The herald., 1897-10-16
OFFICE OF THE HERALD,
LOS ANGELES. Oct. Is.

LOS ANGELES, Oct. Is.
How few people there are who imagine
that when they take q lease of building,
which lease contains a covenant to re-
turn the building to the landlord in good
order and condition, reasonable wear and
tear from ordinary use excepted" that
they are thus rendering themselves liable
for the reconstruction of the building In
case 1t should be destroyed or injured by
fire. Yet the supreme court of Washington
held. in the case of Armstrong VS.. Maybee,
reported in the Baltimore Daily Record,
that a tenant need not rebuild, in case OF
the destruction of the premises without his
negligence, unless he has expressly cove
nanted to do so, and that a tenant express
ly agrees to rebuild in case of destruction
by a covenant to maintain the premises
during the term in as good condition ana
repair as when leased, and to return them
to the landlord at the expiration OF the
terms in such condition, reasonable wear
and tear from ordinary use alone except
ed" The court in deciding the case said:
'In the case at bar we are unable. from
any fair reading of the whole lease, to
find any doubtful language, or anything
would require other than one construction
of the language used. They chose to use
language and terms which have had re-
ceived meaning in the courts for genera
tions, and though the phraseology may
slightly differ from that of contracts un-
der consideration in some of the adJudi-
Gated cases, we cannot see any distinction
in the meaning. We are not able to hnd
any qualification of the general covenant
to repair in said lease The contract is one
before the court for construction and en-
forcement as the lessor and lessee have
made it, Our conclusion is that 1t imposed
en the lessee the obligation to rebuild the
mill which was destroyed by fire.
The net result of the conference of may
ors and committeeman at Columbus Ohio,
last week was the formation of League
Of American municipalities, which has for
its central object the general improvement
of every branch of municipal administra-
ton. This object the league hopes to FUR
ther by the perpetuation of the organiza-
ton as an agency for the cooperation of
American cities in the practical study of
ministration, by the holding of annual con-
ventions for the discussion of contempora-
neous municipal affairs, and by the estab-
lishment of a central bureau of informa-
tion for the collection, compilation and dis
semination of statistics, reports. ana all
kinds of information relative TO municipal
government. Under the plan of organiza-
ton adopted any city in the United States
or Canada may become y member mem :
bership fees being graded in accordance
with population. Cities holding member
ship in the league are to be entitled TO
send their mayors and as many members
of their council and boards OF aldermen
as they desire as delegates to the annual
meeting Detroit, Mich, has been CHOSEN
as the next place of meeting. The league
would seem to have great possibilities OF
usefulness before it, but to what extent
these will be realized can only be deter
mined by experience.
A report has just been submitted to Gov
ernor Wolcott of Massachusetts by ma
jority of the special commission on tax
alton appointed by him some time ago.
The report recommends, among other
changes in the tax system of the common
wealth. the levy of an inheritance tax at
the rate of 3 per cent, with an exemption
for estates not exceeding $4,000, and ali
abatement of $1,000 on estate; between
$4,000 and s25, ,0O0 the revenue from the tax
to be distributed from the state treasury
among the several towns and cities, one
half in proportion to population and one
half In proportion to assessed valuation
A tax in proportion to house rentals is pro-
nosed. only the excess over S40o of rental
being taxable. The assumption by the
state treasury of county expenses is pro-
posed, as Is also the appropriation by the
state of the revenue of taxes ON the cor
porate excess now distributed among the
several cities and towns. On the other
hand, the report suggests the abolition of
the present taxes on intangible personality,
such as stocks, bonds and securities, and
loans on mortgage income, relying on the
taxes on inheritances and on rentals to
yield at least as large revenue as is now
secured by the taxes to be abolishd.
+ 4 +
Th managers report at the annual meet
ing of the New York clearing house showed
exchanges for the year to have been $751;
s37, ,76O 9l7, a gain of nearly s2000 100000 over
1896. of more than 1000, 600, 900 over 1895, and
of more than $1,000 900 over the year 1891,
thus making the past years exchanges the
largest since 1898. The report Of the asso-
citation showed that it numbers Sc members.
46 Of these being national banks and 10
state banks There are II banks. trust COM
panies, etc., in the city and vicinity not
members of the association, which make
their exchanges through banks that are
members.
The annual meeting of the Western I'm
ion Telegraph company. held on the 18th
inst, resulted in the election of the old
board of directors with one exception
the election of Jacob H. Shift to fill the
vacancy caused by the resignation of John
Van Horne one of the vice presidents of
the company. The net revenue, expenses
and profits for the year ending June 80,
1897. were as follows: Revenues, $22, ,63S $780,
expenses, SIG, 9O6. .656. Deducting money ap
piled for dividends, interest on bonds and
sinking fund appropriations. there is a
surplus of s7,647.541 to June S0th.
\ 4 +
The organization of the greatese combi-
nation of window glass manufacturers ever
formed in this country was completed at
Camden, N. j., on the 18th inst. 1t was
named the American Window-Glass COM
pany and is composed of ali the factories
in the country, except half dozen small
concerns, The capital stock was fixed