The herald., 1898-03-26
OFFICE OF TIE HERALD. I,
LOS ANGELES. March 25, 1895.
Half our mistakes in life como from
being III a hurry"

Half our mistakes In life como from
being IN a hurry"
The increasing difficulty Of placing bank
money Mt remuncrative rates has beer
shown during the past year in decreased
dividends and notices to depositors OF saw.
ings banks that it may be impossible tc
continue interest rates at the present maxi
mum level The steady absorption OF mu-
ntcipal and state securities and other gilt
edged collateral to which the savings banks
are limited in many states, says the New
York Financier. has brought these instltu-
tons face to face with a serious problem
They must do one of two things--purchase
public bonds and make other investments
at a price which allows but little return fol
the money Of the depositors with the Ger.
tainty that the premiums paid will in the
nature of things still farther eat into this
YIELD or they must enlarge the scope OF
their interest bearing capital by including
securities now barred by statute or con-
servatism.
The official estimates OF the gold OBJ.
tained from the Yukon region In 1897, sub
mttted by the Canadian Geological Survey
to the Dominion parliament, agree very
nearly with those of the Engineering and
Mining Journal. Dr. Dawson, the head OF
the survey, puts the total at 81 500 900 for the
year 1897; and he Is careful to add that al
present there Is no recognized method OF
obtaining accurate statistics. or OF sepa-
rating the amount of gold obtained on the
Canadian side OF the line from that mined
In Alaska.
o o o
A report OF the Michigan business of life
and accident companies has been received.
Two Michigan companies Issued policies
amounting to $l,165, 1884; received In pre-
miums, $252 ,596; and paid losses of $751;
527.67. Companies of other states wrote In
surance amounting to SO, ~ ,267.60; received
in premiums, 4229, ,795. rs; and paid in losses
81 .676. .O3S02. The business written by the
three industrial companies amounted to
81, ,213, ,6S4 Cooperative life and accident as
oociations of Michigan and other states
wrote insurance amounting to $17g76,-
11157. Fraternal associations wrote $Al,-
065. .225. Casualty. fidelity and miscellaneous
companies wrote total risks of S79, 800 III. Al; !;
received in premiums, 1885,. .2l9.60: and paid
losses Of s1OS, ,71764.
A bill has been introduced in the New
York legislature to prevent the savings
banks from reducing the rate of interest
on deposits so long as the surplus fund Of
any bank is not below TX per cent of its
deposits. The existing law provides that
when the surplus exceeds Is per cent of the
deposits the excess must be distributed pro
rata among depositors at least once in
three years. The proposal to cut the sur
plus limit in two, whatever its purpose,
must tend toward weakening the banks,
hi icI, tc RI Arvy tro 1r
bill appears to be aimed at the banks which
recently reduced the interest rate to 3ls per
cent. But If this rate Is bound to prevail
generally, as the steady diminution of the
average rate of income from first-class Sc
curities seems to imply, the Armstrong bill
must result only in reduction of the sur
plus limit to a figure which is no longer
ana therefore highly objec-
efforts are being made in the United
States,' says Secretary of Agriculture
Wilson in the March Forum, Ito extend
the growth of sugar producing plants by
Quoted research at state experiment sta
tions and by private enterprise, under the
direction of the federal and state govern
such plants Will flourish
best, to the end that We may as nation
become independent OF other countries in
this regard, =. and distribute among
our own people the immense sum of money
is now sent to pay for sSec,
should be discussed from the standpoint
Of the farmer rather than from that of the
political economist. The farmers of our
country produce from the soil grains, cot
ton, tobacco, vegetables, fruit, horses, cat
tie, hogs, sheep, various animal products
and the like; and If we can add to our farm
system any crop that yields an article of
common use, is not exhaustive of plant
food, and whose by-product is valuable In
meat and dairy products, it will
And favor with producers. There are very
few crops, or manufacturers OF them, of
which this can be said SO emphatically as
It can be said Of sugar beets The grains
are we'll known soil-robbers. They carry
from the soil nitrogen, potash, phosphoric
acid, lime, magnesia. and the other ele-
ments of plant food. Tobacco is peculiarly
by-products are fit for animal food, and
what Is sold from the farm carries away
30 much mineral plant food that most soils
are soon exhausted If not replenished by
fertilizers, the purchase OF
which is out Of the question in many parts
of the United States. Meats take away
little plant food from the
soil, compared with their money value.
stalks are plowed under and the seed is re-
turned to the soil, either directly or
through the instrumentality of domestic
The oil Of the cotton seed may
be sold without taking any plant food
rom the farm. as it comes from the at
nosphere through the leaves of the plant,
Butter Is also harmless In this respect,
and does not impoverish the land on which
The, cow grazes. Sugar is harmless as oil
Ind butter: 1t comes from the carbonic
lioxide of the atmosphere. II the sugar
)eet Is hauled to the factory and the pulp
aiken back to the farm, no plant food Is
lost to the soil.
"The writer grew beets by the acre for
stock feed from 1891 to 1896 at the Iowa
agricultural college, and found the enter
prise profitable for that purpose alone.
All domestic animals are benefited by the
lally rations Of roots in winter when they
mai, the breeding animal and the fatteninr %
animal alike find them grateful. After the
sugar Is extracted the pulp contains all
The plant food furnished by the soil and
Is substantially as valuable as fodder
FOR domestic animals as the beet is before
the sugar Is extracted. The folders of our
rations are nearly all too carbonaceous
Ind require mixtures Of nitrogenous by
products to make them suitable for animal
we have plant that, aside from the sugar
t contains, makes a valuable food for our
domestic animals and Is capable Of sue
,essful cultivation in many Of our states.
It fits into our farm systems conveniently,
because Its planting season Is earlier and
is harvest time later than that of corn,
and-n0t only serves double purpose as an,
animal nutriment. but holds out the liveli-
EST hopes that its adoption will keep at
nome $l000OO,O00 through the value Of its
sugar content alone.''
Dividend Notes
The Standard Gas company Of New York
has declared Its regular quarterly dividend
Df ~ per cent on the common stock, paya-
BILE April /.