The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-01-02

the State as Represented in Diff
fcrent Lands and Sources of Rev
enue.
ST. PAUL Dec. 27.-Advance sheets of
State Auditor Biermanns annual reports
have been given to the public. They are in
part as follows
IF it must be acknowledged that the
state is unequal to the task of guarding
what is left of its wealth of timber until
such time it shall be eXpedieat and
profitable to dispose of it, then few
suggestions as to a effective control
or the disposition of that part of it liable
TO damage may not be out of place. AS
TO examiners the law should require ;hat
they give bonds for the faithful and I'M
partial discharge of their duties, ana 'hat
examinations. including those of lands al
ready cut over, be made from actual View
anu IN detail, in tracts not larger IMAM ~
acres or subdivisions approXlmathe mere
TO- The report of these eAamnae lons
should be verified by affidavit of tn eN-
aminer
II find from the records OF the state land
office and from other sources that the state
mas suffered great loss in the disposition vi
our swamp lands granted by congress-
From a full investigation and mature re-
Hection bestowed on the matters IN COLI
troversy, | am of the opinion that redr2sS
should be sought either from the secretary
OF the interior or through congress
II nder the law of 1889 regulating tne
sale and lease of mineral and other iaEGs
belonging to the state. 20So prospective
leases and 81 mining contracts have been
executed. Naturally much of the Iahd
covered by these leases has been apantohei
SO far the search for mineral Is con-
cerned and, in some cases, the annual FAY
ments due the state under contracts remain
unpaid. Where the abandonment OF the
land embraced in those contracts Is conciu-
sive!y shown. the contract has been some
times Cancelled, and new leases nave been
allowed TO be filed
REVENUE FUND.
Detailed statement of ali operations
through this and the other funds are given
in the body Of this report. For the fiscal
year 1885, ending July 81 of that year, the
following total estimated receipts into and
disbursements from the revenue fund are
given, as well, as is the custom, for the ifs
cal year 1895 and 1897:
Receipts
$s,6il, 46lls ss,esi,ese. ss.762 sss. &c
$2,9o3o7l 10 $l.7s5 10000 s., o2s 100000
THE tax receipts for the years 1896 and
1897 are based on 1.5 mills levy.
THE amount of outstanding warrants
July 81, 1894. $3l4.607.SS. includes S2i2,305 is
sued on account of the capitol site and
payable. without interest, one-fourth on
Aug. l in each of the years 1875, 1896, 1897
and 1898.
1T will be noticed that in the foregoing
table 1t is assumed that at the end of the
fiscal year 1895 all outstanding warrants and
available appropriations will have baen raid.
1t Is not likely that such will be the case
as to appropria tons, and. to outstanding
warrants. all of the capitol site warrants
Will be outstanding on the 31St of July, 1898,
with possibly $50. 900 or 500 900 of the regular
issue in the regular course of business. In
fact, the cash hand will be more nearly
$l.200,000 than the $73S, $50 IS given in the
table.
of the taxable value of all property in the
state for the tax lists of 1894 would be
$500, 100000. That for 1895 and 1896 lists at
5000 100000 and 500 900 respectively.
owing to the heavy decrease in the
gross earnings of our railroads the receipts
from this source have fallen away since
the end of the fiscal year 1898, but in the
natural order of things this condition will
be bettered. The estimated receipts from
this source, given in the preceding
table. are thought to be entirely within
the bounds of probability.
LOAN AND TRUST COMPANIES.
"The following loan and trust companies
have complied with the law, and have on
deposit mortgages and other securities in
the amounts indicated:
minneapolis Loan and Trust Company
Minneapolis, SOL, $50; Metropolitan Trust
Company, Minneapolis, $1,000; Minnesota
Title Insurance and Trust Company Min
neapolis. $lOO,375; Minneapolis Trust Com
pany, Minneapolis So, 500: st. Paul and
Minneapolis Trust Company, Minneapolis
500, 56479; st. Paul Title Insurance and
Trust Company, st. Paul, 100000; ST. Paul
Trust Company, st. Paul, $780, 600; Security
Trust Company st. Paul, $102, S59.04; Du-
luth Trust Company, Duluth, s1OO,s12
American Loan and Trust Company, Du-
luth, $1OO,25o Total, s1,034, 71OS3.
Internal Improvement Fund-Five per
cent of the net proceeds of the sales of
public lands is paid to the state by the
general government, and forms this fund.
At present there is a balance of 80 72s Ga
amounting to sl6,956O3
State Debt-The total funded debt of the
state on Aug 1, 1894. was as follows:
Minnesota funding bonds QS90
3l2 per cent Observation-Disclosures. 81, $50 600 90
Minnesota revenue and build
ing bonds Observation-Disclosures. SOC, 900 90
Total Observation-Disclosures. s., 9o9, OO0. 90
Deduct cash in redemption fund. 4O1346O
Deduct amount III sinking fund.- % $50 %
Total ......................... $66, SIG. 80
Actual state debt .............. 81 800 ia II
Loans to School Districts and Counties
These loans are constantly increasing and
have been made follows:
To 1850 school districts. ...... S. PA 40 90
Total 81, 440, $50. SO
THE LAND DEPARTMENT..
permanent School Fund-This fund now
amounts to $l0712, 1850, an increase of
$579, 252.17 since my last report. The aver
age price of all school lands sold is & o.
per acre. The permanent school fund will
eventually amount to no less than 500. 600
Co., Following is a statement Of the accu
mutations and investments of said funds:
ACKNOWLEDGEMENTS of lands, 49,
ASA; amount paid on forfeitures, rights Of
way, etc, $ll7,5O5.74; sales of pine timber.
$1,57S, 0567 20; mineral leases, $500; ROYALTY
on iron ore, $66, 75627: profits on sale Of
bonds, s2S5, Pa; total, $1O.712, 1880
The permanent university fund now
amounts to $1.034 067 .05, an increase of s33
G21S2 since my last report, and WILL in all
probability, grow to amount to 100 OOO
The income is devoted to the support Of
the State University. Following is
statement of the accumulation and invest
ments of said fund:
Accunluations-Sales of land. s1S9S5 7s
amount paid in forfeitures and rights 90