Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-09-05
s2s,5s0 70

Respectfully submitted,
T. A. REM, Treas. Board of Education.
On motion of Inspector Abbott, referred to
Finance Committee.
The following proposals were received for
supply ing the schools with wood for the en-
suing year in accordance with the ADVERTISE
ment for sach proposals:
Northwestern Fuel Company, $5.99 per
cord.
Smith & Lewis, $5.98 per cord.
Griggs, Rhodes & Foster, 1855 per cord.
Costain & Cleary, (for mapie) Sc per
cord.
Constain g. Cleary, (for oak,) $4.75 per
cord,
On motion by Inspector Otis the award
was made to Griggs, Rhodes d. Foster.
Inspector Otis: from Finance Committee,
submitted the following report:
ST. PAuE, July 81, 1880.
To Board of Education.
GENTLEMEN: The Committee on Finance
and Accounts beg leave to report:
FINANCE COMMITTEE.
First-That pursuant to law and the reso-
luton of the Board, we have with the assist
ance ofjthe secretary of theBoard made care
full examination Of the accounts
time he assumed the duties of the Office up
to the first day of July, 1880. We have
checked off, aggregated and credited him
with all warrants and coupons paid by him
during this period, and found the same, to.
gether with an item of $9.5 allowed and paid
for sundry small expenses of his Office, to
amount to the sum of one hundred and seven
thousand six hundred and fifty dollars and
thirty cents ($107 ,G5030). We found the
aggregate sum of all the moneys received by
him from all sources during this period to
be one hundred and thirty-one thousand two
hundred and forty-seven dollars and three
cents ($131 ,247.03), and upon charging him
with the sum it left 8 balance in the treasury
| to the credit of the Board of Education,
July 1, 1880, of the sum of twentY-three
| thousand five hundred and ninety dollars
and seventy three cents $23,595.73l, and
that the same is safely deposited with the
| several banking houses as stated IN said
Treasurer's Report of statement of account
bearing date July I, 1880, and now on file
| with the Secretary of the Board, to be sub
mittsd at this meeting.
| This account so examined by us and sub
| mitted, has beer duly adjusted and found
correct by the City Comptroller as required
| by law, and we recommend that the same be
approved by this Board. After the same
| is so approved the Treasurer's vouchers will
| be destroyed by your committee as the law
| provides. We are glad to report that the
| financial accoants of the Board are kept in 8
very careful and systematic manner, reflect
| ing great credit upon the officers having the
same in charge.
Second-After d careful examination Of
| the status of the several funds, and the
| sources from which they are derived, with
the assistance of the Comptroller, We are
| able to report that by the adoption of che
resolution herewith submitted, we shall bt
able to at once let the contracts and proceed
| to the erection of the school building in the
Third precinct of the Fourth Ward, and Of
the proposed addition to the River school
The other proposed erections must be post
poned until another spring, or at least unit
after legislation is had.
Third-No offers have been submitted b,
any of the banks to keep the funds of thu
Board, and pay interest thereon, arising NJ
doubt from the concerted action of thu
banks.
AS the Treasurer is obliged to perform hi
services without compensation, it is hard
ship for him to be held responsible for tn
school funds. Tt is also inconvenient tina
our school funds should be scattered arount
among the several banks as now. AS we re
ceive no interest on these funds we are un
der no obligation to discommode ourselves
or tho Treasurer, and as a matter of conven
ience, and for greater security, we have. at
ter careful consideration decided to recon-
mend that our school funds beall deposited
in the Merchants National Bank of st. Paul
upon receiving proper bond for its SAT
keeping, approved by the Board. II thi
shall have the effect of melting the othe
banks to offer Us interest for our deposits, 81
much the better; if not, we shall have tn
satisfaction of knowing that our funds ar
safely deposited. We have named the Mer
chants National Bank because it has uni
formly accommodated usin the past witt
the lowest rates of interest, and already hold
substantially all of our outstanding certif
Gates of Indebtedness.
The Committee disclaim any preferences
save as suggested by the foregoing consider
alton, nor has the Committee in any name
conferred with theMerchants Bank, or infima
ted to the bank, or any of its officers. tn
recommendations they now see fit to make
(Signedj CHAs. E. Or1s,
J. 81. MURPHY,
A. DYIFRENE