Omaha daily bee., 1906-12-12
BIG FUND FOR THE SCHOOLS
Seven and a Ealf Millions Permanent
Funds in Hands Of the Treasurer.
MOST ALL STATE WARRANTS IN THIS FUND
A. v. ward OF Harrington slated for
Position of Secretary 90 Congress-
mnn-Eiect Boyd of Third
District.
lost ALL STATE WARRANTS IN THIS FUND
tI0rom a star Corresnondentl


OF Nebraska has S7,45S7ie57 OF trust funds
Invested in interest bearing securities. The
biennial report OF Auditor Searle shows the
funds 70 be invested as follows:
6ermanent school. 7S7 .243 80
Permanent university ..,.......... 10000 90
agricultural college endowment. 433,471 81
Normal endowment. n,q4 46
a. ASS 716 ~
The permanent school fund investment in
cludes d,SSi,&569 Of state general fund
warrants. The total amount Of these four
funds invested in general fund state war
rants Is 81, 76i.Sl765. As the total outstand-
ing Indebtedness Of the state consists Of
N,sl66n.B in the form of state warrants
II is shown that the state is the owner Of
e2 per cent Of It's debt Some of these
warrants will soon be purchased by the
state and It is estimated that all but 5 per
cent OF the outstanding warrants are held
by the state as an Investment" The
state Is thus placed in the attitude Of pay
ing interest TO itself on its own debt. The
only advantage gained by owning the out
standing warrants Is that the interest goes
20 the support Of the public schools, being
apportioned semi-annually to the various
counties and then to the school districts.
Ward to He Boyd's Secretary.
A. e. Ward, now in the Office OF the state
superintendent, occupying the position OF
vice president OF the teachers examining
committee, is to be Congressman-elect
Boyd's private secretary He resigned his
place during the campaign to act as Judge
Boyd's committee chairman. Mr.. Ward
may not take the secretaryship until spring
He may begin work about the first of the
year as bookkeeper in the office of Land
Commissioner H. NJ. Eaton.
Lumber Hearing Adjourned.
Judge A. NJ. Post adjourned the hearing
in the suit Of the state against the Lumber
Dealers association until February Is. In
the meantime dispositions of witnesses
living in other states. including wholesale
dealers. will be taken At the hearing in
February It is intended to complete the
testimony and close the case. The hearing
has thus far not been marked by any
sensational testimony but It Is intimated
that the lid may be lifted little when the
state calls It's witnesses. Testimony deal
ing with the alleged conspiracy in regard
to prices OF lumber and division Of terri
tory by dealers has not yet been introduced.
Secretary Asks for New Law.
In his biennial report Secretary OF State
Galusha recommends that cash funds Of
the various state institutions be turned
into the state treasury; that change be
made IN the law to permit the state to
purchase supplies in bulk for all the insti-
buttons instead Of buying separately for
each institution; that the state insure it's
outbuildings at state institutions, and that
the state be permitted to buy $500 worth
of supplies for the legislature instead OF
being restricted to the purchase of 81, 200
in advance of the meeting of the legisla-
ture. In regard to the cash fund of lnsti-
tutions he says
would call the attention of the legisla-
ture to the enactment of a law compelling
the superlntendents or the several instltu-
ton that come into their hands during
their term OF Office with the state treas