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The Sinking Fund Commission takes pleasure in
<br />submitting herewith detailed statements sho�ing the
<br />financial condition of the Sinking Fund as of August
<br />31, 1939, as well as all transactions ti:hic3-i occurred
<br />during the fiscal year.
<br />The net earnings of the Sinking Fund was at the rate
<br />of 3.62 per cent.
<br />The actual reserve or amount of the Sinking Fund as of
<br />August 31, 1939, was $583.,521.77., whereas the amount of the
<br />required reserve was $582,825.10. There was, therefore, a
<br />difference (surplus) of $696.67 between the required and
<br />actual reserves.
<br />Respectfully submitted,
<br />SINKING FUND COMMISSION
<br />Chairman
<br />STATEdEIT OF THE SINKING FUND COMISSION FOR THE FISCAL YEAR ENDING
<br />AUGUST 31, 1939•
<br />Sinking Fund Sinking Fund as of September 1, 1938:
<br />Report
<br />Securities (Book Value)
<br />Cash
<br />Total
<br />Less: Retirement of Bonds
<br />Bonds Charged Off
<br />Total
<br />Increment:
<br />Interest
<br />Annual Appropriation
<br />Special Appropriation
<br />Profit from Sales of Securities
<br />(See II)
<br />Gross Increment
<br />Less: Disbursements:
<br />Accrued Interest on Bonds Bought
<br />CD
<br />Box rent, paper, and sale expense
<br />Total Disbursements
<br />Net Increment for Fiscal Year
<br />Sinking Fund as of August 31, 1939
<br />Securities (Book Value) (See Exhibit III)
<br />Cash (See Exhibit IV)
<br />$556,02..17
<br />2-2276.62
<br />5
<br />$322000.00 55,300.79
<br />27,390.00 599390.00
<br />$4982910.79
<br />$20,520.39
<br />35,624-08
<br />28,305.31
<br />717.50
<br />457.02
<br />99.73
<br />�; 85,167.78
<br />556.80
<br />$583,521.77
<br />$559,691.69
<br />23,830.08
<br />Book Value, Aubust 31, 1R38 $556202..17
<br />Liquidation Value August 31, 1938 438,807-92
<br />Difference in Book and Liquidation Value, August 31, 1938 $1172216.25
<br />Book Value, August 31, 1939 $559,691.69
<br />Liquidation Value , August 31, 1939 464,9117.94
<br />Difference in Book and Liquidation Value, August 31, 1039 $ 95,573.75
<br />Appreciation for Year $. 21.;,642-50
<br />THE SINIKING FUI`1D COIZTISSION
<br />LIST AND MARKET PRICES OF ALL SECUR-
<br />ITIES OWNED AS OF AUGUST 31, 1939•
<br />Value Close
<br />Amount
<br />Securities
<br />Cost
<br />Auof Market
<br />gust 31,1939
<br />Industrials and Rails
<br />#$12,000
<br />Richardson & Boynton 6k% 1937
<br />$ 12,112.50
<br />$ 180.00
<br />10,000
<br />Flour T..Zills of America 62% 1946
<br />9,900.00
<br />22450.00
<br />#
<br />17, 000
<br />Georgia -Carolina & Nor. R. R. 6% 1934
<br />17, 000.00
<br />2y932-50
<br />#
<br />16,000
<br />Chicago, Rock Island & Pacific 4.5",'1931
<br />15075.00
<br />880.00
<br />#
<br />10,000
<br />New Orleans, Texas &Mexico 5% 1935
<br />9,900.00
<br />31450.00
<br />
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