Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1898-06-23
Indications of a Falling Off in the
Value of Personal Property
in State of Iowa.
MAY MAKE UP LOSS ON REAL ESTATE.
~r,, uo.ra os Control About to AS
sumo POwer-DispOsai OF
Warrants Recruiting Tor nes
ments Now i'm the Field - o'heF
Stnte News of General Interest,".
Especial Correspondence

|
of assessment of personal property LOT
1898 10 the auditor of state, and the IN
.dication is that there will be consld-
cradle falling off in the valuation OF per-
.sonal property, but part OF 1t Will be
made up by the addition to the realty
assessment on account of new build
inps. The state board of review may
also add to IL somewhat in the process
of equalization, or review. Only ABOUT
80 counties have reported, so 1t IS I'M
possible now to estimate with any de-
gree of accuracy what the net result IN
the entire state will be. Some OF the
counties are very much reduced by the
operation of the new law, while others
are largely increased.
The result depends very largely upon |
the assessor and upon the system OF as
sessing that has been in vogue IN the
county heretofore. If the county has
been assessed on a high valuation, 1t
will show heavy falling off under the
new law, and if it has been assessed at,
:say'20 per cent. of its cash value here
tofore, It ought to show gain this year,
and if the assessor has done his duty IL
will. Take the two counties OF WASH
ington and Van Buren,, for instance.
Last year the personal property assess
ment of Washington was ST ,S61 isl, and
this wear it is $1,131 ,6T2, falling off OF
S729.5 $40, or over 80 per cent. Van Buren,
county was assessed on personal prop
erty last year $1,100,299 and this year
:S663,767, decrease of S436,532. or over
80 per cent. Other counties will show
gains, but not as large as these losses.
The net decrease in personal property
valuation in the state may amount to
1000, 900, but it will be partly overcome
by the additions and changes in other
ways, so that the net reduction Will not
be as large as feared. The reductions
were occasioned by the listing OF prop
erty at it's full cash value, to be as
.sessed at 25 per cent. thereof. People
would not give in the full cash value
when they had been accustomed to CIV
ing in only 20 to 80 per cent, so the
.operation of the new law reduced the
net valuation below what it has been
heretofore.
The Board of Control.
The board of control is about to as
sumo its full and almost unlimited pow
or over the state institutions. 1t will
take charge July 1, and will then begin
to make heavy cuts in salaries and pass
upon every purchase made by the
stewards Of the several institutions
The boards of trustees will leave enough
.on hand to run the institutions until
August /, since the new law makes IL
the duty of the stewards to file requlsl'
lions with the board of control before
the 18th of each month for what is re-
.ouired for the following month and the
board itself has no authority to pur
chase. 1t is probable that an expert pur
chasing agent may be employed, wht
shall make it his business to inform
himself thoroughly on the prices ant
best places to buy everything needed
by the institutions. The New 4orl
board of lunacy, which manages all tn
hospitals for the insane in that state
employs such a man at salary OF "a
900 a year and he saves great man.
thousand dollars for the state durin
the year.
Disposal of state Warrants.
The old system of disposing OF stat
warrants mot paid for want of funds
will be followed in the future and tn
law passed by the legislature authoriz
ing the executive council to sell wal
rants to the highest bidders, in antic
patton of state revenue, to raise none
to nav warrants issued in pursuance c
appropriations, will be ignored. 1t
considered unconstitutional because tn
state constitution expressly says tia
no money shall be paid out of the stat
treasury except upon an appropriate
by the legislature. There is no appr'
priation covering the payment tn;
would have to be made when such
warrant came due; there is no provisio
for drawing the warrant, the law bein
very uncertain in this respect. NO OF
can say to whom, and upon what a
thority it should be drawn, nor does II
law direct the auditor of state to dra
fhe warrant. The executive council wi
therefore not act upon the law, whic
If it is valid, would authorize the count
to issue and sell a warrant July 8, Il
beginning of the fiscal year, for 81, 5o'
900, the full amount of the anticipate
revenue for the next year. The rate
interest has been reduced to five
cent, and State Treasurer Herriott
confident that he will be able to mo
ready market for all stamped warrant
SO the persons and institutions recei
ing them will be able to get the
.cashed at par, without hunting abo
for a purchaser.
Filling Up the Regiments.
Recruiting for the four Iowa re
ments now in the field, to bring them
to the required number, 1926 men ea'
has commenced. The Fifty-frst re
ment, the one that goes to the Phil
pines, has been nearly filled, and by t
time this is read, will have its full quo
of men in camp. Its recruiting static
were in Des Moines, Creston and
Oak and about ten men were Offer
for every one who could be accept
The recruiting details from the OIL
regiments suffered delay in receivi