Jamestown weekly alert. [volume] (Jamestown, Stutsman County, D.T. [N.D.]) 1882-1925, 1894-02-01
OF STATE INTEREST,
Examiners Report of the
Financial Condition of
the State.
THE Permanent School Fund
Cratifyingly Large and
Well Invested.
Rev. D. E. BaidWin'S Trial Said
to be a Case of White
Wash.


In his report of the financial condition
of the state the state examiner says that
the general strinRency, and the very low
price OF wheat, wool. live stock, and
farm products, have had much to do with
the delay in the payment of taxes.
The bonded Indebtedness of the state,
Oct. 31st, 1893, was S795, 5,SO7.46.
The capitol building bonds, in the
amount of $4,000, dated July 1st, 1898,
payable in thirty years at four per cent,
have been issued under the law Of 1893
There has been expended from this fund
s4,92633 in excavat.ng, burning brick,
hauling stone and laying the foundations
for the south wing of the capitol.
Out of the $4,000 appropriated for the
state exhibit at the Worlds fair all has
been expended except S1,SU0 on the
building account and S1,50795 in the
collecting and arranging the exhibit &C
count, leaving the total balance Of So
3O795.
On valuation and assessment of prop
erty, the state examiner states. that the
average price per acre assessed is $685.
The assessed valuation of lands, town
and city lots and taxable personal prop
erty for the state in 1892 was 79,32O,736
90, and the same is for 1898, excepting
the personal property which has been
equalized by the state board of equaliza-
tion at an increase of S24,O1O,443. This
makes the taxable property for 1893 $S5,-
105,404. The total tax levy for the expenses
of the state, including interest on the
bonded debt is 100000. for the current
year The state has no floating debt
practically, and after the collection of
taxes for the present quarter will prob
ably have sufficient funds to meet all
demands upon the state for the current
expenses. .-..-. -..,-~.....,-... ...
The examiner calls especial attention
to the permanent school fund which was
established little more than two years
ago and has ''already reached gigantic
proportions" The total collections OF
this fund to 1892 are s3777,O57O7 derived
from the sale OF school lands. This
amount has been nearly all disbursed in
the purchase OF bonds, and IN premiums
on bonds purchased, there being but
sl,723.9S in the treasury. The examiner
states that sl6,125.19 were paid out by
the proceeding state treasurer for pre-
miums on bonds purchased. This should
not have been paid out Of the permanent
| school fund, and should be replaced
from the interest and income fund.
These sci ool bonds will bear an average
rate Of interest of about per cent, or
s25,2l6.3S.
This revenue and money raised from
the sale Of school lands is only one-fifth
OF the purchase price Of the lands sold.
The remaining four -tifths is drawing
interest at not less than 6 per cent,
which gives an additional income for the
state public schools of s9O,9OS.44 or a
total school income per annum Of Sl16,-
l24.s2. This will be largely increased
from year to year as school lands are
sold.
The examiner states that the system
OF keeping accounts Of the state auditor
and treasurer affords complete check
in the receipts and disbursements of all
funds. The fees collected by the secre-
tary of state for the last fiscal year, and
for the year ending Oct. 3lst, 1898,
amount to s4,523.35. This is from fees
allowed by law and the corporation tax.
The commissioner of insurance turned
into the state, on collections, for the year
ending Oct. 3lst, 1898, S23,93S.9l.
The state institutions are referred to
but briefly. The suggestion is made
that the system of keeping accounts at
the agricultural college may be changed
with great advantage. The system of
accounts adopted at the state penitenti
ary is highly compllmented, as we'll as
the very systematic record at the James
town hospital. The farm accounts OF
the hospital, says the examiner, should
be kept separate so as to make::a com
plete record Of all expenses and income
relating to the farm, This being done it
would show advantageously for the
management.
The county finances throughout the
state are in good shape. The examiner
will suggest to county treasurers and
auditors a more simple and complete
form Of accounts. of a uniform character.
which, be says, seems desirable to intro
duce throughout the state for the keep
ING of county records. No defalcations
have occurred IN county offices during