The herald., 1897-08-06
OFFICE OF THE HERALD,
T.os Anpe1es Aup K 1907


On Tuesday Lord George Hamilton,
Secretary of State for India, was
asked in the House of Commons why
the East India Railway owned by
the government, had purchased 770S
tons of rails from the Maryland Steel
Company of Baltimore. He, in reply, made
the statement, which must have been re-
ceived by his auditors with astonishment,
that the lowest British bid was 9S675 higher
than the American tender. On the same
day that this incident was reported over
the cable came the announcement that
English firms are very indignant that the
contracts for the traction plant of the
London Central Railway, which is to be
an underground electric line, have been
given to Americans. The contracts amount
in value, it is said, to hundreds of thou
sands of pounds. The secretary of the
company has felt called upon to explain
that the contracts for carriages, locomo-
tives and machinery were given to Ameri-
can firms on the advice of electrical ex-
perts, who represent that the greater use
of electrical traction machinery in the
United States has brought its manufac-
ture to a higher degree of perfection and
made it far less expensive than in Eng
land. These are facts of a kind which
seem to render comment unnecessary.
They deserve to be given place of prom
inence in the record of current events as
illustrations of what is possible to Amer
lean skill and resources.
+ +
An act recently adopted by the Vermont
legislature provides that in order to hold
the maker, indorser, guarantor or surety
of any check or draft deposited with or
forwarded to any individual or bank for
collection, or owned by any individual or
bank it shall be sufficient for said indvid-
ual or bank to forward the same in the
usual commercial way now in use. accord
ing to the regular course of business and
\ the same shall be considered due diligence
In the collection of such check or draft.
r y +
slight decrease in internal revenue
receipts for the last fiscal year is noted in
the preliminary report of the commits
soner made public last week. The total
receipts for the year amounted to s146,-
619, ,50S which represent a decrease of SILL
106 as compared with the preceding fiscal
year. Spirits, which yielded the principal
share of revenue, produced $50, ,00S, ,55S, an
increase of 1888, 4S7 over the previous year.
tobacco yielded $50, 40, ,297 a decrease of
$1331; fermented liquors, s32, 1862, de-
crease of $1,312. .O73 oleomargarine, s1O34,-
1923, a decrease of slS5,SOS; filled cheese, 49,
1892 Qaw not in force in 1886: miscellaneous
of
banks and bankers, $50, decrease of s49
Illinois lead the other states as regards
the amount contributed to the internal rev.
enue. followed at a considerable distance by
New York, Kentucky Ohio. Pennsylvania
Indiana, Missouri and Maryland, in the
order named,
r. G. Dun & Co.'s monthly review of
trade conditions in Southern California
issued today, says: Commercial skies are
brighter. In our immediate district re-
ports are most encouraging; crops almost
without exception good, volume of busi-
ness on an average increasing and colec-
tions better than last year. The wheat
crop of Southern California is from % to
80 per cent larger than a normal year, and
from 10 to II per cent heavier per sack than
last year. 1t is estimated about 1000 900
bags of grain will be harvested south of
Tehachepi. Beans have advanced, owing
to increased demand, though acreage is
about 1900 short of last year. Prices paid
for barley and wool are better than have
prevailed for four years.
The increased duty on citrus fruits, nuts,
figs, raisins, etc., is a decided advantage
to growers and the new rates on wine
brandy and olive oil help along prosperity
The estimate of the coming orange crop
remains at 10000 carloads. The lemon
crop of current year foots up 1000: of these
400 have been shipped, 600 remaining to be
sent forward between now and Oct. S1st.
No satisfactory estimate of the olive
output can be obtained. but it is
generally conceded that the crop har-
vested this year will not be large. The
mustard yield is also disappointment,
reaching only 80 per cent of estimate. The
failure to get duty on raw mustard is
a blow to the industry.
The apricot season is about over. The
choicest quality of fruit has brought good
prices. Much of the crop has been dried.
The peach crop is maturing rapidly and of
good quality The output of the fruit can
neries is average, but prices not strong.
Comparative little is being done in the
dried fruit market Buyers are shy in of
fering on new crop of apricots. The price
outlook for prunes is better. 1t is thought
the mining excitement will have good
effect on this market. The raisin pack Is
estimated about that of last year. The
delivery of sugar beets begins with the
opening OF the month. The two large beet
sugar factories will pat considerable money
into circulation.
Locally the business situation is promis-
ing. Aside from the announcement for
the future offered by new tariff rates, new
mining Developments, opening of trade be-
tween this city and commercial centers
along the coast of Mexico, projected rail-
road building, ETC.. there is the assurance
from our business men and manufacturers
that there is now a siow conservative,
steady expansion of trade. based on in
creased consumption of our mining and
agricultural districts. with whom condi-
tions are better than they have been for
some time past. Perhaps nothing shows
more conclusively the betterment of condi-