Montpelier examiner. [volume] (Montpelier, Idaho) 1895-1937, 1915-12-10
STATE LAND BOARD
HANDLES vASTS SUMS
Heber Q. Hale Gives Outline Of the Operations Of
State Land Department Securities Aggre-
gate Ten Million Dollars.

Below we give synopsis of
statement issued by Heber @. Hale
of the state land department, from
which the reader may learn some
thing of the magnitude of the oper-
ations of that department.
The state land department has
grown to be the greatest financial
institution In Idaho. The equity it
holds in interest bearing land con-
tracts, it's investment in school dis
trict and state bonds and its fara
mortgages aggregate the enormous
total of approximately ten million
dollars. The basis of these funds
rests entirely upon the land grants
by the government to the state for
general educational, penal and char
liable institutions. which lands ag-
gregate about 8. .SI8, 900 acres. The
wisdom of the constitutional fathers
of this state was shown in safeguard
ing these land grants with consti-
tutional provision which was snbse-
quently enacted into law by the
state legislature under which none
of the lands could be sold for less
than $40 an acre.
Since 1890 when Idaho was admit
ted to statehood 422, ,4O6 acres of
land from these several grants to
the state have been sold on time con-
tracts bearing 6 per cent interest.
The sales are held at public auction
and lands sold to the highest bidder.
The minimum bid must be the ap-
praised valuation Of the lands, which
in no case can be less than $40 per
acre. The moneys 30 received from
sale of lands and timber are invested
in first mortgages on farn property
and in school district and state bonds
all bearing 6 per cent interest.
The unsold lands belonging to the
state are leased for agricultural and
grazing purposes for term of five
years or less, subject TO renewal.
The average rental for grazing pur-
poses is 10 cents and for agricultural
purposes 25 cents an acre per annum.
The moneys received from deferred
payments on land contracts from rem
tai of lands and from interest on
farm mortgages and bonds is pre-
rated to the various institutions oi
the state for maintenance purposes
to which the lands respectively be
long, only the principal as above in
dicated is invested and this principa
constitutes 3 permanent and irredue'
ible endowment fund in favor Of tn,
respective educational, penal ant
charitable institutions of the state
Since Idaho commenced leasing it
lands for agricultural and grazini
purposes to the farmers and stock
growers Of the state. 2, ,102, ,643 acre
have been thus leased and conse
quently brought into q revenue pre-
ducing condition for the benefit Q
the various institutions. The tots
rental received up to December
1916, amounts to sS17. .642.0s. Th
acreage covered by leases now !
force aggregates !. .049. .O72.52 acre
The acreage leased by the state Ian
department for the year 1915. is 354
197 acres, which has produced pa.
ment Of rental in the amount Of S41
924 for the year.
The total acreage sold by the sta
from these land grants up to Decor
Der ], 1915, aggregates 422. Al
acres. During the current year Is
195 acres have been sold for S2S1
O19.87, on which e64. .159 was pa
ID cash on day of sale. OF its va
timber holdings. the state has 50
I'D to date 1861 acres for
regate of 81. AIT 800.
The buying Of state land has
pme al the more attractive 10 hon
ekers since the passage by the l.
islature Of an act providing !
sale Of these lands on 3 time p
lI contract extending over
ars. which requires one-fortieth
principal to be paid the first
u year. with interest in adyal
per cent on the deferred p
ID. This law also provides d
certificates issued at any Il
70 this enactment may be !