Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1909-12-05
MIxUP in BOND issue
/. AGAIN TO THE. FRONT
REPORT OF STATE TREASURER
- y @ad#g'"'
SHOWS CONFUSION IN $780, r
900 ISSUE.
Matter Will Be Incorporated in a
Report NOW IN Tress In Order to
Have Permanent Record.

BiCkfOrd gives a detained statement
of the bonds issued under the act
of the legislature for the Irvine plant
at the penitsntiary. The legislature
authorized a bond issue in the sum
of $4,000, all of which issue is alc-
counted for with the exception of
bond No. 105, the first series, SAID
bond being in the sum of $1,000. No
one seems to know what has become
of the bond since no record shows to
who it was sold, or who now has it in
his possession.
While the legislature authorized an
issue of $4,000 with the understand
ing that SIS, 900 of this amount was to
pay off the Indebtedness on the Irvine
plant, it is asserted by those who
should be in a position to know, that
thus far no record can be found OF
this money actually having been ex-
pended for this purpose.
FROM Mr.. Bickford's report, it
would seem that another series or
bonds were issued in the sum of $751;
900, in denominations Of one thousand
dollars, each bearing 5 per cent inter-
est, and that instead Of there being
only bond issue of $4,000 it was
in reality in duplicate, aggregating
$420,0O0 instead of $4,000.
The following is a, portion of Mr..
Bickfordis report now in press, re-
lating to the bond of the Irvine plant
which will be of interest:
Irvine and Cordage Plant Bonds
The state legislature under chapter
No. 1888 Of the session laws of 1901,
authorized the president and secretary
of the penitentiary board to issue
bonds for $4,000 in denominations
of 81 900 each. These bonds were to
be payable one-half in ten years and
the other half in twenty years from
date Of this amount $4,000 was
negotiated, and in the course of its
investigation Of the penitentiary and
Irvine plant, the committee appointed
by the Eleventh legislative assembly
cited the fact that Of the above $780,
900, there was still missing $4,000
of the above bonds. Since the ad-
journment Of the legislature number
of the Irvine and cordage bonds
have been found while rearranging
the files in the treasurer's vault.
The $4,000 worth Of bonds nego-
tiated was bought by the common
school fund of the state, and consists
of the following bonds:
First Series.
Bonds No. to 60 and Bonds No.
II to 1O4, all inclusive. Dated May
/, 1901, and due May l, 1911. Amount
ing to $4,000.
Second Series.
Bonds No. / to Is, inclusive. Dated
May /, 1901 and due May l., 1921.
Amounting to $4,000.
The above are four per cent bonds:
To complete the above series there
is in the hands of the state treasurer,
bonds No. 81 to 70 of first series,
and No. Is to los of second series.
Thus it is seen there is still unac-
counted for bond No. 105 of the first
series, said bond being for $1,000.
In addition to the above issue, a
portion of which was negotiated, there
is also in the hands Of the treasurer,
the following bonds:
First Series.
Bonds No. sc to. 1O5. Dated July /,
1901, and due July /, 1911.
Bonds No. sc to 1O5, dated July l, !
1909, and due July 1, 1901.
Second Series.
Bonds No. to los. Dated July /, |
1901, and due July 1, 1911.
These bonds, bearing five per cent |
interest, aggregating $145,000, are
payable to bearer and are executed in
full by Edward Braddock and N F. |,
Boucher as president and secretary, |
respectively, of the penitentiary |
board
1t will be seen from the data CIV
en- above, that the second series No.
to 1O5, is complete, while there
must have been two issues of the
first series inasmuch as we have two
fractional sets Of this series numbered
from sc to los. 1t is only a natural !
deduction that there must be some
where in existance, or was at one
time, bonds to complete the above is
sue.
If the same is true, there is un-
accounted for at the present time,
bond No. 105 Of the first series, four
per cent bonds, and two fractional
sets of the first series, five per cent
bonds, numbered / to IS each, an ag-
-