The Montgomery tribune. (Montgomery City, Mo.) 1892-1910, 1901-11-15
p1 9S'fl ceoaNsvviE:iRTTiRsD iNSrroj' S sssssi II T.

Of New Madrid. introduced senate bill
| No. ~, entitled. An act TO. consolidate
| Funds In Certificates OF Indebtedness OF
the State. bearing six per cent. interest.
and TO provide for canccling the State
| now held In trust for said funds" And
on March s.. following. II was passed in
The senate by a unanimous vote. The
ayes were: genators Allen. Bradley, Bry-
ant. Byrns. bland. Cnbeil. Caldwell. Cot
tey. De Almond. Dobyns, DUNCAN, Ed
wards. OF Lafayette. G~ottschalk.. Heard.
H%easton. HUT, Lloyd. Mcmahon. Mabrey.
Mnckay. Manistre. Manrlng. Morrison.
| Naylor. Pehlc, Perkins. Rogers. Rouse.
stephens and Walker-total. 30; absent. on
Headicc and Jacobs; sick. senator Me-
Groth,.. Pagc 800. senate Journal, 1871
In the house the bill was passed by n vote
voting IN tho negative,. Among m lead.
Ing republicans recorded ms voting for
the bill may be montioned; Allen, OF
~. Louis county Bell. Of Jackson. Bon
ham, OF Andrew; Bryant. of Douglas;
Cochran, OF Lawreneoi Crawford, Of Dcr-
ton; Grnbenhofsi. OF 81. Charles; Harper.
Of Putnam; Iiayhurst. of Franklin; Horn
beak.. OF Christian, La~ndonturg. OF Gas
conade; Low. OF Mercer; Moody. OF 81.
Louis city; Neville, Of Harrison; Norris,
ssrnldSosws.' s 81 FHGls eNSrS;, = Tay -; a Of Gru s,sy.
and others. page los, house journal.
lSi) The bill with emergency clnuse)
was approved March q, iSSi ~. 2ot,. Laws
-Ff Ih' ' w WV aNAlANNtNNHNNN-
crs TO Issue a non.negotlablc certificate OF
Indebtedness. payable 30 years after date.
s oman = ,psr sent in,srgaii for the
cent. bonds. and the Sg0lo certificate OF
Indebtedness then held In trust by She
state for the school fund. TO be "sacrcdly
preserved In the state treasury for the
permanent school fund ~ the stntc,' and
another 9 per cent. certificate for the l22
Missouri state & per cent. bonds belonging
TO the seminary fund. Mhcroupon the
fund commissioners Issued a consolidated
state certificate OF Indebtedness TO tho
state board Of education for 0.po.0y. and
inc records show that the eco bonds and
tho 10000 certiicate-the one issued BY
the liberal republican administrator on
Wy j. lsts-werc. duly cancelled as the
law directed. .sectiCn ) provides that the
certificates Of Indebtedness issued under
the act lust quoted shall remain n sa-
crod and irrcvOcablc obligation of the
state, unconvcrtihlc aud untransfcrablc
for the purpose Of It's issue. but shall re-
main M so much Of the permanent school
fund and OF the seminary fund aa ia rep.
FuRTIiER 'pNvFsTMTST pIS tcsElgn.
TIFICATES DIRECTED.
On the iith day OF January, 1875. scna-
bin No. 8. entitled IAN act TO provide
for tho permanent Investment OF any
moneys remaining In the state treasury
l Tuna pe'onslns 70 s,,hf r, 'hc pqphhe y. ss'S,oi
or that may hereafter be paid into the
State treasury. 10 be added 20 either Of
said ,gnds, and TO provide for eaneelinE
amy educational institution under tho con.
troll OF the State by issuing therefor Ger
tincntes OF Indebtedness of the State
bearing 8 per centum interest per an-
mum. payable s~emi-nnnualiy." which.
with the emergency clause. received cv-
cry vote cast in the senate VIZ Senators
Crcsap.. Diiley. Dobyns. Downing. Dun.
gan. Edwards. OF Lafayette: Edwaris. Of
s. Charles: Ferris, maliisnrlon. Heard,
risson. o'Brien. oliver. pehic. Rogers,
Rouse. %stephenr. Walker. Wear and Yam.
ccy-totai. y. absent. Senators Hathaway
and McGrnth. absent on leave. Senators
' lAilon and Davis. page 2ts. senate Jour
/, nal. isS3.) ON March % ana 20 the senate
bill was amended by the house. and the
|, noes. Tho members voting for n
against ths bill belonging To both politi-
voting In tho affirmative may he men
toned such distinguished leaders Of tho
. TspSs1issn psr,g an h,len, o. s.. k1u,si
whiimcr. Of Holt: Whybark, Of BoIiin.
!. ger; Mucnch Of Warren: Murphy. Of
/ Franklin; ~Grahenhorst. OF ST, charles,
house Journal. isN3). The house amend.
, ments were agreed to In the senate by n
vote Of ayes, ". noes. ! Senator Bald
= 1883 ~. $50. Laws. 1851.
= Under tho act OF lSN9. i've certificates
! OF Indebtedness were issued 10 the school
I, fund. amounting 10 2ia,ooo. and u 10 the
seminary fund. nrgregn,ing tllt0o.
BoNDED DEBT REDUCED nYTRANs,
/ FEIlS TO SINKING FUND.
, Ma state bonds have been taken IN un-
u der the act Of March 81. 1879. and II II
a prope to explain that while this act doci
not require the school and seminary fund
!. moneys. for which certificates Of indebt.
= cdncss are issued. to be placed in IN,
( sinking fund and used for the reduction
Of the public debt. II has evidently beer
I NIA .-HNlAN ~. 90 IA. =. .. -
> ADMINISTRATION since the passage and M,
= provnl Of the act not to issue certificate,
I, In excess 81 the amount Of money trans
: fcrred from tho school fund. seminary
, fund or revenue fund. to tho ainkinl
7 fund 10 pay on bonds. 40 that tho debt
! Of the state ba not Increased. In violation
! OF the constitution, by reason OF the iHsu,
e Of certificates. An inspection ~ the book
y OF this department shows that the FOL
lowing sums Of money have been trans
" ferred from tho funds lust mentioned 1,
the sinking fund and used for the rcduc
tion OF the bonde debt since the passng
Of tho act Of March ~, 1888;
From the revenue fund ........s JGS, O0 q
From the school fun O.. ....... 22l.O 900 q
From the seminary fund ...... Gii,s5s 2
Total amount transferred TO
sinking fund n.iS'. 9s Q
The total amount Of certificates
" Of Indebtedness issued to The
y school fund since March 81,
. lh3 ..s..s.. .ss.ts..ss.s.ss 2f9,nR0 0
p The total amount OF certificates
y OF Indebtedness issued TO tho
seminary fund during hat
timo .."....,.", .,,,...."..".., i.iia.s $40 4
Is Total amount OF certificates
Issued .....,.... .............. 81, SO, SO
I; II will be noticed that si05.ilssi NOR
q money has been put Into the sinking fun
to pay on bonds iron other sources tina
the state interest fund.-, than tho aggrc
- gate amount of certificates Issued TO IN
school and seminary funds under tina