The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1912-09-26
REPORT ON STATE
SCHOOL LANDS
SINCE STATEHOOD Bus SlN E S S
HAS AGGREGATED NEARLY
EIGHTEEN MILLIONS.

Oklahoma City, Okla, Sept. 25.-
From statehood to Sept, l, of this
year the state school land depart
ment transacted business to the value
of 1892 520,44. The total expense Of
the department has been $504OO1.S7
or but 2Sl per cent of the income.
statement issued by the Commission
ers shows that the United States re-
served land for the state aggregat-
ing 3,12S,362 acres all situated in for
mer Oklahoma territory. In addition
to this $5,O00,U00 was donated by the
government in lieu Of public uands
in Indian Territory. The department
sold up to September /, 627,229 acers
for a total ow 1851 ,964.S2. All state
lands are subject to sale except those
segregated for tOwnsite and oil and
gas purposes. The S5,0OO,OOO and 9th
er permanent school funds nave been
loaned to farmers with first real es-
tate mortgage lien securities, five
year period, with interest at 3 per
cent. and invested in county bonds
and public warrants. A financial
statement OF the department for the
period covered is as follows:
Statement Of Receipts.
Receipts-All sources, rent, inter-
est, permanent fund and proceeds of
sale of land, $l7 ,9O2, ,52O.44.
Disbursements--To State and Coun-
ty Treasurers, s4,415,04f.09; returned
on account of excess payments, SILL
60235; farm loans, s3,670,1775o;
loaned on county bonds, $l,O94,5OO;
invested in public building warrants,
$290,0OO; notes on hand from sale Of
lands, S720S,42713; expenses, SELL
$40 Sc; balance cash on hand deposit
ed in Oklahoma banks drawing inter-
est at per cent, 1884, ,665.S0; to per-
manent fund from proceeds of sale Of
land, s106,753.95; total. $17,9O2, ,520.44.
Expenses - Leasing department
paid from receipts of office $271,349,-
Sc farm loan department, appropria
ton, s159,67S.50; sales department,
appropriation, s72,973.S1; total, $5O4,.
001 81.
The statement concludes:
Funds for Schools.
The Commissioners of the Land
Office for Statehood to Sept. /, 1912,
.appoftioned and paid to the common
schools of this state for the support
of the free schools the total sum of
s3,346,642 .442.
The total expense of the land Of
flee for the same period was s50i,-
001.S7. This amount not only includes
the expenses of the entire land office
proper, but the appraisement of the
3.12S,362 acres of state and school
lands and the improvements located
thereon by three disinterested ap-
praisers, and the re-appraisement of
certain lands and improvements for
sale purposes as provided by law and
the preparing and advertising for sale
of S53,734,95 acres of land and the
improvements situated thereon. It
will be understood that all lands pre-
pared, appraised and advertised for
sale have not been sold. The expenses
given also covers the entire cost of
the leasing, farm loan and sales di-
visions and the contest and protest
and oil and gas departments.
Income Will Increase.
In other words, to summarize the
of the state land office,
having to do as it does with the state
and school lands and funds belonging
to the state for the purpose of COM
mon schools and the higher educa-
tional institutions and the public
fund, it is estimated that
these lands and funds under the con-
troll and custody of the Commission
ers of the land office are reasonably
worth s5OOOO,OOO; that the income
from the interest and rentals received
each year is approximately $1,277,50O,
or present income of $4,000 for
each day of the year, which will in
crease each year as the land is sold,
and the money invested in farm loans
and state and county bonds.