The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1909-01-28

At the meeting of the Real Estate as
sociation at the Commercial club yes
terday afternoon, a report was received
from the committee on capitol build
ing, In which the committee urged the
legislature to pass q bill permitting the
issuance of 100000 bonds; to refund
the present Indebtedness of the state so
that present sinking fund may be-
come available for capitol purposes, and
to memorabilia congress to donate to
the state 5000, 600 acres of the arid lands
of the state out of the 37,G0O,0O acres
still held by the government.
Later in the afternoon the board of
governors met and selected E. z. Col
born as chairman of the association
and ]. L. Perkes as secretary and treas
urer.
A special meeting of the association
will be held at the rooms of the cham
Der of commerce at O'Clock Saturday
night, when several matters of inpor-
lance will be discussed and perhaps
the question of prohibition will be given
consideration.
Report of Committee.
The report Of the committee on the
state capitol building was finally adopt
ed and viii be forwarded to the iegisla-
ture. The text of the report follows:
THE undersigned members of the Cap
itol Building committee appointed by the
Salt Lake Real Estate association. to in
vestigate the feasibility of the state of
Utah issuing 100000 in fifty-yeaF 3Sz per
cent bonds for the purpose of erecting a
suitable state capitol building, respectfully
petition your honorable body to. at this
session of the legisls ture, pass such laws
as viii set in motion the proper machinery
of the state TO the end that we may at
the earliest possible date erect suitable
capitol building on the beautiful site at
the head of State street, Salt Lake City,
adequate for the needs of our great and
growing state
I'VE would respectfully report our find
ings in relation to the present situation
as to the proposed capitol building to be
as follows:
*'First-We now have a capitol building
site of about twenty acres which has been
highly improved and cared for for years
past.
''Seeond-Under the constitution Of
Utah. article 4, section ], the provision
is made TO meet expenses includ-
ing the erection of public buildings .
and payment of territorial Indebtedness
assumed. the state may contract debts not
exceeding in the aggregate at any one
time the sum of 10000 over and above
the amount of the territorial indebtedness
assumed by the state and also:
1.-The state shall never (after the terri
toTial debt is paid contract any indebted
ness except 10 detend the state, etc.
we understand that the debt assumed,
referred to in the above quotation, was
$500 COO. This sum is still unpaid and is
covered by state bonds as follows:
Series No. 3, > per cent bonds, due July
. 1912. $780, series No. 4. per cent
bonds, due July 2 1916 500 900; series No.
5. 31k per cent bonds, due Sept. !. 1918,
$4,000: series No. s. 81 per cent bonds,
due July ], 1920. 300 eco.
'The state auditor informs US that there
is now $4,000 set aside toward redemp-
ton fund for series Nos. and 4 maturing
I'm 1912 and 1915
''Third-KVe find that under the en-
abling act of the state of Utah in section
{. the state was given 100 sections of land
to be selected in legal subdivisions for the
purpose of erecting public buildings at the
capitol of said state for legislative, execu-
tive and judicial Purposes. In relation to
this allotment of public snds. we find
THAI practically the whole $4,000 acres have
been sold at about S-50 per acre. And
Thomas {. Caliister. secretary of the
state board OF land commissioners, reports
that there has slready been collected from
this source and is now on hand. about 81,
700. and there is already on hand accumu-
lated interest on the fund about 81. 600.
During the next ten years all of this land
will be paid for, and the proceeds of the
Ia nd together with the interest thereon.
will at the end Of that time, amount to
about $4,000.