Jamestown weekly alert. [volume] (Jamestown, Stutsman County, D.T. [N.D.]) 1882-1925, 1920-05-13

.
Total OF all real property s5.627.45
Total l............. .$12O.351.4o
Appraisers oath. Feb. "a. 1920.
PETER JOHNSON.
J. H. MILLER,
w. A. SAUEREsSIG,
Appraisers.
Note how the mill is increasing in
value. In August, 1919, the bill was
bought for 100000 and machinery
and improvements added amounting
to $4.296.1S.
In February, 1920, the appraise-
ment showed the mill worth $3I.-
627.45, and no record Of additional
machinery or improvements.
Where does the additional $4,000
increase come from? No explana-
tions have been made.
The appraisement in February
showed wheat on hand valued al
$17,43s.25 and $4,000 charged up
to empty bags.
The items showing four on hand
at $26,792.75 and -four in storage
amounting to 1000, are peculiar.
Is the last item flour stored in sep
arate warehouse? This statement
looks as If it had been made for some
object not readily seen.
A list Of vouchers from the state
terminal elevator fund from June 80,
1919, to March g., 1920, and paid 10
officials, secretary, stenographers,
appraisers. superintendent and go
forth shows $l24.322.47, paid out IN
account Of the mill.
Taxes Not Included.
There are other expenses whlcn
should be charged up against the
profits of the business. Taxes in
1917 were $658.92. The taxes of
1918 were seo7.ss, but in 1919 the
mill, as state property, escaped tax
alton. II It had paid taxes on wax
nation Of 100000 which il placed on
the mill, at the tax rate Of that y,tssar.
the taxes Of SsS5.0s should have
been added to the expenses of the
mill, instead 81 going to show the
profits Of the enterprise.
In 1919 McHenry county assessors
assessed the mill at $4,000. II the
property is. assessed this year for a
tax at the same tax rate as 1919 the
mill should pay $3,s31.49. But it
will not be, and the mill will have no
taxes to add to the expense column
and to detract from the grand show
Of how state ownership is success
for the people.
z In April. 1920, -four made by a
small mill at Argusville in Cass
county sold in Bismarck for $7.75
per hundred pounds and flour from
the Drake mill for -$7.75. The Ar
gusvilie mill had to pay taxes, oper-
ating expenses and ship the -four 220
miles to Bismarck. while the Drake
-four was shipped 100 miles oy a
plant that paid no taxes and had part
Of it's overhead expenses paid by leg
islative appropriations.
Mortgage for Five Million.
On March 25, 1920, a mortgage
on the mill property in the sum o:
Ave million dollars, running to the
state treasurer. and given by the
state was fled with the register Of
deeds in McHenry county. The ap-
Iraisal thirty days before the date of
mortgage, on land, machinery and
equipment,was $35.627.45.
We are willing to leave It to the
to draw their own concln-
sions on proposition wherein prop
erty mortgaged Is worth less than the
Interest on the mortgage for six
d
The trust deed or mortgage pro-
vided for issnil.g bonds to mature az
follows. $1;600,ooo in twenl, years.
The remainder in Is years, all at s
per cent interest. The property stat.:-
ment showing mill and personal
was filed with the mortgage
showing the value Of $120.351.45,
but the mill and the machinery are
worth less than $4,000. But then
here are $4,000 worth Of empty
hour sacks. Sss /.
There IL many q hard working far.
mer or business man who would ike.
to ngune up his yearly profits IN the
lame way, and to be able to bond .
$4,000 property for, I'VE million dol
|ars Bnt nobody gets : chance to do
his except he politicians Of the Nom
partisan League who arc running the
government of North Dakota at the
present writing.
q Three days May sals at Wynss sls-
:ers Needle Shop, THURSDAY, Friday
md Saturday at reduced prices.
Gowns. combination suits. corset cow
~, neEligees. aprons. Knitted and
;oilet shawls,z sweaters. children and
nfant' dresses. hats ma corsets,.
aucy pilloy csntsr i. So