Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-12-20
INDEBTEDNESS
OF Is STATES
$37S,685,ll5
Real Estate Bonds Sold BY
North Dakota Amount to
Over So, 100000.
Soldiers Bonus and Road I'm
provements Increase Debts
of Other States.

Chicago, Dec. 2O.-(Ey the Associ-
ated Press. )-Soldiers' bonus and
highway Improvement account for
approximately e%ighty-nve por cent of
the s378,8 .l15.12 authorized indebt-
cdness Of thirteen middle west and
northwest states. according to reports
OF state ~reusurers from the various
states. or this amount. SlS1. 735,1l5
is represented In bonds or certificates
of indebtedness already issued.
Voters of Hin ois. Michigan, Mis-
souri,, Kansas, Minnesota. Wisconsin,
Iowa and Ohio have authorized the
payment Of S2O7. 70b. 900 to veterans OF
tho world war. Il portion of which al
ready has been distributed. Illinois.
Michigan and Missouri have provided
for q system OF good highways repre-
senting an expenditure OF S1l5,00O,-
900.
North Dakota, Nebraska, Indiana,
Kentucky and Oklahoma have no out
standing indebtedness for tho payment
OF a bonus or the Improvement Of
highways, although In some of these
states highway improvement funds are
obtained from the general revenue
fund by Legislative appropriations,
Incurred Sincx, War,
The reports reveal that the greater
part OF the Indebtedness has been in
Cured since the world war, The part
highways played In the prosecution OF
the war is attributed by some officials
to the Increased activity in road de-
vclopment.
Nebraska has no state indebtedness
but the bonded Obligation of the
ties is s73.76o,1s7. Indiana reports
outstanding stock certificates in the
amount Of s6.616.12, which were is
sued In l845-46 for canal develop
ment purposes. Though the eertifi-
Gates are believed lost, this mount Is
still carried on the books Us an obli-
CATION.
n. D.. Statistics.
Farmers in North Dakota figured
in that states indebtedness, the total
showing the sale of s3,670,O6O real es-
tate bonds, the money being dis
~tributed to residents in farm loans.
Tho Industrial Commission WAS en-
powered to sell a further issue Of $780,
900. 900 for this purpose by vote OF
the people June. last.
The indebtedness further shows a
100000 Bank Of North Dakota
capital stock bond issue together with
an Issue Of s1.575,00O mill and eleva-
tor bonds n s2O2, 900 outstanding,
which arc known MS "old bonds"
Illinois Tops lisl.
In authorized Indebtedness, Illinois
tops the list. with 33,O17;5OO, OF
which $50. 600, 900 is for highway i'm.
provement. $18.O01,GGO for waterways
S55, 900, 900 for soldiers bonus and
S17,500 OF internal improvement
bonds issued prior to 1850, which have
never been presented for payment
But $4,000. 900. represented in high
way Improvement. has been issued
The original issue for waterways pro,
vided for $4,000. 900. The bond
have not been issued. pending n de
cision on plans. and ID provided b,
law, the state treasurer has retired
$2,000,OO0, at the rate of one millior
annually, leaving at the present tim,
$4,000. 900 for this purpose,
The last five years has seen Mlchi
CAMS bonded indebtedness grow from
nothing to $81.650.0 900 Issued, with
total of $4,000, 900 authorized. I,
1917, tho first issue Of $4,000, 900
known as a war loan fund, was au
thorized. This money was Loaned
Michigan men attending officers train
Ing camps to buy their necessar,
equipment when they received thief
commission. If they were financial,
unable to do so. The states remain
Ing indebtedness IN represented b.
s6O.OO0.eO0 for highway improvement
Of which S28, $50, 900 in bonds hav
been sold and 100000, 900 soldiers
bonus bonds, which have been mai
keted.
The bonded Indebtedness of Mis-