Waterbury Democrat., 1902-04-15
EFFECT OF BUDGET
Stock Market Not Affected By
 Its Presentation.
MILlERs RAISE PRICE OF FLOUR


 Prices of Sugar Fell Rapidly-The
 Reading of the Budget Had Been
 Anxiously Awaited-The Govern
 ment Proposes to Borrow 932,O0o,
 900 at Once-The Expense of the
 Boer War Beginning to Tell on Eng
 land.
 London, April 15.-The budget pro- posals presented to the house of com mons yesterday were received fairly well on the stock exchange, where the various departments to-day developed no particular feature, with the excep- tion of drop in consols, on selling preparatory to the issue of the new loan. which operators generally seem to consider will take the form of fresh issue of consols. Operators on the stock exchange continued to be hopeful as to the outcome of the peace conference at Pretoria The British cabinet met at noon to-day. Among other business considered was the re- ply of the Boer leaders to the govern ment's communication, mentioned by A. J. Balfour, the government leader, 1n the house of commons yesterday.
 The Northwestern Association of Millers. at a numerously attended meeting, held in the Liverpool corn exchange today, decided to advance the price of four by shilling a sack. and to add the new duty of five pence per hundred weight. on all four which should have been delivered before to- day
 There was a heavy slump in sugar at Liverpool to-day. Prices fell nine pence to a shilling early in the day, with the prospect of q further de cline, in consequence of there being. no alteration in the sugar duty. Spec nlators had heavily stocked themselves with sugar in anticipation of 2 possi- ble increase in the price.
 LONDON, April 15.-Not for many years had Great Britain's fiscal pro- gramme been awaited with such inter- est as that which att;Ahed to this years announcement, and there is no doubt that all the proposals contained In it will be adopted. It is equally cer- tain that none of these proposals will meet with the unanimous approval of either side of the house.
 More important perhaps than the cu- rious forms of the new taxation is the statement made by Sir Michael Hicks Beach, the chancellor of the exchequer, that the government had acceded to the Boer demand concerning the restocking of farms
 Sir Michael Hicks-Beach, chancellor Of the exchequer, rose at 4:23 o'clock yesterday afternoon in the house of commons. which was crowded in every corner, to make the governments budget statement. He was received with general cheers. He opened his speech by declaring that the year 1901 did not afford any special guidance to the national prosperity.
 Sir Michael announced that the gov ernment proposed to borrow f32 2,0O0,- OOO.
 The governments proposals also in- clude a registration duty on corn and all grain of threepence per hundred weight.
 There will be a penny tax on divi- aend warrants, and stamps on checks will be twopence.
 The income tax Is to be increased a penny in the pound.
 Sir Michael rejected the suggestion for an increase in the duty on cham pagne, because the revenue from this source had fallen off in 1901, and the result would be that spurious wines would be placed on the market.
 The statement showing the revenue and expenditures presented in the house of commons by the chancellor of the exchequer when opening the budg- et announcements showed a total ordinary expenditure for 1902-O3 esti- mated at f129, 159,00O, with war charges amounting to f45, ,450, ,000, mak- Ing grand total of E1T4,6O9, 900, which is f12, ,993, 900 below the total for l901-O2. The chancellor of the ex- ehequer estimated the deficit for the present year at E26, ,S24,OOO.
 To the deficit must be added ZIG, ,O00,. 900 to 917,OO0.0o0 additional war ex- penditures. The grand total of the de- 6cit is G45. 100000.
 The chancellor of the exchequer said he had hopes of happy result from fhe conference in South Africa, but he mad put them aside. Preparations for the continuance of the war were the pest guarantee of peace.
 He estimated the revenue for this gear on the basis of the present taxa fion at f147, ,7S5, ,00O, not including the cost of gratuities at the end of the war, the transporting of troops home. etc.
 News of severe fighting in different sections of the Transvaal at the end of last week has been sent by Lord Kitch- ener, who reports that about POO Boers were killed, wounded or captured. The British casualties were about 100. The British also captured three guns and a considerable quantity of supplies. Com mandant Potgieter was among the Boers. killed.
 The casualty list published last even- mg shows that the Eighth New Zea- land regiment lost thirteen men killed and fifteen injured on April 12 in a railroad accident near Machivie.
 MINISTER SIPIAQUINE KILLED.
 St Petersburg, April 15.-The minis ter of the interior, Nj. Sipiaquine, was f.4o1lxx xror7ndod