The Birmingham age-herald., 1903-12-11
CASH VERY LOW IN
 THE STATE COFFERS
RutIedge Reports on Condition
 of he Treasury
TOTAL AMOUNT S37O,541.4O
Although Future Financial Situation Does Not Appear Very Bright, This Is Not Considered the
 Low Water Mark.

Montgomery, December 10.-tSpecial.)- )- The treasury of Alabama contains the sum of sS70541. 40. This is according to the count of the money in the treasury made last Monday by experts. This is not the low water mark for on or about December 1 the cash went down to something like $2OS,OOO
 This does not make the future financial situation appear very rosy. While 1t Is true that only similar date, two years ago, the cash balance went below $50,000, it must be remembered that this accu- mutation of s15O00O in two years came about under the 714 mills tax rate while in future the rate can only be 6h mills. As a mater of course the balance about the first of December reaches it's lowest point, as new tax money begins to come at that time.
 It was the intention of Governor Jelks when the legislature met that the con stitutional limitation of the tax rate and the subsequent fixing of the rate at 61a mills would deprive that body of any priv.' ilege of increasing appropriations.
 JeIks Justified.
 The present condition of the treasury would seem to abundantly justify his fears.
 As will be seen, the net increase to the state in two years of about $15OOOO was under the 7ih mills rate. The reduc- ton of the income annually by about $500, GOO on increased appropriations by the 1 legislature of something like $225,000 an- nually is very likely to embarrass the | state. The governor was heard to say when the legislature first adjourned that only Providence smiling on every foot of the way would prevent a deficit before another converting of the legislature three years hence.
 When the legislature met September g. the treasury showed a cash balance of about S1,125,000, and some members of that body seemed to think that it was the next thing to a legislative impossibility to exhaust this balance. Bills payable were apparently not thought of at all. It is not believed at the capital, however that much difficulty will be experienced within the next twelve months, but dam ger to the treasury is likely to come during the next two years
 Detailed Report. Following is the detailed report made b. Examiner Rutledge:
 Sir: In accordance with your instruc- tons I have, with the assistance J. R. Sayre, counted the money in the state treasury and find that at the close O. business on December 5, 19O3 there was in the vault cash to the amount of $37O, O,5414O This amount agrees with the books of the treasurer on the date above named.
 Hon. J. Craig Smith, state treasurer. and his competent and efficient force. have kept the public business of this de- partment in excellent condition.
 Examination was also made of the se- curities held in trust by the treasurer from deposits made by sundry indemnity and insurance companies. The names nd amounts are given below. The said deposits lave been made in compliance with acts of the legislature of Alabama, and accepted at their face vri..e to-wit: By the Georgia Home Ins. Co.,. .$1O, 900 By the U. S. Fidelity and Guaranty
 company. ..-.. .-....... bO,OOO | / the American Bonding Company
 of Baltimore ..... .................. 30, 900 By the American Surety Company
 of New York .,. ..... ............... 50, ,ooo By the Fidelity and Deposit Compa-
 ny of Maryland. .... ,.... .......... 10000 By the National Surety Company of
 New York ........ 50.000 Iolal .............. S2bu, ,UOo
 Respectfully submitted,
 '"T, J. RUTLEDGE, Assistant Examiner Public Accounts"