Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1907-01-16

|departmsnt FOR the same psr.od .noulptsd
have, been collected from inslra acotn@
panies, on account Of examinations, s., i
S21.41. A portion Of these charges con-
sers J, q 81 the Ss r ssna y ,aa
from the state: This per diem, az pro-
vided BY the act OF the legislature have
mentioned, goes to- the state. and amount
sum Of s., o4o R The total net re4enue Of
the state from fees and, per. diem earned
by the department during the year 1906,
nP to and including December, was $50; :
which this year amounted to $326, o19.e1. >
BANKS AND BANKING. 81,
According to the report Of the public
greatest volume Of growth Of any such
period in the states history.
The number of state banks in opera
ton increased from 1926 to 427, net gain
gregate capital stock. surplus and IN
o. to sis, 414, 24s. Is. The. gross deposits
Of ps sum cent of Se ta
sources show a net increase Of 38 per
cent. During this two-year period, there
has been no state bank failure, and only
in Reorganization and the strengthen
ing, Of the bank without loss to the de;
positors or other creditors. The total
banking resources of Minnesota in July,
1906, including state and national banks,
saving banks and trust companies, but not
inaccluding private banks, amounted to
1886, 400, 032.s3. The total deposit increase
In Minnesota's financial institutions, not
including private banks and building and
loan associations, is approximately sixty
millions OF dollars, or 20 per cent: this be.
ing without doubt the greatest deposit
any equal period In the states financial
history. The examination Of banks sub
ject to inspection by the public examiner
has developed, the fact that the demand
becoming limited in certain localities. I'm
der favorable financial conditions, such as
the state ts enjoying at the present time,
the banks have a considerable amount of
surplus funds. Under our present bank
ing laws state bank is not permitted to
make a. loan In excess Of Is per cent OF
gage farm loans have proven to be a high
ly satisfactory class Of investments, and
probably no better or safe class Of loans
can be made by banks operating in farm
would concur with the recommendation
Of the public examiner that our banking
laws be so amended as to permit of the
n maKng hrsf loans on
equal to Is per cent OF the capital stock
and surplus of the bank, all such loans
to be limited to and not exceed so per
cent of the cash value thereof: provided
that no bank shall invest in that class
Of loans in the aggregate more than so
per cent of its deposits,
PERMANENT SCHOOL FUND.
I desire to call your attention to one
peculiarly in the law relating to the in
yestment Of our permanent school funds.
The law now provides that loans to
school districts for the erection or school
buildings shall be at 2 rate Of 4 per cent
per annum, and at the same time pro
the construction Of ditcnes for drainage
at per cent per annum. It is not fair
that the institutions for which this fund
ton. 1t is hardly fair to provide a high
er rate Of investment for the schools Of
the state than for other purposes. We
should not discriminate against the edu-
and either the rate OF interest in one case
should be raised, or in the other lowered
STATE UNIVERSITY.
No one institution within our state is
Of so much Importance as our state uni
versity. Its growth in the past has been
couragement which should come to it
from the legislature its future possibili-
ties are unlimited. Requests for financial
s not as ses d9r6 e oer pe91
and are submitted to you with the sug-
gestion that they receive careful con-
sheraton: It is a recognized fact that
somewhat by reason of financial policies
which have hitherto made it impossible
to pay adequate salaries by which men of
recognized ability could be employed and
retained in the institution. and from time
to time we suffer the loss of some of our
best teachers by reason of the inability
to properly and adequately compensate
pay reasonable compensation for this
class of service, and to provide means by
which we can compete with any educa-
tional institution in the country in bidding
dow our university.
!. Since the last session of the legislature
the state university has fallen heir to a
large sum Of money known as the Elliott
pital in conjunction with the medical
school. This bequest has not yet been
secured because Its acceptance would in
gents decided that this could p not prope a
be done without legislative sanction and
approval, and the acceptance would neces-
sarily be conditioned upon the legislature
ance Of the proposed hospital. Your at
tention will be officially called to this
matter later, It is but right that you
should know that the bequest, while urged
available for the use Of erecting a me-
mortal building Of some other character.
lnasmuch as it Involves large sum Of
money which can be used to splendid
advantage: at the university, I trust that
the question will receive from you that
consideration to which It IS entitled.
LOGS AND LUMBER.
am pleased to be able to convey to
the legislature the information that during
the past biennial period all settlements by
the timber board Of the state for timber
trespass upon public lands have been in
strict accordance with the law Irregular
settlements OF preceding periods have
of cases were placed in the hands Of the
attorney general with, strict instructions
to begin immediate and continuous prose-
cution Of the cases with a view to the
state is entitled under the law. The at
torney. general, in his prosecution of these
cases, has secured from the supreme court
an opinion sustaining the validity Of the
quires no amendment So far as it relates
to punishment Of offenders under the law.
It mas. however, some features which
should be changed. The timber board
1ty. In settling controversies and making
adjustments by which the necessity Of
some cb1 law suits Sha'; might be dispensed with
that aeeton OF the net be MADE de-
re;scale Of state timber: Under the pr pres
ent statute provision is made for a re-
SCALE upon demand by the state au-
serve notice upon the surveyor general,
giving a description Of the tract upon
which re-scale is demanded. The sur
yeyor general thereupon appoints one Of
his deputies to act in concert with state
estimator, appointed by the auditor for this
purpose, the two to make a re-scale of the
timber embraced in the permit, and make
a report Of the same for record with the
auditor. It Is provided that in case both
the deputy and the estimator agree upon
the scale, the same shall be final and
binding upon the state and the purchaser:
and If it shall appear by the state re-
scale that the first scale was practically
correct, the state shall pay the surveyor
general the sum Of IS for each day spent
addition to all necessary expenses. in