702 



SOUTH DAKOTA. 



discounts since December, while the individual 

 deposits and the average reserve were decreased. 

 The loans and discounts were $3,322,287 : the indi- 

 vidual deposits, $4,093,906 ; the average reserve, 

 32.17 per cent. The holdings of gold coin were 

 $304,955, an increase of $17,000. 



Industries and Products. There are 145 

 creameries in the State, and the yearly output of 

 butter from its dairies is worth about $3,000,000. 



The wool product was given as 2,060,484 pounds. 



The wheat product was estimated at about 36,- 

 000.000 bushels. 



The gold output of the Black Hills region was 

 estimated at $8,000,000. The total earnings of the 

 Homestake for the year ending June 1 were $2,- 

 494,374.53. 



A natural-gas well at Pierre has been taken by the 

 city and steps have been taken for the sinking of 

 another. 



Public Lands. The annual sale of school lands, 

 completed in April, disposed of 15,457 acres at an 

 average price of $13 an acre. The total sales of 

 school lands, including those of this year, are 161,- 

 142 acres, and the price averages a little less than 

 $14 an acre. 



The forest reservations, which are permanently 

 withdrawn from settlement for the purpose of pre- 

 serving the timber and protecting the sources of 

 the streams, cover 967,680 acres. 



Charges against Officials. The Governor re- 

 moved the Insurance Commissioner in February, 

 assigning as a reason that his deputy had been pur- 

 suing the methods of C. H. Anderson, former 

 insurance examiner, and had collected money ille- 

 gally from companies ; and that the commissioner 

 did not compel restitution and attempted to justify 

 the action of his deputy. He refused to resign and 

 the Supreme Court decided against him. The 

 State has cases in court against ex-Auditor Hippie 

 and Insurance Examiner Anderson. 



In April the public examiner filed a report in 

 regard to the case of Joseph Freudenfeld, who was 

 treasurer of the Board of Regents of Education from 

 1891 to 1894, when he resigned, and declared that 

 on account of the failure of the Farmers' and Mer- 

 chants' Banks, of Plankinton. and the Chamberlain 

 National Bank he could not turn in the funds due 

 the State. 



A settlement was effected by the board, in which 

 $3,900 was accepted from Freudenfeld and his 

 bondsmen in full for a shortage of $9,450. It has 

 been lately charged that the losses by bank failures 

 did not cover all the shortage. This called up the 

 investigation, and the report shows a shortage of 

 $3,897 still remaining after bank shortages are 

 accounted for. 



From the investigations of the public examiner 

 it appears that the State Treasurer, K. G. Phillips, 

 who was the Republican candidate for Governor, 

 has been receiving interest upon State funds de- 

 posited in banks which he has not turned into the 

 State treasury. In his message the Governor esti- 

 mates the total of the daily average balance of the 

 State Treasurer in various banks the past two years 

 at $370,678.41, and computing the interest at 4 per 

 cent., which is the rate received from the one bank 

 which has been investigated, he says that the 

 Treasurer is now in default to the State in the sum 

 of $52,653.86 on the interest deals. The matter was 

 placed in the hands of the Attorney-General, with 

 instructions to prosecute and secure the return of 

 the interest to the State; but he reported that he 

 found no law to cover the case. 



Court Decisions. The act of 1897 providing 

 that decisions of the circuit court in actions to re- 

 cover money or property less than $75 shall be final, 

 was declared unconstitutional by the State Supreme 



Court, because it violates the article of the Consti- 

 tution requiring that laws relative to courts shall 

 be general and of uniform operation throughout 

 the State. This law does not include in its pro- 

 visions certain county courts having concurrent 

 jurisdiction with circuit courts. 



In a decision in October the same court held that 

 personal taxes are a lien from the date of filing. 



Political. State officers were chosen at the No- 

 vember election, as well as the Legislature and the 

 two members of Congress. 



The State Central Committee of the People's 

 party, in deciding upon the time and place for the 

 State convention, considered a resolution to ask 

 the Democrats and Free-Silver Republicans to hold 

 their convention at the same time and place. This 

 met with some opposition from the Middle-of-the- 

 Road Populists, and it was finally modified so as to 

 invite all opposed to the gold- standard and gold- 

 worshiping Republican party to unite with the Pop- 

 ulists in the campaign. 



The Democratic State Committee appointed a 

 convention at the same time and place, and passed 

 the resolution : " It is hereby declared to be the 

 sense of this committee that all the forces of the 

 State opposed to the principles advocated by the 

 Republican party as at present organized should co- 

 operate in the next campaign." 



The Free-Silver Republicans followed with the 

 resolution : 



" Whereas the State Central Committee of the 

 People's party assembled at Huron invited co-oper- 

 ation, the Silver Republican party in the approach- 

 ing campaign, in response to the same, hopes that 

 co-operation of all forces supporting the reforms 

 urged by the People's Democratic and Silver Repub- 

 lican parties in the campaign of 1896 may be se- 

 cured.'' 



The three conventions met, and agreed upon a 

 plan of fusion. 



The platforms were in accord, all favoring free 

 coinage at 16 to 1, opposing bond issues, demand- 

 ing the passage of the free-homes bill, favoring 

 Government issue of all money, approving the war, 

 denouncing injunctions by Federal courts, and call- 

 ing for the initiative and referendum, the nomina- 

 tion of United States senators by convention, and 

 public ownership of public utilities. 



The platform of the Free-Silver Republicans said : 



" We are opposed to the present pooling and trust- 

 fostering policy of railroad management, whereby 

 railroads charge exorbitant rates for transport ing 

 public necessities over public highways that should 

 properly belong to Government, so that they may 

 pay interest and dividends on a fictitious valuation 

 annually increased by larger bonded capitalization. 



" We heartily commend and indorse the reform 

 forces in the recent Legislature for the enactment 

 of the present railroad law, thus redeeming the 

 pledge made in the campaign of 1896; and we in- 

 dorse the course of the present Railroad Commission 

 in the courageous struggle it is making for the es- 

 tablishment of a reasonable maximum freight and 

 passenger rate, in conformity with the provisions of 

 that law. 



"We denounce the manipulators and managers 

 of the Republican party for their evident sympathy 

 and covert support of the trusts and combines which 

 have been formed to control the price of nearly every 

 article of human necessity. The toilers and pro- 

 ducers of the nation under the present system are 

 forced to sell their labor and their products in coin- 

 petition with the whole world, and at the same time 

 to purchase their necessities at such prices as the 

 trusts may mercilessly establish. 



" We are in favor of Government postal savings 

 banks, which will prevent unscrupulous banking 



