Birmingham state herald. (Birmingham, Ala.) 1895-1897, 1896-11-26
THE STATES FINANCES.

The following is a report of the joint
committee appointed to investigate the
financial condition of the state
To the Senate and House of Representa-
tiveS:
The committee upon the financial con-
dition of the state, appointed under
joint resolution, which was introduced in
the senate on the 18th day of November,
1896, report that they have interviewed
the Governor, the auditor and the treas
urer. Upon information obtained from
these officials your committee makes the
following statements to-wit:
l. The total amount borrowed from
July 80, 1895, to May 8, 1896, both in
elusive, was $4,000. The interest es a. ana nc
expenses on said money was S7,S50.f3
The foregoing sums, both principal and
interest, have been paid in full
On Oct. IA, 1896, the state made an ar
rangement with the First National bank
of Mobile by which said bank agreed
to cash the states warrants to the ex-
tent of 10000, less discount on the same,
at the rate of 6 per cent per annum All
of said funds have been exhausted ex-
cept $301 SO. About Aug. l, 1896, the state
borrowed from the Commercial bank, OF
Selma, Ala, 100000.
This sum, 1t appears, though paid to the
state in installments, at various times,
beginning Sept. %, and ending NOV. e.,
1895, was not technically covered into the
treasury until Nov. IA, 1896. The note
dated Aug. l, 1896. But the Governor
says that he had an understanding with
the bank that the interest should not be-
gin to run until the money was actually
paid into the treasury. SAID note pears
interest at the rate of per cent. per an
num- and natures on the 18th of Janu-
ary 1897.
g. The total amount of warrants OUT
standing, not including those held by the
First National bank of Mobile, as afore--
said, is s31,155S4. A statement OF SAID
outstanding warrants, by classes, Is
found in exhibit "A' hereto attached.
8. The amount due, or to become due,
on or before Dec. 81, 1886, on appropria-
tions already made, and not includlhg
any of the warrants previously mentioned
in this report is 1877, ,059.33.
4. There are no existing ana laWIul
claims against the treasury, maturing
before January l. 1897, not mentioned
above. But the interest on the bonded
indebtedness Of the state, though not que
until January 1, 1897, is required by law
to be deposited in New York City, within
ten days prior to said date, and amounts
to 1924, ,640. 1t is estimated that there
will also be due on January l, 1897, or
soon thereafter, to public schools Ior
the quarter ending December 81, $780,
to Bryce Insane hospital, to Institute for
Deaf and Blind, to interest on Univer-
sity fund, to Agricultural and Mechani-
cal College, and to agricultural schools,
$244, 600
s. The amount of cash in the treasury
on November II, 1896, the day as on
which these estimates were made, was
$17S,4SS. The estimated receipts from
November IS, to December 81, 1896, both
inclusive, Is $2S0,000.
At 12 o'clock today, upon adjournment,
the senate repaired to the lower house
for the purpose of declaring the result of
the election of a United States senator on
yesterday. Also for the purpose of elect
ing a solicitor for the city court of Annis-
ton. For this position it will be remem-
bered that a nomination was made by the
same caucus which nominated a senator,
in the person of Mr. W. c. Tunstall, Jr