The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1924-05-05
S'!CH00LSLANDS
HOLDINGS
LARGE IN n \. D.
Total Over $4,000 Report of
The: State Land Commits
SiOner Reveals
COLLECTIONS
MADE

The huge investment of the state
in school lands is told in a state
ment issued by c. R. Kositzky, land
commissioner, reviewing the situation
in that department. He says:
"The State Land Department under
the supervision of the Board of Uni
versity and School Lands has control
of all State and School lands, also all
funds derived from the sale of such
lands. The present estimated value
of the unsold lands together with the
amount" invested in farm loans and
bonds, also the amount due on lands
sold on contract represents an in
vestment of about $66,875, 0O0. 90,
which ismade up as follows:
100000 acres unsold
lands ....... .$37 500, 100000
Due on lands sold on
contract .......... $500, 100000
Invested in bonds, farm
loans, etc. .......e 1875, 0000 90
Total ....w.. 1866, 1916, 900 90
The total amount of school bonds
on file in the Land Department on
April l, 1922 amounted to $2,61O,3OO.-
600 of which 1888, 10000 had been
purchased during the years 1920 and
1921 but on account of no available
funds the same could not be paid.
Several school districts have since
withdrawn their bonds and sold them
elsewhere which somewhat reduced
the above amount. The amount in
vested in farm loans and bonds from
April I, 1922 to April l, 1924 amount
ed to $2,657, OS8.0O, the collections Of
permanent funds, interest and fees
during the past two years are as fol-
lows:
COLLECTIONS from April l, 1922 to
April /, 1924.
Permanent Funds $685. 1929
Interest and Income. :. 1868, 67l 80
Fees ...'............ 2O,9l9.70
Total ............... SIS, 772,743.58
Eve never realized the condition
of the loans and lands contracts in
the Land Department until we inves-
tigated the records. Interest ray-
ments had not been made on loans
since the loans were made Interest on
land contracts had not been paid since
the land was sold. Many school dis
tricts failed to pay interest and prin-
cipal on bonds past due. Taxes re-
manned unpaid on mortgaged and
sold lands since the year 1916. Thou
sands of acres of school lands were
being used and no rental was paid by
thu IF thu 1orl Tho ~
University and School Lands without
Tear, or favor gave me orders what
to do in compliance with the ptovi-
sions Of law and through their ef-
forts and my efforts St, 772, 743. 90 was
collected from April I, 1922 to April
]. 1924 which il considered q good
showing considering the years this
was collected in.
During the spring Of 1923 the
Board ordered me to make an -inves-
tigation in regard to the conditions
among those who were delinquent in
their interest payments which did
and filed my report on November 3,
1923.
During my investigation II COL
lected and caused to be collected
about $7,50O.00 rentals from persons
who were using school lands without
pay. Some of the lands had not been
rented for years and frem reports
had never been rented before. These
lands are now being rented and ~
doubt will be rented in The future
In my opinion the Land Department
with an investment of $66,876,.
| 10000 is a very important
office probably more SO thar
| many people may think. It Shout,
be run on businesslike basis TIL
same as - private corporation will
the same capital invested runs it