The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-08-02
STATE OF STATE FUNDS.
Treasurer KOerner's Abstract Shows
Prosperous Commonwealth.


State Treasurer Koerner has just is
sued a detailed statement Of the value
and distribution of the bonds owned
by the permanent school fund and the
permanent university fund, held in
trust by the state.
The statement gives $734,S00 as the
value of the bonds owned by the per-
manent university fund, which in
cludes Tennessee redemption, Minneso-
ia FUNDING and Virginia funding bonds,
Alabama consols and Delaware bonds.
The university fund is also credited
with S5l4,139 which is outstanding in
land contracts, to say nothing Of the
large tracts of school land all over the
state which is sold from year to year
and credited to this fund The land
contracts draw remuneratve rate of
interest, and the amount outstanding
in these contracts, which brings the to-
tai credited to this fund up to $1,24S,-
939, is considered by state officials as
a gilt-edge investment
During the past year there has been
an increase in this fund Of $4S, 900,
$4,000 of which is an increase in the
value of bonds purchased, and $4,000
increase in unpaid land contracts. Of
course, this does not represent the en-
tire transa ction in this fund during
the year, as a large amount goes an
nually to the support of the university.
Mr.. Koerneras statement gives some
big figures when it comes to the per-
manent school fund. The $11,371 1868
credited to thefschool fund is represent
ed by an investment of $4,90469 in
the following bonds Tennessee re-
demption bonds. Minnesota funding
bonds, Alabama consols, Alabama
Class A ard b bonds, Massachusetts
IS and 3las, Virginia funding bonds.
United States IS and school district
and county bonds As and 5s. An item
of 6,466677 is credited to the school
fund which brings the total up to the
figures given above.
The school district and county bonds
As and 5s are home investments. Coun-
ty commissioners can secure a loan
from the state for internal improve
ment by issuing bonds to the state.
The school district bonds are also held
by the state und r tie same conditions.
The perma nent school fund has to its
credit over 100000 more than in 1897.
Mr.. Koerner's statement also gives
a summary of the payments made on
the state debt. The first payment on
the funding bonds issued by the state
in 1891 to refund a former bond issue
became due Jan: l, 1897, when a pay
ment of $150,066 was made and at the
beginning of this year 100000 was paid,
making a. total of $240.000 worth of the
funding bonds redeemed since Jan. 1,
1897. The original issue amounted to
81 659, 900, the amount of which has
been reduced by the two payments to
$1419. 900. The state will be prepared
to take up another $3.50 900 worth Of
these bonds the first of the year.
This is the only debt which stands
against the state, and otherwise the
state treasury is in excellent condi-
ton, having an available cash balance
on hand at the close Of July, to the
credit Of the various funds, of $2,1S4,-
e12
The Chicago, st. Paul, Minneapolis
& Omaha railway yesterday added to
the states exchequer $45, 1885, in pay
ment of the 8 per cent. gross earnings
tax, representing total earnings for
the first six months of the year Of
81 Sic, 221 81. The st. Paul & Duluth
railway also enriched the states strong
box by $40, 409.60, as a 3 per cent gross
earnings tax on $3.50, 320.12, it's earnings
for the same period.
The state university yesterday hand
ed in a check to the state treasurer
for $3,972.55. as the miscellaneous re-
ceipts of the various departments of
the institution for the quarter ending
July 81.