Evening journal., 1897-01-05

property has been increased by the fol-
lowing real estate:
State Hospital at Farnhurst...S 100000
Addition thereto, now nearing
completion ......... ............ 31,VVVW
Troop b Armory, at Whining
ton, purchased by proceed
ings under foreclosure of mort
bhbc ...-..t...t... ..+ts.s.s....s- IlVuONNV
State Library, addition TO State
House .......... ..... .... lO.oOco
Total extraordinary eNpendi-
lures on account of real cs-
tate ........... ...................$ l3O,VuVOV
The state treasurer's report for 1896.
whicn cannot be completed until after
the preparation Of t,..s message. will.
am informed by him. show that the
estimated receipts for 1897 will fall
short by considerable sum OF the es-
timated expenditures for the same
year The reasons for this will be
given in full in saidreport, and ] would
recommend a careful consideration of
the same by your honorable bodies,
so that ample provision may be made
for all the necessary expenses of the
state government
From the foregoing statement you
will observe that the aggregate in
/ debtedness of the state, which bears
| interest at the rate of four per centum
/ per annum is S195.000; of this amount
| bonds aggregating $4,000 are due
| July 1, A. d. 1901. but redeemable at
the option of the state on any interest
day after January / A. d., 1898, and
/ the remaining $4,000 are due June
/, A. d., 1907, but redeemable at the
option of the state on any interest
day after December T. A. d.. 1895.
The entire four per centum per annum
bonded Indebtedness of the state is,
| therefore, redeemable at the option of
the state, on the next interest day. The
high standard of the states credit in
financial circles has already brought
forth applications from enterprising
capitalists who are desirous of negO-
tiating for the extinguishment OF
these obligations at a lower rate of
interest; and while these bonds are re-
deemable at the option of the state
there is no authority upon which the
state treasurer can issue new bonds
in liquidation of this debt
recommend therefore. that you in
vestigate this subject and that yOl
authorize the execution and sale o.
bonds at a lower rate of interest, anI
the retirement of the $l95 600 bOnde,
Indebtedness at as early a date a
practicable. The feasibility of Tai
b scheme is manifested by the eagernes
b with which investors sought to secur
the state bonds when the last loai
, was negotiated. a matter which will b
subsequently commented upon.
. DELAWARE STATE HOSPITAL AT
FARNHURSI.
BY chapter 1872 volume 20, Laws o
Delaware, the General Assembly, a
it's last session authorized the sale
I bonds to the amount of $4,000 by In
sta1e treasurer said bonds 10 be know
: as Delaware State Hospital Improve
: ment Bonds, and TO bear interest q
b the rate Of three and a-half per cen
o tum per annum, payable semi-ar
h nually, the sale OF such bonds havin
= for its object the prOcuremer
n means for the erection and equipmer
n of additional buildings to the Dela
. ware state Hospital at Farnhurst. Pun
d suant to this authority, the state treas
Il urer advertised for sealed bids for sue
/ bonds with most gratifying results
4 Bids were obtained, among others. froI
capitalists in Boston, New York an
o Philadelphia, besides numerous HON
# bidders. The eagerness with which tn
h | representatives of financial house
q from without the state sought to oil
g tain these bonds, and the premiums Oi
1 fered for them. is a most gratifying i
q lustration of the faith that obtains b,
n yond our borders relative to the state
e financial integrity.
# 1t is further gratifying. however
n state that Notwithstanding sharp con
petition, one of our state institution
Il was the successful competitor tn
Security Trust and Safe Deposit Con
- pany, a corporation of the State of De
a aware, being the highest and best bic
70 der. secured the entire issue at a priC
n paid of thirty-six thousand five hui
l. dred and sixty-eight dollars. being
n premium of one thousand five hundre
m and sixty-eight dollars.
70 Immediately after the sale of the!
!. bonds, the State Board Of Trustees
~ the Delaware State Hospital at Far
y hurst made preparations for the ere
"a ton and equipment of suitable bull
~ ings. There is now nearing cOmpl
n tion a building one hundred al
IN eighty-six feet in length, running
right angles with the old building az
connected with it by covered passag
ways twenty-five feet in length. III
u building contains accommodations f
ne ninety patients in cases of emergenc
C. but seventy-fve patients may be said
ny be the comfortable limit of its capacit
III 1t is equipped with ali modern app
sc ances including the rain or spray bat
II which has been adopted by the Ne
st York Commissioners of Lunacy,
place of bath-tubs. It is lighted
DIT electricity, thoroughly heated and W.
e ventilated. The building has been pla
tered throughout with adamant. I
floors are deadened, and it is well su
piled with means of escape in case
"V fire. The contracts for the erection a
Loo equipment of the building were Civ
to the lowest bidders. Il is also piles
'w ure to inform you that the contracts
LOO all cases Except the construction
fire escapes) were secured by contra
oo ors who reside in our own state. 7
- building will doubtless be ready
300 occupancy about the lst of Februa
next
md FREE SCHOOLS.
The Importance OF an efficient Fl
school system is incapable Of excess
ouO emphasis. There is no subject d
more directly and to a greater deg
600 affects the interests of the whole D
pie. The moral, physical and INTEL
oW fual standard of the inhabitants OF