Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-01-05
S1,l1I,076 78

OF the 100000 acres which it is estimat
ed will eventually inure to the state fo
the use of schools there have been solS
790,8o1.23 acres. There are unsold 60i,
63S.47 acres appraised at $3,316,020, ant
| about 100000 acres not yet appraised
situated mostly in the northern part of tht
state. The constitution now devotes to
the common school fund one-half the
proceeds Of the sale of swamp lands of the
state. The selections approved as swamp
or overfowed lands in the surveys up to
1880 amounted to 100000 acres. In the
| unsurveyed area there should be, perha ps
| 100000 acres. The state land commits
sioner computes the total of all state land
grants at 100000 acres, but according to
| the claims of the grantees the amount is
100000. 1t is believed the state will
eventually realize an amount equal to five
dollars an acre for all the school lands yet
unsold, which will swell the permanent
school fund to over $16,00O,0O0, and it is
not unlikely that the swamp land reversion
may raise that magnificent sum to S18 ,0OO,-
600, or even $2O00OOO0.
Of the 169,353.32 acres covered by the
University and Agricultural college grants
there have been sold 97,007.3 2 acres leaving
72,346 acres yet to be disposed of. These
are largely agricultural lands and are val
ued at an average of Sc dollars per acre.
The permanent University fund is there
fore expected to finally realize, from this
source the sum of S1,059, 200.66.
The Internal improvement Land Fund
will probably reach fully $3,00O,000 when
the remainder of the land belonging there
to is disposed of. There have been sold
157,095.78 acres and 81, 259.46 additional
acres have been appraised at $1,649, 1864,
leaving 31t331.27 acres yet TO be appraised.
The PROPOSITION submitted at the last
general election providing ''for the appii-
cation of the moneys of the Internal In
provement Land Fund to the payment of
the principal and interest of the Mime
sofa State Railroad Adjustment Bonds"
having been approved by the people, as
shown by the canvass of the votes recently
made, there is now provided a sinking
fund sufficient to redeem, when due. much
the larger portion of the indebtedness re-
sulting from the adjustment of the min
nesota State Railroad Bonds" and the in
come therefrom, when the lands are all
sold, will also provide for the payment of
a corresponding proportion of interest &C
cruing upon such indebtedness.
Under the terms of the act approved
Nov. 4, 1881, providing for the adjust |
ment of certain alleged claims against the
state" there have been redeemed 2,232 of !
the Minnesota state railroad bonds of the |
of $1,000 each. and other
claims adjusted to the amount as allowed |
of $53,088.66. The adjustment of these |
bonds and claims, according to the terms
of the act, has required the issue of 81.
253,OOO of the ~ per cent. bonds. and
there are claims to the amount of 81, 250.84 |
yet to be provided for by further issue
% that amount.
The original issue of Minnesota state
abroad bonds was $2,275,000. The state
acquired possession of $4,000 of these
ponds some years ago. There have been
as above stated S2,232,0 900, which
caves but $4,000 now outstanding.
The recognized Indebtedness of the state
S now represented by the following obi
.ations:
.oan of 1873 for building pur-
poses, Is; 49,. S23,000 0U
.oan of 1878 for seed grain distri-
button, 6s. sl,OOo 90 !