Sky Taxes 10.00
• — $ 1S4.617.08
Transfers:
Sinking Fund. Contribution 214,250.00
Indigent Pupils 11,137.42
Incendiary Fire Fund 810.00
$ 226,197.42
Total General Fund $ 15,207,431.75
Special Fund Disbursements:
Agricultural Department:
Miscellaneous $ 441 , 518 . 33
Gasoline Inspection 538,118.06
Oil inspection 100,773.93
$ 1,080.410.32
Automobile Funds:
Maintenance $ 13,571,892.75
Automobile Bureau Exp 334,407.27
Automobile Theft 142 , 823 . 15
Highway road construction 16,514,679.99 —— $ 30,563,803.16
Insurance Department 259 , 925 . 12
Bank examinations 47 , 866 . 10
Rodman Trust Fund 1 , 554 . 24
Fisheries Commission 43,314.69
Audubon Society 534 . 21
Automobile Building Fund 69,345.44
Automobile Bldg. Completion
Fund 42 , 936 . 09
Historical Commission Manu-script
Fund 100 . 00
N. C. Real Estate Commission 776.60
Civil Engineers and Land Sur-veyors
5 , 203 . 96
Auto Bldg. accessory fund 9 , 968 . 18
Board of Health, N. & 1 21,254.38
Federal Funds:
Forest Reserve $ 4, 359. 91
State College of A. & E 33 , 500 . 00
N. C. Board of Health 34,718.32
Negro A. & T. College 16 , 500 . 00
$ S9.078.23
Rockefeller Fund:
Board of Charities and "Welfare. . $ 9 , 892 . 57
N. C. Board of Health 16,228.78 — $ 26,121.35
Interest, Bonds and Notes:
Public School Building 4 }i % ... $ 23 , 842 . 50
Public School Bldg. 4} 2% 450,270.00
Public School Bldg. Notes 107,676.97
Highway Bonds 4 % 300 . 00
Highway Bonds 4J4% 14,811.25
Highway Bonds 4 y2% 2 , 782 , 237 . 50
Highway Bonds ±M% 178,291.25
20 Keport of State Treasurer
DISBURSEMENTS
—
Continued
Special Funds—Fiscal Year Ending June 30, 1927
Special Funds Disbursements (Continued > :
Highway Bonds 5 % 227 . 147 . .50
Highway Notes 4K % 550 , 722 . 34
Highway Int. accrued 189, 180.45
Institution Buildings from Bond
Issue
:
Appalachian Training School. ... $ 10 , 279 . 95
Caswell Training School 42,618.52
Gullowhee State Normal School
.
16 , 107 . 07
E. Carolina Teachers College 9,817.39
East Carolina Industrial School. 2,393.09
Fisheries Commission 26 T520 . 13
Home and Industrial School for
Girls , . . 43,205.07
N. C. Sch. for Deaf and Blind. .
.
37 , 626 . 21
N. C. College A. & E 168,537.05
N. C. College for Women 408,885.80
Negro A. & T. College 25,908.21
Negro Normal Sch., Fayetteville 7,338.13
Negro Normal Sch. Elizabeth
City 7 , 370 . 69
Orthopaedic Hospital 1 , 000 . 00
State Hospital, Raleigh 515,038.06
State Hospital, Morganton 51,615.82
State Hospital, Goldsboro 11,118.12
Stonewall Jackson Tr. School. . . 22,522.06
Tuberculosis Sanatorium 87,541 . 10
University of N. C 300 , 561 . 79
State's Prison 135 , 719 . 94
Governor's Mansion 8,213.72
•Cherokee Indian Normal School 913.39
N. C. Sch. for Deaf, Morganton
.
371 . 54
JNL C. College for Negroes,
Durham 14,103.69
"Winston-Salem Teachers College 1 , 933 . 70
Confederate Women's Home. . . . 3,486.00
4,524,479.76
$ 1 , 960 , 746 . 24
Hefunds:
Bus depository aecount $ 10 , 794 . 14
Emergency Loan Public Improvement:
Central Heating Plant $ 2 , 350 . 00
Sinking Funds:
Highway No. 1 $ 64,848.60
Highway No. 2 . 108,082.77
Public Schools No. 4 163,427.28
Educational and Char. Inst. No. 5 371 , 070 . 21
Educational and Char. Inst. No. 6 32 , 424 . 30
$ 739 , 853 . 1
6
County Loan Fund No. 8 1 , 481 , 740 . 47
Payment principal general fund
debit balance 400,000.00
•General fund June 30, 1925 8 , 282 . 42
Report of State Treasurer 21
DISBURSEMENTS—Continued
Special Funds—Fiscal Year Ending June 30, 1927:
Special Funds Disbursements (Continued)
:
Public School Bldg. Funds:
Special Building Laws 1923 $ 107,912.39
Special Building Laws 1925 1,048,420.96 — $ 1,156,333 35
Redemption of Bonds:
Public School Building 4^ % $ 165 , 000 . 00
State Warehouse System:
Principal $ 214.40
Supervision 18, 134 . 13
$ 18,348.53
World War Veterans Loan Funds:
Loans $ 80 , 250 . 00
Maintenance 4,708.79
$ 84,958.79
Board of Education:
Loans for Building School Houses,* 276 , 3S5 . 87
Salaries and Expenses 8,396.75
Expense Sale of Swamp Lands... 886.87
Taxes paid on Swamp Lands. . . . 2,065.93
Transfer to Rodman Trust Fund 1 , 554 . 28
$ 289,289.70
Total Special Funds $43, 104 , 368 . 63
Notes Paid and Renewed 25 , 300 , 000 . 00
Cash Balance June 30, 1927 20 , 1 12 , 829 . 14
$103,724,629.52
RECEIPTS AND DISBURSEMENTS
Receipts Fob Fiscal Year Ending June 30, 1928:
Balance July 1, 1927 $ 20,112,829.14
General Fund Tax Revenue:
Blue Sky Tax (Capital issue) $ 12 ,069 . 75
Corporation Tax State Dept 111,222.37
Fees:
Attorney General $ 1 ,029 . 25
Executive Department 7,734.00
Insurance Department 14,913.45
State Department 732 . 80
$ 24 , 409 . 50
Insurance, licenses $ 3, 118. 42
Insurance, Tax on Receipts 255 , 943 . 35
$ 259,061.77
Insurance Dept. Miscel. Revenue 724.09
Income Tax 8 , 196 , 049 . 83
Inheritance Tax 710 , 636 . 56
Interest on Bank Balance 566 , 595 . 18
Seals:
Executive Department $ 8,241 .00
State Department 174.00
$ 8,415.00
Schedule "B" Taxes, Miscel 1,430,353.88
Schedule "C" Taxes, Franchise etc 3,382,249.70
Trade mark registration 105 . 51
Penalties, State Department 1,680.00
Bus Tag Tax 384.50
Total General Fund Revenue $ 14 , 703 , 957 . 64
Non Tax General Revenue:
Board of Elections $ 2,100.00
Books, Sale of:
Laws and Journals $ 3 , 122 . 65
Supreme Court Reports 8,554.26
$ 11,676.91
Gasoline Inspection surplus 637,571 .32
Indigent Pupils 2 , 676 . 74
Incendiary Fire Fund 405 . 60
Oil Inspection Surplus 110,118.93
Public Printing 70 , 746 . 92
Refunds:
Attorney General $ 901 . 68
Soldiers and Widows pensions .... 1 , 240 . 00
Disabled soldiers 305.00
Auditor's Department 2,803.30
Public Buildings and Grounds. . . 14 , 552 . 69
Insurance Department 73 . 28
Treasury Department 4. 10
Fugitives from Justice 177.63
Governor's Mansion and Gr'ds. . 61.40
Central Telephone Exchange 4 , 276 . 25
Bonds expense of sale 24,721.13
State Dept. Miscellaneous 9.12
Report of State Treasurer
RECEIPTS—Continued
General Funds—Fiscal Year Ending June 30, 1928:
Non Tax General Revenue (Continued)
:
Motor Vehicle Bureau $ 1,714.97
Child Welfare Commission 9. 10
N. C. Board of Health 501.21
Negro A. & T. College 89 . 61
N. C. Corporation Commission . 225.90
Equalizing Fund 2 , 000 . 00
Dept. Conservation and Develop-ment
180.43
Vocational Education Ex officio 8,342.27
State Hospital, Goldsboro 50.24
Fire prevention bureau 223 . 25
$ 62,463.16
Railroad Dividends:
Atlantic & N. C .$ 47 , 497 . 50
North Carolina 210,014.00 — $ 257,511.50
State's Prison 706,301.28
Total Non Tax General Revenue $ 1,861.572,36
Departments and Institutions carried
in General Fund:
N. C. College for Women $ 736,037.05
Board of Char, and Pub. Welfare 241 . 70
Caswell Training School 5,265.05
E. Caro. Teachers College 199,768.73
E. Caro. Industrial Tr. School 180.00
Historical Commission 508 .49
Home and Indus. Sch. for Girls 2,421.42
Laboratory of Hygiene 34 , 878 . 17
N. C. Library Commission 245 . 26
N. C. Board of Health 14,964.36
N. C. College of A. & E 271,0S5.71
Negro A. & T. College 89,651.20
N. C. School for Deaf 5,616.46
N. C. School for Deaf and Blind 14,402.44
Orthopaedic Hospital 2,072.50
State Library 158 . 43
State Hospital, Raleigh 40,574.49
Soldiers Home 100 . 00
.State Hospital, Morganton 17,576.70
State Hospital, Goldsboro 9,384.70
Stonewall Jackson Tr. School 8 , 865 . 56
Tuberculosis Sanatorium 123 , 717 . 53
University of North Carolina 564 , 888 . 54
Dept. of Conservation and Develop-ment
284 , 907 . 62
Cullowhee Normal School 73 , 193 .04
Appalachian Normal School 82,044.09
Cherokee Indian Normal School 6,236.99
Winston-Salem Teachers College
(Colored) 42,441.80
Elizabeth City Normal School
(Colored) 44 , 939 . 00
Fayetteville Normal Sch. (Colored) 42,252.76
24 Report of State Treasurer
RECEIPTS
—
Continued
Special Funds—Fiscal Year Ending June 30, 1928:
Department and Institutions carried in General Fund (Continued) :
N. C. College for Negroes $ 32,039.29
Morrison Tr. School (Colored) 2,225.41
Vocational Education Ex-officio 990 . 00
Total Institutions and Depts $ 2 , 753 . 874 . 49
Administration Boards and Commissions:
Building and Loan Bureau $ 17,425.07
Public Bldgs. and Grounds 114.35
Division of Coastal Fisheries 51 , 565 . 70
National Guard 55 , 790 . 80
Equalizing Fund 262 . 81
Vocational Edu. Rehabilitation 1,707.50
Division of School inspection 491 . 80
Supt. Public Instruction 9 , 163 . 73
Total Administration Boards and
Commissions $ 136,521.76
Transfers:
Motor Vehicle Bureau $ 533 , 549 . 27
Revenue Department 40 ,000 . 00
Total Transfers $ 573 , 549 . 27
Special Fund Tax Revenue:
Agricultural Department:
Miscellaneous $ 495,131.30
Gasoline Inspection 607,905.44
Oil Inspection 103 , 269 . 75
$ 1,206,306.49
Automobile Fund (Highway)
:
Automobile Theft $ 171,273.00
Automobile Licenses 8,199,011.88
Gasoline Tax 9,678,518.83
Tolls Chowan River Br 50 , 701 . 66
Miscellaneous 14 . 37
Int. accrued on bonds 87 , 426 . 26
$ 18,186,946.00
Bank Examinations 58 , 929 . 81
N. C. Real Estate Commission. 5,455.00
Total Special Fund Tax Revenue $ 19 , 457 , 637 . 30
Special Fund Non Tax Revenue:
Federal Funds:
Forest Reserve $ 5,030.86
State College of A. & E 294,356.06
Negro A. & T. College 16,500.00
N. C. Board of Health M. & I. . 22,000.00 —— — —$ 337 , 886 . 92
Report of State Treasurer 25
KECEIPTS—Continued
Special Funds—Fiscal Year Ending June 30, 1928:
Special Fund Non Tax Revenue (Continued)
:
Land Titles, Assurance of
Civil Engineers and Land Sur-veyors
Insurance Department
Bus Depository
Rockefeller Fund:
Board of Health
Negro Welfare
School Attendance
Sinking Funds:
State Highway No. 1
State Highway No. 2
Public Sch. Bldg. No. 3
Public School Bldg. No. 4
Educational and Char. No. 5. .
Educational and Char. No. 6...
County Loan Fund No. 8
Highway Const., Resale Notes and
Bonds
N. C. State Fair
Public School Fund:
Accrued on bond sales
Loans repaid Act of 1921 ....
Loans repaid Act of 1923 ....
Loans repaid Act of 1925. . . .
Interest collected Act of 1921
Interest collected Act of 1923
Interest collected Act of 1925
Interest collected Act of 1927
12,277.00
4,900.00
2 , 000 . 00
26,151.50
100,614.46
45,661.88
38,290 00
197,745.03
53,750.50
15
253
251
265
169
181
222
75
782.35
250.00
250.00
500.00
035.83
252.35
348 . 53
847.21
Special Building Funds, sales, re-funds,
insurance fire loss, etc.
:
East Carolina Teachers Colleges 4,794.57
Home and Industrial Tr. School. 13,662.43
N. C. College for Women 195.00
State Hospital, Morganton 750 . 45
State Hospital, Goldsboro 4,503.28
Stonewall Jackson Tr. School. . . 1,408.92
State's Prison 9,014.04
Cherokee Indian Normal 7 . 67
Winston-Salem Teachers College 2,000.00
Public School Bldg. Act 1927 1,000.00
Public Bldgs. and Gr'ds P. & I. . 2,696.97
S
Board of Education:
Sale of Swamp lands $ 542 . 00
Entries to vacant lands 3,007.91
Literary Fund (Loans) 289,879.90
$
State Warehouse System:
Principal $ 75,657.43
Supervision 22 , 880 . 46
140.04
3 , 688 . 00
170,634.04
5,101 .00
462,213.47
852 , 680 . 26
4,250,000.00
200,000.00
1,434.266.27
40,033.33
293,492.81
98.537.89
26 Keport of State Treasurer
RECEIPTS
—
Continued
Special Funds—Fiscal Year Ending June 30, 1928:
Special Fund Non Tax Revenue (Continued):
World War Veterans Loan Fund
:
Principal S 2,075,892.05
Interest 49 , 302 . 13
$ 2,125,194.18
Amortization of Prison Deficit $ 949 . 14
Emergency Loan, permanent im-provement
47 , 227 . 25
Total Spec. Fd. Non Tax Revenue $ 10 , 341 , 158 . 60
Transfers:
Highway Maintenance:
Int. on Highway Bonds $ 4 , 456 , 462 . 45
Int. on Highway Notes 281 ,902 .03
Chowan River Bridge- Main-tenance
38 , 272 . 20
Total Highway $ 4 , 776 , 636 . 68
Public School Bldg. Fund for
interest $ 250,801.38
Int. Veterans Loan Fund notes. . 39,000.00
Rodman Trust Funds 1 ,560.00
Auto. Theft Fund 42,581 .47
Board of Health, Maternity and
Infancy 22,260.00
$ 356 , 202 . 85
Total Transfers $ 5,132,839.53
Bond, Sale of:
Highway Serial 4% $ 16,000,000.00
Public School Bldg. 4 % 1 , 100 , 000 . 00
$ 17,100,000.00
Notes and Renewals $ 5 , 600 , 000 . 00
^—$ 22,700,000.00
$ 97,773,940.09
Report of State Treasurer 27
DISBURSEMENTS
General Fund—Fiscal Year Ending June 30, 1928:
Judiciary:
Supreme Court Justices $ 39 , 999 . 60
Supreme Court Expenses 26 , 335 . 78
Superior Court Judges 205 , 191 . 84
Superior Court Solicitors 105,437.50
Judicial Conference 474.03$
Executive Departments:
Governor's Office $ 17,933.52
Pardon Commissioner 6,917.67
State Department 23 , 994 . 42
Auditor's Department 47,668.72
Treasury Department 35,729. 14
Attorney General 19,389.83
Administrative Departments, Boards
and Commissions:
Department of Labor and Printings 35,451.43
Public Buildings and Grounds 92 , 299 . 76
Governor's Mansion and Grounds.. 22,656.08
Rental of Offices 2,813.66
Central Telephone Exchange 15,652.97
Child Welfare Commission 32,445.50
Historical Commission 30,641.79
Laboratory of Hygiene 104,957.68
National Guard 222 , 155 . 08
Adjutant General 6, 148.49
N. C. Library Commission 25,337.76
N. C. Board of Health 360,536.03
State Library 11 , 525 . 81
Board of Char, and Welfare 37,716.08
Insurance Department 36,991. 18
Insurance on State Property 70 . 00
Revenue Department 192,841.89
Corporation Commission 85 , 562 . 33
Department of Education 140,655.75
Equalizing Fund 3 , 227 , 987 . 83
Teachers Training Fund 7 ,430 . 00
Vocational Rehabilitation 13 , 000 . 39
Division of Negro Education 400 . 80
Division Sch. Inspection 118.55
Division of Organization and Civics 691 . 25
Division of Teachers Tr 59 . 66
Tax Commission 18 , 124 . 66
Building and Loan Bureau 26 , 196 . 27
Vocational Education 154,418. 19
Division of Certification and
Finance 21 . 00
Division of Rural Libraries 100 . 00
Rural High Schools 600.00
Dept. Conservation and Develop-ment
335 , 455 . 09
Transportation Advisory Commis-sion
11,439.33
County Government Advisory
Commission 18 , 054 . 92
377,438.75
$ 151,633.30
2S Report of State Treasurer
DISBURSEMENTS—Continued
General Fund—Fiscal Year Ending June 30, 1928:
Administrative Departments, Boards and Commissions (Continued):
Text Book Commission $ 1 , 29 7 . 00
Division of Coastal Fisheries 51,836.35
Public School Fund, State Aid. . . . 134,434.26
Fire Prevention Bureau 50 , 166 . 82
Motor Vehicle Bureau 530 , 973 . 52
Gasoline Inspection Fund 37 , 453 . 26
Oil Inspection Fund 29 , 519 . 68
$ 6,106,256.10
State Board of Elections 8,952.00
Public Printing Including Paper:
Public Printing $ 93 , 253 . 00
Printing Supreme Court 19,130.44
$ 112,383.44
Contingency and Emergency:
Bonds, Expense of Sales $ 27,026.99
General Assembly 1 , 2 1 1 . 26
Budget Bureau 29,274.21
Salary and Wage Commission 3 , 209 . 94
Educational Commission 864 . 02
Funeral Expenses W. N. Everett. . 959.00
$ 62 , 545 . 42
Pensions:
Soldiers and Widows $ 1,378,027.50
Disabled Soldiers 25 , 282 . 50
Inmates Soldiers Home 672.00
John A Simpson 1 , 200 . 00
W. T. Reaves 900.00
I. C. Blair 600.00
$ 1,406,682.00
State Aid and Subsidies:
N. C. Park Commission $ 3,000.00
Mothers' Aid 42,022.92
Farm Life Schools 25 ,000 . 00
Moore's Creek Battle Ground 500.00
Bennett Memorial 50 . 00
Agricultural Extension 392 , 163 . 84
Confederate Museum, Richmond . . 500 . 00
N. C. & S. C. Boundary Com 1 , 766 . 60
Gettysburg Monument 10,006.20
Confederate Cemetery 500 .00
$ 477,509.56
Bond Interest Sinking Funds and
Debt Payments:
Interest 4 % State Bonds $ 237 , 564 . 00
Interest 4 % Caswell Training Sen
.
1 , 500 . 00
Interest 4 % Ed. and Char. Inst ... 42 , 122 . 50
Interest 4 % Training School for
Girls 400.00
Interest 4^% Educational and
Char. Instu 527,107.50
Interest 4 % % Educational and
Char. Instu 337,725.00
Interest 4%% Public Impr 23,013.75
Interest 5 % Funding 225 , 675 . 00
Report of State Treasurer 29
DISBURSEMENTS—Continued
General Fund—Fiscal Year Ending June 30, 1928:
Bond Interest, Sinking Fund and Debt Payments (Continued)
:
Interest 5% Ed. and Char. Inst. . . $ 171,000.00
Interest 4 J4 % General Fund Note
Bonds 375 , 360 00
S 1,941,467.75
Redemption of Bonds:
Home and Industrial Training
School 4 % i
Educational and Char. Instu. 4%..
Geneal Fund Note Bonds 4 M % • •
Caswell Training School 4%
25,000.00
101,000.00
450,000.00
75,000 00
$ 651,000.00
Stale Institutions Maintenance:
Educational:
University of N. C $ 1 , 393 , 159 . 02
State College of A. and E 704 , 394 . 06
N. C. College for Women 1 , 192 , 285 . 25
East Caro. Teachers College. . . . 352,696.62
Negro A. & T. College 161,667.70
Cullowhee Normal School 124 , 330 . 74
Appalachian Training School.. . . 136,932.88
Cherokee Normal School 34,793.91
Winston-Saiem Teachers College 91,365.44
Negro Normal, Elizabeth City. . 84,150.08
Negro Normal, Fayetteville 76, 751. 71
N. C. College for Negroes 64,240.49
Charitable and Correctional Insti-tutions
(Maintenance)
:
Caswell Training School $ 138 , 172 . 76
Confederate Women's Home. . . . 13,375.00
East Carolina Training School. . 17,214.99
Home Training School for Girls
.
95 , 762 . 64
N. C. School for Deaf 140 , 683 . 90
N. C. School for Deaf and Blind 157,350.15
. Orthopaedic Hospital 84 , 739 . 75
Oxford Orphanage, White 30 , 000 . 00
Oxford Orphanage, Colored 25 , 000 . 00
Soldiers Home 51,086.23
State Hospital, Raleigh 416,728.33
State Hospital, Morganton 444 , 220 . 17
State Hospital, Goldsboro 256,468.76
Stonewall Jackson Training Sch. 149 , 581 . 05
Tuberculosis Sanatorium 251 ,789. 11
Morrison Training School 20,026.67
State's Prison 549 , 364 . 94
Efland Sch. for Negroes 1 , 500 . 00
$
Miscellaneous:
Fugitives from Justice 5,095.71
Tubercular Cattle 7 , 231 . 07
Firemen's Relief Fund 2 , 500 . 00
S 4,416,767.90
2,S43,064.45
14,826.78
30 Report of State Treasurer
DISBURSEMENTS—Continued
Special Funds—Fiscal Year Ending June 30, 1928:
Refunds:
State Dept. Miscellaneous $ 14.21
Insurance Companies Taxes 2,451.37
Schedule "B" Tax Rev. Dept 16,029.00
Schedule "C" Tax Rev. Dept 2,019.73
Income Tax, Revenue Dept 21,482.33
Inheritance Tax, Rev. Dept 11,676.93
Revenue Dept. Miscellaneous 867.98
Corporation Tax, State Dept 1,067.48
Blue Sky Tax 225.90
Fees, State Department 14.80
Seal Tax, State Department 4.00
Penalties, State Department 10.00
S 55,863.73
Transfers:
Sinking Fund Contribution $ 214 , 250 . 00
Total General Fund $ 18 , 840 , 641 . 18
Special Fund Disbursements Year End-ing
June 30, 192S:
Agricultural Department & 455 , 855 . 63
Automobile Funds:
Maintenance $ 10,239,912.32
Automobile expense 36,684. 18
Automobile Theft 1 , 841 . 32
Highway Road Construction 16,947,676 . 13
$ 27,226,113.95
Insurance Department $ 116,239.23
Bank Examinations 51,336.62
Rodman Trust Fund 1 , 407 . 12
Audubon Society 495 . 50
Automobile Bldg. Fund 2,808.38
Auto. Bldg. Completion Fund 25.24
N. C. Real Estate Commission. .- 6,268.60
Civil Engineers and Land Surveyors 3 , 975 . 90
Board of Health M. and 1 22,001.18
N. C. State Fair 27,212.62
Inland Waterways 19 , 254 . 62
Federal Funds:
Forest Reserve $ 5 , 030 . 86
State College of A. & E 33 , 500 . 00
N. C. Board of Health M. & I. . 25,639.97
Negro A. & T. College 16,500.00
$ 80 , 670 . 83
Rockefeller Fund:
Board of Charities and Welfare. . $ 1 , 084 . 62
School Attendance 1,232.52
Negro Welfare 4,665.00
N. C. Board of Health 10 , 942 . 74 —
—
$ 1 7 , 924 . 88
Interest on Notes and Bonds:
Public School Building 4 J4 %....$ 213 , 520 . 00
Public Sch. Bldg. 4 y2 % 445 ,072 . 50
Public Sch. Bldg. Notes 5 , 829 . 70
Accrued Public Sch. Bldg 6,865.06
Highway Bonds 4 % 424 , 400 . 00
Report op State Treasurer 31
DISBURSEMENTS—Continued
Special Funds—Fiscal Year Ending June 30, 1928:
Special Funds (Continued)
:
Highway Bonds 4M% $ 647,445.00
Highway Bonds 4 %. % 2 , 788 . 830 . 00
Highway Bonds 4 3A% 177,982.50
Highway Bonds 5 % 229 , 530 . 00
Highway Notes 233 , 730 . 44
Highway Interest accrued 4 , 111 . 18
Veterans Loan Fund Notes 39 , 000 . 00
• $ 5,216,316.38
Institution Buildings from Bond
Issue
:
Appalachian Training School.. . .$ 21,376.24
Caswell Training School 87,793.07
Cullowhee Normal School 53,300.00
E. Caro. Teachers' College 321,169.03
East Carolina Industrial School. 62,737.22
Home Industrial Tr. School for
for Girls 64,080.04
N. C. School for Deaf and Blind 256.65
N. C. College of A. & E 349,739.15
N. C. College for Women 453,556.87
Negro A. & T. College 34,263.98
Negro Normal Sch. Fayetteville. 19,716.13
Negro Normal Sch. E. City ' 16,987.45
Orthopaedic Hospital 119, 638. 97
State Hospital, Raleigh 64,111.68
State Hospital, Morganton 89 , 720 . 80
State Hospital, Goldsboro 174,414.65
Stonewall Jackson Tr. School ... 30 , 294 . 94
Tuberculosis Sanatorium 129,058.35
University of N. C 439 , 563 . 72
State's Prison 49,637.09
Morrison Tr. School 51,462.69
Cherokee Indian Normal School. 174. 11
N. C. Sch. for Deaf, Morganton. 77,092.15
N. C. College for Negroes 10.91
Winston-Salem Teachers College 38 , 706 .*43
Industrial Farm Colony for
Women 5 , 507 . 81
$ 2,754,370.13
Refunds
:
Bus Depository Account $ 8 , 100 . 42
Sinking Funds:
Highway No. 1 $ 27,685.75
Highway No. 2 103,797.46
Public School No. 3 65 , 820 . 91
Public School No. 4 141,310.36
Edu. and Char. Institution No. 5 44 , 638 . 10
Edu. and Char. Institution No. 6 20,237.80 — $ 403,609.38
County Loan Fund No. 8 448 , 861 . 37
Special Building Funds:
School Bldg. Laws 1925 S 587 , 081 . 92
School Bldg. Laws 1927 2 , 193 , 669 . 24
Public Bldgs. and Grounds 72,623.19 — $ 2,853,374.35
32 Report of State Treasurer
DISBURSEMENTS—Continued
Special Funds—Fiscal Year Ending June 30, 1928:
Special Funds (Continued)
:
State Warehouse System:
Principal $ 102 , 595 . 00
Supervision 40 , 722 . 02
$ 143,317.02
World War Veterans Loan Fund:
Loans $ 3,810,622.00
Interest 52 , 088 . 90
Maintenance 11 ,491 .07
$ 3,874,201.97
Board of Education:
Loans for Bldg. School Houses . . $ 261 , 600 . 00
Salaries and Expenses 13.025.8S
Taxes on Swamp Lands 797.45
Refunds on sale vacant lands. . . 518.40
Transfer to Rodman Trust Fund
.
1 , 560 . 00
$ 277,510.73
Redemption of Bonds:
Public School Building 4 ]/2 % $ 250 ,000 . 00
Transfers
:
Gasoline Inspection $ 637 , 57 1 . 32
Oil Inspection 1 10 , 1 18 . 93
Automobile Theft Fund 42 , 581 . 47
Tolls Chowan River Bridge. .... 38 , 272 . 20
$ 828,543.92
Total Special Funds $ 45,098,867.97
Notes paid and renewed 13 , 750 , 000 . 00
Balance June 30, 1928 20,093,430.94
$ 97,773,940.09
STATEMENT OF BALANCES DUE DEPARTMENTS AND
INSTITUTIONS OPERATING ON APPROPRIATIONS
AND EARNINGS
N. C. College for Women, Greensboro, N", C:
RECEIPTS
Balance July 1, 1927 $ 60,488.72
Appropriation 440 , 000 . 00
Paid in by College 736 , 037 . 05
$ 1,236,525.77
DISBURSEMENTS
Auditor's Warrants Paid $ 1 , 192 . 285 . 25
Balance June 30, 1928 $ 44 , 240 . 52
Caswell Training School, Kinston, N. C:
RECEIPTS
Balance July 1, 1927 $ 3,321.74
Appropriation 155,000.00
Paid in by School 5,265.05
$ 163,586.79
DISBURSEMENTS
Auditor's Warrants Paid S 138 , 172 . 76
Balance June 30, 1928 $ 25 , 414 . 03
East Carolina Teachers College, Greenville, N. C:
RECEIPTS
Balance July 1, 1927 $ 22,874.93
Appropriation '. 165.000.00
Paid by College 199 , 768 . 73
3S7,643.66
DISBURSEMENTS
Auditor's Warrants Paid $ 352 , 696 . 62
Balance June 30, 1928 : $ 34 , 917 . 04
East Carolina Indtjstrail Training School, Rocky Mount, N. C:
RECEIPTS
Balance July 1, 1927 $ 1,357.13
Appropriations 16 , 000 . 00
Paid in by School 180,00
$ ' 17.537. 13
DISBURSEMENTS
Auditor's Warrants Paid $ 17, 214 . 99
Balance June 30, 1928 $ 322 . 14
34 Keport op State Treasurer
statement of balances due departments and institutions
OPERATING ON APPROPRIATIONS AND EARNINGS (Forward)
Home and Industrial School for Girls, Samarcand, N. C:
RECEIPTS
Balance July 1, 1927 $ 7,717.91
Appropriation 96 , 400 . 00
Paid in by School 2 , 421 . 42
S 106,539.33
DISBURSEMENTS
Auditor's Warrants Paid $ 95 , 762 . 64
Balance June 30, 1928 $ 10 , 776 . 69
Negro A. & T. College, Greensboro, N. C.
:
RECEIPTS
Balance July 1, 1927 $ 190 . 79
Appropriation 72 , 298 . 00
Paid in by College 89,615.20
Refunds 89.61
$ 162,229.60
DISBURSEMENTS
Auditor's Warrants Paid $ 161 , 667 . 70
Balance June 30, 1928 $ 561 . 90
N. C. School for Deaf, Morganton, N. C:
RECEIPTS
Balance July 1, 1927 $ 5 , 613 . 08
Appropriation 140,589.00
Paid in by School 5.616.46
$ 151,818.54
DISBURSEMENTS
Auditor's Warrants Paid $ 140,683.90
Balance June 30, 1928 $ 11,134.64
N. C. School for Deaf and Blind, Raleigh, N. C:
RECEIPTS
Appropriation $ 145 , 873 . 00
Paid in by School 14,402.44
$ 160,275.44
DISBURSEMENTS
Overdraft July 1, 1927 2,658.21
Auditor's Warrants Paid $ 157 , 350 . 15 —$ 160,008.36
Balance June 30, 1928 $ 267 . 08
Report of State Treasurer 35
statement of balances due departments and institutions
OPERATING ON APPROPRIATIONS AND EARNINGS (Forward)
Orthopaedic Hospital, Gastonia, N. C:
RECEIPTS
Balance July 1, 1927 $ 4,448.36
Appropriation 86 , 500 . 00
Paid in by Hospital 2,072.50
$ 93 , 020 . 86
DISBURSEMENTS
Auditor's Warrants Paid $ 84 , 739 . 75
Balance June 30, 1928 $ 8, 281. 11
State Hospital, Raleigh, N. C:
RECEIPTS
Balance July 1. 1927 $ 37 , 017 . 19
Appropriation 410 , 000 . 00
Paid in by Hospital '. 40 , 574 . 49
$ 487,591.68
DISBURSEMENTS
Auditor's Warrants Paid $ 416 , 728 . 33
Balance June 30. 1928 $ 70 . 863 . 35
State Hospital, Mobganton, N. C:
RECEIPTS
Balance July 1, 1927 $ 60,677.47
Appropriation 410,000.00
Paid in by Hospital 17 , 576 . 70
$ 488 , 254 . 17
DISBURSEMENTS
Auditor's Warrants Paid $ 44 , 220 . 17
Balance June 30, 1928 ! $ 44 , 034 . 00
State Hospital, Goldsboeo, N. C:
RECEIPTS
Balance July 1, 1927 $ 17,370.03
Appropriation 260,000.00
Paid in by Hospital 9 , 384 . 70
Refund 50 . 24
$ 286 , 804 . 97
DISBURSEMENTS
Auditor's Warrants Paid $ 256 , 468 . 76
Balance June 30, 1928 3 30,336.21
36 Keport of State Treasurer
statement of balances due departments and institutions
OPERATING ON APPROPRIATIONS AND EARNINGS (Forward)
Stonewall Jackson Training School, Concord, N. C:
RECEIPTS
Balance July 1, 1927 $ 9,340.96
Appropriation 145 , 000 . 00
Paid in by School 8 , 865 . 56
S 163,206.52
DISBURSEMENTS
Auditor's Warrants Paid $ 149,581.05
Balance June 30, 1928 $ 13,625.47
N. C. Tuberculosis Sanatorium, Sanatorium, N. C:
RECEIPTS
Balance July 1, 1927, Maintenance $ 6, 122.88
Balance July 1, 1927 Extension 485.90
Appropriation, Maintenance 135,000.00
Appropriation, Extension 20,000.00
Paid in by Sanatorium, Maintenance 122,348.64
Paid in by Sanatorium, Extension 1 , 368 . 89
$ 285,326.31
DISBURSEMENTS
Auditor's Warrants Paid
Maintenance $ 232,837.25
Auditor's Warrants Paid Extension. . 18,951.86
$ 251,789.11
Balance June 30, 1928 $ 33 , 537 . 20
University of North Carolina, Chapel Hill, N. C:
RECEIPTS
Balance July 1, 1927 $ 74,470.55
Appropriation 850,000.00
Paid in by University 564 , S88 . 54
$ 1,489.359.09
DISBURSEMENTS
Auditor's Warrants Paid $ 1,392,159.02
Balance June 30, 1928 $ 96 , 200 . 07
Cullowhee Normal School, Sylva, N. C:
RECEIPTS
Balance July 1, 1927 $ 5,862.91
Appropriation 55 , 000 . 00
Paid in by School 73 , 193 .04
$ 134,055.95
DISBURSEMENTS
Auditor's Warrants Paid $ 124,330.74
Balance June 30, 1928 $ 9,725.21
Report of State Treasurer 37
statement of balances due departments and institutions
OPERATING ON APPROPRIATIONS AND EARNINGS (Forward)
Appalachian Normal School, Boone, N. C:
RECEIPTS
Balance July 1, 1927 $ 15 , 173 . 98
Appropriation 58 , 000 . 00
Paid in by School 82 , 044 . 09
$ 155,218.07
DISBURSEMENTS
Auditor's Warrants Paid $ 136 , 932 . 88
Balance June 30, 1928 $ 18, 285 . 16
Cherokee Indian Normal School, Pembroke, N. C.
:
RECEIPTS
Balance July 1, 1927 $ 670 . 10
Appropriations 28 , 700 . 00
Paid in by School 6,236.99
$ 36,607.09
DISBURSEMENTS
Auditor's Warrants Paid $ 34 , 793 .91
Balance June 30, 1928. .'. $ 813. 18
Winston-Salem Teachers College, Winston-Salem, N. C:
RECEIPTS
Balance July 1, 1927 $ 11,536.70
Appropriation 45 , 000 00
Paid in by College 42,441.80
$ 98,978.50
DISBURSEMENTS
Auditor's Warrants Paid $ 91,365.44
Balance June 30, 1928 $ 7,613.00
Negro Normal School, Elizabeth City, N. C:
RECEIPTS
Balance July 1, 1928 $ 5,358.07
Appropriation 38 , 000 . 00
Paid in by School 44 ,£39 . 00
$ 88,297.07
DISBURSEMENTS
Auditor's Warrants Paid $ 84 , 150 . 08
Balance June 30, 1928 $ 4 , 146 . 99
38 Keport op State Treasurer
statement of balances due departments and institutions
OPERATING ON APPROPRIATIONS AND EARNINGS (Forward)
Negro Normal School, Fayetteville, N. C.
:
RECEIPTS
Balance July 1, 1927 $ 7,887.39
Appropriation 36,500.00
Paid in by School 42 , 252 . 76
$ 86,640.15
DISBURSEMENTS
Auditor's Warrants Paid $ 76 , 751 .71
Balance June 30, 1928 $ 9 , 888 . 44
N. C. College for Negroes, Durham, N. C:
RECEIPTS
Balance July 1, 1927 $ 1,272.78
Appropriation 35 , 000 . 00
Paid in by College 32,039.29
$ 68,312.07
DISBURSEMENTS
Auditor's Warrants Paid $ 64 , 240 . 49
Balance June 30, 1928 $ 4,071 .58
Morrison Training School, Hamlet, N. C:
RECEIPTS
Balance July 1, 192S $ .657 . 29
Appropriation $ 20,000.00
Paid in by School 2,225.41
S 22,882.70
DISBURSEMENTS
Auditor's Warrants Paid $ 20,026.67
Balance June 30, 1928 $ 2,856.03
N. C. College of A. & E., Raleigh, N. C:
RECEIPTS
Balance July 1, 1927 $ 4 , 544 . 74
Appropriation Maintenance 425,000.00
Appropriation, Farm Extension 175,000.00
Appropriation. Land Script Fund 7,500.00
Paid in by College 271,085.71
Transfer Federal Funds 260 , 856 . 06
$ 1,143,986.51
DISBURSEMENTS
Auditor's Warrants Paid
Maintenance $ 704 , 394 . 06
Auditor's Warrants Farm Extension. 394,163.84
$ 1,098,557.90
Balance June 30, 1928 $ 45,428.61
Report of State Treasurer 39
statement of balances due departments and institutions
OPERATING ON APPROPRIATIONS AND EARNINGS (Forward)
N. C. State's Prison, Raleigh, N. C.
:
RECEIPTS
Balance July 1, 1927 $ 18,304.95
Appropriation (contingent) 50 , 000 . 00
Paid in by Prison 706 , 301 . 28
$ 774 , 606 . 23
DISBURSEMENTS
Auditor's Warrants Paid $ 549 , 364 . 94
Balance June 30, 1928 $ 225,241.29
Board of Charities and Public Welfare, Raleigh, N. C:
RECEIPTS
Appropriation $ 3S, 850 . 00
Paid in by Board 241 . 70
$ 39,091.70
DISBURSEMENTS
Overdraft July 1, 1927 $ 2 . 99
Auditor's Warrants Paid 37,716.08
$ 37,719.07
Balance June 30, 1928 $ 1 , 372 . 63
Historical Commission, Raleigh, N. O.
:
RECEIPTS
Balance July 1, 1927 S 675.42
Appropriation 34 , 050 . 00
Paid in by Commission 508 . 49
$ 35,233.91
DISBURSEMENTS
• Auditor's Warrants Paid S 30 , 641 . 79
Balance June 30, 1928 $ 4 , 592 . 12
Laboratory of Hygiene, Raleigh, N. C:
RECEIPTS
Balance July 1, 1927 $ 6,455.50
Appropriation 70 , 000 . 00
Paid in by Laboratory 34 , 878 . 17
$ 111,333.67
DISBURSEMENTS
Auditor's Warrants Paid $ 104 , 957 . 68
Balance June 30, 1928 $ 6 , 375 . 99
40 Report of State Treasurer
statement of balances due departments and institutions
OPERATING ON APPROPRIATIONS AND EARNINGS (Forward*
N. C. Library Commission, Raleigh, N. C:
RECEIPTS
Balance July 1, 1927 .$ 527.01
Appropriation 26 , 000 . 00
Paid in by Commission 245 . 26
$ 26,772.27
DISBURSEMENTS
Auditor's Warrants Paid $ 25,337.76
Balance June 30, 1928 $ 1,434.51
N. C. Board of Health, Raleigh, N. C:
RECEIPTS
Balance July 1, 1927 Maintenance $ 8,212.74
Balance July 1, 1927 Federal Funds 26 , 166 . 39
Appropriation, Maintenance 360,000.00
Paid in by Board, Maintenance 14,964.36
Transfer of Federal Funds 22 , 000 . 00
Refunds : 501.21
$ 431,844.70
DISBURSEMENTS
Auditor's Warrants Paid
Maintenance $ 360 ,536 . 03
Auditor's Warrants Paid Federal
Funds 25,639.97
$ 386,176.00
Balance June 30, 1928 $ 45,668.70
State Librart, Raleigh, N. C:
RECEIPTS
Balance July 1, 1927 • • .. $ 16.50
Appropriation 14 , 000 . 00
Paid in by Library 158 . 43
$ 14,174.93
DISBURSEMENTS
Auditor's Warrants Paid $ 11,515.81
Balance June 30, 1928 $ 2,649.12
Keport of State Treasurer 41
statement of balances due departments and institutions
OPERATING ON APPROPRIATIONS AND EARNINGS (Forward)
Department Conservation and Development, Raleigh, N. C:
RECEIPTS
Balance July 1, 1927 $ 3, 127. IS
Appropriations 105 , 400 . 00
Paid in by Department 284 , 907 . 62
Refund to Department 180 . 43
Paid in by Division of Coastal Fisheries 51,565.70
S 445,180.93
DISBURSEMENTS
Auditor's Warrants Paid Departments 335,455.09
Auditor's Warrants Paid Fisheries. . . 51,836.35
$ 387,291.44
Balance June 30, 1928 $ 57 , 889 . 49
Total S 872 , 593 . 59
LITERARY FUND
LOANS OUTSTANDING FOR BUILDING SCHOOL HOUSES
BOARD OF EDUCATION
June 30, 1928
$ 12,200.00
8 , 940 . 00
800 . 00
5,350.00
10,320.00
11,520.00
24,850.00
44 , 200 . 00
17,700.00
40,450.00
17,600.00
18,580.00
Caldwell 9 , 600 . 00
1,900.00
38, 150.00
16,500.00
10,100.00
1,390.00
3 , 160 . 00
7,035.00
Clay. . 3,365.00
2 , 600 . 00
4,175.00
13,050.00
Cumberland 5,675.00
1 , 800 . 00
11,750.00
18,300.00
1,450.00
8,050.00
4 , 600 . 00
Edgecombe 9,330.00
43,750.00
19,900.00
12,900.00
6 , 900 . 00
22,850.00
14,300.00
Guilford 1 , 700 . 00
18,600.00
29 , 955 . 00
Herford
4 , 800 . 00
8 , 000 . 00
5,480.00
Hoke 14,150.00
Hyde 21,780.00
20 , 272 . 50
24 , 700 . 00
11,560.00
6,700.00
41,925.00
3,850.00
5,175.00
14,300.00
Kbport of State Treasurer 43
Literary Fund—Continued
Martin « 19 , 280 . 00
McDowell 15 , 400 . 00
Mecklenburg 22 , 220 . 00
Mitchell 1,950.00
Mongomery 31,950.00
Moore 21,050.00
Nash 6,200.00
New Hanover 3,000.00
Northampton 26 , 400 . 00
Onslow 6 , 205 . 00
Orange 19,825.00
Pamlico 11, 435 . 00
Pasquotank 3 , 150 . 00
Pender 19,215.00
Perquimans 100 . 00
Person 4 , 100 . 00
Pitt 38 , 500 . 00
Polk 1,530.00
Randolph 28,300.00
Richmond 7 , 950 . 00
Robeson 41,700.00
Rockingham 6 , 100 . 00
Rowan 10 , 200 . 00
Rutherford 7 , 774 . 00
Sampson 30 , 300 . 00
Scotland 3 , 000 . 00
Stanly 21 , 950 . 00
Stokes 15 , 300 . 00
Surry 13,200.00
Swain 1 , 170 . 00
Transylvania 3 , 100 . 00
Tyrrell 12 , 200 . 00
Union 10,315.00
Vance 15 , 950 . 00
Wake 23,535.00
Warren 7 , 710 00
Washington 920 . 00
Wayne 20,650.00
Wilkes 7 , 700 . 00
Wilson 43 , 700 . 00
Yadkin 22 , 460 . 00
Yancey 200 . 00
$ 1,344,931.50
44 Report of State Treasurer
PUBLIC SCHOOL BUILDING LOANS FROM PROCEEDS
BOND ISSUES SECURED BY TWENTY-PAYMENT-NOTES
TO BE APPLIED TO PAYING BONDS
AS THEY BECOME DUE
Counties
Alamance. .
.
Alexander. . .
Alleghany . . .
Anson
Ashe
Avery
Beaufort. . . .
Bertie
Bladen
Brunswick.
.
Buncombe. .
Burke
Cabarrus. . .
Caldwell...
.
Camden. . . .
Carteret. . .
.
Caswell
Catawba. . .
.
Chatham. . .
Cherokee. . .
Clay
Cleveland. .
Columbus . .
.
Craven
Cumberland
.
Currituck. .
.
Dare
Davidson. . .
Davie
Duplin
Durham
Edgecombe. .
Forsyth
Franklin
Gaston ......
Gates
Graham
Granville . . .
Greene
Guilford
Halifax
Harnett
Haywood
Henderson.
Hertford ...
Hoke
Hyde
Iredell
Jackson
Johnston. . . .
Jones
Lee
Lenoir
Lincoln
Laws 1921 Laws 1923
47
60
102
57
44
33
24
7
21
12
54
31
75
42
3
33
33
000$
750
625
010
900.
800
750.
125
000
500.
500
250
000
000
250.
375
750
250
670
500
050
350
750
250
050
120
775
600
500
750
250
750
000
000
450
500
150
000
500
600
450
750
750
500
000.
750
000
875
000
000
375
750
400
40,000$
32,000.
.
960. .
48 , 800
Laws 1925 Laws 1927
50,000$ 77,000$
8,000.
9,600
10,000
54 , 400
33 , 600
72,000
48,000
2,880
23 , 200
63 , 200
23 , 200
29 , 600
.
14,400.
61,600
15,200
84 , 000
43 , 200
27,200.
1 , 600
.
45 , 440
43 , 200
67,200
44,000
60,000
112,000.
80 , 000
91,200
35 , 200
80,000.
12 , 800
132,000
93 , 600
96,000
32,000.
56,000
2,400
20 , 000
.
22,400
43 , 200
136,000.
20,000.
13,120
72 , 000
59 , 200
51,300
94,500
36,000
90 , 000
64 , 800
.
106.200.
58,950
13,500
18,000.
54,000.
52 , 200
5,850
74,700
117,000
40 , 500
.
57 , 600
75,300
20,700.
136 , 750
81,000
55 , 800
85 , 500
139,500
39 , 600
55 , 500
.
84 , 250
139,500
81,000
115,200
63,000
34,550
10 , 500
117,000
36,000
62 , 200
.
112,500
67,500
20,000
50 , 000
40,000
35,000
35,000
49,000
20,000
60 , 000
24 , 000
51,000
25 , 000
50 , 000
25,000
30,000
3,500
30 , 000
55,000
44 , 500
50 , 000
63,000
20 , 000
12,500
33 , 000
50 , 000
50 , 000
90 , 000
45 , 000
60 , 000
66,000
20,000
60 , 000
27,000
67,000
30 , 000
Total
212,000
50,750
20,585
156,110
2,900
58,800
91,750
186,225
135 , 000
13 , 500
264 , 900
133,650
193,200
191,950
44 , 750
46,255
99 , 950
226 , 650
88 , 720
103,100
52,450
234.650
178,950
175,750
180,850
46,320
12,875
199,340
101,400
286 , 700
231,750
226,550
157,000
270 , 500
319,150
103 , 800
55 , 500
127,150
190,050
424,000
282,200
345 , 650
110,750
203 , 750
110,450
51,500
32,750
253,400
138,075
211,000
62,000
68,695
285 , 250
190,100
Report op State Treasurer 45
Public School Building Loans (Continued)
:
Counties Laws 1921 Laws 1923 Laws 1925 Laws 1927 Total
Macon $ 21,600 $ 21,600
Madison $ 18,750 S 72,000 85,500 176,250
Martin 29,450 68,800 31,500$ 60,000 179,750
McDewell 28,500 12,800 67,500 35,000 143,800
Mecklenburg 102,000 88,800 186,500 55.000 432,300
Mitchell 27,750 21,600 41,400 90,750
Montgomery 44,700 56,000 54,000 10,000 164,700
Moore 29,550 44,000 45,000 55,000 173,550
Nash 85,500 56,000 45,000 30,000 216,500
New Hanover 37 , 000 48 , 000 99 , 500 184 , 500
Northampton 25,125 12,400 25,200 75,000 137,725
Onslow 24,000 40,000 76,500 140,500
Orange 34,750 46,400 29,700 110,850
Pamlico 40,250 24,000 24,300 88,550
Pasquotank 33,000 28,000 54,000 115,000
Pender 54,400 47,500 101,900
Perquimans 17,250 36,800 20,700 74,750
Person 27,000 46,000 28,800 25,000 126,800
Pitt 59,150 64,000 70,200 27,500 220,850
Polk 14,000 32,000 36,000 82,000
Randolph 46,000 64,000 60,300 35,000 205.300
Richmond 38 , 250 33 , 600 67 , 500 139 , 350
Robeson SO , 500 54 , 000 95 . 000 229 , 500
Rockingham 67,500 72,000 45,000 184,500
Rowan 66,000 72,000 72,000 65,000 275,000
Rutherford 50,450 46,000 117,000 50.000 263,450
Sampson 20.000 27,550 31,500 79,050
Scotland 45 , 750 54 , 400 100 , 150
Stanly 46 , 000 48 , 800 63 , 000 50 . 000 207 , 800
Stokes 40,250 10,000 55,500 105,750
Surry 52,500 62,000 99,900 54.000 26S.400
Swain 18,750 32,000 9,000 59,750
Transylvania 15,000 32,000 40,500 S7.500
Tyrrell 6,000 18,000 24,000
Union 58,500 8,160 72,500 85,000 224,160
Vance 33,000 35,200 63,000 131,200
Wake 99,000 7,040 234,000 7S.000 488,040
Warren 36,700 36,000 27.000 99,700
Washington 37 , 500 : 37 , 500
Watauga 18,000 32,000 14.000 64,000
Wayne 57,750 68,000 85,600 211,350
Wilkes 51,000 51,200 54,000 156,200
Wilson 71,250 56,000 66,600 37,000 230,850
Yadkin 24,750 29,700 54,450
Yancey 27 , 775 45 , 000 72 , 775
Totals $ 3,753,150 $ 4,000,000 $ 4,962,500 $ 2,525,000 $15,223,400
46 Report of State Treasurer
STATE TREASURY
STATEMENT SINKING FUNDS
June 30, 1928
Invested:
No. 1 Highway Serial Bonds, Chapter 188, Public Laws 1923:
4V2 % Highway Bonds due Jan., 1933, 34, 35, 52,
1956, 57 S 304,000.00
4J/2% Edu. and Char. Inst. Bonds due Oct., 1963 110,000.00
4 3
4 % Gastonia School Bonds, due 1946, 59 100,000.00
5% Greensboro St. Improv. Bonds due 1931 1,000.00
4%% Goldsboro Improv. Bonds, due 1937, 55, 56 9,000.00
5% Raleigh School Bonds, due Oct. 1938 3,000.00
6% Craven County Funding Bonds due March
1936 8,000.00
6% Pitt County Road Bonds, due April 1945. . . . 1,000.00
5% City of Henderson St. Bonds due June 1953. 2,000.00
4V2 % Public School Bldg. Bonds due 1945 6,000.00
4% State Improvement Bonds due 1953 4,000.00
4% Highway Bonds, due July 1932 13,000.00
5% Highway Bonds, due July 1961 7,000.00
5% Inst. Bldg. Bonds due July 1961 2,000 00
$ 570,000.00
No. 2 Highway Serial Bonds Chapter 188, Public
Laws 1923:
4 M % General Fund Notes due July 1935 $ 76 , 000 . 00
4 J^%Public School Bonds, due 1944, 45, 49 14,000 .00
4^%Highway Bonds due 1938 to 1962 1,940,000.00
4H% Edu. and Char. Inst. Bonds due 1962 70,000.00
5% Granville Co. Improv. Bonds, due 1942 40,000.00
4 % Highway Bonds due July 1932 54 , 000 . 00
5 % Highway Bonds due July 1961 5 , 000 . 00
5% Edu. and Char. Inst. Bldg. due July 1961 37,000.00
$ 2,326,000.00
No. 3 Public School Special Bldg. Bonds Chapter,
147, Public Laws 1921:
4 y2 % Highway Bonds, due Jan. 1951 $ 447,000.00
4 14% General Fund Notes, due July 1935 61 ,000.00
4 y% % Inst. Bldg. Bonds, due Jan. 1966 344 , 000 . 00
4 % Highway Bonds due July 1932 33 , 000 . 00
5% Funding Bonds due Feb. 1947. . . .". 17,000.00
4%% Edu. and Char. Inst. Bldg. Bonds due Oct.
1963 10 , 000 . 00
4%% Public Improvement Bonds due Oct. 1963. 2,000.00
$ 914,000.00
No. 4 Public School Special Building Bonds, Chapter
136, Public Law 1923:
4 14% General Fund Notes, due July 1935 $ 64,000.00
4 3/2%Highway Bonds (registered) due 1932, 1952. 227,000.00
4 V2 % Highway Bonds due 1957, 1958 40 , 000 . 00
4% Highway Bonds, due July 1935, 37, 38 435,000.00
5% Funding Bonds, due Feb. 1947 18,000.00
4%% Inst. Bldg. Bonds due Jan. 1966 211,000.00
995,000.00
Report of State Treasurer 47
Statement of Sinking Funds (Continued)
:
Invested—Continued
No. 5 Educational and Charitable Institutional Bonds
Chapter 188, Public Laws 1923:
4V2 % Highway Bonds due Jan. 1933, 1935 $ 163,000.00
4}4% Public School Bonds, due Jan. 1931 23,000.00
4%% McDowell Co. Highway Bonds, due 1944 to
1954 100 , 000 00
5% Funding Bonds, due 1937 and 1942 315,000.00
5 y2 % Moore Co. School Bonds, due 1929 to 1946. 47,000.00
4H% Inst. Bldg. Bonds due 1966 55,000.00
4% Highway Bonds due July 1932 28,000.00
9 731.000.00
No. 6 Educational and Charitable Institution Bonds
Chapter 192, Public Law 1925:
4i/2 % Inst. Bldg. Bonds, due 1966 30 , 000 . 00
4% Highway Bonds, due July 1937 20,000 00
S 50,000.00
Total invested 9 5,496,000.00
Not Invested:
Cash in Bank at 3 % $ 462 , 845 . 90
Total Sinking Fund $ 5 , 958 , 845 . 90
STATE'S INVESTMENT IN RAILROAD AND
TURNPIKE COMPANIES
June 30, 1927
30,002 shares North Carolina Railroad Company stock $ 3,000,200
12,666 shares Atlantic and North Carolona Railroad Co. stock 1 ,266,600
1,013.27 shares Mattamuskeet Railroad Company stock 101 ,327
3,060 shares Elkin and Alleghany Railroad Company stock 306,000
2,650 shares Statesville Air Line Railroad Company stock 132,400
172 shares Transcontinental Railroad Company stock 17,200
552 shares Watauga and Yadkin River Railroad Company stock... . 55,200
6,381 shares Wilkesboro and Jefferson Turnpike Co. stock 63,810
71 shares Junaluska Turnpike Company stock 710
4,943,447
Turnpike stock is $10 per share, Statesville Air Line Railroad $50 and all others
$100 par. The State owns controlling interest in the North Carolina and the Atlantic
and N. C. Railroads.
COUNTY LOAN TRUST FUND
HELD TO CREDIT OF COUNTIES BALANCE OF
AMOUNT PAID BY HIGHWAY COMMISSION
June 30, 1928
Alexander County $ 92 ,000 . 00
Wake County 236 , 621 . 36
Jones County 180 ,000 .00
Pamlico County 00,714.44
Perquimans County 47 , 500 . 00
Madison County 13,559.10
Swain County 13 , 277 . 41
Invested $ 179,853.42
Cash, at interest 463,818.89$ 643,672.31 $ 643,672.31
STATE DEBT OF NORTH CAROLINA
June 30, 1928
4% State Hospital, dated July, 1909, due July, 1949. .$ 500,000
4% Refunding, dated July, 1910, due 1950 3,430,000
4% Administration Building, dated July, 1911, due
July, 1951 250,000
4% School for Feeble-Minded, dated July, 1911, due
July, 1951 60,000
4% Improvement, dated July, 1913, due July, 1953. . . 1,142,500
4% Refunding, dated Jan., 1913, due July, 1953 550,000
4% Edu. and Char. Inst. Imp. Serial, dated July, 1917
to 1920, due July, 1928 to 1938 1 ,068,500
5% State Funding Serial Bonds, dated Feb. 15, 1922,
due Feb., 1937, 1942, 1947, 1952 4,500,000
AM% General Fund Notes, dated July 1, 1925 due,
July 1, 1927 to 1935 8,588,000
$ 20,089,000
Educational and Charitable Institution Bonds:
5% dated July 1921, due July, 1961 $ 3,372,000
4y2 % dated Jan. 1, 1922 and 1926, due Jan., 1962 and
1966 ; 8,498,000
4J^% dated Oct. i, 1923, due Oct. 1, 1963 3,049,000
4U% date Oct. J, 1923, due Oct. 1, 1963 7,100,000
4%% dated Oct. 1, 1923, due Oct. 1, 1963 500,000 —
$
22,519,000
Public School Building Serial Bonds:
4J^% dated Jan. 1, 1922, 1923, 1926, due Jan., 1928-50. 9,585,000
4% dated Jan. 1, 192S due Jan., 1933 to 1941 1,100,000
4U% dated Jan. 1, 1927 due Jan., 1932 to 1951 5,000.000
$ 15,685,000
Highway Serial Bonds:
4% dated Jan, 1, 1927, due July, 1929 to 1948 $ 20,000,000
4% dated Jan. 1, 1928, due Jan., 1930 to 1941 6,000,000
4 U% dated Jan. 1, 1927, due 1930 to 1949 15,000,000
4H% dated Jan. 1922 to 1923, due July and Jan. 1932-
1962 25 , 000 , 000
5% dated July 1921, due July. 1931, 1941, 1951, 1961. 4,552,600
4H% dated Jan. 1, 1923, due Jan.. 1933 to 1937 1,250,000
4%% dated Jan., 1, 1923, due Jan., 193S to 1952 3,750,000
4 Vz% dated Jan., 1924 to 1926, due Jan.. 1930 to 1964 35,000,000
4K2 % dated Jan., 1925 due July, 1951 447,000
$ 110,999,600
Total Bonded Debt $ 169 , 292 , 600
Notes:
3.90% Notes anticipating Highway Bonds Sale,
(Chowan River Bridge) due Sept. 19, 1928 $ 600,000
3.90% Notes anticipating Highway Bond Sale, (Cape
Fear River Bridge) due Sept. 19, 1928 1 ,250,000
$ 1 , 850 , 000
Total State Debt $ 171 , 142 , 600
UNIVERSITY OF N.C. AT CHAPEL HILL
00033968118
This bookmust not be
taken from the Library