Jamestown weekly alert. [volume] (Jamestown, Stutsman County, D.T. [N.D.]) 1882-1925, 1894-12-20

over xl2,66l, having been received last
year from the As outside insurance com.
panies doing business in tho state. Sec.
retary Of state fees turned in we're
81, 267.5O.
One Of The most interesting sources of
income. and over which there 10 the
greatest contention in the state, 10 the
gross earni0gs tax paid by the railroads.
Four roads pay taxes under this system;
the Northwestern, the Milwaukee, the
Great Northern and the 500. The gross
earnings tax this year, in spite OF the de-
creased business alleged and Of the hard
times, the strikes, ETC., is nearly as much
AZ that OF last year. The total for 1894
is S99, ,213, from these four roads, while
for 1898 the tax was about 100000. 1t
appears that the railroad companies are
practically doing the same business this
year, from this tax, although the 500
tax is somewhat increased over last year
owing to the completion OF It's road
through the state.
1t is said that an effort will be made
during the incoming legislature to
equalize or modify, IN some way, this
gross earnings tax. 1t Is claimed that
the railroads are not assessed on the
volume of business and on the property
they own and control in the state, fairly
as compared with individuals.
The Northern Pacific railroad is pay
ing taxes on a estimated valuation per
mile and net under the gross earnings
law.
Out OF the total gross earnings tax re-
ceiveo, the Great Northern Railway com
pany, for the vast volume of lis business
transacted in this state aud for the i'm.
meDse profits it has made in Lauling the
wheat at a high price, has paid but $780,
3OS6S taxes. The Northwestern ou)y has
a few miles IN the state from Oakes to the
state line. It pays but Sl59.1S for its
taxes to the state, and the Milwaukee
road having line from the southeastern
corner of the state to Fargo, and the line
from the southern boundary to Edgeley
pays but S2,530.64 for the privilege of
doing business IN the state.
The county that pays the most taxes
into the state is Grand Forks, over $2O.-
600. Cass county comes next, close
second, with Sl9.545. Walsh county is a
third. Some of the COW counties and
some Of the unorganized counties pay
but very little tax. There is also pro-
ject on foot by which these unorganized
counties, which contain a large. number
of cattle running on free ranges, shall be
taxed and made to pay more than they
do to the state.
The disbursements sof the treasurer
were, ND to June 3Otlt last, S6l2, 2,62O.7O
and there was balancI in the treasury
at that time Of in alI$the funds of but
o1Or ESn &c %h,.tTHA,o a ~
school fund contained .@, ,846, the bund
interest fund over s13u0and the capitol
building fund s42,23212. This money
has. since June last. been mostly ex.
pended.
The permanent school fund has been
invested IN city, township and other
securities Of the state at 6 per cent. The
capitol building fund has been paid out
for the construction OF the new wing
The general fund, which only contained
S2,4SO.66 on the lst of July last, hat
been overdrawn most Of the time since
Among the general fund disburse
ments are many that evidently conld be
done away with with profit. One OF
these is the wolf bounty. The state paic
for year and q half S8,494 fer tht
scalps OF wolves and coyotes. It il
doubtful II stock of that much value hat
been killed by these animals in man!
years. This wolf bounty should be &C
repealed or modified as to make it lest
expensive to the state.
The premium on the state bonds Shove
the credit of the state to be very good
The bonds recently sold are low rate, ruu
long time, and have brought some premi
um at 4 per cent interest. The premium N
however, is less than $1,000 on bonds
sold, owing mostly to the special charac.
ter Of the security.
The state bonded indebtedness, July
1st, 1894, was eS45, O7.46. This does not
include $4,000 Normal school bonds, {
per cent, which we're evidently not con-
sidered legitimate state bonds by Treas
urer Booker, the state treasurer preced'
ing Mr.. Nomland, as he did not register
these bonds. Treasurer Nomland has
followed bis example also, and has not
registered them, but the interest has
been paid out Of the general fund, which
would indicate that the holders OF these
bonds would some time get their money
These are among the bonds referred to
as being issued for educational purposes
in excess of any appropriation or au.
future payment. These bonds have still
a long time to run, but are at low rate
OF interest.
There are about $4,000 per cent
bonds issued for the penitentiary and
university. that expire at the option oi
the state after July lst, next. These can
undoubtedly be refunded at lower rate
OF interest.
One special interesting feature o1
North Dakota's financial transactions ii
the investment of her school fund for the
benefit Of the district schools. AZ soon
az it became known that this admins
tration would invest the permanent
school fund in local securities, there we're
many requests from the various school
boards OF the state to the board OF uni
versity and school lands for loans on the
security Of the school district bonds. This
very fact Of the investment OF the state
fund in local securities has kept down
the rate OF interest. Bond brokers. be.
fore this administration came into power,
charged large bonus and'a high rate OF
interest for loans upon these school dis.
trlct securities. The standing offer by
the state to take these securities at per
cent has kept tho rate OF interest at a