The Birmingham age-herald., 1912-10-13

year. including the balance of Septem- Der so, 1911. For the same period the amount of warrants issued together with outstanding warrants of September 30, 1911, amounted to S3,397. 71S. 3s. or about 53 per cent of the total amount of war rants issued and outstanding.
 "On February 2S. 1911. the receipts, with balance of September 30, 1912, amounted to SS,9oS 522 55. or about COZ per cent of total receipts and balance. On the same day the warrants issued and outstanding amounted to S3S1e. .7aS. .65, or about 5s15 per cent of total warrants is- sued and outstanding. On this date there was In the treasury a balance in ex- cess of outstanding warrants of the amount of sS3, 725. 70. and considering the temporary outstanding loans. the total outstanding claims had been reduced to s16,274. 20. On March 6, 1912 the temporary loan was settled, and at the end of March the first, half of the fiscal year, the amount of outstanding warrants was only in excess of cash in the treasury
 ''On April 6, 1912, another temporary loan of s100,o0o was negotiated On Sep tember 90, 1912. the excess of warrants issued and temporary loan unpaid, over cash in the treasury, was S25l ,S9S .39 In 1911 the proportion of receipts to warrants issued was 100 to 109, approximately, or for every S10,000 receipts were issued ap- proximately slO.9o0 in warrants. In 1912 the proportion of receipts to warrants issued was loo to 202 .9S. or for every s10. GOO receipts were issued s10.2eS in war rants approximately. From this it will be seen that there was an approach to- ward a parity of receipts and disburse- ments.
 During the fiscal year, 1912. the valua- tions of all property for taxes amounted to s541, ,764. 761. There was collected in D6- QoaD -t.~... .411..
 on every GOO property valuation.
 "The assessment of valuation already returned to the auditors office, the col lection of which was commenced on De- tober 1, not including abstracts of as easements made in the counties of Shell by, DeKalb and Coffee, which have not yet been received, and whose valuations are placed at the same as last year, show an increase of valuation of approximately s2i. 500Oo0. Following the proportion above, tax receipts will be increased approx
 imately Sl53,150. It is but reasonable that In the counties named valuations have increased over valuations of last year, which will add to the above increase of
 valuations, and this increase will in all probability be added to by raises of values made, and escapes assessed by state and county tax commissioners.
 "The increased appropriations for schools amounted to over SS0,000 reducing this apparent increase of receipts to about $6S,150 The increase of appropria- tons to the pension fund arising from the special pension tax for the year 1912 over the year 1911 will be about $27,S0O This will still further reduce the apparent excess of receipts to s40,s50. In this con neetion may be considered the appropra- ton of s1O,000 from contingent soldiers appropriation of last year
 "If expenditures are the same as last year, that is If warrants are issued to the same amount as for last year, SC, ,241, = S52. 30, and additional appropriations of sS5 000 to schools and $27300 for pension fund, the total warrants issued would approximately be s6.354 152 30. If the re- ceipts from all sources for the fiscal year are the same as for last year. with the addition of probable receipts from ap- parent increase of valuations as shown by abstracts already sent to the auditor s office amounting to s24,5O0,oOo, increase in valuation on approximately s153,l50 in taxes received the total receipts will be about S6214, 3S6. 50 and the excess of dis bursements over receipts for the year, would be about sl39,765. And this excess
 for the year added to the net outstand- ing claims, or deficit at end of last fiscal year, September 30, 1912, would make the total deficit at end of fiscal year September 30, 1913 about $S91, SIS"