The times., 1898-07-04
DOMESTIC TOPICS.

UUMESIlC TUPlUS.
Mutual credit associations among farm
ers which have been conducted in Eu-
rope for more than century. were intro
duced in this hemisphere in British CO.
lumbia, under a law enacted about a
month ago. The plan adopted is similar
to that in vogue abroad, particularly in
the matter of State guarantee OF assoc.a-
ton bonds and in the safeguarding OF
the associations through committees OF
their own, through reports 10 the gov
ernment and through the supervision OF
a government auditor. The aid to be
granted is to be confined TO the improve
ment of real estate. not to its purchase.
Funds for lOaning are 70 be obtained by
the issue by the association OF deben-
ture bonds bearing 10 IL per cent in
terest. principal and interest guaranteed
by the government. which bonds are 10
be sold to the highest bidder. Interest
on loans to members is not TO exceed 8
per cent. & nd the security 10 be considered
is not only assets, real and personal, but
also the industry and the personal worth
OF the borrower. thus making his general
character and standing in the community
part of his general credit. Loans may be
repaid in instalIments. the money so re-
ment on account of bonds that may be
coming due
The number of members in these agri-
cultural credit associations Is 10 be un-
limited but no one member may hold
more than 80 shares. the par value OF
each being SO. and a members holding
TO be propOrtionate to his known ability
to make good in case of emergency An
entrance fee of s. is required. this 70 be
| deposited with the government 10 the
members credit with interest. The fund
so accumulated IS TO be held by the gov
ernment as part security for its indOrse-
ment of the bonds. No amount Of the
shares is necessary TO be paid up They
simply stand as guarantee to the gov
ernment. more in the sense OF a prOmis-
sorry note. that the member will pay the
amount OF the number of the shares sub
scribed in the case of an emergency.
something like premium notes given IN
cooperative insurance companies
Under an act passed BY the Ohio Iegis-
lature last Spring. an experiment with
electric traction on canals IS 10 be made
on the Miami and Erie Canal by trolley
railroad company. The plan proposed is
novel one. II IS to build standard
gauge track on the towpath on which
wIH be run an electric motor, receiving
its power by an overhead trolley The
100 horsepower. and viii. its designer
expects. easily pull tow Os at least five
heavily laden boats. or more tonnage
than a 5g0-hOTsepOwer engine can pull on
rails. there being so much less friction 10
counteract the pulling strength The track
Will be baIlasted to an even surface so as
not TO interfere with the drawing Of boats
| by mules In the event that the expert
ment succeeds the reward of the trolley
/ company Will be the right 70 operate a
/ line Of boats FOR term of years. paying
| TO the State the same tolls as are now
| paid By mule-drawn boats.
/ A mechanical and economical triumph
I reported from Pennsylvania is the daily
/ shipment OF tons OF molten iron by rail-
/ way from the blast furnaces at Duguesne
| 10 the Homestead Steel Works This re-
markable service was instituted on the
/ 1sJ of June and is now an ordinary daily
! routine. The molten iron as it is tapped
from the furnaces runs into an immense
mixing ladIe having a capacity OF -
/ tons. and from this il Is poured into the
/ twenty-ton ladle cars. the fadIes being
/ made Of sheet steel or iron. with a lining
/ of refractory material. The ears are then
/ hauled b. a locomotive 10 the steel
/ works where the direct conversion OF the
molten iron into Open-hearth steel IS
made. avoiding all the expense of cast
! ing the metal INTO pigs ana tOOIll5- nam
/ ding, reIoading, reheating and remeltins
{ the pig metal II is stated in the Iron
/ Age that between 100 and so tons Of iron
are transported daily from the Duquesne
| furnaces in this manner.
! DR. Sheldon Jackson superintendent Of
/ the Government schools Of Alaska, says
| that some of the stories told about the
| fate OF the reindeer herd in that territory
/ are Incorrect II Is true that 312 Of the
] SIS head died at Seattle and Haines. be
! cause of a combination Of circumstances
/ and Government red tape" but ''rle Z26
/ deer that were allowed To reach the moss.
/ distant nifty miles from the coast. are
/ doing we'll. and viii be used next winter
i in carrying the United States mails in
] Alaska" Instead of a scarcity Of moss IN
/ Alaska for the deer, as reported, DR..
/ Jackson says that the pasJurage Is more
abundant than in Lapland or Siberia and
| that the reindeer brought by him
/ TO the Territory some years ago
| thrive better than they did in
/ their native habitat Far from con-
| ure DR.. Jackson looks for important re-
/ suits from it. chief among which is the
| introduction into Alaska as permanent
/ settlers Of over leo Lapps. Films and Nor
/ wegians. skilled in driving and raising
| reindeer. These LappS expect TO have
/ herds of their own as soon as they can
procure them. and then do in Alaska what
| they were brought up TO do in Lapland-
| raise reindeer for the market and trai9
| them for transportation companies