East Oregonian : E.O. (Pendleton, OR) 1888-current, 1905-01-04

The state land board in its report
to the legislature gives the following
resume of the condition of the state
school tcupds:
The rerort sets forth the amount
of moneys received and receipted for,
as well as the funds to which they
were credited, the amount of interest
bearing funds in this department,
number of acres of land sold, total
number of conveyances. aggregate
amount of loans approved and reject
ed, school district bonds purchased by
the board, aggregate value of mort
cages discharged and assigned, num-
Der of acres of land embraced in GER
tificates of sale cancelled, total
amount of moneys repaid on school,
indemnity school and swamp lands
to which the title of the state has
failed, and a list of the warrants
drawn by order of the board and for
what purposes drawn.
| There is also included list of the
farms bought under foreclosure pro-
oeedings which have been sold during
the past two years and list of those
remaining on hand.
At the date of the last report of
the board there were so of these
farms on hand. Eight have since
been acquired by mortgage foreclos-
ure or cancellation of certificates,
making total of IS; of these. As
have been disposed of and parts of
/ four others, leaving only 40 on hand,
comprising 7,1573O acres, represent
! ing a cost to the state of $52,97S.25
principal and total interest to date
of foreclosure, and other costs, of
$74,557.65.
The value of these places is esti-
mated by the state land agent, who
has personally inspected a greater
part of them, at not to exceed $685.
900, they being the poorest of all the
tracts acquired by the state.
The sale of lands during the period
covered by this report has amounted
to 39,S36.S3 acres, while the amount
received as principal on these sales
and on tracts heretofore sold under
certificate of sale, aggregates $685.
964.5S.
BY referring to the state treasurer's
report it will be seen that on October
| /. 1902, the outstanding loans from
the common school fund amounted to
s2,423, ,014.S7. Loans from the COM
mon school fund have been completed
amounting to $1,617,2O3, of which
S191,333.97 were renewals of old
mortgages. The loans from this fund
paid during the period covered by this
report amount to $797,437.97, of
which $191,333.97 were paid by re-
newals. Loans foreclosed from this
fund amount to $3.50.
The outstanding loans from this
fund at this date amount to $3,2S4,-
229.9O, so that the net increase
amounts to SS11,215.O3. The large
surplus of common school fund prin-
cipal on hand at the date of the last
report of the state treasurer has been
materially reduced by the purchase
of school district bonds and the large
number of farm loans approved, the
amount of this fund now in the hands
of the state treasurer being $780,
361.24.
The state treasurer's report shows
that on October 1, 1902, the outstand-
ing loans from the Agricultural col
lege fund principal amounted to
s1O9,OS2.25, since which time loans
have been completed from this fund
amounting to $7S,630, of which $10,-
800 were renewals of old mortgages
The loans from this fund paid during
the period covered by this report
amount to $45,S14.40, of which $1O,-
800 were paid by renewals.
The outstanding loans from this
fund at this date amount to SAL
1885, so that the net increase
amounts to $32,815.6O. The amount
of this fund now in the hands of the
. state treasurer is 15,3S2.45.
The state treasurer's report shows
; that on October l, 1902, the out
) standing loans from the universit.
= fund principal amounted to $83,S3'
since which time loans have beer
completed from this fund amounting
; to S33,050, of which $520517 wer'
renewals of old mortgages. The loan
: from this fund paid during the perio'
covered by this report amount t
$26,397.77, of which $5201.17 wer
paid by renewals. The outstandini
d loans from this fund at this dat
amount to $9O,4S7.23, so that the ne
a increase amounts to $6652.23. TIL
e amount of this fund now in tn
: hands of the state treasurer Is IS,
e 975.28.