SIR: In accordance with the provisions of the Act of Assembly, approved June 1, 1885, the Commissioners of the Sinking Fund of the City of Philadelphia have the honor to submit herewith a report of their operations during the year 1907 and the present condition of the Sinking Funds of the City, and also a report of the Fire Insurance Fund of the City of Philadelphia, established by Ordinance of Councils, approved March 29, 1904. Loans amounting to $1,398,500 matured during the year; $432,500 of these loans were Sinking Fund loans, and were redeemed by us. Serial loans amounting to $966,000 were paid by direct appropriation of Councils. The Commissioners also paid overdue loans amounting to $4,300. During the year the following loans were issued: $4,000,000 loan, amount issued.... $13,500,000 loan, amount issued.. There was returned to the Commissioners during the year, by the Farmers' and Mechanics' National Bank, as unclaimed matured loans..... Total By these transactions the total Funded Debt of the $75,000 00 6,125,000 00 1,800 00 $6,201,800 00 $4,799,000 00 Fire Insurance Fund, During the year the Commissioners have paid for loss by fire as follows: Boys' Central High School, on account... Total The balance of this fund at this time in cash and securities amounts to..... Contracts for repairs to Boys' Central High School, not yet completed and still outstanding, amounts to Leaving an actual balance in the fund of....... $2,290 96 1,015 71 $3,306 67 $196,147 55 11,551 15 $184,596 40 For the detailed account of the Sinking Fund and Fire Insurance Fund we respectfully refer you to the accompanying tables. We remain, very respectfully yours, JNO. M. WALTON, LOUIS WAGNER, Commissioners of the Sinking Fund. |