The daily journal. (Salem, Or.) 1899-1903, 1901-01-11
Reports a Successful Years
Work and Some Progress
How Many Farms Have Been
Sold and the Number
ForecloSed

|
of value to the public. That report cost
about $1,000 to print and this one will not
cost over quarter of that. The pres
ent report omits the long list of notes
and interest and routine papers that are
all on file at the clerks office, and to
which the public can have access when
ever they desire. But the report shows
every cent of money paid out and what
for, and the summaries .of receipts and
| the condition Of each fund. Mr.. Cham
berlain 10 to be congratulated on the
improvements he has made in the land
office and the,energetic manner in which
he has collected the school funds, as
summary Of his report shows.
There was a large amount Of business
transacted in the State Land Depart
ment during the past year, aud the Off
GERS in charge OF the work have been
busily engaged for the past two weeks in
making up their reports for the print.
er's hands, to be prepared for the legis.
lature, which convenes next Monday
The moneys received by the clerk and
turned over to the state treasurer, foots
up to about $240,642.l0. This sum is
divided up and credited to the following
funds: School fund principal, Univer-
sity fund, College fund, Tide Land fund
and Swamp Land fund, the first three
named having an interest fund, TO
which the money collected as interest
is credited. When sales of school lands
are madeif it is for full payment the pur
chaser gets deed and the transaction is
closed and he is expected to pay taxes
from this on, provided the assessor
finds him. Should the purchaser desire
to pay by installments, certificate or
contract is issued to him s.ipulAting
that so much shall be paid each year,
with the interest to be promptly kept mp. |
With this arrangement he must pay one
fifth OF purchase price down, The ad.
vantage Of thisllbargain is that until a
deed issues no taxes are collsctable, hence |
many prefer 10 pay the interest than
taxes. The last legislature reduced i'm
terest 20 six per cent each year. AS the
school fund interest accumulates the
State Board OF Education distribute this
fund among the children throughout the
statc--each child between the ages OF |
and 20 years drawing its rate pro-ratio.
The school fund proper is supposed to be
irreducibe and is increased by the sale !
OF the school lands.
OF the three funds named, School, |
College and University, there are rates
and certificates bearing interest to the
amount of S70l ,5l3.45. The school fund
alone amounting to Ss2l.7l3.79. OF this
amount $3l4,7l3.l0 was school lands, the
remainder being Agricultural college,
University, Tide and Swamp lands, in.
cluded in the sale Of school lands are
those which have been acquired through.
the foreclosure Of mortgages, and in such
where a resale is had the principal sum
is made good, and when IL exceeds that,
the balance goes to interest credit. If a
loss should occur in the transaction, the
interest fund must suffer to that extent.
The aggregate sum Of loans approved by
the board foots mp $049,602.G0. These
loans are scattered throughout the state,
and since the interest has been
reduced, are drawing six per cent
The larger portion OF these loans are
confnedlto the western part of the state.
The law provides that no loan shall be
made unless occurred by first class real
estate, and the limit TO any one individ-
ual is $1,000. The value OF mortgages
within the year 10 sS403, ,7SI.77.
A great deal OF land is sold by the state
upon certificates, that reverts 20 the
state, when default Of principal Bnd
interest occurs and in this case the state !
is ahead just the amount that was paid
by the purphaser, and il the delinquent
loes not pay np within thee years his
certificate is cancelled and the land re.
'old upon first application therefor. 90,
800 73 acres covered by certificates OF {
'ale have been cancelled within the past I
gear. Whenever these lands are re-sold, I
according To law, their fixed value must
be the same as originally sold for.
The present price for school land
proper is $l.25 per acre. Every man or 4
Soman over the age Of eighteen years,
native born or naturalized, can purchase
800 acres and no more.
One source Of income 10 the school
und has been in the collection OF rents
rom ioreclosed mortgaged premises,
which has exceeded one thousand
lollars per month. Heretofore this
natter Of rent has not figured prominent
y in the Office receipts. Interest fund
las been credited with the proceeds
realized from this source The appoint.
nsnt Of state land agent whose
business in part ia 10 look after such
matters is fully justified in the results
shown in this particular The need for
iuch a man has been apparent for years
past and the expense Of his Office has
paid for itself many times over.
STATE Land Agsnrs Refou
The biennial report OF State Land
Agent Geer 10 the Governor was filed
.oiay. The report shows that on April
J, 1899, the state Owned l79 farms, which
we're secured upon foreclosure Of mort.
yages given 10 secure loans from the
rust funds Of the state. These farms
9,5li acres, and represented