Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-10-15

| but the only items the GLOBE will invite par
ticular attention to is the superintendent
| scheme introduced by Senator Miller.
Routine Report.
Met and called to order at 10 a. m. by Presi-
dent Gilman. Reading of scripture and prayer
by Chaplain Smith.
THE OLD BONDS.
Senator Mccormick presented protest OF
some fifty citizens Of Waseca county, protest
ing against the present legislature taking any
steps toward a settlement of the old railroad
bonds, for the reason that the members
had not been elected for any such purpose,
and that before any settlement of the bond
question was attempted the people were en-
titled to pass upon the subject.
Upon the suggestion of Senator D. Buck
the protest went to the finance committee.
MILEAGE.
A resolution by Senator White providing
for the mileage of members the same as at
the last session, was adopted.
BILLS INTRODUCED.
By Senator Miller-An act to apportion the
state into five congressional districts. Order
ed printed.
By Senator D. Buck-To establish munic-
ipal court in the city of Mankato. Read a
second time and referred to the senator from
Blue Earth
By Senator Howard-Authorzing the char
ter of the st. Louis Dalles Improyem ent COM
pany.
BY Senator Peterson-To authorize the COM
missioners of Brown county to build bridge
Passed under suspension of rules.
By Senator PlllseuIy-To appropriate $780,
600 for the legislative expenses. Rules sus-
pended and bill passed.
By Senator Crooks-Repealing chapter of
the general laws of 1881. The act it is pro-
posed to repeal relates to the disposition of
The internal improvement lands.
By Senator Castle-To amend the statutes Of
1878, relating to the office of surveyor gen
eral.
ACCEPTING THE TERMS.
The following communication was received
and read from State Auditor Whitcomb, in
response to the resolution of Senator White,
calling for report of the number CT bonds
presented for settlement, upon the pending
proposition, ETC.:
Hon. G. A. Gilman, President of the Senate
Sr-In response to resolution of the SEN
ate of this date calling for information in ref
erence to the state railroad bonds, l have to
report to you that 1,S3S bonds have been re-
act of the last session, and the holders of 2l2
bonds have signified their willingness to ac-
cept the terms offered if the adjustment
should be consummated and new bonds is
sued.
The state holds Is bonds, and I have been
notified of the loss of Is, making 1850 traced
to ownership, leaving 1876 unaccounted for,
large part of which it is quite probable are
lost or destroyed.
Whatbar ha nj for coft1amnpf
in my hands are binding or not / cannot say,
but am satisfied from my correspondence
with the parties that they are all ready and
willing TO carry out the proposed settlement
on their part, if made at once.
1t will require on the first day Of September
So, 1872, AS of new bonds to settle for the 1850
bonds in hand and reported.
Whether per cent. bond will be accepted
by the bondholders / do not know. They
have agreed to accept per cent bond, or
money on the basis OF the proposed adjust
ment, and if 4 per cent. bond can be negoti-
ated at par, of course they can be satisfied by
the issue of the per cent. bond, and if 5
per cent. bond should be issued and it could be
sold at a premium, which is probable, then
the state would have the amount of wha tever
premium might be realized. Assuming that
one-half of the bonds not heard from may
ultimately be presented, the amount required
to complete the settlement would reach ST.
100000.
If the proceeds of the internal improve
ment lands should be applied to the payment
of these bonds, 100000 might be used imme-
diately, thus reducing the debt to 50, 900,
and this amount would be reduced from the
same source about 100000 each year until
the internal improvement lands are all sold
and contracts paid.
If per cent, bonds should be accepted, the
annual interest would amount to Sl4S,000
the first year, and $1,000 less each succeeding
year.
According to the provisions of the adjust
ment act, the interest is to be paid from pro-
ceeds of taxes upon gross earnings of rail
road companies, which are increasing at the
rate of 100000 per year-the amount received
in 1879 being S209, 464; in 1880, 1924, 4S0; and
for this year, 1929, AGO. If the interest should
be met by direct taxation, it would require an
increase of the state tax one-half of mill for
next year, which rate would be decreased
thereafter as the assessed valuation of the |
state increased, and the principal of the debt |
decreased.
Very respectfully,
o. P. WHITCoMB, |
Auditor of State.
On motion of Senator Crooks the commune |
cation was referred to the finance committee. |
STATE CAPITOL. |
ScHdtOT ~. u. OuuilGu liz lOllOWluR
resolution, which was adopted:
RESOLVED, That the committee on public |
buildings be requested to ascertain and report |
o this body what will be the cost of finishing |
he state capitol according to the contemplated |
plans, and with such alterations and modfca- |
ions as will make the same fire proof.
APPoRTIoNMENT.
Senator Miller, of Nicollet, introduced the
GLOWING apportionment scheme:
The First congressional district shall COM
rise the counties of Wabashaw, Steele,
Dodge, Olmsted, Winona, Houston, Fillmore,
Mower, Freeborn. Population 16S,112.
Second District-Rice, Dakota, Goodhue,
-eSueur, Blue Earth, Martin, Jackson, Fari,
,ault, Waseca, Cottonwood, Watonwan aud
Population ,076.
Third District-Scott, Carver, Sibley, Ne
cod, Swift, Chippewa, Lac eui Parle, Yellow
Medicine, Renvllle, Brown, Redwood, Lyon,
lincoln, Pipestone, Murray, MOBILES, Rock.
Jicollet, Kandiyoh. Population l4S,l1l.
Fourth District-Hennepin, Ramsey, Anoka,