The herald., 1897-08-13
OFFICE OF THE HERALD,

OFFICE OF THE HERALD,
Los Angeles. Aug. IL. 1897.
The naked truth frequently needs an
abundance of clothing.
The fiscal year opened with deficit for
the first month, as is shown by the Treas
ury statement for July made public on
sthe I'd inst. The receipts for the month
amounted to s3s,027, 1884, which represents
an increase of over 81, 400, 900 as compared
with the preceding month, and of nearly
s10000.ooO as compared with the corre-
spending month of the preceding year. The
expenditures, on the other hand, amounted
to $50 10o,9oS which represents an increase
of over $27, 900 as compared with the
month of June. and of over IS, 900. coo as COM
pared with July of last year. AS Will be
seen by comparing the receipts and ex-
pendtures for the month there was an
excess of the latter amounting to SILL
013544. This excess is attributed to un-
usually heavy disbursements incidental to
the beginning of the fiscal year. At the
same time. it must be recollected that they
were nearly fifth more than those for the
same month of last year when the fiscal
year likewise began. The receipts from
customs for the month amounted to s16-
966SO1, which represents an increase of
about 5000, 900 as compared with the corre-
spending month of last year. This in
crease, was, of course largely due to i'm
portations in anticipation of the passage
of the tariff law, and the same influence
cannot, naturally be.expected to swell the
a;r,tC for +1o
The receipts from internal revenue sources
were unusually large, amounting to S19,-
767,S31, an increase of over S., 400 900 as COM
pared with the corresponding month of
last year.
TIL aggregate of interest bearing and
non-interest bearing debt amounted to
ST. 226, 1853. 102 9O decrease of $780, 800 for the
month, while the certificates and treas
ury notes offset by an equal amount of cash
in the treasury amounted to s5SS, 513, 953. a
decrease of $780, 600 for the month. The
cash balance in the Treasury at the end
of July amounted to $233, DIG, 1852, a de-
crease of $7,121,1 1894 OF this amount
$100,0000 900 constitutes the gold reserve, the
remainder being classed as the net cash
balance in the form adopted by the Treas
ury bookkeepers.
A slight decrease occurred in the amount
during the month. The total circulation
amounted on July 81, to $3.50, 75S, 1885, which
represents a decrease Of s597,19O for the
month, but an increase of 81, 4S1 as COM
pared with the corresponding date last
year. The portion of the circulation based
on the deposit of bonds amounted to $685.
49S95e, which represents a decrease Of $751;
1882 for the month, but an increase of $685., :
452 for the twelve months. ending there
with. The portion of the circulation based
on the deposit of bonds amounted to $24,-
259,9s0, a decrease of s4O6, ,0i9 for the month.
but an increase of S4421, ,O29 for the year
ending herewith.
The New York Daily stockholder re-
ports the dividends and interest payable
in August as follows:
DIVIDENDS ..........................$ .$14, ,267 2S2
interest .........."............... 9,0H $50
Total OBSERVATION-DISCLOSURES. $23, S14 1872
In 1876 OBSERVATION-DISCLOSURES. %, 3d. 1863
IN 1880 2I,0oi ,Ai
Interest on $1,000O00 Government per
cents and 1852, 315, 400 of Government per
cents has also been made payable since the
LIST inst, amounting to $2,S73,154, which,
added to the above total, makes $261S7,-
936 payable this month. 1t is estimated that
the overlooked interest and dividends will
further swell this total to about $2S. 900 =
000 Most of this money will manifest it.
self in various forms all over the country,
thus quickening the currency movement.
A press dispatch from Topeka announces
that a. close inVpStipra finn hot 40
made of the actual value of property in
Kansas upon which eastern insurance COM
panies have made loans. A detailed state
ment of the condition of Kansas mort
cages will be made by the State Superin-
tendent of Insurance, who hopes to bring
about general investigation of the in
surance loan business throughout the
country. The most significant statement
in the dispatch is to the effect that the
superintendent believes that the security
of many of the loans referred to is not
worth one-fourth the amount of the loans
This condition of affairs. it is said has
been brought about by the shrinkage of real
estate values since the loans were made
The superintendent contends that the in
surance companies will have to adjust their
financial affairs in such a manner as to
properly meet the changed conditions and
make good their showing Of assets. 1t
need scarcely be said that the eastern
companies will be interested in the in
vestgation from another point of view
4 + +
At the San Francisco Stock and Bond
Exchange yesterday morning Hawaiian
Commercial sold at 1S1ad1Ss Hutchinson's s
Plantation at 301ad31. Giant Con. Powder
. at 3514a351a, Vigorit Powder at 1902 Mu-
tual Electric at 9as. San Francisco Gas and
Electric at 975s and Spring Valley Water
at 100%.
The Dime Savings Bank of Brooklyn
now reports deposits amounting to $21 ,4O4,
40.
+
Charles r. Seschau, receiving teller of the
German American National Bank of St.
Paul Mimi. who pleaded guilty to steal
ing several thousand dollars from the
bank, was on June 29th sentenced to eight
years in the state prison.
Y + +
The average duty under the present tariff
act is calculated to be 5466 per cent ad
valorem compared with 1910 per cent
under the Wilson act
Real Estate
Eighteen mortgages and trust deeds
were recorded yesterday, aggregating $1S,-