The daily journal. (Salem, Or.) 1899-1903, 1900-01-26

Interest on bonds. .......'... / 473 so
Interest on notes ............ GS5 90
Election ..... .......... 90. 80 90
Telephones s................. 45 90
Taking census. us.............. 55 90
Incidental expenses for wood,
insurances, etc ............ 500 90
lota .,.......,. .....,,,. .Slo OH oO
"This added 10 the floating indebted
ness, makes total Of S23, 1856 In July
|, 1900.
"The estimated indebtedness Of this
year compared with the last (Which was
$50, ,923.05) shows decrease Of 81, ,724.39.
This is due to the sale of South Salem
property and prompt collections OF
taxes; also reduction in salaries, as
our payroll is about S75 per month less
than last year, and persistent pruning
down wherever it seemed possible to do
SO without injury TO the schools.
VALUATION or PROPERTY.
"The total valuation of taxable prop.
erty in this district for 1899, as certified
10 )y the county clerk, is S2,22l 1881, be-
ing $Sll, ,76s less than that of 1898. A
levy of six mills on this amount would
produce the sum OF $l3,32s; OF this sum
a delinquent tax of $500, as estimated
by the board, will leave 81, ,s2s.
"We expect to receive from the state
and county tax, $l2, 800. This, together
with six mill levy on taxable property,
will bring total Of S2i 1928. We do not
deem this sufficient to pay running ex-
penses for one year, but may have to
borrow from time 10 time until taxes be-.
gin 10 come in. Ii the district can be
authorized to bond the floating indebted
ness at 4 per cent, the interest saved
thereby would be quite an item.
RoNDs.
"Besides the indebtedness on July l.,
1900, Of $23, 1886, we have bonded
Indebtedness Of $4,000, falling due ON
September !, 1900. IN view of the fact
that the assessed valuation of taxable
property in this district for 1899 is but
81, ,22l 1891, and in orler TO redeem the
bonds falling due, it will require levy
OF Z mills for this alone, which we do
NOT recommend, but think il advisable
to reissue these bonds.
"our bonded Indebtedness at the pres.
ent time is S43 $50, as follows:
"lssued September /, 1885, payable IN
10 years, at S per cent, $4,000; issued
October 3, 1890, payable in 20 years, at
o per cent, $4,000; issued April :, 1891,
payable in 20 years, at g per cent, Sl4,-
$50; total, $lS $50.
''The law limits our indebtedness to 5
per cent of the taxable property of the
district.
THE POLYTECHNIC SCHOOL.
1--WE have rented one room in the
Polytechnic building at rental of 500
per year. At present we have 33 pupils
enrolled there.
INSURANCE.
We carry insurance on all of the
buildings and furniture, aggregating
SIS, 400, AS follows:
East building g....... Sl6 OOO
Llho9in building ,,.........,.. 1000
North building. ....,........... lO'5OO
Hew Park building g............ lO'OO0
DIS central building ,.. . 500 |
Little Central building ....... 400
Total sIs 400
"A majority OF these policies expire
February Is, 1901.
TENTH GRADE.
I'VE beg TO recommend the introdne.
ton OF a tenth grade for this reason
under the present system the pupils on /
an average, graduate at the age OF l5 or
10 years, when those who are unable to
attend advanced colleges, considering
their public school education completed
90 forth into the business world seeking
employment at an age when, il the ops
portnnlties were provided them, they
would be enabled 20 continue their edu.
alton until Is or 10 years old, which
would better fit them for the beginning
II business career.
THE LEVY.
In conclusion, We recommend that
'ou nix the levy at mills-6 mills for
'aying running expenses of the schools
td l mlli 10 furnish new heater.
Respectfully submitted;
III. t. BRUcE,
WN. CHRRRINGrON,
III. A. JOHNSON,
Nj. l.. CHAMBERLIN,
i, l.. DAVIDSON.
"BOard az diracfors sohool .lis..g. |