The herald., 1898-03-29

lnuIcateB TINS IN several cases ana the pros
poets for the current year point to even
worse results unless better counsels pre-
vail. For example, we notice that the rec
ord Of the City Trust. Safe Deposit and
surety company Of Philadelphia for 1897
shows that 96 per cent Of the premiums
Received were used up in expenses, to which
upwards OF 23 per cent for losses must be
added. Some OF the other companies,
I though making a less unfavorabe showing,
had expense ratios from thirty to fifty per
cent larger than can safely be incurred in
> business of the kind referred to. 1t is OBJ
vious that more than one form of casualty
insurance must experience sundry healthy
reforms or there will be some mich-to-be
4 rsgretted disasters In the near future.
! o o q
In the case Of Seymour ct al. w. JEFFERSON
et al, recently decided by the supreme
court OF Minnesota, 1t appeared that sub
ScriptiOn contract was conditioned upon a
certain amount Of stock being subscribed
for. Several Of the subscribers were cor
porations whose articles Of incorporation
e did not authorize them to subscribe for the
stock. but enough of these paid in full to
make, with the other subscribers, the
amount SO called for. The defendants when
they subscribed knew that these coropora-
tions had subscribed, and the defendants
! Afterward paid part Of the amount Of
their subscription. The court held that un-
der these circumstances the defendants
waived the objection that the subscriptions
OF these corporations were ultra wires, even
II that objection could be made in the ac-
tlon.
o o o
a contest In which all insurance COM
panies are interested IL before the Mary
land legislature. The old line companies
have had bill introduced by Senator Dry
den to compel lately organised companies
which do not maintain reserve fund. but
charge only half the premium. with the un-
derstanding that they may impose ASSESS
ments upon beneficiaries whenever It is
deemed necessary to meet b1lsations, to
print across the face of their policies the
fact that they are assessment companies.
!. This provision Of the Dryden bill, the as
sessment corporations, of which there are
about dozen doing business in Maryland,
troduced an opposition bill to protect their
interests.
Holders Of shares In local illuminating
companies are Just now on the anxious
seat. says the San Francisco Bulletin. for
they see the values of their securities fall
ing away. 1t Is hardly possible to trace
this depression to Spanish war rumors. The
only war from which these stocks are at
present suffering is that waged by certain
newspapers. This has been going on in
various forms Tor several weeks. The first
attack was on the quality Of gas furnished.
the claim being made that 1t contained a
deadly poison. When these papers found
out that It was the case with all gas the
charge was the percentage Of the monox-
ide was greater In the gas made here than
elsewhere. The tests made by the health
Officers having disproved this assertion,
- NM Il al kIAk yl~A -
doned. The gas makers have never cDn-
{ tended that gas should be inhaled In pref
erence to wholesome air. The persistehty
OF these attacks suggests that there MUST
be motive for them. 1t may be the public
good and It may be private gain. Whatever
the reason. many innocent holders Of these
stocks are made to suffer heavy losses If
compelled to realize under existing condi-
tions.
Full returns of the dividend payments
by South African mining companies In
1897 are now In, and though the total
amount distributed among the sharehold-
ers Of that class Of concerns is considera-
outcome would seem to show that there
is very solid basis to the so-called Kafir
circus. The aggregate for the year 1897
rssShs: rsS 2ssl n Of s a@S g. sSnDassa p ,
while in 1894 the dividends were H3,57S, ,55S
ana in 1893 only earn 4s5. It will be seen
: from this that In spite of political agita-
African republic infiicts upon the foreign
: mining interests, the latter have not had
en- unfavorable year; in fact the above
ngures are somewhat misleading in rela-
ton to the outcome of the gold industry
itself. since they include the returns Of the
diamond mining companies. financial or
ganizations, and a great number OF land
and promoting concerns. It II In the latter
class Of corporations that the falling on
Of dividends has mainly occurred; |; in fact.
the gold mines Of the Witwatersrand show
9 very considerable increase, having paid
tune Of e1 III, against 81. ,ss2 in 1895,
while In 1895. their most prosperous year
In the past. the total dividend return was
Gz0@H6 It may also be noted that a
much larger proportion Of the gold taken
from the ground was paid out to the share
holders in dividends The calculation as
to the asgregste e M ~ value q the gold produce
spanies paid to their London shareholders
no less than 26h per cent of the gold
product. as compared with is per cent Of
the total in 1896.
The Russian wheat crop Of 1897 is given
az ~, ,SOo 900 bushels. against aH 900 900
placed at eOs, SOC. 900 bushels, against 7ss.-
o30 0oQ IN 1S96. Oats yield In 1897 was 5l0.-
oooooo bushels. against 662, ,ooo. 900 bushels In
Z o 0 o
The OFFICIAL statement of anthracite pro-
duction places the February output at
about S,7&0o0 tons, as compared with a
production in January of about 500. 900
Statistics compiled by the british hoard
Of trade for February show q decrease in
the value Of the imports or ei.1712so as as
compared with February, 1887, and de-
crease in the exports Of British and irish
produce end merchandise during fha
month Of Ee32 ,ss3. The principal decreases
in imports are to be found IN articles Of
food ana drink, metals, chemicals and dve-
ytuRB, raw materials for textile manufac r.
ture ana raw materials for sundrv mann I.
faoture. The articles showing Increa ses
are animals, manufactured articles StSd
.tulscellaneous articles. In export9 ffie
principal decreases were due to metals and
manufactures therefrom. machinery and
.mill work ana articles Of apparel.
Transfers, $1,000 and Over
MONDAY. March q. 1soS.
+. Kelly to o. Olson and c. r. Johnson--
Lot Il, blk ), Sanchez tract; $110O.
n. r a. and ". F: Hanes to w. n.