American Falls press. [volume] (American Falls, Idaho) 1907-1937, 1914-10-29
STATE LAND DEPARTMENT
STATES BIGGEST INSTITUTION.
Has Ten Million Dollars in Loans and
Collects $1,000 q Day-Business is
Rapidly Increasing.

The state land department of Idaho
is the largest business concern In the
state. 1t now has bonds, mortgages and
contracts and leases ~aggregating in
the neighborhood of $4,000, 900 which
are held in trust for the people and
upon which there is collected in in.
terest and rentals more than $500, 900.
This vast sum goes to the upp
\ of schools and state institutions. When
the state disposes Of the land and tim
Der it still owns, valued at cver $780,
000, 900 it will have an annual income
from its permanent endowment fund
of over $1,000, 900. This will go a long
way in supporting the common schools
and the various state institutions en-
titled to aid from this source.
The business of the state lane de-
partment has been growing by leaps
and bounds during the past few years
and will continue to grow in the flu
ture even more rapidly than the past.
and will continue to be the largest bus
mess in the state and will ultimately
have a permanent working capital of
$40, 1000 900 to $50, 000, 900.
The loans made by the department
from the beginning nave recently been
carefully checked, and 1t was found
that few of them had been foreclosed
TO secure payment, and that the state
had profited about $40, 200 by the sale
of the lands it had been forced TO
repossess. In no instance did such
land bring less han the amount due
the state. plus ali expenses of foreclos-
ure.
An examination of the work of this
department for the past eight years
shows that it has increased an average
Of 420 per cent, not counting the Carey
act work, which calls for the time of
TWO clerks. Notwithstanding tho fact
tLat the business is five times what
II was eight years ago the only in
crease in the administrative force has
been one assistant bookkeeper. one re-
cording clerk and one additional. |
photographer. During the past four
years there has been no increase in
tn" work force though the business
has doubled twice in that time, put on
the contrary the Carey act business
which was mad a separate tepart-
inehr under the Hawley adminislra-
tor, has been restored 70 he land de-
partpent with a saving Of several
thousand dollars per wear.
In this department is handled the
work of selecting, appraising, SELL
ing and leasing the mora than
three millions of acres of land ac-
quired from the government. Here is
handled the entire financial ransac
tons growing out of the aconirement
of these lands. AS before stated Idaho
now has a fund of ten millions of dol
lars. This is represented by about ten
thousand distinct pieces of security
held in the vaults and upon which 1t
is the business of the LAND department
to collect the interest semi-annually
on bonds and mortgages and annually
on contracts and the rental on leases.
During the past year and nine months
there has been collected in rentals, in
terest and principal $2,179.7 84, or more
than $4,000 cash for every working
day. This money is deposited with the
state treasurer every night and his re-
ceipt taken. In order to keep a COM
plete check or the funds, deposit
slips are made out in triplicate, one
given to the treasurer, one to the
auditor and one retained in the Office
OF the land department, and once each
month the books are balanced between
the three Offices.