The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1897-07-31


1s95-Water 4As, Jan.-July. ......... 29,250
1S97-Refunders As, June-Dec....... 10000
Iotdl o. 4VV,S wv
The city tax levy for the current fiscal
year will certainly be not less than the
legal limit of s10O for general purposes
and cannot be less than 25 cents additional
for interest and sinking fund. The assess
ment on property in the former city limits
foots up $50 SIS, 1S7, and this is all the prop
erty liable for contribution on account of
bonded indebtedness. The annexed ter
ritory is assessed at $4,256,149, making the
total assessment sGO,1S1,SS6 (subject to
equalization), an increase of nearly eight
million dollars over last year, one-half of
which is due to the increase caused by the
annexed territory.
The auditor figures that it will be neces-
sary to raise by direct taxation for gen.
eral purposes, that is to say for running
expenses, 1891 1924 for the fiscal year.
But it must not be forgotten that in ad-
dition to the amount thus raised the au-
ditor counts upon getting a city income
from licenses, fines, building permits and
fees of s279, 275.1S, to help defray running
expenses. This will make the total es-
timated expenditure for the city govern
ment SSH ,204.42 for the fiscal year. Add
to this the $751;, S44 required for interest and
sinking fund and it will be seen that the
municipal blessings of the taxpayers will
cost S10O2, 54S or, in round figures, about
ten dollars per capita for every man, wo-
nd in city limits
The owners of city property are not at
the end of their rope when they pay the
above enumerated amounts, for the rea-
son that under the dual government of the
city and county, it requires another set
of assessors, tax collectors, treasurers.
principals. chief deputies, deputies and
assistants, who all draw salaries for doing
what the city officials have already done.
Therefore, another s1.2O or s1.30 per 500 will
be levied to provide for these additional
luxuries, an imposition that the patient
taxpayer seems likely to have to bear until
the end Of the chapter.
Local Bond Offerings: Dominguez School
District, 1920, Is, August I'd. Vernon
School District, s25OO, 6s August 3D. Wise
burn School District $4,000, SIS, August 4th.
The Woman's Real Estate Company of
Kansas City has been organized with a
capital of $11 600 All the stockholders and
officers are women and not a heather man
will have a word to say about anything
May success attend the sisters.-American
Inves tments.
L
The Kansas State Bank Commissioner
has completed the abstract of returns made
by 1913 State and private banks, showing
the condition on July l. They show a de-
crease of loans of 1921, 105; increased de-
posits of $3.50, 1923; increase cash on hand
of $2,213646; total loans carried by the
banks, $15, 634 2O6; total cash on hand
1881. 204 total deposits, SIS, 050, AGO. This is
the first time in the history of the banking
department that deposits exceeded loans
The chairman of the London Joint Stock
Bank. at meeting of the shareholders, re-
ferred to the business outlook in very
hopeful terms for both sides of the water
The harvest prospects of both countries
he described very promising, while the
crops nearer home were less favorable, and
the gold shipments from New York We're
not likely to be large. The outlook OF
trade generally was now more promising.
he continued, and there were evidences of
gradual Improvement of trade in the
United States. If the currency question
could be Settled and the stationary en-
gineers' dispute arranged. both countries
the United States and England-might
speedily enjoy better times.
The Bank of Commerce and the Mer-
chants National Bank of Peoria, ILL.,, have
consolidated. The Bank of Commerce
passes out of existence, and the business
of both organizations is to be carried on in
future by the Merchants National Bank.
Chief Hazen gives notice of the following
new counterfeit ten dollar United States
silver certificate:
Series 1891 check letter D, J. Fount Till
man, Register; D. N. Morgan Treasurer;
small carmine seal, portrait OF Hendricks.
This counterfeit is apparently wood-cut
production, very poorly executed. The
portrait of Hendricks is so bad that an at
tempt to describe it would be futile. The
seal is light pink, instead of carmine. The
numbering is irregular, both in size and
formation and the same number (9S50l29)
appears on the two specimens before me.
None of the small lettering in border face
of note can be deciphered. The parallel
ruling and lathe work bear no comparison
with that on the genuine, and the sigma
lures of the Register and Treasurer look
like attempts by an unskilled penman. The
printing of this counterfeit is as bad as the
engraving. Red and blue ink lines serve
as limitations of the distributed silk threads
in the paper.
\ y
The June pump line runs of Pennsylvania
oil were nearly 5000 barrels day in excess
of those of May. 1t was. according to the
Derrick, 500 barrels a day ahead of con-
sumption, and increased the stocks over
1856 900 barrels. 1t is calculated that the
oil production of the United States for
1897 will exceed that of any previous year.
+ 4 4
The annual report of the Welsbach Light
company gives gross earnings for the fiscal
year ended April 80. 1897. at $463 OF. After
charging off $66.415 for depreciation of in
ventores and patent litigation and paying
s412 AS in quarterly dividends, there was a
surplus of undivided profits of $50, 1895,
which, added to undivided profits of pre-
vious years. makes total undivided profits
of $101592.
INSURANCE
The New York life insurance report, re-