Lexington weekly intelligencer. (Lexington, Mo.) 1871-1887, 1877-01-13

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debt was Sl7, ,Sj9. 900. to which should
be added Sil 900 penitentiarv indemnity
bonds ordered to be issued by the TWEEN
| ty-eighth general assembly, Tor damages
which accrued against the state in 1873,
IN favor OF certain prison contractors by
reason ct the leasing OF the penitentlary.
On the first day Of January. 1877. it was
Sl7, PAS, 900. The loan OF the credit Of
the state to the Hannibal aud st. Joseph
| railroad company is not computed As u
part OF this debt The interest on these
bonds hss always been paid at maturity.
as well MS the expenses of funding the
matured bonds. The : per cent south
west guaranteed bonds have all been
retired. except five, which have not
| been presented, and are probably lost or
destroyed; and all the bonds OF the state
now outstanding draw only 6 per cent
Interest, making the aggregate OF cur
| rent annual interest 81 ,O34 $50, 3 re-
| duction in the interest account of $J =
300 year. because of the retiring dur
| ing the past two Years Of 1891 800 of
the state Indebtedness, and funding
81, ,ISi 900 seven per cent bonds. The
assessed value ol the property of the
| state tor 1876 IS about 5000. 900, ,OUU
| Should the country continue IN 3 set
| tied condition, the valuations for 1871
and 1873 will not tall off. but will doubt
| less be Increased. Tho resources OF the
state interest and sinking funds consist
| OF twenty cents on the one hundred dol
| lars OF property valuation, and one half
OF the taxes on merchants licenses
proper. Alter making due allowances
| lOr the cost OF collecting aud tor delin-
| IuencIes III collections, il is believed
that with tho present balances. and the
amounts which may yet be collected on
delinquent taxes OF former years. there
| viii be a SuiiicIency with which TO pay
| during the present biennial term. the
| interest on the bonded debt, and ~ much
rs S2JO.UUu year oi the principal there.
oi. II there should be q surplus, il
should be applied annually to the pur-
pose OF retiring other bonded indebted,
ness additional to that required by the
constitution to be retired. Six hundred
thousand dollars OF bonds were funded
under the act OF March 30, 1874, and
S3.jl2 900 under the act of March %,
1870: these latter are payable, at the
pleasure OF the state, after five wears
from their respective dates OF issue
The former We're sold privately by the
fund commissioner, the latter upon
sealed proposals publicly opened alter
thirty days advertisement This latter
mode Is the most preferable one. since
a! the negotiations may be seen and
! known, and all who desire to make such
investments are notified and the OPP
portunity accorded To them to do
50. Since the spring OF 1879 cur
bonds Created by the state and
all dealers IN them as currency bond,)
have commanded i premium higher or
lower, according To the amount OF ac-
crued interest, reaching in the fourth,
fifth and sixth months OF each semi-au
nuai ip>tu!lmeut lU'i 10 lu6 on the dollar
In October last they We're lu-i. and but
for the alarm OF a political crisis, they
would have no doubt, by the month ul
December, commanded 10 to H. The
gloom which pervadel the public mind
necessarily affected and brought down
All stocks Ours stood the shock as vel
a. amy. failing TO loo, and rallyIug It
lO1 .,-s IL the last month, which WAS the
first time in the history OF the state that
her bonds were on a par with gold
| This high character Of our stocks has
been gratifying t. our state pride
| They are, uu4ues stiouably, one OF the
safest and best investments offered in
any market. because both interest ant
principal are promptly paid AT maturity
and because the constitution and the
i.,w. iruprrariy.lv nrn,id,. III. p,..ne
and ra,,iir.. h,.i,.,nnIic,tinr ,n ,r,,. n,,
n-ut 81 the. one aud thc animal raan,
ton of the other. No LEGISLATURE or of.
tivrr could. if disposed. prpyent the AZ
cumpli,hn.cnt OF these ends. Apothe,
fact may be adduccA TO STRENGTHEN th,
pub,ic credit. and that is. the sinai
amount of bonds To he offered for sale i,
the neat several wears 10 fund maturins
bonds. In 1877 SS3S. 900 fall due. ir
IS-S SlGu u,p in IS-q-su 81 non.. an,
in 1852. 81. .U,,U; a total Of Sl.3.5 900
mo-, rs many hv SI55 600 As the cnns,i
,iou re.uires ,6 he retired durinu the 81,
y...r-. So thai in 49, there Will he +,
fuut S.,ss .Uup. in 1873. Soiu.nuO an,
, mum Iur;n,r ,,r toIInwiny four ycorS
As ,,rder,he act nt March % ls-i onl,
, th,. hnnIs f,l,iur due his yrsr c.n h,
funded you will have to provide. by
now or, fnr ,,ndinu the .xrssS 500
Onu, ;o,. 1S-S Because of the ren,ra
confidence il, and value of chr stacks
ynitlI 4 "a tho i,On Oh atn 4,
> ON ,r, ~ r.tncr ,h,. r,te Of in,rre.f to
nor cent. as to all 1wentv.year bond
hereafter 20 he sold The passace G
surb an act would necessarily annreci
=, nj. n,Ir t; ner cent >t,rks since the tac
! vnuld he that NO NOR, of This class 9
- securities woufJ i've offered hv the state
III. : nor ,..nt sacurit,as youid n
;, ,I,ni,, 1.-Two mn. y,l,s and IN rho am
SoN tnr,. mnrb a. onr & NOR can, stnct
- arn soId for -, nr.sent and save tn RI
st,te the naymeut of a vast sum of il
y ,.r,.., inripo tbe ,yan,, v.srs and evo
:, ,.l,,, -, smenath;,,,r Ia,s ,J,a,, ,.~ -
:. .1.;,,,, ,,-1,lI ,cr,I n,1,, ia a ,,,,,,.. liz
,,i n. .,,, of-AI,r,.i, 20 ~.
' ,,'s,,,,.,.as tho r;nhr ,o tho ,t,ta ond !,
= S,,s,.,;od in Ell honIs issnaI nnJ.r !
= rlo,,, ,h.r,, af,a, ,;,-n ,,a,r. t,.,,
u ~ ~ isS,,anan Th;s - ,.,.a - ~, -
= t;a,,;anaIIo '"ii' fo,tnrs and; aI,aI,,;a
u tha.,o 80, ha 80 ,,.,,,ra ,,,I ~ ~,
q u! '', t,a;. ,.aI,,a 81, ,hara ~, ~ ~
81 s'ioo'''e ,'S- - ioa a.. 'l''
J. 10y si VIZ" ite'ea ioms ,I,i "Ta'" "''N
IT .t'o Pr VI '''. '.'et 'Gueti p',ou,
y lneLe a'e hip'e ~ e-'" ei''ss Is outs'anu'.i
i i,o" 'Iah .tie 80 VIII WI "e an'e !! -
i uee'ii "'tci ii, 'n''t "t, p'l &,
lue ~, ,,'a go -,
= e''e" ,.' l..,,
:, expressed II - l"' ~" " ue'ei 'n''
e ue''1'' ~ ~ ~ 90 80 nIl>,