The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1890-07-24
THE STATES INCOME.
It Is Flowing Steadily In and
Will Meet Expenses.
TREASURER LINDSEY TALKS.
He Thinks Income and Expenses WIN
About Balance-The License Tar
City Rond Bidders.

the city yesterday afternoon with the in
tention Of transacting some private busi-
ness, but incidentally he did some state
business as well. That was to receive the
first payments into the state tide land
fund. The superior court having awarded
damages to the amount of so, 400 for tide
land occupied by the Seattle & Montana
railroad and $500 for that taken by the
Terminal railroad, Mr.. Lindsey took the
opportunity Of collecting these sums. He
does not profess to know under what pro-
visions Of the tide land Law the court made
these awards. but he took it for granted
that the court knew its business and there
tore collected the money. These pay
ments ensure enough to pay the cost of the
harbor line commission, for which an APP
preparation of Sc. 600 was made, to be paid
out of the tide land fund.
In an interview with q PosT-IHTELLI-
eEScER reporter Mr.. Lindsey said: 1.-THE
state taxes are coming into the treasury
pretty well. There is always shortage of
about Is per cent. on the assessment for
taxes which are not collected but many
years afterward come into the treasury
when the property affected is sold. The
amount of state revenue is doubt
full, because the counties have as
sessed railroad lands, and legal
fight is likely on that point. Still,
think the revenue will about meet the APP
propriations, though there will not be
much 10 spare. and some of the state
officers think there will be deficiency.
Warrants for $50 900 to 500 coo are now
outstanding against the state, including
those for the penitentiary, normal school,
school for defective youth, judiciary and
executive. The warrants, when issued,
are taken at par by the banks and the state
pays 10 per cent. interest on them from the
date of presentation and Endorsement. The
law provides that when q certain amount
of money is in the treasury, the treasurer
shall call the warrants for payment in
order Of priority, and after the call interest
ceases. have made call for warrants to
the amount of $35, 900 to SAC, 900 for Friday
and shall return to Olympia tomorrow to
pay them.
1.-THE license tax is being paid slowly.
The counties generally pay all right, but
the cities and towns are holding back, each
apparently because the others have not
paid. The attorney general is preparing to
enforce payment by the city of Seattle,
and unless the city pays the case will 60 to
the superior court The great difficulty in
this matter is that / don't know what
towns are incorporated. Before the de-
cision of the superior court annulIing the
territorial law on municipal cor
porations, wrote to the coun-
ty auditors inquirina which towns
were incorporated and which were not,
but since that decision was rendered all
this information is worthless. Some towns
have re-incorporated, but the law makes
no provision for keeping records of incor-
porated towns, SO that don't know which
they are and shall have to make my in
quiries again on this point. The license
fund will amount to about $4,000, and
with the exception of the amounts due by
the cities, only small amount is due, as it
is only the smaller towns which have not
paid.
"In regard to the mining tax, / don't
think we shall have any trouble. The
mining companies supposed that the
territorial law of two years ago repealed
the tax, which is not the fact. I have re-
ceived replies to my letter from some COM
panies. and expect to have no trouble in
collecting the tax"
Mr.. H. w. Whipple, of Chicago, is still at
the Rainier and is awaiting the decision of
thC SuPICHC COuIb III tuS teSt case IN re-
gard to the recent bond election before bid
ding on the city bonds. In conversation
with Posr-INTELLIGENcER reporter. he
said that the city would make mistake in
fixing the rate of interest at 5 per cent, as
the bonds could not be sold at par at that
rate. He would not bid par for them at S
per cent. but if the rate OF interest were
raised to 6 per cent. he would bid small
premium. He argued that the city would
do better to pay higher rate of
interest and thereby secure q premium
which would net $4,000 to $4,000 addi-
tional at a time when it needed money
badly than to place the rate at low figure
and sell the bonds at discount He stated
that the city could not expect to secure as
good terms as the state, for many Eastern
states had laws prohibiting the investment
of savings banks funds in city bonds.
Mr.. Whipple is also prepared to bid on
the school bonds which are about to be
issued.