The pioneer press. (Miller, Hand County, S.D.) 1893-190?, 1896-01-02

Sioux Falls. :. D.. Sppcial-State
Auditor Nipple and Commissioner of
Lands IOckhart are in town. appra'S-
ing the Taylor lands located in this
county. This practically finishes the
work of the commission, and ~ the
las: Of the week they VIII lc able to
make their final report. \ consider
able amount of the assets turned IL.
inClUding Il number Of notes. will not
be appraised. as the commission las
no means Of knowing their value. ami
as Il journey to several Eastern states
would be required to learn the facts.
The entire expense of tie appraiSc-
mcnt is stated by Mr.. L0ckhart 10
have been about $500, the TIVE gentle
men receiving only their actual cX-
penses. They have gone into nearly
every county in the state. including
the Black Hills. and Mr.. Nipple went
to Cripple Creek. Col, where Taylor
had some Investments. In most cases,
where the equity was of much value,
they have personally investigated the
lands ard have taken the advice Of the
county SuperintendentS Of schools.
I'm Il number of cases, hOweytr. The
mortgages upon the lands were so
great that there is no equity, II the
commission has Spcht little time on
these. Both gentlemen declare that
they have been exceedingly C0nScrva-
tive in their estimates. and that. as Il
whole. the property Is worth fully
the sums set. HcduCting III incum-
brances, which amount to between
500 OB and $4,000. the appraisal
shows that the value of these lands 10
the state is about SI0.0GO. if fair time
is taken to sell them. SO far. the state
has received III cash from Taylor SIS
600. The banks had on deposit at the
time Of his default $4,000. Taylor
turned over in cash last SumimCT 500
DGO. and the Cripple Creek property
has been sold for $1,000. The total re-
ccipts. therefore. including these ap-
praised properties. have been SOD
600. which leaves Il balance still due
of SlGT.O 600. This the state must get,
if at all. from the bOndSmen. The
commissioners state that this balance
cannot be collected until the property
is sold. ard this will take some time.
Said Mr.. Nipple:
lit will be impossible to sell this
property until after the meeting of the
next legislature. 1t is to be remcm-
bered that Taylor turned over this
property voluntarily to the state. Civ
ing deeds to the State of South Dako-
Ia. Consequently. as there is no one
permitted by law to receive and dis
pose of the states property. II as no
law exists for selling it without the
express authority of the legislature,
there is no one who could give Il valid
deed and no one who would bid. 1t
was suggested that Taylor be required
to deed the property 10 a trustee. who
would then be able to sell the proper
" and turn the money over to the
state. but the state authorities thought
this unwise. The reason for their re-
fuSal to follow this idea was that the
lands must be all sold under cXecu-
ton in the, various counties. which
would cost for advertising ana other
expenses. from $4,000. to $lI.0Oo, and
most of the prOpert yWould return to
the state. since, under tie law passed
last winter the state must bio II in.
unless others bid more than the an
praiSal. 1t was thought best rot to
incur this heavy expense. the officers
believing that the state would get
more cut of il by waiting and allow
ing the legislature 10 dispose of ii.
We recognize that. in the present hard
times. it would be impossible to get
the full value )ut of the lands. We
have a Judgment against the bonds
men fer the balance. but Of course.
this cannot be collected until the prop
crty is sold, for probably the courts.
in determining the amount due from
the bOLdSmen. would not consider our
appraisal. but would demand a Judi
cial determination of the value, which
could only be an actual SALE