Evening Republican, Volume 19, Number 45, Rensselaer, Jasper County, 22 February 1915 — Indiana Borrows $400,000 to Reimburse Farmers of State. [ARTICLE]

Indiana Borrows $400,000 to Reimburse Farmers of State.

The state boad of finance of Indiana borrowed $400,000 Friday. It was a short-time loan and the money will be due to the loaners on June 30, when the semi-annual settlemet of taxes is made with the state treasurer. The interest paid is 2 Yz per cent for the 4 months and 9 days, which is about 7 per cent per annum. The (Merchants National Bank and the Indiana Trust Co. of Indianapolis fftmished the money. The state must pay out something like SIOO,OOO to reimburse stock dealers whose cattle and other stock was killed on account of the foot and mouth disease. Another item of expenditure at this time is for SBO,OOO worth of seisel, the raw material used at the state prison for the. manufacture of binder twine. There has been a steadily increased cost of maintenance of the state penal and benevolent institutions, which also takes part of the money. It is not stated whether his loan will be sufficient to tide over until July Ist or not. Judging by past probably not.