Evening capital news. (Boise, Idaho) 1901-1927, 1913-01-12


solving itself into a huge banking in
stitution, according to figures contained
in the eleventh biennial report Of tn
department issued under the direction
of N. Jenness the register.
A comparison of this report with thst
of preceding periods of like duration
shows a remarkable advance and in
crease Of the business of the depar.
ment. The resources of the department,
including deferred payments on lard
contracts and timber contracts, invest
1nents in bonds and farm loans, loans
pending and cash on hand total 1881.
15T.9S. The total receipts into mainte-
nance funds Of various Institutions up
to the present time are Sl,l45,g15.10, in
Guiding $479,1 1898 from the rental Of
lands. and $685., 7S5.12 from interest ri
deferred payments OH state land con-
tracts.
In 1908 and 1904 the total cash re-
ceipts We're s462,9s7, and during tile
past two years s2,3S721d, or nearly five
times greater than eight Years ago
Farm loans made during the years
1904 aggregate s2a0.245. and during
1911-12 s1.i46,527. or, in round num-
bers, four times the amount loaned IN
the former period In fact the loans
made during the past two years
amounted to more than all previous
loans made during the history of the
state.
Sale Of Endowment Lands.
From the sale of its endowment lands
the state has alread, received iii cash
ano contracts about $s.o00,000. OF this
vast sum. S3,714,S4S are in contracts
drawing per cent interest $2.341.Si4
are invested in school bonds drawing
) or 6 yer cent interest and tile re-
mander in farm loans in force or cash
on hand to be used for loans granted,
and not yet completed Farm loans
draws interest at and I per cent.
From this it viii lie seen that the
annual income from leases and in
terest on deferred payments on land
contracts and investments amounts .oI
about 100000 which goes to the SUD
FORT of schools ANA state institutions
When the more thar 100000 Of acres
of land which the state still owns are
sold. the endowment funds should o%
in the neignborhood of $50,000.0 600, ald
the income from such permanent fund
will in large measure relieve the tax
payers of the burden of the support of
schools and state institutions,
Total Acreage Leased.
The amount To be collected by the
department III annual payments on 81
per cent interest as represented by
sale certificates is $3,714,S4S.01. Tie
total acreage now leased is 1.1SO o6917.
and the rental thereon is s195, 1905.
The leases made during the past two
years cover an acreage Of 34S, 253S2,
A
total of S3,777.57 acres of land we-e
sold during 1911 and 1912. at price of
sf,313, 103.2S During that period the
sum of s47a,S4s WAS expended in the
purchase of school district and state
bonds. The farm loans total $1,146, |
527.5s.
Beginning Jan. /, Of last year the
land board increased the rate of in
terest on farm loans from 6 to per
cent, and on school and state bonds |
from to 6 per cent During 1911 and
1912 there was more money loaned by
the state to the farmers secured by |
first real estate mortgages. than in |
all the history Of the state.
1t has been the custom heretofore IL
invest large sums from endowment
funds in purchase of general fund state
warrants through the state treasurer, |
but during the administration just past
not dollar was so invested The |
money was loaned to citizens of the
state. and invested in school bonds in
stead.
The redemption of over 100000 in
general fund state warrants imme-
diately preceding the last biennial PEI
Rod very materially augmented tn |
cash receipts, which accounts for a