El Paso herald. (El Paso, Tex.) 1901-1931, 1911-12-08

/ purchased by sturdy farmers who are
] planting alfalfa fields truck gardens
/ and orchards. The beginning Of actual
J construction on the Elephant Butte
! project in the Mesilla valley has re-
J suited in a considerable volume OF
! sales in the Las Cruces district and
! rapid settlement of the whole valley
/ below the dam. immigration to the
! Deming district, to San Juan county
! COlfaX county and the irrigated sec
/ lions of other counties has been rapid
More favorable conditions have ex-
/ listed in the dry farming districts dur
] ing the past Season, and as result
/ a considerable number Of those who
( We're forced 10 leave their claims dur
I ing the severe droUth Of 1909-1O have
returned TO make final proof thereon
Territorial Finances.
From a financial standpoint the year
/ ended June 80. 1911. has been in every
/ way successful and prosperous for
I New Mexico. The condition Of the
territorial finances is thoroughly sat
isfactOry.
In the year 1903 the territorial rate
of taxation was Il. As mills; in 1910
the rate was reduced = IL mills, and
in 1911 the rate was further reduced
to 10 mills, making a reduction Of al
most 81 percent. within two years.
Property returns for taxation are
made on a basis not exceeding 20 per
cent. of actcuaI value. IF returns were
made on the basis Of full valuation
the tax rate would only amount to
tWO-tenths Of 1 percent
All territorial institutions, penal, edu-
catiOnal charitable and Others have
lived within their incomes, as fixed by
legislative acts, with the exception or
the New Mexico penitenhary. This
latter Institution shows small def
icit.
The territorial bonded debt has been
decreased, interest payments are
promptly met and the good credit Of
the territory has been maintained.
On June 1, 1910, as shown by the
statement following. there was to the
credit Of the various territorial funds,
s4S5,14914. During the year there was
collected from sources other than
taxation the sum of S36S,9s6.62; and
from taxation. 1858. 103-99; making
total of collections and receipts by the
treasurer of S1,017, 690.61; and total
to be accounted for by the treasurer
of $500, S39.75. There was expended
for all purposes the sum OF SSH
56463, leaving aggregate balances IN
the hands of the treasurer on June /,
1911, of S525,275.12-
Territorial Bonded Debt.
On June 1, 1910, the outstanding
bonds of the territory amounted to
S1,001, 500.
there were paid and retired, $4,000 pro-
visional Indebtedness bonds, $4,000
armory certificates, and $500 certi-
ficates of Indebtedness, leaving total
The territory is strictly upon cash
basis and has no debts or obligations
OF a floating character. The total
bonded indebtedness Of the territory
County and school Debt.
The aggregate county bonded in
debtedness amounts TO $500, 909-42,
which includes the Santa Fe and
Grant County railroad aid bonds, pro
vision for. the payment OF when Is
Of
The aggregate bonded Indebtedness
of school districts amounts to StOS'-
631.13.
There has been some. increase in
both county and school district bonded
indebtedness during the year, pracJlc-
ally all of which has been for improve
ment purposes.
Assessment of Property.
The total assessed valuation OF all
property in the territory SUBJECT 70
tax for the year 1910 reached lne sum
of S5S313,126.18; the returns Tor the
wear 1911 show the amount subject 10
tax TO be S6O,O4S,SSO.75, an increase
over 1910 of $1,735, 754-5l-
1t is estimated that the property re /
turns for taxation are made on basis
of One-fffth Of actual value, ana II
can be readily seen that II properly
was returned on a basis Of full value
the amount subject to tax would reach
something over $S0O,OOO,OOO.
The levy for all territorial purposes
for the present year has been fixed az I
10 mills and the average levy TOT al 4
county purposes throughout the terri
tory for the year is 22.26 mills making ,
a total of 1926 mills for the support OF !
territorial and county governments /.
This does not include special leVles I
for the support Of municipalities, city &
schools and the rural school districts, {
Territorial Institutions.
From a review of the financial /
transactions Of the boards or regents &
of the several territorial institutions,
and their present financial condition,
the conclusion is reached that the
funds of the territory expended IN the 4
of these Institutions nave
been used economically.
During the past year the couege OF
agriculture and mechanics arts has
sustained a loss by reason OF the de-
3truction of the old main building Dy
fire This building was valued al
about $4,000, and insurance was col
ected to the amount of Sl5,22LS5-
The property holdings OF the terri
tory have been increasing steadily
from year to year, and an inventory
aiken under date OF June 81, ISL
)ased on conservative valuations,
shows the amount Of these holdings
10 be S2.OO6, 640.5S, an increase over
asst year of $169,575.41.
The following is a detailed state
nent showing the value of holdings
IF the several territorial institutions:
I g-icU1t11raI college ..S27O, 4644S
1saf and dumb asylum 30,7OO.O0
3iind asv1un - $4,000
-1ga1a asvlum ........ 27l, 99615
1Tiners' hospital ...-.. 51,450.00
+,,+e - 237.5S449
Normal school. Silver City. 10S,0o0.00
Iew Mexico Normal univer-
sity .-...-.-- ..-..----. lV5,Ul3-oy
vey,T NTevico Denitentiarv. 17S.167.41
,cbooI Of mines .. $4,000
University Of New Mexico. llS,550-00
2eform school ...... 19.1SS.75
spanish American Normal
school ...----.----.---..- zt,5UO-OO
capitol building and extern
sion .--.--- o1v5VVu-uv
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