The Wilburton News. (Wilburton, Okla.), Vol. 12, No. 44, Ed. 1 Friday, July 15, 1910 Page: 4 of 8
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HASKELLAD
BOND
To the People' of Oklahoma
Tart of the process of build-
ing our new state is the necessary
creation of public institutions
Insane
Vhen the state government fir:(i
began we had no state insane
as lums and our insane patients
wire being kept at a private in-
stiution in Oklahoma Territory
an I another private institution in
St Louis Missouri at contract
ru 's which afford a large profit
to the private institution and con-
sequently an unnecessary expense
to our taxpayers To provide
state care at economic rates it
was necessary to build insane
asylums Oklahoma Territory had
ah c-udy located one asylum at
Ft Supply in the extreme west
on 1 of tie-state and the legisla-
ture coutiuud the enlargement of
tint institution and also located
on additional insane asylum at
Vinita in the east end of the sttc
- Prisoners
The prisoners of Oklahoma Ter-
ri ory were being kept under con-
tract at the Kansas State Fenitcii-tio'-y
and of Indian Territory at
va 'ious Federal prisons in other
sti tes Kansas was keeping our
pi isoners because there was a
pr ifit in the price they charged
Oklahoma for doing so In order
to reduce the expense of govern-
ment and provide necessary mea'
for detaining and earing for pris-
oners it was necessary to build
a stato penitentiary at home and
this penitentiary is now nearly
completed and both the asylum
and the penitentiary being com-
pleted will largely reduce the cos
of maintaining these two features
oi state government as no priv-
ate institution or institutions of
other states would care for our
patients or prisoners except at a
good profit Likewise the east
half of the state was wholly with-
out state educational institutions
'lid the agricultural and liioi-haii-ial
education of the state repre-
fcnting the chief source of wealth
and industry of Oklahoma was
entitled to larger and better fa-
cilities and we believe that the
legislature of Oklahoma acti d
Wisely in meeting these economic
and educational necessities
Examining the journals of the
III use and Senate it w ill be fouu I
th it the creation of these institu-
ti( us were not partisan measures
but that practically every one ol
th m was approved by the mem-
bers of both political parties so
th it they are distinctively non-
pa rtfcian in their creation and
management
Cost of Buildings
In providing funds for the
creation of these buildings the
state herewith shows the source
fn m which the cost of public
buddings is provided and having
firt applied the accumulated
cash the remainder of the cost ot
buildings which will come from
future rentals and sales of lands
is to be made immediately avail-
able by the issue and sale of pub-
lic building warrants the tenor
of which is set forth in the at-
tached statement
Tliese public building warrants
bear five per cent interest per
annum payable semi-annually
and being free from taxation are
equivalent to about seven and
one-half or eight per cent income
to the owner thereof These war-
raids could readily bo sold to the
ear tern insurance and other iu-
vet fluent companies except for th
provision that “the stale is in t
lie ole for the payment Unroof ’’
which to a stranger calls for an
explanation and the explanation
is this: All necessary public
buildings are provided for from
th rentals and sale of public
budding land and that being the
cac the general credit of the
state could not be given by the
act of the legislature authorizing
these warrants and as the strang-
er does not know the value of
these public building lands lie
naturally is uncertain as to the
intrinsic value of the warrants
hut from the statement below as
to the funds to be received from
tho land already sold and ap-
praisement of the remainder of
tin: land it will be readily seen
that there is an abundance of se-
curity and annual income to make
an absolutely certain investment
and prompt payment of both prin
jptal and interest of these public
budding warrants
ifso is no uncertainty based
on a speculative estimate ’ The
experience for years has shown
tho certain income from land
rental and the sales of one-fifth
of the public building land show
a certain income of more than
one-fourth greater than the ap-
jiruisei jalue
VISES
PURCHASERS
Another important reason for
addressing the people lies in the
fact that certain of the special
interest of our great country
which feel aggrieved at their
failure to domainate the state
have sought to coerce Oklahoma
into submission to their demands
for unfa re privileges and exem-
ptions and as one of the means
of coercion seek to limit the us-
ual financial opportunities of our
state in the great money centers
I of the cast but Oklahoma has
within itself ample means to pro-
vide for its own necessities and
it cannot afford to concede un-
warranted and unjust privileges
to tin sc powerful interests in
exchange for financial favors
These public building warrants
are abundantly secured
The prompt payment of both
principal and interest is abund-
antly provided for
To complete these institutions
the state needs to sell the unsold
part of One Million Two Hundred
Forty-nine Thousand Two Hund-
red Fifty Dollars of tliese public
building warrants
This amount is insignificant
compared with the great wealih
of the people of our own state
therefore Oklahoma does not nei 1
to bo a beggar in the money mak-
ets of the east nor to bow to the
dictation or the coer ion thereof
lu the interest of Oklahoma
and the i-omplolii n of tin so n°e-
essary state institutions I invite
the people of Oklahoma to malic
their investment in these public
building warrants
I invite the Hoards of County
Commissioners city authorities
and school district boards which
have accumulated sinking funds
for th future redemption of tli" r
outstanding bonds to follow' the
provisions of tho law by invest-
ing Midi sinking funds in tliese
public buiidng warrants and in
i-bscn ing this law tlmse sinking
funds will earn the laxpams ot
tliese various communities five
per cent interest as will is abso-
lute protection against any possi-
ble los of sui h sinking fund and
at the same time the co-operation
in upbuilding of the state is th‘
duty of every such Hoard as well
as every citizen
These public building warrants
are in d ‘nominations of Five
Hundred Dubai-1 cm h and where
any citizen or s liking fund Hoard
d"firts a a even live Hundred
Dollars or multiple tii rent! the
original warrant will be obtained
by addressing the State Tr astir r
and enclosing the par sahi" of t e
warrant plus 1'ivc per cent interes
tberton from the first tlav of
May
Where an investment of less
than Five Hundred Dollars is to
be made I have secured t'le con-
sent and io-npcru1ion of 1 15
Ferguson of Laid Oklahoma
1’i‘esnb nt of the Slate Hankers
Asset iatiun II -n H M Garrison
of l’ontl Civile Oklahoma lute
president of the State 1-aruurs
Union and A T West bank r of
Mountain View Oklahoma Th'se
llro gc nth men acting as disin-
terested trustee' with address at
Hnid Oklahoma will issue trus-
tees’ certificates for any amount
less than Five Hundred Doiiars
and hold the aggregate of the
original warrants for tho protec-
tion of and repivsueti’g the frac-
tional certifii utis that timy will
I'stie as such triiotei's to purchas-
ers of umuonts less than Five
Hundred Hollars
L"t the pci pie of Oklahoma
make their invo-gmi lit at heme
L 4 them injoy the intenst all 1
iiieomc and tin r by nut only ob-
tain a good invest mi lit for thcr
surplus money but support tiie
-fate in its d ti ruination to jield
nothing to those who seek to co-
erce the state of Oklahoma into
concessions or submissions dis-
astrous to our own people and
the dignity of this state
Re pectfully
C N Haskell Governor
STATEMENT
There liave hem many state-
ments concerning your various
new state institutions created
since the beginning of statehood
and the provisions for the pay-
ment thefor I therefore deem it
proper to give you the statements
from the official records
The first second and third ses-
sions of the State Legislature
have found it advisable in their
judgment to nuthcrize the loeatio
and ennstrmtion of the following
state institutions:
Additional Buildings at tho Main
A & M College at Stillwater
First Legislature $8700900
Socond Legislature 7000000
A & M District College
“ " 'W
rrr ''iW'i
Second Legislature) - 7200000
School of Mines
Second Legislature $11500000
Girls’ Industrial School
Second Legislature $10000000
Boys’ Training School
Second Legislature $2500000
School for Deaf Mutes
Third Legislature $10000000
Homo for Colored Deaf Mutes
and Blind Orphants
Third Legislature $3500000
Eastern Oklahoma Insane Asylum
Second Legislature $20001)000
Third Legislature 2820000
Feeble Minded Institute
Second Legislature $2500000
Slate Orphans’ Homo
First Legislature $2500000
State University
Frist Legislature $13250000
Normal Schools
'Weatherford:
First Legislature $10900000
Third Legislature 1000000
Durant :
Second Legislature $10000000
Third Legislature 1900000
Ada :
Second Legislature $10000000
Talequah :
Second Legislature $45 00900
University Preparatory School
Third Legislatuie $35 00900
Colored Agricultural and Normal
University
First Legislature $6700000
Qato Penitentiary
Second Legislature $40900000
Third Legislature 20900900
Total amount of appropii-
ation for all public build-
ings to be paid out of
the proceeds of rentals
or sab s of public build-
ing land $211970900
Sources of revenue for payiug
for 111" construction of state pub-
lic buildings is from the r ntal or
aid- of public building lands Con-
gress having granted to the State
of Oklahoma two hundred seventy
one thousand six liuudr- d and
thirty-six acrs of laud for pub-
lic building purposes several year
prior to statehood The rentals
from these lands had been accum-
ulating under Territorial govern-
ment so that at the beginning of
statehood there was accumulated
rentals on baud
amounting to $57113900
Net rentals collected
statehood to June
30th 1910 21310700
Received from sale of
of lands 53 30100
Total cash applicable
to public buildings $87055000
After the application of the
above sum of light hundred sev-
enty tiioii and 1'ive hundred and
fifty dollars towards the paym-nl
for building said sc ernl public
building-' there is required the
additional sum of one millin'
wo hundred forty-niii' thousai d
two hundred and fifty dollars for
the purpose of supplying this
momy
Tlie state has certain public
building land-' or the proceeds
of sale thereof at the values
thireiif to-wit:
Original number of acres of
public bidding land two hundred
s-venly-one thousand six hundred
and thirty-six acres
Total appraised value of this
kind exclusive of improvements
four million three hundred seven-
teen tjiousanil eight hundred and
me dollars
Since January 1st 1910 fifty-
fmir thousand five hundred and
fifty acres of this land appraised
at eight hundred and fortv-two
thousand two hundred and fifty-
five dollars was sold nt public
sale under the provisions of
anact of the Saond Legis-
lature and fold for the sum
of one mill'on sixty-one tlioin
and two hundred ami fifty
dollars being sold at eubstun
tially twentv-six per cent above
the appraised value 1‘ivc per
cent of the purchase price being
fifty-three thousand three hun-
dred anil four dollars was col-
lected in cash and turned into
the public building fund Tho
remaining part of the purchase
price to-vvit: About olio million
eight thousand dollars is payable
in forty equal annual payments
togethir with five jer cent inter-
est thereon payable annually
The security for these payments
is the title to the land itself and
the improvements upon said lands
which were the property of the
purchaser
Unsold Land
It will bo observed that there
is yet two hundred seventeen
thousand eighty-six acres of this
public building land unsold that
the appraised value of said re-
maining lands is three million
four hundred seventy-five thou-
Total annual payment prin-
cipal and interest $13740200
As against this annual payment
you have the above income of two
hundred fourteen thousand six
hundred and thirteen dollars so
that ciii'li year’s income is over
more than is remtired to pay the
maturing interest and principal
of these building warrants
In addition to this fact th
year 1911 will accumulate over
one hundred and fifty-two thou-
sand dollars toward future re-
demption fund duo to the fact
tiiat no part of the principal of
the public building warrants is
payable until after the year 1911
In ease additional public lands
are sold the income after lands
are sold will be greater than the
income from rentals as tho int-
erest on land sold i3 five per cent
as against four per cent for land
rentals and the srdling price mu!
be ecpial to or greater than the
appraised value which is the
basis upon which rentals are
charged
It will be observed too that the
public building warrants are non-
taxable so that in addition to
drawing five per cent interest
per annum the holder of these
building warrants is free from
taxation which in most localities
of the state would bo equivalent
sand five hundred and forty-six j° two ard a Per Cl-'nt sav"
ilollars which in our judgment so taat an investment by a
should sell nt as much above the ! mhzim of this state in theso puh-
appraiseil value as the previous 10 building warrants is equal to
sales have realized so that jn 1 a net earning ot practically seven
ease these lands are all sold tho and a half per cent on the
total selling price would be four i mcmey invested
million three hundred forty-four
thousand four hundred and thirty-two
dollars which added to
the deferred payments yet due
the state on the lands already
sold would' create a public build-
ing ' fund of five million three
hundred fifty-two thousand four
hundred and thirty- two dollars
against which there is no claim
whatever except the remainder of
the appropriation for public
buildings above enumerated to-
writ: One million two hundred
forty-nine thousand two hundred
and fifty dollars so that the
public building fund of the state
will have a surplus of four mill-
ion one hundred three thousand
dollars after all of the buildings
are completed for which appropri
ations have heretofore been made
Tho remaining public building
land will be offered for sale from
time to time during the next few
months but for the purpose of
this statement we will treat all
the remaining land as unsold and
compute the resources of the pub-
lie building fund upon the pres-
ent actual basis
Annual Income
Rentals of unsold laud on
four per cent basis on
appraisement $13901300
Interest on deferred pay-
ments of land sold at
five per cent 5040000
Annual payment of princi-
pal 2-520000
Total annual income $21401300
lu order to provide for the
biiildtng of the above enumera-
ted public buildings and provide
funds fur the cash payment there-
for the third session of the Leg-
islature authorized the issUo and
sale of public building warrants
The act of the Legislature pro-
vided that the amount of public
building warrants to be so issued
should in no event exceed the
sum total of two million and
twenty-five thousand dollars and
that only so much of said war-
rantsas may be required to com-
pletejlie payments for the build
ings authorized by the Legisla-
ture should he issued and sold
It will therefore be observed that
the total amount of this issue pf
building warrants that can now
be isiueil and sold would be the
abov0 lmntiuned sum of one mill-
ion two hundred fm-ty-niue thou-
sand two hundred and fifty dol-
lar' These building warrants are is-
sued in annual series of seventy-
five thousand dollars each the
first series due the first day of
May 1912 and a like amout due
the first day of May each year
thereafter until all are paid
These building warrants bear five
per cent interest pier annum pay-
able semi-annually and are a 1‘irs
ouly lien upon tho renta's
the
and
and proceeds of sale of all
public building lands
It will be observed that the
annual income from rentals and
interest is more than sufficient to
make these annual payments of
principal and interest of said
building warrants as is shown by
tho following computations:
Five per cent interest on
$121925000 of public
building warrants $0246200
Annual payment of prim i-
pal beginning May 1st
1912 7500000
The entire statement above
made as to public buildings pub-
lic lands the rentals sales or in-
comes therefrom may be relied
upon as being official statements
from the public records
Respectfully submitted
C N HASKELL
Governor
Reward Offered
I will pay 1100 tor the capture an
conviction ot any person or persons
stealing horses branded S on should-
er or hip or cattle branded I 3 I
t John C Shaw
Typewriter paper by the
sheets or by the box at the
office
dozen
News
Strayed or Stolen-$iooo Reward
From my place near No 10 Mine on Thursday
night June 30th a dark bay horse about 15 hands
high weight about 85o lbs 4 years old left hind
foot white heavy foretop and double mane when
lost he wore a halter and long rope Anyone giving
information leading to his recovery will be paid
the above reward Notify
JOHN BARR
WILBURTON OKLA
Report of the condition of the
Bank of Red Oak
At Red Oak in the State of Oklahoma
At the close of business June 80 1910
Resources
Loans and Discounts 14039972
Overdrafts secured and unsecured 7083
Stocks Bonds Warrants etc 78141
Banking House 198120
Furnturo and Fixtures 140286
Emergency Assessment Guaranty Fund 13007
Due from Banks 1813877
Checks aad other Cash Items 4817
Cash in Bank 3 00274
Total $6595557
Liabilities
Capital Stock Paid In $10 00000
Surplus Fund 25000
Undivided Profits less expenses and taxes
paid ’ 179440
Individual Deposits Subject to Check 4832599
Time Certificates of Deposit 568518
Total $6595567
State of Oklahoma County of Latimer ss
I R V Iliilbouso Cashier of the above named
bank do solemnly swear that the above statement is
true to the best of my knowledge and belief so help
me God R V Hillhouse Cashier
Subscribed and sworn to before me this 6th day of
June 1910 Corwin Ilornidy Notary Public
My commission expires July 12 1913
Correct Attest: R A Welch
I C Talley (D‘etora
Report of the condition of the
Citizens Bank
At Vfilbarton in the State of Oklahoma
At the close of business June 80 1910
Resources
Loans and Discounts $5858905
Overdrafts secured and unsecured 4210
Stocks Bonds Warrants etc 5521 85
Emergency Asst Guaranty Fund 57260
Furniture and Fixtures 270000
Other Real Estate Owned 277460
Due from Banks 5178354
Cash in Bank 685860
Total $12859224
Liabilities
Capital Stock Paid In $2500000
Surplus Fund 150000
Undivided Profits less Expenses and taxes
paid — 9645
Dividends Unpaid 175000
Individual Deposits Subject to Check 8208114
Time Certificates of Deposit 1663200
Cashier’s Checks Outstanding 153265
Total —$128592 24
State cf Oklahoma County of Latimer ss
I Geo II Pruitt cashier of the above named bank
do solemnly swear that the above statement is true to
the best of my knowledge and belief so help me God
Geo H Pruitt Cashier
Subscribed and sworn to before me this 2d day of
July 1910 J B Kinsey Notary Public
My commission expires March 18 1913
Correct— Attest: L L Sims 1
E J Mahoney v Directors
Ben Mills j
A Regular Toot Boy
was Susie — climbing trees And
fences jumping ditches whltllng
always getting scratches eats
sprains bruises bumps burns or
scalds But laws! Her mother just
applied Bucklen’s Arnica Salve and
cured her quick Heals everything
healable— Bolls Ulcers Eczema old
Sores Corns or Plies Try tt ISs
at Palace Drug Store
j w SORRELS
attorney-at-law
Let me do your notary work
Office in Rosenstein Building
4
L
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Avery, A. B. The Wilburton News. (Wilburton, Okla.), Vol. 12, No. 44, Ed. 1 Friday, July 15, 1910, newspaper, July 15, 1910; Wilburton, Oklahoma. (https://gateway.okhistory.org/ark:/67531/metadc2044364/m1/4/: accessed July 12, 2024), The Gateway to Oklahoma History, https://gateway.okhistory.org; crediting Oklahoma Historical Society.