The Washburn leader. [volume] (Washburn, McLean County, N.D.) 1890-1986, 1901-10-26
SCHOOL fund
RECENT LAND SAIL by STATE
AUDITOR DUNN GIVES 1T BIG
@- LIFT.
MOST SUCCESSFUL EVER. HELD
ONE-HALF OF THE PUR-
CHAsERs ARE FARMERS
FROM IOWA.
100000 FOR the SCHOOLS
AVERAGE PRICE RECEIVED FOR
LAND WAS ABOUT $40 PER
ACRE.

st. Paul. Mimi. Special, Oct. 81.
The sale of state lands concluded Fri
day gives the permanent school fund the
biggest boost it has ever received said
State Auditor R. G.. unn when seen at
his residence last evening. about ST.
COO, 900 is added to the permanent school
fund, which will yield an annual income
Of $4,000. In addition to this, the fund
receives a large sum from the delinquent
interest paid just previous to the SALE"
The sale was by far the most successful
ever held by the state. In all 127, go
acres Of land were sold at an average
price Of $40 per acre. About four-fifths
of the lands were school lands.
Both in the price secured and the de-
mand for the and the sale was a record
breaker. Fully 5000 more acres could
have been sold in Red Lake and kittson
counties had there been no limit to the
total that may be sold in any one year
It was also necessary. on this account to
Ian In Morrison and Benton counties.
Half Arc Iowa FarmcrA.
Mr.. Dunn attributes much of the sue
cess Of the sale to the extensive adver-
Using that was done. In addition to adj
AA paPSASS kAS VA
the sale were published in a prominent
Iowa paper. As a result, hundreds Of
inquiries were received from farmers Of
of the new settlers in the Red river val
ley, he says, arc from Iowa.
"They are just the kind of settlers the
state needs" said Mr.. Dunn. Having
sold their Iowa farms at high prices, they
1~1 -4k 1nI,r ohl1 ~ ,,,r1D~~ Jou~ov
farms in Minnesota, but in addition to
the machinery n stock they bring to
the new farms have sufficient surplus
capital to erect substantial buildings and
have a bank account. They are well-to-
do from the start.
The high price received for the lands
was due to a large extent to Mr.. Dunn's
personal action in entirely disregarding
the appraisers values, the minimum price
ut which the n could be sold. In ever
instance he raised the appraised value at
least 81, and in many instances much
more an acre. No land was sold for less
than 81 an acre.
Heads on Speculation.
This action was taken by MI. Dunn un-
der the law which gives the state auditor
power to withdraw any piece of land from
the sale, when he deems 1t to the best in
terests of the state to do so. Whenever
the minimum price fixed by him could not
he obtained, the land vas withdrawn from
the sale. This prevented spectators from
securing the land without paying an ade-
quate price for it.
The sale was also a banner one, in the
amount of delinquent interest paid on
lands sold in previous years. When the
land is sold a cash payment of Is pei cent
is required. The balance may be paid at
any time within forty years. and bears 4
per cent Interest. AS the interest becomes
delinquent, the lands are resold unless the
interest is paid up to date previous to the
day Of sale. In Polk county alone, about
$4,000 delinquent interest was paid the
day before the sale.
Delinquent Interest Paid.
Fully nine-tenths Of the land advertised
as delinquent was withdrawn from sale.
because Of the interest being paid. This
brings an immense amount of money into
the treasury at once. As the larger part
Of the lands sold are school lands, the
permanent school fund will be greatly
aided by this item in addition to the pro-
cceds OF the sale.
AS near as can be estimated the total
sale by counties was: