The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1883-01-12

OF the ). 900. 900 acres which it is cstima;ei viii
eventually inure 10 the State for the uss Of schools
there have been sold TO0.S0l.23 acres. Thore
unso.d Col .633 AT acres, appraised at S3,3lG.
O20, aud about 100000 not yet appraised, stu
aied mostly In the northern part OF the State The
constitution now Govotes TO tho common school
fund one half the proceeds OF the sale OF swami
lands OF the State. The selections approved rs
,wamp or overlooked lands In tho surveys up tc
1880 amounted to 100000 acres. In tho uu-
surveyed area there should be, perhaps, 10000
acres. The Stale land Commissioner computes tie
total OF oil State Land grants at 100000 acres
amount Is 5,O0OOOO 1t is believed the State viii
eventually realize an amount equal to 80 an acre
for all the school lands yet unsod which viii swo
tho permanent school fund 10 over $lG,OO0,OOO,
aad 1t is net uclike.y that tho swamp land rover
sion may raise that ina gnifcont sum to $4,000
900, ,: even S20. OOO.UOO
o: he 1 ~. 81 acres covered by the Univer-
slty aG. Agricultural College grsnts. thers have
boen sod 97.ooI; ,: acres leaving T2.346 acres
vet IL BE- disposed Of. These are largely rgrcul-
tursl lands. aud valued At an average OF SO per
aero. The perinaront university fund Is therefore
expected to finally realize from this source tho Sum
OF 81 .O59. 2OO66
The In,ernal Improvement Land fund viii prob
ably reach fully S3.OoOOOO. when tho remainder
Of the land belonging thereto Is disposed Of. There
have been sold l57,O05. 70 acres, aud 81 ,n59.4G
additional acres have been appraised at 81 $40
CSC .G5. leaving 3l.33l.27 acres yet to b. ap-
praised.
The proposition submitted at tie general cleo
internal improvement land fund to the payment o
the principal and interest OF tho Minnesota stlie
railroad adjustable bonds having been approved
BY the people, as showa by tho Ut tho votss
reo,ntly made. there is provided sinking fun
sufficient to redeem when due. much the larger
ton Of the indebtedness resulting from the adjust
ment Of the Minnesota State railroad bonds, and
Il income therefrom when tho lands arc all sold,
vi also provide for the payment OF coirsspondlng
proportion Of iaterest accruiug upon such inlebtsd
meas.
Under tho terms OF tho act approved Nov. A.
1881, providing for the adjustment of certain
alleged claims against the StIio," there have been
redeemed = 2J2 of the Minnesota State railroad
bonds Of the denomination OF 81 900 each, and
tner claims adjusted to the amount as allowed oi
s53.0Ss.G6. The adjustment Of these bonds AMI
,lams. according 10 the terms OF tue hct. as re-
uuireu tho ssCs Of $i,253OOO 81 the 4 y pee cent
bonds. and theirs Gains to tho amunnt o
&i,25O. 81 yet DO provided for By fnrIher issue
10 Lat amount.
| Tho origiaa issue OF Mnrcs't, Sta'e railroad
bonn ~ was S2,27J,OOO. The State acquired pos
.e. lion of 81 900 of these bonds years agh
ri.re have been ratlos AZ above stated S2232.
J'Ha, which leaves hui $2S, 900 now on Standing
The recognized ndebtn dnesS IF tho Safe 10 go
represented b. tho following Cb!is cations:
Loan CT 1878 for building prr-
poses. sS........ SSo,OCO w
i loan OF 1878 for seed grain dis
| iribuiinp, Os Observation-Disclosures. Cl,ONO co
] Railroad iJnstm-ht bonds 4i2J. S,2J3,DbO 30
| i.ailfoad adjustment oaiIns. ........ 400 80
SJ,3i3,25O 81