since organization, ix, 302.

to, as interest on University Fund, since organization, ix, 300.
from interest on part-paid lands, since organization, ix, 301.
receipts and expenditures, as shown by vouchers filed, ix, 244-5.
loans to, 304, 318-9.

lands, receipts from sale of, since 1841, 298.

for interest and penalty on part-paid, 298.

University Bonds-see "Bonds."

University Aid Fund-see "Funds."

University Interest Deposit-see "Funds."

Valuation of Taxable Property:

University Fund, 21-see "Funds."

University Deposit-see "Funds."

V.

W.

assessed since 1853, 322, 324.

equalized by Boards of Supervisors since 1838, 322, 324.
State Board of Equalization since 1851, 322, 324.

Van Buren County-see "Counties.

War Bonds-see "Bonds."

War Bounty Bonds-see "Bonds."

War Fund, 23-see "Funds."

War Loan Sinking Fund-see "Funds."

Washtenaw County-see "Counties."

Wayne County-see "Counties."

Wexford County-see "Counties."

X.

Y.

REPORT OF THE COMMISSIONER.

STATE OF MICHIGAN,

OFFICE OF THE COMMISSIONER OF THE
STATE BANKING DEPARTMENT,

Lansing, Mich., Dec. 31, 1889.

Hon. Cyrus G. Luce, Governor of Michigan:

As required by Section 43 of the General Banking Law of the State of Michigan, as amended July 3, 1889, I have the honor to submit for your consideration the first annual report of this department.

When the present General Banking Law went into effect, January 7, 1889, there were eighty banks incorporated and doing business under the State law of 1859, as amended in 1873.

The following is an abstract of reports made to the State Treasurer January 7, 1889: