CONNECTICUT SCHOOL FUND.
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 GWithin the yearspass, the Commissioner has er. hanerd new lands for real estate ia this ssate which ID. been appraised at 64 6S. Less than ODesxth ,art of which sum- viz 1919 77, has been POid cash O aid the exchanges. The new lands have been ta- xen a, various prices, from 8 S7 to $5 per acre. Where there were improvements, m extra price has been allowed. part Ofthe real estate so receivedI, has already been sold."

 "When it is considered that in the state of Ohio there remained unsOld the Both of June last, above seven millions of belonging to the United States, aer having been offered for several years past at reduced price, the difficulty in dispcsing of the new lands belonging to the School Funl for c0s will be readily discovered. 1t is by exchanges only, that the new lands in that State, belonging toahe Fund, can within any reasonable time be converted into cash safe debts."

 "The amount of sales of real estate within the past year, exclusive of exchanges is $2l ,8SS S9 of which S17,4 92 was situated in Massachusetts and Con necticut; the residue in Ohio, New-York, and Ver- mont" ... '- @a

 EXHIBITS. N

 The amount of cash on hand, list of April, 1923. derived from interest rents, and bank dividends, (after providing for all outstanding dividends and other charges upon the Fund, as per last report of the commissioner, was 5S Amount received at the Treasury within the

 

 rents, and bank dividends, the sum of 8O,24S29 4l7, ,5O7 9l of which was received in the month of March, after the last dividend to the S''0'' was 0s'''e0' sgsls987

 The dividends made to the schools the past year, amounted to 85 cents on each child enumerated; and was divided as follows, viz: 35 cents on tue 'o ''' '' o'''''' '"''' "''''' $as,7l4s5 mounting @ to 'O 42,4495O Amounting in the year, to 72,l64l5 Special grants made by the Gene. ra Assembly last session to several School Districts which had not made returns to the Comptroller l785O Compensations paid to the Com- missioner, Treasurer, and Clerks, policies of insurance, taxes, expen. ses of books, stationary, G1c., in the Commissioners and Treasurer's ole | flee relating t0 the School Fund, 3,6O3 85 Cash erroneously paid to the .,. Treasurer and credited to the State as interest, which has since been re. funded, 4OT | received for interest, which was col. lleced from principal, and is trans. ferred tO the credit of principal by h,m received, 2,7O94 46 "''" '''e ---7s,esse e5 l -

 Afier providing for all dividends then un- paid, and other charges upon the Fund, there pIicabIe to future dividends. 14,44ao4

 There also remained in the Treasury on the same day, applicable to the payment of those school societies who had not then drawn

 their dvdends for the past year, the sum of 48l35O Total amount on hand Is. of April, 1929, l9,25G A

 The revenue derived from the Fund the past year as contained in tue foregoing staement, consists of the following particulars. viz: fa#.

 Interest received on bonds against debtors in CoanecsicHt, and rents of G'rms in this State, 23662 g

 Dividends Oi Banks located in ,Lis State, S872Oe .,tr. . -

 lnteres, collected on bond. against deh,ors l in Massachusetts, and rens Of farms in that S,n'e, l4,r9652

 Interest received on bonds agains, persons received in that State. 34,58s S9 in Ohio. 3GOl 66

 Amount received of sundry debtors for in. 'O'- W surance paid by the State on buildings inort- gagged to the School Fund.- sae B Amounting to the aforesaid su,n of $8O.24329

 H the collections Of the ensuing year should equal thejust expectations of the Commissioner, he believes that the state of inc Fund will justify moderate in- crease of the next dividend to an amount which may be permanently contknued An increased dividend for single year, to be diminished in the next and future years, would not, in the opinion of the Commissioner comport with good policy, but wonld produce disap- pontment in the expectations and calculations ot the School Districts more injurious than temporary in- crease would be beneficial. The amount of Principal on hand in cash on the 1st of April, 1925, as per last Report, was A03 OO0 9I Amount of Principal received into tho | Treasury, in cash, within the year ending | the Slst of March, l829 (incudinS the be- fore mentioned sum of 2,709 46, transferred from accoua, of ip,eresiJ 4l,325 0l = = = 64,S57 92 Loaned by the Commissioner within tue same period. bonds dOntly secured by real estate, 46,7648 30 Paid to individuals to aid in the ! exchange Ol western lands for real | estate in this state, part of which was for exchanges in the year pre- vious, ts .', 2l8343 - 48, ,968 g

 Leaving balance of 15,3596s which will be paid out on Loans whenever the securities now preparing are perfected.

 The CAPITAL of the School Fund on the lst day of April, 1929. was invested as fDloWA;

 l:t. In Bonds aud lForgugrs agaiHst persons residing in the .$ State of New-YOrk, 618,SOO 90 - do. in State of Connecticut, 493,O21 l6 do. m State of Alassachus'ts, 255,8l173 do. m State of Ohio, 76,O6099 do in State of Vermont, 7.74053

 -l,454,435 53I 2d. In Bank Stock.