The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-02

cent on the first mortgage bonds none OF
which are to he sold below par the nro
ton and equipment OF the roads, and any
sums paid by the government under the
guaranty 10 constitute a lien upon the
railroad and its equipment The franchises
are perpetual and rates OF taxation are
fixed at "a of per cent OF the gross earn
ings for thirty years. Ia per cent for fifty
years, and thereafter to be fixed by the
government. The grantees bind themselves
in the cOnceSsiOnary contract to begin
construction within q certain period and
to complete a specific number of miles
OF railway within a given length of time
on plans to be approved by the governor
general. The chamber OF commerce of
Manila. on learning the full text of the
concessions, unanimously passed a resolu-
tion thanking the commission for the in
terest displayed.
Manila Harbor.
In the aggregate the Philippine commits
sion report to have expended about $4.-
100000 in the Improvement of the harbor
Of Manila and state that it is now safe
against typhoons and probably the best in
the orient. Seventy-eight per cent of the
total final area of the harbor has been
dredged to a depth of thirty feet, and the
detached breakwater Is completed has
stood admirably and is fulfilling its pur-
pose. Contracts have been awarded for
two steel and concrete wharves TO be built
by the insular government, one 600x70
sheds over them, and plans are now be
ing prepared for an adequate system Of
approaches to the wherves by roadways
railways and otherwise. so as to enable
merchants to handle their goods IN the
most economical manner.
When completed these should have a
very marked effect upon the carrying
trade Of the Philippine islands. The mill
tary authorities have just completed 500
foot wharf sixty feet wide, and on the
18th of September the Logan was laid
alongside of this wharf, which marks the
beginning of a new era in the history Of
the Philippine Islands, this is the first
large trans-Pacific liner TO lie beside a
wharf in. the islands.
Friar Lands.
With the final payment on account Of
friar land purchases in October, 1905. there
passed into the possession of the insular
government approximately 4oOVo acres of
agricultural land formerly belonging to
the religious orders, and nearly ope-fifth
of the same has been leased largely to
former tenants). from which a sufficient
income is derived to pay nearly half the
interest on the purchase bonds. The rent
ais in most cases are lower than those
paid to the friarS. but If a fair proportion
of each estate could be leased on similar
terms the income would he sufficient to
pay the interest upon the bonds and the
cost of administration
In fixing these rentals the first object
has necessarily been to obtain the at
have largely executed leases and many
have indicated their intention of making
purchases. These lands will be sold at
prices only such as 10 compensate the
government for money invested. so far as
il can be ascertained, and favorable terms
OF payment will be given to purchasers.
There is every reason to believe that the
present occupants will end their leases by
becoming purchasers and cOntented land
owners, instead of Disconnected and re-
pudiating tenants, with constant danger
of disaffection and instruction which
would have followed any attempt on the
part of the friars' orders to again assert
their titles to these lands and collect
rentals therefrom.
Postal Savings Bank.
During the year an act has been passed
by the Philippine commission establishing
a postal savings bank to be administered
under the bureau of posts with authority
TO establish branches in every postoffice
throughout the archipelago Many Of the
people of the islands are thrifty, but in
ability to properly invest or secure their
earnings in manner to make them yield
an income discouragcs thrift, and prac-
tically the only means Of saving hereto
fore in the provinces has been by burying
money in the ground. which practice
made a serious loss to the community. as
the use of the money is urgently needed