The Forrest City times., 1914-05-29
School Closing at Palestine

The Palestine Special School Dis trict, made up of former rural dist rlcts, Nos F. T., 90 and g. closed it hrst school term successfully on las Friday with appropriate exercises.
 Fifteen students, eight girls anC seven boys, finished the high-schoo work at Palestine, and the splendid progress made has been highly satis factory in every respect.
 The following report on the fnan cial affairs of the school since the or ganization of the district is submitted herewith and will be found of inter. est to the patrons of the school: Mir. J. H. Stevens. Palestine Special School Ro.rd. DEAR SIR Acting on your instruc- tions, !.have audited the account of the Palestine Special School Board with the southern Trust Co. of Little Rock. ArK., ana have to report in my opinion all recelpts and disbursements are prop- erly accounted for and supported with vouchers. Statement follows
 Resolution of Palestine Special School Board July l, 1913, authorizing bond issue of $7000. % to be retired S35O O0 on January l and $500 July l. each year. commencing January l, 1914. and running through July l, 1923.
 Resolution of Palestine Special School boaro December =, 1913, authorizing bond issue of S2O00.0 % to be retired $500 OO June l, each year, commencing ln l9Z4 and running through June l. 1927. Both bond issues are secured by school property in Palestine Special School District except that part of dis trict formerly known as No. 32. Both issues carry interest at per cent. Both issues of bonds were sold to Chicago Title X Trust Go of Chicago III. On the S7000.00 issue there were expenses of $500.00, which inc. uded an attorney fee of Sl50.00. On the S2OOO. % | issue there were expenses of S2OO CO., l Net realized on the two issues, S83oeoos, e. ACCOUNT WITH SOUTHERN TFy theJ 00
 LITTLE ROCK, ARID RUST CO.,, September 29. 1913, dfthe \. January 22, 1914, yosit s650O %
 Total ,.yelt -.eposit ~ 1900 % .Ae things r---- ---- $500 co kr' DISBURSED.
 Nov. 14, 1913, to Feb. II, 1914.
 J. A. Moore, contract for building ------------------ 7200 co Oct. 21, 1913, to Feb. g, 1914.
 R. P. Morrison, building ar
 chitect tect-------------------- $50 % Feb. II. 1914, w. J. McIlwain,
 openings for heaters ------- 20 % April 1, 1914, L. o. Draper,
 shades --------------- 95 30 April 4, 1914. Chas. Smith &
 Co.,. payment on account for
 heaters 2 60 April 1, 1914, A. H. Andrews &
 Co.,, payment on account for
 seats s------------------------ l93 60 April4, 1914, Webber. Costello
 & Co.,, blackboards ------- 51 40 April 4. 1914, Gunther X Saw
 yers, premium for fire in-
 surance 148 %
 Total -------------------- S8l30 90 Balance in Southern Trust Co.
 as May l9, 1914 4----------- l69 10
 ACCOUNTS PAYABLE. Chas. Smith X Co.,, Chicago,
 H., balance on heaters s------s POO co
 payable Sl00. % with warrant
 due January l, 1915, with in-
 terest 6 per cent for one year,
 and $l00 % with warrant due
 January l, l616, with interest
 per cent for two years.
 A. H. Andrews & Co.,, Chicago,
 H., balance on seats----- 193 60 Total 393 50
 Very truly yours, JAS. J. FRENCH.
 NOTE Balance $l93. 50 to Andrews, Chicago, payable with warrant due March l, 1915. interest per cent.