Pierre weekly free press. (Pierre, S.D.) 1889-19??, 1893-01-12

state banks is especially interesting.
1t shows that there are fifty private
banks now in existence, forty state
banks organized under the general
corporation law, and seventy state
banks doing business under the bank
ing law passed at the last session OF
the legislature. The private banks
are not under supervision. owing to a
decision Of the supreme court holding
that the banking law which sought
to subject private banks to cxamina-
tion was unconstitutional. During
the fiscal period eight private banks
have failed. while among the state
banks there has been but two fail
ures. In all the private banks which
leave failed there were county depos-
its held. which resulted in consider
able losses of public funds. The two
state banks which failed had been
organized under the general corpora
tiOn law, and their failure would have
been prevented had they been organ
lied under the new banking law in
stead. According to the reports made
May IA, 1892, by the seventy banks
organized under the banking law, and
the forty banks organized under the
general corporation law. their total
resources were s5.3Os, 557 The dcpos-
its subject to check at that date
amounted to sl,5s9.774, aud the GER
tiicates of deposit amounted to 81,
2333, GA
The report shows with reference to
the treasures of the several counties
that during the fiscal year ending
June so, 1892, the receipts Of the
counties from all sources were 5.661,-
/ 1863. and that while the cash on hand
! in the various county treasures Oh
July i. 1891. was sGGO,5sS, it was $500
4GS July !, 1892, an increase which
indicates general improved financial
/ conditions in the state.
4 Cun.Mlr- IoSEE OF SCHOOL. md PUB
Lie LANDS.
in his report Commissioner Ruth
| furnishes some interesting statistics
concerning the school ard public
lands of the stately which itappcars
that the state has received the mag
tItccnt gift Of 3,52i 400 acres OF land
from the government. of which :. SD
100 acres belong TO the common
schools of which ISIS acres have
been decided. and 9S,4l5 acres are
..nder contract Of sale. leaving the
state still in possession of 2..2l 49,
acres. The sums realized from sales
amount TO 81 ,3s7.3i"2, Of which SIS
$50 have been paid into the treasury.
leaving the balance due from pur-
.chasers. upon which they pay inter
est. The number Of acres leased is
EOS .l03 and the receipts from leases
amount To s4S,sls. The average price
realized from sales of land is SAGE
per acre. During the year 1891 the
income fund apFortioned to the
school districts OF the several eoun-
ties Of the state amounted 10 go, 0s2.
OF - cents per ckild for the so.jI.t
school children in the state, while
: for lSe2 the total income fund appor.
: toned was s1S,l0S- or So cents pei
child for each Of the 4oS24 -ciool
children. The increase in the nun.
Der Of school children in the stat,
from $3.50 in 1881 10 9O.S24 in ls9:
is nearly per cent.
: Commissioner Ruth recommend.
that the legislature should authorize
an inquiry into the legality of tn.
proceedings had by the Dell Rapid.
Mining company in obtaining 4
patent for POO acres OF stone land near
} Dell Rapids, to the end that suit
should be commenced by the state t
set aside the patent. The validity O
number Of other entries in the state
e would be determined by the result o
this contest.
l He also recommends that an at
tempt be made TO compel RAILROAD
0 companies to pay for their right-of
WAY GCIOSS SCuODl ScItlollS. II
5 desires further that law be enacted
to prevent timber cutting and farm
5 ing operations upon school sections
! 1t is his Judgment that conviction
{ for trcspass of this kind is impossible
5 where prosecution is brought in tn
u county in which the land lies. Will
{ regard to investment of the perma
G ncnt school fund he suggests that tn
constitution be SO amended as 70 per
5 nit the purchase of county bond
u Herewith. 1t is also his judgmen
that the permanent school fund
should own all the state bonds q, tn
+ rate of per cent. interest.
!, Eclipses This Year.
d There will be but two eclipses i
q 1893 and both OF the sun: ]. A tota
e eclipse of the sun, April Is, visible a
IS a partial eclipse throughout Sout