Omaha daily bee., 1902-06-03
Source of Income.
Total

Pursuant to orders of the Board of Edu-
%cational Lands and Funds, l have invested
state warrants and county bonds to the
amount of $766, 626. 3S. The total amount
OF such funds INFESTED in interest,bearing
securities since the beginning of the pres
ent administrati ton is 1926 9f sc. The total
amount of trust funds Invested In interest
bearing securities in a like period of seven
teen months of the preceding administra-
ton was $,065, POS 40, or $S60ySS3.5 81 less than
the investments for the last seventeen
investment of $50. 1000 in excess OF any pre-
vious average investment In the whole his
t tp5st Of fp5 tss S paW r Tss total q s a 49, Rso q Sf
being s647 ,0s9. 20 larger than ever before.
On the 18th of May. 1902, the temporary
tribution among the school districts of the
state. Since that date Hon. w. K. Fowler,
state superintendent of public instruction,
ties OF the state. and Hon. Charles Wes-
ton, state auditor, has drawn a warrant
for the amount due each county
Increase in Interest.
The large amount of money received from
indicates that the land commissioner has
been attending strictly to business. The
i M s snlS e Oh asn mt E reTeiye1 on sChooI
taken in connection with the fact that
1861 .232. Y principal on school land has been
Of school land principal and the payment
OF more than 100000 Of count bonds has
operated to decrease the amount of inter-
est received to the extent Of many thou
sands of dollars on account OF the reduction
Of the rate Of interest. Principal on school
lands draws 6 per cent interest. but when
does not draw to exceed 3k per cent, thus
losing 10 per cent OF its interest producing
tionment of school moneys from January,
1897, to January, 1901, was SS0,bSl.47. The
sSs6Sf mo SsmI-a fnr the a p2sssnf 1sTm Of ff
1861, 73S. SO. or 81, 900 in excess OF the average
apportionment for the preceding four years.
I~nterest on Deposits.
The interest on deposit for the half year
amounted to A,7S0.64, making a total of
This exceeds the Interest on deposits for
trstion BY ;s,ss7.S2. All interest received
properly credited to the state as plainly
shown by the books of this office. In this
connection It is perhaps allowable to state
that / have not been financially benefited
either directly or indirectly to the extent
of a farthing beyond my legal salary by
any bond purchase or other transaction of
Since my last report the accounts Of this
ofice have been carefully and thoroughly
examined by an expert accountant, Mr.. H.
A.. Wagner, special agent OF the Fidelity
and Deposit company of Maryland. Mr..
Wagner counted the cash in the vault,
verified the bank balances. checked the
original receipts, listed the vouchers and
tested the additions. The examination re-
complete the work. the examiner being very
efficiently aided by a competent assistant.
The result OF the examination was salts
factory to all concerned. In an interview,
in answer to the question: Are the books
OF the ONCE kept in a business-like and
Ineligible manner" Mr.. Wagner an
swered: Yes; clear, concise, accurate and
up-to-date."
At the date OF this report general fund
warrants TO the amount of $4,000 have
been called, but not yet presented for pay
ment, and this fact a%ccoun for the large
balance on hand in that und
ounty treasurers of the state for theiI
prompt response to my recent call for state
funds.