Morris tribune., 1883-01-11

OF the 5000 900 acres which 1t Is estimated will
eventually inure 10 the State for the of schools
there have been sold zoo, sO1.23 acres: There
unsold bOl 1893 At acres appraised at 1881 g.
u2O, aud about 100000 not yet appraised. stu
ated mostly in the northern part OF the State. The
constitution now Cevotes to the common school
fund one half the proceeds OF the sa!a of swamp
lands Of the State. The selections approved as
swamp or overlooked lands in the surveys up to
1880 amounted to 100000 acres. In the I'M
surveyed area there should be, perhaps, 1000 900
acres. The State land commissioner computes the
total Of all State land grants at 100000 acres,
but. according to the claim of the grautees the
amount is 100000. 1t is believed the State will
eventually realize an amount equal 70 So an acre
for al the school lands yet uusold, which viii swell
the permanent school fund TO over $l6,O0O.OOO,
AID it is not unlikely that the swamp land rever-
sion may raise that magnificent sum to 81 ,O00,-
900, or even 10000. 600
OF the 1863. 1913. 80 acres covered by the Univer.
sity and Agricultural College grants. there have
been sold 97,OO7.32 acres, leaving 72,346 acres
yet to be disposed Of. These are largely Rgrcul-
tural lands. and are valued at an average of Sc per
acre. The permanent university fund is therefore
expected TO finally realize from this source the sum
of ST .O39. zoos
The Internal Improvement Land fund will prob
ably reach fully $3,0o0.Q0o. when the renal der
of the land belonging thereto is disposed Of here
have been sold l67,U95.7S acres. and 81 ,259.40
additional acres have been appraised at 81 ,649.-
656o5, leaving 3l23l.27 acres yet to be mp
praised
The proposition submitted at tie general cleo
ton "for the application of the moneys of the
internal improvement land fund to the payment o.
the principal and interest Of the Minnesota tie
railroad adjustable bonds" having been approved
by the people, as shown by the Ct the votes
recently made, there is now provided sinking funl
sufficient to redeem, when due much the larger nor
tiun Of the indebtedness resulting from the adjust
ment of the Minnesota State railroad bonds' and
tie income thsrefrom, when the lands arc all sold.
wi also provide for the payment of a corresponding
proportion Of Interest accruug upon such indebted
nesS
Under the terms of the act approved Nov. 1.
1881, providing for the adjustment Of certain
alleged claims against the State" there have been
redeemed 1882 of the Minnesota State railroad
bonds of the denomination of 81 900 each, and
other claims adjusted to the amount as allowed OF
$53, G6. The adjustment of these bonds and
claims. according to the terms Of the act, J as
quired the Issue of s., $4,000 OF the i}2 per cent
bonds. and there Claims to the amount of
S4,25O.S4 yet TO be provided for by further issue
to that amount.
The original issue Of Minnesota State railroad
bonds was $2,275,OOO. The State acquired pos
session of S15, 700 of these bonds some years ago
There have been redeemed above stated 50. 1884,
900, which leaves but $2S, 900 now outstanding
The recognized Indebtedness of the State is now
represented by the following obligations;
Loan of 1873 for building pur-
poses, GS......s... SzO.OOu w
Loan of 1873 for seed grain dis
tributioD, Is. ACKNOWLEDGEMENTS. $1,000 90