Cedar Falls gazette. [volume] (Cedar Falls, Iowa) 1860-1895, 1867-06-28
NUMBER Is.

lands.
In footing up the cash receipts and
credits. on the sale of school lands we
met with some obstacles which for
some time We're a pcrplexing and dis
couraging task but on closer investi-
CATION we find the difficulty was solved
I'm finding number of sales of school
lands which had never been entered on
the sale book, while at the same timo
the securities for some of their sales
were found upon the loan and security
book, thereby, OF course decreasing the
fund proper and increasing the securi-
ties and this too In very unequal pro-
portion.
We give some examples or this, Wig:
On the 22d day OF August, A. D., 1865,
one G.. q. Hunter purchased tho West
4 of the South West / of Section No.
IL, town SS, range IL, at $4,O0 per acre
and paid ninety -four dollars down and
gave his note ON contract for two hun
dred and twenty-six dollars. This se-
curity we find on the security book and
reckoned IL in among the securities ac-
cordingly, but the full amount of tho
Three hundred and twenty dollars
was not accounted for Oh the sale
book.
Here In this instance tho securities
were increased by two hundred and
twenty-six dollars and the fund proper
was decreased In the sum of three hum
dred and twenty dollars and by COM
parison between the securities and the
sale books as we found them would
make an actual difference OF tho
$500 90 and tho $226 90 added together,
making the true difference to balance
the two accounts to be $548 90.
Another like example IL found in tho
case OF L.. w. ALEXANDER, who bought
the East of tho South East 4 of Seq
ton 10, Township IS, Range IL, for
Sl07 90 cash, and security for $2l3 Co.,
These cases We're found on tho security
books and tho cash items duly entered
upon the Treasurer's book, but weru
not entered upon tho sale book.
But there Is also another case of still
a different character. This IL the case
of the sale of the East ! of the South
West J of the same Section rs the above
described tracts. This we are informed
by Mr.. Coleman himself, was sold by
one George III, Randall, for three huns
dred and forty dollars, but no evidence
Is found of this fact upon the sale book
security book, Clerk u cash book or tho
Treasurer's cash book, In our account
We have this sum OF S340 90 included
In our table footings Of the land sales,
but as we have no evidence OF the pay
ment of 1t into the Treasury, we have
charged 1t to Mr.. Coleman as deficit.
We also find MI error In this fund OF
one hundred dollars, which occurred
gust, A. ID. 1863, and will be found ON
page u of school land sale book. This
was the sale Of Lot No. twenty In Sec
tion 10, Township IS, Range IL, count
Ing live acres and appraised at S25 Ca
per acre and sold to j. w. Bronson for
Twenty-Five dollars or Us 90 per acre,
making loss to this fund of one hun
dred dollars, If allowed To remain as il
now is.
On this 2lst page of sale book is
another clerical error. An entry is
here found of land sold To ID. Campbell
| for $G40 0O cash anu To credits one OF
$500 90 and another OF $50 90, this last
credit isevidently an error and instead
of hsiHg placed To ID. Campbell, should
have been put In the credit column, 10
lands sold to n. j.. Flood, on the third
limo above the limo where the entry
now stands, this being found to b0 hls
credit instead of Campbell's. F s
With the many careful and thorough
examinations and reviewing that wo
have bestowed upon this fund, taking
| IL up at ITS very commencement aud
tracing IL step by step through To its
close, we feel con fident that the amount
we have fixed rs the true permanent
fund will be found TO bc correct. st
SCHOOL FUND SECURITIES.
In this department of the School
Fund, we find much confusion, owing
to some extent, evidently, to the sys-
tenn In which these accounts have been
kept, being In the form OF annual Iirts
and carried forward. yearly instead OF
an individual account being opened
with each person obtaining lOall, be-
Ing debited with tho amount loaned
and credited by the amount Of princi-
pal and interest from time to time paid
in, keeping principal separate froia tho
| interest which would be far preferable
and much more easy to be correctly
kept. There has also been great care
lessnsss practiccd I'm the settlement Of
these loans In properly cane0liing tho
record Of these paid as we'll a. the secu-
rifles themselves, which have been re-
tatned In the Office after they have
been satisfied. i
Ne judge from an examination OF
these securities and accompanying
records, that tho general practice has
been on their payments to give up to
the Mortgagor his note and retain the
Mortgage, and make the record Of the
security as paid, and giving the date VI
4 tho same.
But we do not find this to be the case
In very many ipstances. Sometimes
both the note ausl Mortgage have been
retained, and these I'm some instances
ono or both are members cancelled or
paid, and In others no mark or pay-
mcnt is given them Some havo beess
paid and carried forward ON the record
by mistake, ond again some securities
have bocn renewed or changed aud
others given without consideration and
being incomplete, while with lsOme
there are discrepancies between tho
notes and mortgage, and also between
these and the records.
| On our first examination OF these
securities and comparing them with
the record we could not make them
balance by several thousand dollars,
but by going over them repeatedly and
selecting out all that we Ind q good
and suffieicnt reason for beliving were
paid, We find the securities and cash on
hand, UP to and including January 7th,
4 1867, as shown IN the table given below.
which we have arrRaksd for conyeni-
ence sake. by giving the amount OF
secuities a. found upon tho record, un-
der each title of the alphabet, In alpha
betEcat order, with the kind or nature
OF the sccurity given: ~
/! I.0ans. Land Hotes.
el250 90 &Gl3 %
II KNnb 84 XII cal 10 aiit 1gzG II
| ST lS44 ~ 2SV ~
/ D. 6s0 10
/ 1851 90 sst
9tS 80 1Eo7 90 tf .e3I a
| % f 91ex, - sfs h31 ~
L