Iowa capitol reporter. [volume] (Iowa City, Iowa) 1841-1855, 1847-02-10

Report Of HIr. Benton,
Chairman of the Select Committee to arhom
was referred documents relatiue to the debl
due the Miners Bank Of Dubuque.
The selec. committee 10 whom was re-
ferred documents Nos. l, 2, 8, 4, and 5,
in relation TO the debt due the Miners
Bank Of Dubuque, with instructions to OBJ
tain from the Secretary Of the Treasury .
statement of the sale Of lots in Iowa City,
pledged for the redemption Of the same,
have instructed me 10 report:
Tina, the Territorial Agent, by "Aa act
authorizing a loan of money 10 be expeno-
ed on the Capitol" approved January ID.
1871, was authorized 10 negotiate Il loan,
at a rate Of interest not exceeding ten
per cent, "not exceeding The sum of TWEEN
ty thousand dollars; and not less Than i've
thousand dollars, 10 be expended upon The
Capitol al. Iowa City" and to pledge the
unsold lots Of Iowa City for the redemp-
lion of the some. Acting under this au-
ihority, Jesse Williams. Esq, Territorial
Agent, made ain exhibit of the available
assets Of The Territory on The l4th day Of
May, iS4l, which was as follows:
"Notes on individuals which
were given IN payment for
lots heretofore sold and which
are yet unpaid, Sio,iol ~
Lots in Iowa City, which
are yei owned by the Terrific
ry; and which are valued at
The minimum price as apprai
set oy the commissioners ap-
pointed for that purpose uD-
de, the 9Th Dec, OF The act
providing for the appointment
of superintendent Of Pub
lie Buildings, $li4,774 90
Total amount, *l2s,e75 %
On the 18th day Of June, l84l, he eff.
fected a loan of .fye thousand dollars, at
the rate OF Lev per cent. interest per an
mum, Of the President, Directors, and
Compa of the Miners Bank of Du-
huque." for which he executed his notes,
as Territorial Agent as follows: "One
note for five thousand dollars, dated June
18th, lS4i, payable eighteen months after
date, al the Bank Of America, in the cit,
Of New York, and six several notes for
$37 SO each. bearing date as above, and
and payable at three. SIX. nine, twelve,
fifteen, and eighteen months after date, a.
the Bank OF The Stale Of Missouri, in the
city Of St Louis; The SIX last mentioned
notes being for interest 81 The loan" and
pledged ''lhe remaining unsold lois in Iowa
City, together with the proceeds Of the
sales OF said lots. and The good latin Of The
Territory Of Iowa" FOR The retention OF
the same. On the 3Cth OF September.
lS4l he effected another lean Of tue hun
drsd dollars, at the rate of seven per cent.
interest pc" annum, Of ths Presto ent,
Directors and Company of The Miners
Bank of Dubnque," for which ne execu
led his noies. as Territorial; Agent, as 70! :
lows 'Cne note for :lre hundred dollars
dated SePiemter 30, Sal, payable nine
months alter cafe, al The Bunk Of The State
d Missouri, in the city of ST. Lcns, and
three several notes for % IS each, bearing
date as above, and payable a, three. six,
and nine months after date, at The Bank ai
The State Of Missouri, in The city Of ST.
Lous;the 'hree last mentioned notes being
for interest on the loan,' and pledged .'she
unsod lots in Iowa City, together with so
much Of the proceeds of the sales Of said
lots as will fully pay said notes at inatu
rity, and the good faith Of the Territory Of
Iowa. for the redemption Of the same :
Your committee learn further Thai by "An
act authorizing the reduction Of the unsold
lots in loua City and their sale for work
and materials, and for other purposes, y
approved February II, 1912, it was made
the duty of the Territorial Agent $50 re-
duce the minimum price CT the unsold
lots in Iowa City, and of any and all lots
in said city which may have been, or may
hereafter become forfeited, fifty per cen
tum below the prices fixed thereon under
existing Valuations and ''to sell any of
the unsold and forfeited lots in Iowa City
to any person or persons applying for the
same, for uork done on the Capitol, or for
necessary materiuls furnished therefor, at
the valued minimum price" The provi-
sions OF this act, comforting the authority
above alluded TO: We're to be, and continue
in force for six months ir0:a:o and after the
LIST day OF May, 1912. BY the prov,sicc:n:s
of San act to define the duties of Terri
torial Agent, and for other purposes" ap-
proved February l3, lS43, i. was made
the duty OF the Territorial Agent, in con
junction with two commissioners, to be
by The Governor, 'to value all
the unsold lots, out-lots, and forfeited lots
in Iowa CITY and to aiilx or the lots an
average minimum price Of agM dollars,
and on the out-lots price corresponding
with The price Of lots aforesaid" previous
to the LIST day Of May. ls43 1t was fur
Their made his duty, after the valuation as
required above was completed, to give no.
tice that public sale Of lots would be held
IN Iowa City, in the month Of May, i843,
he day Of sale to be designated by the
Agent 10 the said notice, at which time
and place he was to 'soffer at public sale
TO the highest bidder, all the ansold lots,
out lots, and forfeited lots in Iowa Cyiy y