County to Refund Bonds at Lower Interest Rate
County commissioners issue and sell $20,000 refunding bonds to N W Harris Chicago at a 20 year term. County gains a $1 032 premium from the sale and lowers interest costs on the debt.
11 Oct 1895
Page 1
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Newspaper
Mitchell Capital
Location
Mitchell, South Dakota, United States of America
Date
Oct 11, 1895
Page
1
County commissioners issue and sell $20,000 refunding bonds to N W Harris Chicago at a 20 year term. County gains a $1 032 premium from the sale and lowers interest costs on the debt.
The October meeting records the County Commissioners last session of the year held October 7 with Chairman Dougherty and four commissioners present. Actions include prisoner boarding terms, numerous bills from local firms, aid decisions for Mrs. Phelps, and an array of farm and road expenses. A major refinancing plan funds $20 000 of Davison county debt with 6 percent bonds issued for twenty years from October 1 1895 and requires a direct annual tax to cover interest and principal.
Engine 130 backed onto the mill track to move a load but found the car empty. A misreading switch caused the engine to run off the track, tumbling 20 feet beyond the rails. Two hours of salvage followed as crews re-railed the engine, drew it with other cars, and cleared the main line for trains. Local crews warned of minor track damage and a near-disaster.
The Mitchell Fire Department returns home after sweeping prizes in a Sioux Falls firemen’s tournament. The 35 uniformed men won cash for parade presence and several events, including the 200 yard hose and hub race, totaling $240. The juvenile band also earned praise at the fair and in parades. A separate incident reports a Hanson Street home fire caused by a gasoline stove, damaging furniture with $600 insured value. Reverend Dr. Keeling, who preached Lincoln’s funeral, was spotted arriving by train.
The item lists 1813 U.S. postage rates by distance from eight to twenty five cents and notes a large southern Florida crocodile on both coasts, with a Coleridge quote on souls and a Lobelia weed description. The text blends historical rates, natural history, and philosophical doubt.
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