St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-04-09

the bonds of the Board prepared, as per the
resolution
(See official proceedings of April %, 1879
Third
The third issue of bonds, No. l to 100 in
elusive, per cent, $500 each, interest pay
able February and August, was made in 1874,
amounting to $4,000. (See annual report
of 1874, page 32.)
The necessity for this issue arose from
causes fully explained in the following pre-
amble and resolutions offered by Inspector
Ingersoll, and which were unanimously
adopted:
WHEREAS, The receipts from taxes and all
other sources for several years past have
been less than the current expenses of this
Board, from the fact that the Common
Council would not make levy sufficient to
meet such expenditures, causing the Board
of Education great embarrassment at this
time and seriously endangering the ability
of this Board to carry on tie public schools
of this city; therefore,
''ReSoIved, That it shall be the settled policy
of this Board to fund its present indebted
ness by an issue of bonds to the amount OF
100000, bearing s per cent. interest per
annum, payable semi-annually, redeemable
in twenty years, etc.
''* *Resolved, That the Finance Com
mittee be directed to prepare the bonds as
specified in above resolutions"
(See proceedings of Jan. 9, 1874
Above action was subsequently modified
as follows:
" Resolved, That the action of the Board at
its special meeting authorizing the issue of
bonds to the amount of 100000 be recon
sidered.
''Resozved, That the Board willi issue only
bonds to the amount of $4,000
''ReSolyed, That the bonds now authorized to
be issued shall not be sold at less rate than
90 per cent"
(See proceedings of Jan. 10, 1S74) The
last above resolution was also rescinded Cat
meeting held April 6, 1874 and supplanted
by the following:
"ReSOI0ed, That the sale of bonds of the
Board be left discretionary with the Finance
Committee at price not less than eighty
seven and one-half cents"
Cor authority see Special Laws, Mimi,
1872, fol. AZ
The more particular disposition made of
the proceeds of these bonds was to make
good general deficiency of $50, S4S.65, and
also to erect a new school building (the
'Lincoln'') in the Fifth ward.
(See proceedings of Jan. and May 4, ETC..
1S74.)
This completes the result of the search of
the old records of the Board and shows con-
clusively the reasons, authority and details
for mourning the "old bonded debt''-so
called, summarized as follows:
First issue, 1871, per cent. int, due
May and November. Observation-Disclosures. $50, 1000
Second Issue, 1872, 6 per cent. int, due
June and December 5U,UUO
Third issue, 1874, per cent. int, due
February and August. .............. $4,000
Total fret, second and third issues. .S150,OO0
The records of the Board do not contain
list or register of these different bonds,
showing to whom they were issued,
such as has since been kept
by the present financial officers of the Board
for High school bonds, nor do the laws
require it, but the fact that the bonds
are made payable to bearer would not seem
to make the omission Gf such it can be
called very material; the records show
every other salient feature. The essential
point of yonr resolution of inquiry, as l un-
derstand it, was and is to furnish plain and
ineligible statement of the facts of the whole
matter to the Board, the public generally,
and in answer to those of our fellow citizens
WIZ tudfe VI ulVCIo OCCdSlOuou
general allusion and Misrepresentation IN
Willingly perhaps, raised a cloud of doubt
about the old debt, thus also indirectly re-
fleeing upon the character and efficiency Of
the predecessors of the present Board, as I'M
deserved as it is unjust. AS such statement
and answer this report is respectfully sub
mitted. OTTo DREHER, Secretary.
Received, ordered spread upon the minutes
and copy hereof to be transmitted to the
Chamber of Commerce.
From the Superintendent, as follows:
ST. PAUL, Mimi, April 6, 1885.
To the Board of Education of the City of st.
Paul:
GENTLEMEN: The total enrolment of the
public schools for March, 1885, was GIL
pupils, an increase of Isl upon the enroll
ment of March, 1884. The whole number
admitted to the schools since the commence
ment of the present school year is S,634. The
following table gives the total enrolment
and average daily attendance of each school: