Annual report of the treasurer of the state of Georgia for period January 1st to December 31st, 1934

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THE LIBRARY OF THE UNIVERSITY OF GEORGIA

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of
THE TREASURER
of the
STATE OF GEORGIA
For Period
January 1st to December 31, 1934
State Treasurer

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LIST OF TREASURERS OF GEORGIA FROM 1781 TO 1934 INCLUSIVE

James Bryan John Lindsay Joseph Clay John Martin Seth John Cuthbert George Jones John Meals John Gibbons John Berrien Edwin Mounger George R. Clayton James Bozeman Hines Holt John Williams Thomas Haynes Benjamin B. Smith Walter H. Mitchell William B. Tinsley J. M. Patton Walter H. Mitchell John B. Trippe John Jones N. L. Angier John Jones J. W. Renfroe D. N. Speer R. U. Hardeman W. J. Speer R. E. Park J. Pope Brown W. J. Speer M. L. Ledford Geo. B. Hamilton

1781 1782 1782 1783-4 1785-6 1787 1788 to 1791 1792 to 1795 1796 to 1800 1801 to 1805 1806 to 1825 1826 to 1828 1829 to 1832 1833 1834 to 1841 1842 1843 to 1846 1847 to 1850 1851 1851-2 1853 to 1860 1861 to 1867 1868 to 1872 1872 to 1876 1876 to 1880 1880 to 1884 1884 to 1896 1896 to 1900 1900 to 1909 1909 to 1911 1911 to 1931 1931 to 1933 1933 to

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ORGANIZATION of
STATE TREASURY DEPARTMENT

GEO. B. HAMILTON, State Treasurer

HORACE A. HIXON, Cashier

JOHN A. BURCH, Bookkeeper

HARVEY B. JONES, Clerk

ESTELLE TOOTLE, Stenographer

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Hon. Eugene Talmadge, Governor of Georgia, Atlanta, Georgia.

January 19, 1935.

Dear Sir:

I beg to submit herewith my report of the operations of the State Treasury Department for the period begun January 1, and ended December 31, 1934, consisting of Fourteen Schedules as per index immediately preceding same.
I invite your attention to the comment appended hereto and made a part of this report.
Respectfully submitted, GEO. B. HAMILTON, State Treasurer.

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INDEX TO REPORT
SCHEDULE 1--Condensed Statement of Receipts and Disbursements General Treasury--January 1, to December 31, 1934.
SCHEDULE 2--Analysis of Receipts--General Treasury--January 1 to December 31, 1934.
SCHEDULE 3--Analysis of Disbursements--General Treasury--January 1 to December 31, 1934.
SCHEDULE 4--Analysis of Cash on Hand General Treasury, December 31, 1934.
SCHEDULE 5--Analysis of Balances on Deposit in State Depositories and Collateral, December 31, 1934.
SCHEDULE 6--Analysis of Collateral held by Bond Commissioner, December 31, 1934.
SCHEDULE 7--Analysis of Balances Due on Allocated Funds and Appropriations, December 31, 1934.
SCHEDULE 8--Analysis of Funded Debt against General Fund Revenue, December 31, 1934.
SCHEDULE 9--Analysis of Receipts and Disbursements, Delinquent Fuel Oil Tax, January 1, to December 31, 1934.
SCHEDULE 10--Analysis of Receipts and Disbursements, Insurrection Fund, January 1, to December 31, 1934.
SCHEDULE 11--Receipts and Disbursements Federal Industrial Rehabilitation Funds, January 1, to December 31, 1934.
SCHEDULE 12--Receipts and Disbursements Federal Vocational Education Funds, January 1, to December 31, 1934.
SCHEDULE 13--Analysis of Funds Received from United States Treasury for Highway Construction, January 1, to December 31, 1934.
SCHEDULE 14--Analysis of Receipts and Disbursements National Recovery Trust Account, January 1, to December 31, 1934.
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1

COMMENT

RECEIPTS AND DISBURSEMENTS:
These are reflected in detail on Schedule "2" and "3" and show the following comparison with the previous year.

Receipts Disbursements

1933

1934

$26,856,579.46 $26,563,127.99

25,967,148.44 23,413,309.96

Decrease
$ 293,451.47 2,553,838.48

It will be noted that the decreases in disbursements in Highway Depart-
ment of approximately $1,100,000.00 and repayment of temporary loans of approximately $1,200,000.00, account for practically the entire decrease of disbursements for 1934 as compared with the year 1933.

Analysis of Cash on Hand:
This is shown in detail on Schedule "4" and is self-explanatory.
Analysis of Balances on Deposit in State Depositories and Collateral:
This is reflected in detail in Schedule "5" and shows all balances fully covered by collateral, except in the three Atlanta Banks and the Guaranty Trust Company of New York. Due to the excess amount of cash brought about through the Highway Department's savings, there was more cash in the Treasury on December 31, than we had collateral. With approval of the State Auditor this excess was carried in the three Atlanta Banks without request for additional collateral, as its retention in the State Treasury will naturally be only of a short duration. The excess as shown in the Guaranty Trust Company of New York is necessitated by the fact that funds to cover interest and bonds due January 1, are necessarily deposited on or about the last day of December.
I have increased the number of State Depositories since the time I took office from fifty-two to eighty-six, thereby spreading the State money over a wider area rather than centralizing the funds in a few large banks.

Analysis of Collateral held by Bond Commissioner:
Schedule "6" sets forth in detail all collateral bonds held by me as Bond Commissioner of Georgia and is self-explanatory.

Analysis of Balances Due on Allocated Funds and Appropriations:

Schedule "7" reflects in detail the balances due and undrawn by the various

Governmental Agencies at December 31, 1934 as follows:

Allocated Funds

$ 5,819,747.74

Appropriations:

Years 1928-31

4,068,108.25

Year 1934

834,561.01

Total

10,722,417.00

The unpaid appropriations for years 1928 and 1931 show reduction of $15.00 from the previous year, which was brought about through a payment of $15.00 on past due pensions.
There was cash on hand in the General Treasury at December 31, 1934, of $6,697,860.85 to cover the unpaid and undrawn balances on allocated funds and 1934 appropriations amount to $6,654,308.75, which leaves a current cash surplus in the general fund at December 31, 1934, of $43,552.10. It will be noted that the state did not owe a single dollar of current loans, as has previously been the case, at the close of the year.

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Analysis of Funded Debt Against General Fund Revenue:

Schedule "8" reflects the valid funded debt against general fund revenue as at December 31, 1934, as follows:

Due University of Georgia Less Cash Reserve for Past Due Obligations

$ 378,702.17 62,000.00 $ 316,702.17

Due on Outstanding Bonds

Less Constitutional Sinking

Fund

$10,0,000.00

Reserve for Past Due Bonds-- 3,500.00

$3,898,500.00 103,500.00

3,795,000.00

Total

$4,111,702.17

It will be noted that $158,000.00 of the debt due the University of Georgia was due in 1933 and 1934 and has not been paid or refunded. This is due to the fact that the bonded debt to the State ;of Georgia can not be paid off and the present Law requires refunding at 3%%. These old obligations call for 7% and the contract with the Federal Government under which these grants were made states that they shall earn not less,than 5%. I believe that all of the bonded debt due the University should be refunded on a basis of 5%.
Up until the year 1935 the general bonds fell due in amounts of $100,000.00 per year and were paid by the Constitutional Sinking Fund of $100,000.00 appropriated by the Legislature. In 1935 there are $171,000.00 coming due of general bonds and $200,000.00 each year thereafter up to and including the year 1934. In my opinion the wisest course would be to refund the excess of over $100,000.00 which comes due each year, thereby doing away with the necessity for an appropriation in excess of the $100,000.00 sinking fund.
Analysis of Receipts and Disbursements Delinquent Fuel Oil Tax Fund:
Schedule "9" sets forth in detail all receipts and disbursements of this fund, which have been received and paid under Executive Order of June 9, 1933.
Analysis of Receipts and Disbursements Insurrection Fund:
Schedule "10" sets forth in detail the fund $62,500.00 which was borrowed by the Governor for Insurrection. There is now due the Fulton National Bank of Atlanta a balance of $52,624.02 on this note, for which the legislature will have to make an appropriation.
Miscellaneous:
Schedules "11," "12," "13," and "14" set forth in detail the Receipts and Disbursements of various Federal Funds handled by me as Treasurer.

Condensed Statement of Receipts and Disbursements General Treasury

JANUARY 1, TO DECEMBER 31, 1934

Total Receipts for Year 1934 Balance on hand, January 1, 1934

$26,563,127.99 3,548,042.82

Total to be accounted for

$30,111,170.81

Total Disbursements for year 1934 Balance on hand December 31, 1934

$23,413,309.96 6,697,860.85

Total accounted for

$30,111,170.81

SCHEDULE 1 9

mm

Analysis of Receipts--General Treasury

JANUARY 1, TO DECEMBER 31, 1934

SOURCE

ALLOCATED FUNDS

GENERAL FUNDS

Bank Examination Fees

$ 58,117.41

Carbonic Acid Gas Tax

Cigar and Cigarette Stamp Tax 1,022,942.26

Corporation Franchise Tax

Dividends on Stocks

Feed Inspection Fees

Fertilizer Inspection Fees

Fishing and Hunting Licenses 94,393.60

Fuel Oil Tax

13,878,249.75

Gross Receipts Tax

Income Tax

88,299.98

Industrial Relations

Assessments

64,201.89

Inheritance Tax

Insurance Companies Tax

Interest on Deposit

Kerosene Oil Tax

195,943.92

Land Title Registration Fees--

36.51

Machinery Equipment Tax

Malt Syrup Tax

Miscellaneous Fees

4,414.37

Motor Carriers Fees

50,257.50

Motor Carriers Mileage Tax___ 70,000.00

Motor Vehicle License Fees ___ 1,095,989.47

Naval Stores Inspection

2,384.81

Occupation Tax

Poll Tax

Professional Examination Fees 49,372.25

Professional Tax

Property Tax--General

Property Tax--Public Service

Corporation

Public Service Corporation

Assessments

67,736.08

Refunds

11,082.88

Rentals--Sundry

Rentals from W. & A. R. R.___ 540,000.00

Sales

3,040.55

Security Dealers Fees

8,851.01

Sewing Machine Tax

Soft Drinks Syrup Tax

National Forest Reserve

2,809.49

$ 956.55 31,033.92
377,383.50 2,410.00 45,440.68
174,731.46 2,919.39
426,340.64 89,759.37
1,677,699.63
119,377.14 907,864.87
63,027.08 984.64
1,680.00 27.28
18,198.42
2,050.43 94,247.01
428,756.21 267,485.21
48,661.43 3,698,754.47
734,444.23
119.42 28,407.42
552.23 273.74 1,360.00 10,057.89

TOTAL RECEIPTS

$17,308,123.73 $9,255,004.26

TOTAL
$ 59,073.96 31,033.92
$ 1,022,942.26 377,383.50 2,410.00 45,440.68 174,731.46 97,312.99
14,304,590.39 89,759.37
1,765,999.61
64,201.89 119,377.14 907,864.87
63,027.08 196,928.56
36.51 1,680.00
27.28 22,612.79 50,257.50 72,050.43 1,190,236.48
2,384.81 428,756.21 267,485.21
49,372.25 48,661.43 3,698,754.47
734,444.23
67,736.08 11,202.30 28,407.42 540,000.00
3,592.78 9,124.75 1,360.00 10,057.89 2,809.49
$26,563,127.99

SCHEDULE 2 10

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Analysis of Disbursements General Treasury

JANUARY 1, TO DECEMBER 31, 1934

DEPARTMENT

ALLOCATED FUNDS

GENERAL FUNDS

Agriculture

Audits

Banking

$ 59,480.40

Comptroller-General

Education:

Common School Appropriation

Equalization Fund

2,559,321.01

Entomology

Forestry and Geological

Game and Fish

75,705.74

Governor:

Office Maintenance

Supervisor of Purchases

Public Buildings and Grounds

Rewards

Publishing Notices

Publishing Acts and Journals

Insurance on Public Property

Highways

6,984,483.09

Industrial Relations:

Division of Commerce and

Labor

Workmen's Compensation Act 65,623.86

Law

Library:

Printing Reports of Supreme

and Appeals Court

Expenses of other Operations

Library Commission

Military

Naval Stores Supervising

Inspector

2,637.46

Prison Commission:

Maintenance

Prison Farm

(Baldwin County)

Prison Farm

(Tattnall County)

Public Health

Public Service Commission

106,509.03

Revenue Commission:

Cigar-Cigarette and Delin-

quent Tax

Income Tax

Motor Vehicle Registration.-

Secretary of State:

Administration of Law

Regulating Professions ___ 47,030.70

Administration of Securities

Law

8,930.70

Maintenance

11

$ 124,320.00 59,350.00 84,100.00
3,556,623.06 38,180.00 38,150.00
30,581.78 9,869.09 48,861.24 1,800.00
948.00 10,808.20
138.75
7,605.00 22,600.00
9,700.24 7,090.00 7,600.00 40,225.19
29,650.36 70,422.00 10,000.00 95,230.00
70,800.00 65,329.50 76,593.57
20,380.00

TOTAL
$ 124,320.00 59,350.00 59,480.40 84,100.00
3,556,623.06 2,559,321.01
38,180.00 38,150.00 75,705.74
30,581.78 9,869.09
48,861.24 1,800.00 948.00
10,808.20 138.75
6,984,483.09
7,605.00 65,623.86 22,600.00
9,700.24 7,090.00 7,600.00 40,225.19
2,637.46
29,650.36
70,422.00
10,000.00 95,230.00 106,509.03
70,800.00 65,329.50 76,593.57
47,030.70
8,930.70 20,380.00

Analysis of Disbursements--General Treasury (Continued)

DEPARTMENT

ALLOCATED FUNDS

GENERAL FUNDS

TOTAL

State Treasurer:

Sinking Fund on Public Debt-

Interest on Public Debt

Interest on Current Loans--

Redemption of W. & A.

Rentals

540,000.00

Counties Fuel Oil Tax

2,244,906.11

Maintenance

Expense of Supreme Court--

Expense of Court of Appeals-

Expense of Superior Courts-_

Veterans Service Office:

Pensions

1,006,383.80

Maintenance

Eleemosynary Institutions:

Maintenance

Public Welfare

Milledgeville Hospital

Tuberculosis Sanitorium

Mental Defectives School

School for Deaf

Academy for Blind

Training School for Boys

Training School for Girls

Confederate Soldiers' Home--

University System

Repayment of Common School

Loan

Legislative Expense

Refunds:

Ad Valorem Tax

Overpayments

Income Tax

14,544.32

National Forest Reserve

2,809.49

100,000.00 194,734.14 54,812.50
21,122.47 75.352.64 71,655.00 205,419.63
48.00 29,340.00
11,250.00 15,300.00 844,457.38 178,650.00 49,400.00 57,100.00 28,930.00 26,725.00 26,690.00 11.698.65 1,141,525.45
2,000,000.00 2,975.00
10,802.41

100,000.00 194,734.14 54,812.50
540,000.00 2,244,906.11
21,122.47 75,352.64 71,655.00 205,419.63
1,006,431.80 29,340.00
11,250.00 15,300.00 844,457.38 178,650.00 49,400.00 57,100.00 28,930.00 26,725.00 26,690.00 11,698.65 1,141,525.45
2,000,000.00 2,975.00
10,802.41 14,544.32
2,809.49

TOTAL DISBURSEMENTS_$13,718,365.71 $9,694,944.25 $23,413,309.96

SCHEDULE 3 12

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Analysis of Cash on Hand in General Treasury

DECEMBER 31, 1934

ADVANCES:

Bonds and Coupons

$

ALLOCATED FUNDS:

Sinking Fund for Public Debt_$ 100,000.00

Reserve for Past Due Bonds

and Interest

20,602.57

$ 120,602.57

552.50

Banking Department Education Department: Equalization Fund Sale of Automobiles

43,118.85 52,218.93

3,228.18 95,337.78

Game and Fish Department Highway Department
Fuel Oil Tax
Motor Vehicle Fees

4,666,183.31 81,865.09

4,748,048.40

27,618.27

Industrial Relations Dept Public Service Commission:
Motor Carriers Division Utilities Division

6,513.33 25,080.92

31,594.25

4,598.53

Income Tax Reserve Secretary of State:
Examining Boards Securities Division

13,762.20 951.94

282,053.59 14,714.14

Counties Fuel Oil Tax Land Title Registration Fund Pensions

427,000.09 3,350.16 78,704.32

TOTAL ALLOCATED FUNDS GENERAL FUNDS
TOTAL CASH BALANCE, DECEMBER 31, 1934

5,836,850.28 860,458.07
$6,697,860.85

SCHEDULE 4 13

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Analysis of Balances on Deposit in State Depositories and Collateral

DECEMBER 31, 1934

Name of Depository

Balance on Deposit

Amount of Collateral

Albany
Americus Ashburn Athens Atlanta
Augusta
Bainbridge Barnesville Brunswick
Butler Cairo
Calhoun Camilla Canton Cartersville Cedartown
Columbus
Cochran Cornelia Cumming Cordele Dahlonega Dalton
Dawson Decatur
Douglasville Dublin Eastman Elberton Ellijay Forsyth Franklin Gainesville

City National Bank

' 9,754.09 $ 10,000.00

Exchange National Bank Bank of Commerce

13,498.95 11,194.13

15,000.00 12,000.00

The Ashburn Bank

4,888.31

Citizens & Southern National Bank- 49,404.15

5,000.00 50,000.00

Cit. & Southern Natl., Main Office. _ 516,416.10 500,000.00

Cit. & Sou. Natl. Bank, Mitchell St.__ 90,481.76 100,000.00

First National Bank, Main Office-- 2,469,238.51 1,600,000.00

First National Bank, West End

11,580.69 15,000.00

Fulton National Bank

1,498,940.64 800,000.00

Fulton National Bank, Buckhead-- 96,219.27 100,000.00

Trust Company of Georgia

93,750.00 100,000.00

East Atlanta Bank

4,502.00

5,000.00

Citizens & Southern National Bank-

47,000 50,000.00

Georgia Railroad Bank & Trust Co._ 49,039.70 50,000.00

First National Bank

9,588.71 10,000.00

First National Bank

9,357.28 10,000.00

National Bank of Brunswick

24,223.75 25,000.00

Brunswick Bank & Trust Company- 21,581.12 25,000.00

Citizens State Bank

4,786.62

5,000.00

Cairo Banking Company

4,680.41

5,000.00

Citizens Bank

4,503.75

5,000.00

Calhoun National Bank

9,555.94 10,000.00

Bank of Camilla

9,314.71 10,000.00

Bank of Canton

20,000.00 20,000.00

First National Bank

39,763.68 40,000.00

Commercial Bank

14,992.94 15,000.00

Liberty National Bank

4,500.00

5,000.00

First National Bank

19,197.71 20,000.00

Home Savings Bank

4,000.00

5,000.00

Cochran State Bank

4,897.97

5,000.00

Cornelia Bank

9,800.91 10,000.00

Bank of Cumming

4,764.60

5,000.00

First National Bank

9,723.30 10,000.00

Bank of Dahlonega

5,650.56

6,000.00

First National Bank

29,787.50 30,000.00

Hardwick Bank & Trust Company

4,000.00

5,000.00

Bank of Dawson

4,878.04

5,000.00

.First National Bank

49,901.99 50,000.00

Fulton National Bank First National Bank

49,532.72 4,927.79

50,000.00 5,000.00

Citizens & Southern Bank Bank of Eastman

14,896.34 4,943.47

15,000.00 5,000.00

First National Bank Bank of Ellijay Monroe County Bank Bank of Heard County Citizens Bank Gainesville National Bank

9,700.00 7,366.04 4,833.83
9,992.67 9,565.07 4,500.00

10,000.00 7,500.00 5,000.00 10,000.00
10,000.00 5,000.00

14

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Analysis of Balances on Deposit in State Depositories and Collateral (Continued)

Name of Depository

Balance on Deposit

Amount of Collateral

Glennville

Glennville Bank

Greenville

Greenville Banking Company

Griffin

Commercial & Savings Bank

Jefferson

First National Bank

Jesup

Brunswick Bank & Trust Company.

Jonesboro

Bank of Jonesboro

LaFayette

Bank of LaFayette

Lawrenceville__.Brand Banking Company

Lumpkin

Farmers State Bank

Macon

First National Bank & Trust Co

Madison

First National Bank

Manchester Bank of Manchester

Marietta

First National Bank

Merchants & Farmers Bank

McRae

Merchants & Citizens Bank

Milledgeville Exchange Bank

Monroe

Bank of Monroe

Moultrie

Moultrie National Bank

Mount Vernon__Mount Vernon Bank

New York

Guaranty Trust Company

Rome

First National Bank

National City Bank

Savannah

Citizens Bank & Trust Company

Savannah Bank & Trust Company. _

Summerville Farmers & Merchants Bank

Swainsboro The Central Bank

Sylvania

Bank of Screven County

Thomaston Citizens & Southern Bank

Thomasville Commercial Bank

Tifton

Bank of Tifton

Valdosta

Citizens & Southern National Bank.

Vidalia

Darby Banking Company, Inc

Vienna

Citizens Bank

Waycross

Commercial Bank

Waynesboro First National Bank

Woodbury

Woodbury Banking Company

4,787.88 5,000.00 9,427.30 9,600.05 9,689.22
9,786.03 4,958.57
5,000.00 4,256.48
23,829.90 4,998.68
5,000.00 29,500.73
4,872.00 4,500.00 4,788.03 14,106.66
9,735.06 5,729.87
150,753.63 9,500.00
49,056.03 24,939.73
49,902.74 9,651.18 4,786.56 4,500.00
4,752.20 1,527.06 9,500.32
39,530.68 4,700.00 4,900.09
14,498.12
9,696.48 4^500.00

5,000.00 5,000.00 10,000.00 10,000.00 10,000.00 10,000.00 5,000.00 5,000.00 5,000.00 25,000.00 5,000.00 5,000.00 30,000.00 5,000.00 5,000.00 5,000.00 15,000.00 10,000.00 6,000.00 50,000.00 10,000.00 50,000.00 25,000.00 50,000.00 10,000.00 5,000.00 5,000.00 5,000.00 10,000.00 10,000.00 40,000.00 5,000.00 5,000.00 15,000.00 10,000.00 5,000.00

TOTAL BALANCE ON DEPOSIT TOTAL COLLATERAL

$5,975,879.00 $4,356,500.00

SCHEDULE 5 15

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Analysis of Collateral Held By Bond Commissioner
DECEMBER 31, 1934

NAME

TYPE OF COLLATERAL

AMOUNT DETAIL

TOTAL

DOMESTIC INSURANCE COMPANIES:

Atlanta Life Insurance Co

Mun. & Co.

$100,000.00

Bankers Health & Life Ins. Co._ Mun. & Co.

127,000.00

Guaranty Life Insurance Co.__Mun. & Co. & U. S. 100,000.00

Industrial Life & Health Ins. Co. Ga. & Mun.

100,000.00

Pilgrim Health & Life Ins. Co._ Mun. & Co.

100,000.00

Progressive Life Ins. Co

Mun.

18,500.00

Southern Mutual Ins. Co

Ga.

100,000.00

State Mutual Life Ins. Co

Ga. Mun. & Co. 102,000.00

TOTAL DOMESTIC INSURANCE COMPANIES

$747,500.00

WORKMEN'S COMPENSATION INSURANCE COMPANIES:

American Mutual Liability Co._ U. S.

$ 50,000.00

Liberty Mutual Ins. Co

U. S.

50,000.00

Lumberman's Mut. Casualty Co. U. S.

50,000.00

Maryland Casualty Co

U. S.

50,000.00

U. S. Fidelity & Guaranty Co._ U. S.

50,000.00

TOTAL WORKMEN'S COMPENSATION INS. COMPANIES

$250,000.00

SURETY COMPANIES:
Aetna Casualty & Surety Co.__ American Bonding Company American Employers American Mutual Liability American Surety Co Century Indemnity Co Columbia Casualty Co Commercial Casualty Ins Continental Casualty Eagle Indemnity Co Employers Liab. Assur. Corp.__ Fidelity & Casualty Co Fidelity & Deposit Co. of Md.__ Fireman's Fund Indemnity Co._ Glens Falls Indemnity Co Globe Indemnity Co Great American Indemnity Co._ Hartford Accident & Indem. Co. Home Indemnity Co Massachusetts Bonding Co Metropolitan Casualty Co National Surety Corp New Amsterdam Casualty Co._ New York Casualty Ins. Co Ohio Casualty Ins. Co Public Indemnity Co Royal Indemnity Co Seaboard Surety Co

Co. U. S. U. S. U. S. U. S. Mun. U. S. U. S. U. S. U. S. U. S. U. S. U. S. U. S. U. S. U. S. U. S. Mun. U. S. U. S. U. S. U. S. U. S. U.S. U. S. U. S. U. S. U. S.

$ 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00

16

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Analysis of Collateral Held By Bond Commissioner (Continued)

NAME

TYPE OF COLLATERAL

AMOUNT DETAIL

TOTAL

Standard Accident U. S. Casualty Co
U. S. Fidelity & Guaranty Co.__ U. S. Guarantee Co

U. S. U. S.
U. S. U.S.

25,000.00 25,000.00
25,000.00 25,000.00

TOTAL SURETY COMPANIES

$850,000.00

FIRE INSURANCE COMPANIES:
Aetna Fire Agricultural Albany Insurance Co Allemania Fire Alliance Allied American Mutual Allstate Insurance Co American American Alliance American Automobile American Auto Fire American Central American Druggist American Eagle American Equitable AssuranceAmerican & Foreign American Fire & Marine American Reserve Anchor Insurance Associated Fire & Marine Atlantic Mutual Fire Atlas Assurance Automobile Insurance Baltimore American Bankers & Shippers Berkshire Mutual Fire Birmingham Fire Boston British General British American Buffalo Ins. Co Caledonian California Ins. Co Camden Fire Carolina Ins. Co Carolina Mutual Central Mfgs. Mutual Century Ins. Co. Ltd Citizens City of New York
Columbia Columbia Fire Commercial Union

Mun. & U. S. u. S. u. S.
u' S. u! S.
u. S. U. S. \j[ s.
u. S. U. S. U. S. u. S.
U. S. U. S. U. S.
U.S. U. S.
U. S. U. S. U. S. Ga. & U. S. U. S.
U. S. U. S.
U. S. U. S.
U. S. U. S. U. S.
U. S. U. S.
U. S. U.S.
Co. & U. S.
U. S. U. S. U.S.
U. S.
U. S. Mun.
U. S. U. S. U. S.

17

$25,000.00 25,000.00 25,000.00
25,000.00 25,000.00
25,000.00 25,000.00 25,000.00
25,000.00 10,000.00 25,000.00 25,000.00
25,000.00 25,000.00 25,000.00
25,000.00 10,000.00
10,000.00 25,000.00 10,000.00 10,000.00 25,000.00
25,000.00 10,000.00
25,000.00 10,000.00
25,000.00 25,000.00 25,000.00
25,000.00 25,000.00
25,000.00 25,000.00
25,000.00
10,000.00 25,000.00 25,000.00
25,000.00
25,000.00 10,000.00
25,000.00 25,000.00 25,000.00

Analysis of Collateral Held By Bond Commissioner (Continued)

NAME

TYPE OF COLLATERAL

AMOUNT DETAIL

TOTAL

Commercial Union Fire Commonwealth Ins. Co Concordia Fire Continental Connecticut Dixie Fire Eagle Star & British Dominions East & West Insurance Co Empire State Equitable Fire & Marine Export Ins. Co Federal Federal Union Fidelity & Guar. Fire Corp Fidelity-Phoenix Fire Asso. of Philadelphia Fireman's of Newark Fireman's Fund of San Fran. Fitchburg Mutual First American Franklin Fire Franklin National General Exchange Ins. Corp General Ins. Co. of America Girard Fire & Marine Glen Falls
Globe & Republic Grain Dealers Natl. Mutual Granite State Fire Great American Halifax Fire
Hardware Dealers Mutual FireHardware Mutual Fire Hartford Hanover Fire Harmonia Fire Home Fire & Marine of Calif. _ Home of New York Homestead Fire Homeland Insurance
Indiana Lumbermen's Mutual Insurance Co. of North America Insurance Co. of PennsylvaniaLincoln Fire Liverpool & London & Globe London & Lancaster Ltd London & Provinc'l M. & G. Ltd. London Assurance London & Scottish Assur. Corp.
Lumber Mutual Lumbermans Insurance Co

U. S.
Uu.. sS.. u. s. uu.. ss.. u. s. Cuo. . s&. U. S. u. s. u. s. u. s. uu.. ss.. u. s. u. s. u. s. u. s. uu.. ss..
Mun.
Uu.. sS.. uuu... sss... u. s. u. s. u. s. u. s. uu.. ss..
U. S. & Mun. U. S.
Uu.. Ss.. u. s. u. s. u. s. u. s. u. s. uu.. ss.. uuuuuu...... ssssss......
Mun. & U. S. U. S.

26,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00
25,000.00 25,000.00 10,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 10,000.00 25,000.00 25,000.00 25,000.00 25,000.00 10,000.00 25,000.00 10,000.00 10,000.00 25,000.00 25,000.00
25,000.00 25,000.00 10,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00

18

m*am

,.,,-..,-..

wmmm

Analysis of Collateral Held By Bond Commissioner (Continued)

NAME

TYPE OP COLLATERAL

AMOUNT DETAIL

TOTAL

Lumberman's Mutual of Ohio Lumbermen's Underwriting All. Manhattan Fire & Marine Mfg. Lumbermen's Underwrit-- Marine Insurance Limited Maryland Insurance Massachusetts Fire & Marine Mechanics of Philadelphia Mercantile of America Merchants Mechanics & Traders Merrimack Mutual Millers Mutual Fire Association Merchants Fire Assurance Corp. Mercury Ins. Co Michigan Fire & Marine Millers Mutual of Texas Mill Owners Mut. Fire Ins. Co._ Milwaukee Mechanics Minn. Implement Mutual Monarch Fire National Ben Franklin National Liberty of America National Mutual National Retailers Mutual National Security Fire National Union National Newark Fire New Brunswick New Hampshire New Jersey New York Underwriters
Niagara New England Fire Northern Assurance Norwich Union North British & Mercantile Northern Insurance Co Northwestern F. & M Northwestern M. Association Northwestern National Ins. Co. North River Occidental Ohio Hardware Mutual Ins. Co. Old Colony Ins
Orient Pacific Fire Pennsylvania Millers Mutual-- Penn. Lumberman's Mut Palatine

U. S.

U. S.

Uuu... ssS... u. s. u. s. uu.. ss..

Mun. & U. S.

U. S.

U. S.

U. S.

U. S.

U. S.

Mun. & U. S.

U. S.

Co. & U. S.

U. S.

U. S.

U. S.

U. S.

U. S.

U. S.

Uu.. sS.. u. s. u. s. u. s. u. s.

Ga. & U. S.
Mun. &u. s.

U. S.

Ga. & U. S.

Uu.. Ss..

u. s.

u. s.

uu.. ss.. & Co.

u. s.

uu.. ss..

u. s.

u. s.

u. s.

uu..

ss..

& &

Mun. Mun.

Mun. & Co.
Mun. & u. s.

U. S.

19

25,000.00
25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 10,000.00 25,000.00 25,000.00 25,000.00 25,000.00
25,000.00 10,000.00 25,000.00 25,000.00 25,000.00 10,000.00 25,000.00 25,000.00
25,000.00 25,000.00 25,000.00 25,000.00 10,000.00
10,000.00 25,000.00 25,000.00 10,000.00
25,000.00 12,000.00 25,000.00 25,000.00
25,000.00 25,000.00 25,000.00
25,000.00 25,000.00 25,000.00
25,000.00
25,000.00 25,000.00 25,000.00
25,000.00 25,000.00
25,000.00 25,000.00
25,000.00
25,000.00 10,000.00
25,000.00
25,000.00

IMam

Analysis of Collateral Held By Bond Commissioner (Continued)

NAME

TYPE OF COLLATERAL

AMOUNT DETAIL

TOTAL

Potomac
Patriotic Ins. Co. of America Pearl Assurance Co., Ltd Pennsylvania Peoples National Philadelphia F. & M Philadelphia National Phoenix of Hartford Phoenix Assurance of LondonProvidence-Washington Queen
Reciprocal Exchange Rochester American Reliance
Rhode Island Ins. Co Richmond Royal
Royal Exchange Scottish Union & National Seaboard Fire & Marine Security of New Haven Sentinel Fire Ins. Co Southern Home Southern Fire, N. C Southern Fire, N. Y Springfield F. & M St. Paul Fire & Marine Sun Fire of London Sun Underwriters Ins Standard Fire Standard Insurance Standard Marine Ltd State Farm Mutual Auto Star Insurance Co. of AmericaStuyvesant
Superior Fire
Thames & Mersey Marine
The Tokio Marine
Transcontinental
Travelers Twin City Fire Union Fire, Accident & General Union Assurance Society Ltd.__ United States Fire United Mutual Fire Union Ins. Society of Canton-- Universal Underwriters
Virginia Fire & Marine Victory Insurance Co Western Millers Mutual

Uu.. Ss.. u s. u. s.
Mun.
U. S. U. S. U. S. U. S. Mun. & U. S. U. S. U. S. U. S. U. S. Mun. & U. S.
Uu.. sS.. u. s. u. s. u. s. u. s. u. s. u. s. u. s. u. s.
Ga. & U. S. Co. & U. S. Mun. & U. S.
Uu.. sS.. u. s. u. s. u. s. u. s.
Mun.
U. S.
U. S. U. S.
U. S.
u. s. u. s. u. s. u. s. u. s. u. s. u. s. u. s. u. s. u. s. u. s.

10,000.00 25,000.00 25,000.00 25,000.00 10,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 10,000.00 10,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 10,000.00
25,000.00
25,000.00 25,000.00
25,000.00 25,000.00 25,000.00 25,000.00 26,000.00 25,000.00 25,000.00 25,000.00 25,000.00 10,000.00 25,000.00 25,000.00

20

.--....,.-

MMmmmmmmmmmmm

wmamwmm

Analysis of Collateral Held By Bond Commissioner

(Continued)

NAMF

TYPE OP COLLATERAL

AMOUNT DETAIL

TOTAL

Westchester Western Assurance World Fire & Marine
Yorkshire Ins. Co Zurich Fire

U. S. U. S. U. S.
U. S. U. S.

25,000.00 25,000.00 25,000.00
25,000.00 10,000.00

TOTAL FIRE INSURANCE COMPANIES

RECIPROCAL EQUALIZATION COLLATERAL:

Maryland Life Ins. Co

Mun.

Pacific Mutual Life Ins. Co

Surety

$4,554,000.00
$60,000.00 20,000.00

TOTAL RECIPROCAL EQUALIZATION COLLATERAL STATE DEPOSITORIES COLLATERAL

80,000.00 4,356,500.00

MISCELLANEOUS COLLATERAL:

J. B. Pound, Lease of Hotel

Property at Chattanooga

U. S.

N. C. & St. L. Rwy, Lease of

W. & A. R. R

U. S. & Ga.

$ 9,550.00 600,000.00

TOTAL MISCELLANEOUS COLLATERAL

609,550.00

TOTAL COLLATERAL HELD BY BOND COMMISSIONER $11,447,550.00

SCHEDULE 6 21

^^MHMIMWI

Analysis of Balance Due On Allocated Funds and Appropriations

DECEMBER 31, 1934

nrnjuTi^HT DEPARTMENT,

PET TCn.

ALLOCATED FUNDS

GENERAL FUNDS

1928-31

1934

TOTAL

Agricultural Auditing Banking Comptroller General Education

Eleemosynary Institutions:
Board of Control Academy for Blind Confederate Soldiers Home Public Welfare Div School for Deaf School for Mental Defectives State Hospital Tuberculosis Sanitorium Training School for Boys Training School for Girls Entomology Forestry & Geology Game & Fish

Governor: Maintenance Insurance on Public Property Public Bldgs. & Grounds Publishing Acts Publishing Notices Rewards Supervisor of Purchases
Highway Industrial Relations Law

Library:

Operations

.

Printing Reports

Library Commission

Military: Operations Riot Duty

Prison Commission: Maintenance Farm--Baldwin County Farm--Tattnall County
Public Health Public Service Commission Regents U. of Ga. System

Revenue Commission: Cigar & Cigarette Delinquent Income Tax Division

$

$

3,228.18

95,337.78 2,756,183.12

1,140.00 2,275.00
3,850.00 254,390.44

$ 1,140.00 2,275.00 3,228.18 3,850.00
3,105,911.34

138,077.40 5,574.77 2,063.00
27,618.27

525.00 1,330.00
525.00 700.00 2,625.00 2,275.00 43,236.40 8,225.00 1,225.00 1,225.00 1,750.00 1,750.00

525.00 1,330.00
525.00 700.00 2,625.00 2,275.00 181,313.85 8,225.00 6,799.77 3,288.00 1,750.00 1,750.00 27,618.27

4,754,561.73 4,598.53

1,640.35 5,000.00 3,038.76
966.80 6,902.00 1,570.00
350.00
350.00 1,050.00

1,640.35 5,000.00 3,038.76
966.80 6,902.00 1,570.00
350.00 4,754,561.73
4,948.53 1,050.00

280.00 666.93 350.00

280.00 666.93 350.00

2,111.35 239.40

2,111.35 239.40

25,080.92

5,448.01 629,176.55

1,050.00 3,150.00 1,775.00 4,375.00
146,250.00

1,050.00 8,598.01 1,775.00 4,375.00 25,080.92 775,426.55

2,975.00 14,504.87

2,975.00 14,504.87

22

~""-"

'"

;^^1^.^^^^...---.>J^^..^.....-...a^i^,nt,|.fr^^..>ll^^J|t[nM.

Analysis of Balance Due On

Allocated Funds and Appropriations (Continued)

nPDTjTMTMT v*vn DEPARTMENT, ETC.

ALLOCATED FUNDS

GENERAL FUNDS

1928-31

1934

TOTAL

Income Tax Reserve Motor Vehicle Division
Secretary of State: Operations Examining Boards Securities Division
State Treasury: Operations Counties Fuel Oil Tax Interest on Current Loans Interest on Fixed Public Debt Land Title Registrations Legislative Expense Principal of Public Debt Court of Appeals Superior Court Supreme Court
Veterans Service Office: Operations Pensions

282,053.59
13,762.20 951.94
427,000.09 3,350.19
103,500.00
78,704.32

531.585.40

3,187.77
936.25
914.62 178,596.63 45,822.06
1,601.23 62,000.00 7,600.00 3,445.61 3,939.49
875.00

282,053.59 3,187.77
936.25 13,762.20
951.94
914.62 427,000.09 178,596.63
45,822.06 3,350.19 1,601.23 165,500.00 7,600.00 3,445.61 3,939.49
875.00 610,289.72

TOTAL ALLOCATED FUNDS
TOTAL UNPAID APPROPRIATIONS FOR YEARS 1928-31
TOTAL UNPAID APPROPRIATIONS FOR YEAR OF 1934
TOTAL UNPAID BALANCES

$5,819,747.74
$4,068,108.25
$ 834,561.01 $10,722,417.00

ANALYSIS OF DEFICIT, DECEMBER 31, 1934

Cash on Hand Unpaid Appropriations for Years
1928-31 Less: Cash Surplus General Fund.

$6,697,860.85
$4,068,108.25 43,552.10

Net Deficit

4,024,556.15

TOTAL

$10,722,417.00

SCHEDULE 7 23

mm

Atata

--^1

Analysis of Funded Debt Against General Fund Revenue

DECEMBER 31, 1934

DESCRIPTION

MATURITY
DATE

RATE OF INTEREST

AMOUNT

DETAIL

TOTAL

DUE UNIVERSITY OF GEORGIA:

Issue of 1883

1933

1884

1934

1885 May, 1935

1885 July, 1935

1886 April, 1936

1889 Feb., 1939

1890 Oct., 1940

1892 July, 1942

1896 July, 1946

1908 Jan., 1958

1909 Jan., 1959

Land Script Fund (Not Bonded)

7 %
7 % 7 % 7 % 7 % 7 %
7 % 3%% 3l/2% 7 %

$ 62,000.00 96,000.00 86,000.00
7,000.00 "1,000.00~~N 15,000.00 3,000.00 2,500.00
_ 7,000.00-^ 2,000.00 7,000.00
90,202.17

TOTAL VALID DEBT DUE UNIVERSITY OF GEORGIA

$ 378,702.17

CASH RESERVE FOR PAST DUE OBLIGATIONS 62,000.00

NET VALID DEBT DUE UNIVERSITY OF GEORGIA

$ 316,702.17

GENERAL BONDS: Issue of 1866
1876 1877 , 1890 Jan., 1915 July, 1915 July, 1915 July, 1915 July, 1915 July, 1915 July, 1915 July, 1915 July, 1915 July, 1915 July,
July, 1922 July, 1926 July,

1886__ 1896189719351935193619371938_. 1939-_ 19401941__ 1942_. 1943__ 1944_. 194519451946-

31/2%
4%% 4%% 414% 41/4%
41/4% 41/4%
41/4%
4V4%
41/4%
4%%
41/4%
4%%
41/4%

$ 1,500.00 1,000.00 1,000.00
33,000.00 138,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 1,525,000.00 173,000.00 226,000.00

TOTAL VALID GENERAL BONDS

$3,898,500.00

Constitutional Sinking Fund Reserve for Past Due Bonds

$100,000.00 3,500.00

103,500.00

NET VALID GENERAL BONDS

$3,795,000.00

TOTAL NET VALID FUNDED DEBT SCHEDULE 8

$4,111,702.17

24

--



Analysis of Receipts and Disbursements Delinquent Fuel Oil Tax Fund

JANUARY 1, TO DECEMBER 31, 1934

RECEIPTS:
Baldwin County Bibb County Burke County Clay County Colquitt County Crisp County Dooly County Dougherty County Early County Effingham County Floyd County Fulton County Jeff Davis County Laurens County Muscogee County Putnam County Richmond County Sumter County Terrell County Telfair County Tift County Wilcox County City of Albany City of Columbus City of Macon The Curry Co Hutts Garage

$ 1,000.00 8,644.20 4,530.20 2,577.00 2,000.00 1,000.00 600.00 500.00 7,000.00 2,000.00 13,505.10 485.04 1,000.00 4,000.00 3,500.00 1,000.00 500.00 2,000.00 1,818.10 2,000.00 1,000.00 500.00 1,200.00 2,476.76 3,377.52 2,438.74 847.11

TOTAL RECEIPTS Balance On Hand Jan. 1, 1934

$ 71,499.77 17,099.20

TOTAL TO BE ACCOUNTED FOR

$ 88,598.97

DISBURSEMENTS: J. P. Peacock Tom Wisdom, State Auditor. J. T. Goree, Asst. Atty. Gen._
TOTAL DISBURSEMENTS Balance on Hand Dec. 31,1934
TOTAL ACCOUNTED FOR

$ 6,250.00
11,701.07 653.12

18,604.19 69,994.78

$ 88,598.97

SCHEDULE 9 25

Analysis of Receipts and Disbursements Insurrection Fund

JANUARY 1, TO DECEMBER 31, 1934

RECEIPTS: Loan from Fulton Natl. Bank

$ 62,500.00

' TOTAL TO BE AC-

COUNTED FOR

$

62,500.00

DISBURSEMENTS: By Executive Orders: For Expenses Interest on Note Part Payment of Note
TOTAL ACCOUNTED FOR

$ 55,862.04 261.98
6,375.98

$ 62,500.00

SCHEDULE 10 26

y|.(i

^^^^^^MHHHmHHBHHBHHVHHHHHHHHHHppHl

Analysis of Receipts and Disbursements Federal Industrial Rehabilitation Funds

JANUARY 1, TO DECEMBER 31, 1934

RECEIPTS:
United States Treasurer Refund

$26,322.45 12.00

TOTAL RECEIPTS Balance on Hand Jan. 1,1934

$ 26,334.45 6,757.43

TOTAL TO BE ACCOUNTED FOR

$ 33,091.88

DISBURSEMENTS: By Warrants Balance on Hand Dec. 31,1934
TOTAL ACCOUNTED FOR

$ 22,529.87 10,562.01

$33,091.88

SCHEDULE 11 27

mm mm T

Receipts and Disbursements Federal Vocational Education Funds

JANUARY 1, TO DECEMBER 31, 1934

RECEIPTS:
United States Treasurer Balance on hand Jan. 1, 1934

$ 232,273.19 9,374.27

TOTAL TO BE ACCOUNTED FOR

$ 242,647.46

DISBURSEMENTS: By Warrants Balance on Hand Dec. 31,1934
TOTAL ACCOUNTED FOR

$ 209,788.23 32,859.23

$242,647.46

SCHEDULE 12 28

*rw,,m**vMm*^m*^,*mim&m**

Analysis of Funds Received From United States Treasury For Highway Construction and Endorsed to the
Governor

JANUARY 1, TO DECEMBER 31, 1934

PROJECT
E 22 E 64 E 80 E 87 E 144 A E 144 C E 171 B E 179 C E 226 A E 241 A E 244 B E 244 B E 241 B E 268 E 273 A E 273 B
333 E 390 A E 419 D E 468 C E 470 A E 479 A FR 13 FR 15
FR 17 5
660333

AMOUNT
$ 6,462.32 115.53 643.32
3,907.14 354.37
1,011.98 4,464.06 2,673.37 2,817.68 2,274.81 2,824.38 6,629.67 1,584.73 20,154.24 2,228.24 1,355.38 4,278.01 3,784.65 6,132.27 1,127.38
399.29 2,588.24 1,582.64 5,963.90
10,740.97 611.49
3,098.70

TOTAL

$ 99,810.76

SCHEDULE 13 29

Analysis of Receipts and Disbursements National Recovery Trust Account
JANUARY 1, TO DECEMBER 31, 1934

RECEIPTS:
United States Treasurer Reimbursement State Funds

$6,752,105.49 1,831.29

TOTAL TO BE ACCOUNTED FOR

$6,753,936.78

DISBURSEMENTS: Payments to Contractors Balance on Hand Dec. 31,1934
TOTAL ACCOUNTED FOR

$5,858,503.14 895,433.64

$6,753,936.78

SCHEDULE 14 30
ma

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mill i ii
J no

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