Evening Republican, Volume 18, Number 154, Rensselaer, Jasper County, 1 July 1914 — STATE WIPES OUT TEMPORARY DEBT [ARTICLE]

STATE WIPES OUT TEMPORARY DEBT

County Settlements Enable Pay ment of 1750,000 Loan—lncreased Tax Levy Made Impossible. With payments made Monday and additional payments to Jbe made today, the state board of finance, composed of the governor, auditor of state and the secretary of state, will have expended an aggregate of $750,000 in wiping Out temporary loans made last January and March and in canceling foreign state bonds. The amounts paid Monday aggregated $3&0,000, and were as follows: To Bond & Goodwin, Chicago, $200,000,, to pay temporary loan on March 17 last and interest at a rate of 3% per cent To Winslow, Lanier & Co., state fiscal agents of New York, the sum of SBO,OOO, to cancel’ foreign state bonds held by Moses Taylor Pyne, of New York, and interest at 3% percent /■ To Harris Trust and Savings Company, $70,000 to cancel foreign state bonds, and interest at 3% per cent ■ / • '

The $400,000 to be paid today will be distributed among five banks of Indianapolis. It represents a temporary loan made by the state on Jan. 2, last This money has drawn interest at a rate of 5 per cent, the loan having been made at a time when the money market was “tight”

With the payments made Monday, the state’s foreign indebtedness was reduced to $130,000 and members of the state -board of finance say that this sum also will be paid next January, which will be in advance of the time it is due. After the foreign bonds are canceled, the only bonded indebtedness the state will have will be tor domestic state bonds which with the exception of Vincennes University bonds due in 1917, are not reducible The interest on the $750,000 being paid by the board aggregates $13b298J>7. ■

When the office of the auditor of state was closed Monday evening seventy-six of the ninety-two county treasurers had made their semiannual settlements with the state. The remaining sixteen treasurers will make their settlements today, Which is the last day for .making the payments. -

A net increase of 8% cents in the state tax -levy, made by the 1913 General Assembly, has increased the state revenues sufficiently to relieve the state Tfrom further financial embarrassment, members of the board of finance assert. With the readjustment of the sftatie tax levy, it is said that it sopn will become unnecessary for the state to ask the county treasurers to make payments in advance of the time for the semi-annual settlements. Advance payments have been required from time to time for several years, though they became more frequent in recent years because of increased state expenses due largely to the maintenance of new state institutions and to the increased cost of operating.

Corn is today worth 63 cents, oats 33 cents and wheat is not yet quoted but indications are that the market will open next week and that the price for new wheat will be about 70 cents.

Jesse Gates, father of Rolla Gates, whose wife tried to suicide by taking carbolic acid, objects to the mention made of his name in connection with the troubles Which led up to the effort Mrs. Gates made to end her life. He says that he was notwt his son’s house when she took the poison and had not been there at all that day. He also says that he has never given his daughter-in-law cause to feel ill toward him, but that he has purchased groceries for them and been everything that a kindly disposed father-in-law should be. He says that on the day the rash act was committed Mrs.. Gates had struck at her husband with a knife and acted very unbecoming. Others, however, question Gates’ friendly attitude toward his daughter-in-law and say that he has been abusive and overbearing to her and that on last Sunday he precipitated a row at the home of his son. Jesse became quite angry at the editor of The Republican because he had been given public criticism. We 'have no Intention at all of injuring his feelings, but if the statements made by the poor woman and by a number of others are true then Jesse Gates has been lightly dealt with and it will behoove him to behave himself in the future Mm Gates is getting along very well, it to reported, and evidently did not swallow any of the pofeon.

Every person needing glasses can now afford to have their eyes examined by Meat methods end the gtaaes made in our grinding departanent Don't put it off.—Dr. AG. Cott, Optometrist and Manutaetaring Optician.