Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1908-11-26
MAY
Be EXPENDED
AUDITOR CARROLL ESTIMATES
POSSIBLE APPROPRIATIONS BY
THlRTY-THlRp ASSEMBLY.

lions much less appropriations than IN
former years, and on account of other
large expenditures of the state for
improvements, such as the soldiers
monuments and historical building, and (
the rebuilding of the institutions have
been completed, the coming Legislature
will find appropriations one of its
easy tasks.
Auditor CAROLS estimate of the or
binary expenditures of the state for |
the biennial period ending June so. |
1911. based upon the present general .
laws and the expenditures during the (
last fiscal period amounts to S6,291,-
0oo This does not include any special
or extraordinary appropriations which I
may be made by the Thirty third gen
eral assembly.
The estimated expenditures, together
with the estimated expenditures of the
present year, that is from July I, 1908,
to July /, 1908, namely. S4,24o,o0O,
makes the total estimated expenditures !
from July /, 1908. to July 1, 1911, to be
the probable available resources to
July l. 1911, namely, s12,o33,40o, we
find the probable available amount for
extraordinary appropriations by the
| Thirty-third general assemly to be in
round numbers $1,500,000," says the
auditor
ut should be borne in mind. how
| ever, that the receipts from taxes be-
tween July 1, 1911, and october l. 1911, |
" II be practically nothing and that
the expenditures of the state continue
| right along, making it necessary that
| 100000 or more remain In the treas
ury July l, 1911 to meet the running
G. penses Of the state between July and
October. This does not, however, take
| into account the fact that some of the
| appropriations made will likely remain
unexpended at the time referred to-
Permanent School Fund.
The permanent school fund Of the
state at the present time amounts to
81 77s,019.46, having increased during
tie biennial period just closed from
escheat estates and sales of school
land sS63.92. This fund is all in the
hands Of the officers of the various
counties by whom it is easily kept at
| interest at statutory rate. A new form
of report sent out one year ago has de-
veloped the fact that in the main this
fund Is being handled in a very salts
well kept up and mortgages are
promptly paid or renewed when due as
the law requires but in some ten or
twelve counties, says the auditor, this
reoort shows that this fund is being
badly neglected.; in some case mort
cages have been permitted to run as
high as twenty years past due with in
terest delinquent as high as ten
years."
Concerning accounts between the
state and the counties the auditor re-
ports that the new law has been a So
luton Of former troubles, land has had
the effect to reduce the delinquent
amounts due the state from over $780,
900 at the beginning of by first term to
, $4,000 undisputed and subject to PEN
atty on July 1, 1908. This amount was
5 due from one county and was delin-
2 quent on account of bank failure
| which had depleted the country treas
ury, but has since been paid in full
: with. penalty, leaving no undisputed
t account now delinquent. The strict
5 enforcement of this penalty added
about $1,000 to the general revenue of
( the state within the first year, since
which time the accounts have been
promptly paid before subject for PEN
alty County officials having now be-
come familiar with the provisions of
this law ] anticipate no further diff
culties in reference to these accounts
Financial Details.
:, Concerning the details of the finan
!, ces of the state, which are In supurb
= condition, Auditor Carol says:
:. :. 1.-The receipts from all sources paid
: into the general revenue of the state
for the biennial period ending June 80
1906. were $6,S92,93S, and the receipts
for the biennial period ending June 80
!, 1908, amount to s7,247,07S, which shows
an increase in receipts Of S354,140.
At the close Of the former period
:, after deductng all our outstanding
Y warrants there was a balance In the
: treasury Of S91182224. At the close oil
q the fiscal period ending June, 1908
g after like deduction was made, the
!, balance was 's437, 602.11, showing a de.
II crease of s474,22o.13.
p Statement No. 4 shows my estimate
a.
biennial period ending June 30, 1911, tt
h be s7605, 400, which Is based upon {
levy sufficient to produce S2250,00 pei
# year from taxation and such receipt!
from other sources as the past ant
VI future seem to justify. | believe thi!
estimate is conservative, but do no
}, think it would be safe to anticipate
more. Adding the above amount t.
8 the cash in the hands of the state treas
W urer, making no deductions for out
r standing warrants on the first day o
T. July, 1908. namely, $644,1S9, togethe
r. with the estimated receipts from Jul
I, 1908, to July |, 1909, namely So,
7S3,800, makes the total available re
sources of the state from July ], 1905
to July 1, 1911, s12,03S,400.
n There are five domestic and forty
" three domestic local associations nov
- reporting to this department. OF tn
r. five domestic associations at least fou
Of them are closing out business a
8 raoidly as circumstances will permi
at Since my last report eleven have gon
!, out of business"
n Concerning banks the auditor says:
During the biennial period endin
It, June 80, 1908, there have been fou
n failures of state and savings bank
with combined capital of $150,000 an
IS. deposits of 100000; the net loss viii
however. not exceed 20 to so per cen
he At the time of the last call, May l
ad 1903, there were 571 savings banks re
porting to this department, eel stat
re banks and 10 loan and trust companie
c. During the last biennial period, 81 saw
ings banks and % state banks hay
lg been organized. The banks and loa
and trust companies reporting to tn
in department possess a combined capt.
ge Of $2S,694,2 900, with deposits of S197
927 .3G3.S9, showing an increase of car
ital over that OF June 80, 1905, of 50
G94, 500, and an increase in deposits
H. $2S.317,5 57.13. AS result of the finar
n. cial disturbance of last fall there W;
at some shrinkage in the amount of d.