The herald., 1897-08-03
Mortgages. Releases.


Twenty-Five mortgages were filed 31st
ult., covering $Ss,s27.5O. among the largest
Of which were D. Freeman to Security Saw
ings bank for $4,000, for one year at s per
cent and A c. Freeman to same for $4,000,
for three years at per cent.
It is a fact that, notwithstanding all
that has been accomplished in the field of
electrical discovery, the attitude of the
public mind toward electric research is
that of confident expectation. This atti-
tude is maintained by the frequent an
nouncement of dscoveries-results of ex-
perimental investigations-which, while
not in themselves revolutionary, or, SO far
as present indications CO. even calculated
to initiate any important change in current
practice, are yet of a character to show
how narrow is the margin of the field al
eady cultivated, and how broad and rich
\ that portion yet Notwithstanding
'gazine.
Chinese Finance.-The London Econo-
mist s1ys: "In view of the probable bor-
rowing upon large scale by the Chinese
government in the near future investors
would do well to bear in mind how unset
tied the position of the empire is, and how
serious is its financial outlook. In letter
of the Times points out that the financial
necessities of the country are every day
becoming keener, and now when China
has need of all her resources, when reve-
nues formerly distributed for internal
needs are being collected to pay foreign
Indebtedness, when terminal charges and
others wrongfuily imposed to nulify the
value of transit passes are being abolished
in obedience to the will of treaty powers,
with consequent shrinkage of revenue, a
famine has broken out in two of the richest
provinces, Szuchuan and Hu-pei, and
great decrease in the land tax and opium
slikin must further weaken the treasury.
Cannibalism is reported in the famine dis
tricts. The secret societies are at work and
the officials are in dread Surely China
has dark days before her. All is tending
to unrest. The uprising in Yun-nan the
raids in Kwang-si. the murder of Pere
Mazel, and the foreboding of rebellion in
Yun-nan in sympathy with Mahommedan
1nsurrection in Kan-su are all of evil por-
tent. The prospect is thus extremely
gloomy, and greater display of states
manship than has yet been made in Pekin
Will be required If grave results are not
to- follow"
Foreign Taxation on Incomes-In Ans
tria incomes are divided into three classes.
Those from trades that are required to nav
license tax and agriculture are taxed
about 10 per cent. Professions and insur-
ance dividends pay 20 per cent, and inter-
est and invested capital hand over 10 per
cent. Omissions and falsifications multi
ply the tax by three. In Italy the tax is
about IL per cent. Denmark demands per
cent on all incomes exceeding S215, and in
Sweden all incomes exceeding $125 are re-
quired to pay per cent. But it is in Switz-
erland where the income tax has full sway.
The system here is a progressive one. A
man earning $500 is assessed one-fftb.
while man earning $500 is assessed on the
whole amount. Hence it is that the laborer
pays per cent the mercantile employe 5
per cent; the small manufacturer 10 per
cent while the wealthy capitalist comes
down with his 25 per cent. The system of
Basle Is even more burdensome, resulting
in 535 persons of the highest income class
paying four times as much as 1897 persons
belonging to the five lower income classes
y 4
In reviewing the production of iron for
the first half of the current year, the bull
ietln OF the American Iron and Steel Asso-
clation, In Its issue of Tuesday last says
mat the total production of pig iron in the
United States in the first half of 1897 was
44OS,4i6 gross tons. AS compared with the
Ilrst half of 1896 there was a decrease in the
first half of 1897 of 572, 76O tons, but as COM
pared with the second half of 1896 there was
az Increilse OF iob,5 800 tons. The production
OF Bessemer pig iron in tho first half of
1887 was 2,49597S tons of all kinds of pig
iron in the first half of 1897 over the last
half Of 1896, 6S4,695 tons, or almost six-sev-
enths was of Bessemer quality. The whole
number of furnaces in blast on June 30
1897. was lac. against 159 on December Al
1896. The number out of blast on June so
1897 was 319. Unsold stocks of pig iron on
June S0 1897 in the hands of manufacturers
or their agents, and which was not intend
ed for their own consumption, amounted to
S27. .16S gross tons, against I'll, $40 tons on De-
cember 31st, an increase of 1854 tons.
y \ \
Why Japanese Labor is Cheap-The st.
Louis Globe-Democrat publishes the fol-
lowing: "An American traveller who went
to Japan to study Japanese commercial
methods and conditions, and especially the
question of cheap labor, says that the last
issue was made very plain to him In few
words in casual conversation with a
Japanese gentleman who had spent ten
years of life in Europe and America. He
said: You people are inconvenient. You
require SO much more than we Japanese to
keep you comfortable. Here, for example,
you are paying s. (sllver) day at your
r. nj L..