i
Jk
THE 3X0RNING OBEQONIAy, THURSDAY, JANFABY 1, 1903.
33
FINANCES OF
No Bonds
Liabilities-
SALEM, Or., Dec 3L The financial
affalro of the State of Oregon are
in excellent c6ndltlon. There are
no outstanding bonds, and there are funds
in the treasury sufficient to pay every
warrant that has been issued. This is
the information conveyed by the biennial
report issued by Secretary of State F.
L Dunbar today. The taxpayers of Ore
gon nave no interest-bearing debt, and
conseouentlv everv dollar of niihllo mnn-
ov Is tiRpri in m!ntfl!n!riB- tho niihHr In
stitutions or constructing permanent im
provements.
"The balance of the cash in the general
fund," says the report, "together -with
taxes due from the various counties, is
sufficient to meet the balances of the ap
propriations unexpended. The excess of
assets over liabilities in the general fund
which fund embraces all the revenues
from taxes and sources not applied to
special purposes and from which the or
dinary expenses of the state government
authorized by appropriations are paid
is 51753 17, showing that, in accordance
with the provisions of law, sufficient rev
enue has been raised to provide for the
payment of every appropriation and that
there is neither a deficit nor an unneces
sary surplus.
of State to the LeeislXtlvA AsspmWv
which meets in Salem. January 12. is the
most complete statement of Oregon's
governmental affairs which has ever
been issued from that offlpe. Th dn.
ment contains a comprehensive review
or all the transactions of the Department
or fatate, and also complete statistical ta
mes wnicn nre so arranged that any per
son may easily ascertain what the rev
enue of the state has been, its sources,
and how the money has been expended.
Comparative statistics are given, show
ing the changes which have taken place
in property assessments and the varia
tions in the rate of taxation. The expen
ditures for the "state institutions for a
number of years past, with the average
number of inmates, are set forth so that
the members of the Legislature may see
what the different Institutions have cost
the state. A number of recommenda
tions are made regarding legislation
which may be briefly summarized as fol
lows: IiCgrinlntion Recommended.
The enactment of a corporation tax law.
The enactment of an inheritance tax
law.
That the Secretary of State be relieved
from serving upon state boards.
That surety companies be required to
make a deposit in the state treasury.
That tontine and other swindling invest
ment companies be suppressed.
That laws be passed governing frater
nal insurance companies and societies.
That an emergency fund be made avail
able for use in case of burning of public
buildings, etc
That a uniform system of keeping pub
lic accounts be adopted and that public
records be regularly experted.
That the cost of transporting Insane
and convicts be paid by the counties.
That the old library-room on the third
floor of the Capitol be partitioned so as to
make offices for the Supreme Judges.
That a committee be appointed to re
vise the insurance laws and report to
the Legislative session of 19(6.
That buffet car companies selling liquors
be required to pay a $400 license tax.
That fraternal insurance companies be
required to make reports to the Secretary
of State.
That tho law for the apportionment of
etate taxes be amended so as to remove
a minor defect regarding reports of coun
ty expenses.
That when surplus products of state In
stitutions are sold the money be paid into
the state treasury.
That the appropriation for clerical aid
in the office of the Attorney-General be
discontinued.
That if the scalp bounty law be con
tinued, a biennial appropriation of $100,
000 be made. t
That the appropriation for a State Biolo
gist De discontinued.
That the appropriations for the Boys'
and Girls' Aid Society, the Florence Crit
tenton Home and the Oregon Historical
Society be discontinued.
That as many as possible of the vt ous
special "funds" be discontinued and that
the money be placed in the general fund
and paid therefrom, thus avoiding tying
tip money.
The State Revenue.
The report states that under the law
passed by the last Legislature the coun
ties have been very prompt in making
payments of state taxes when due, and
that there is now delinquent but JSO00,
which is an inconsiderable sum.
"The revenue of the state for the pay
ment of its general expenses authorized
ty existing laws or blennal appropria
tions made by the legislative assembly,
is derived from the annual tax levy,
which constitutes the general fund. To
this fund is also credited the receipts
from insurance licenses and taxes, con
vict labor, sale of books and miscellane
ous sources not set apart for special
purposes."
The necessary expenses of the state for
the year 1901 was $737,699 04, and of this
sum $671,487 78 was raised by taxation.
The total value of taxable property waa
$117,804,874 13, and the rate of levy was 5.7
mills.
The necessarv expenses for 1902 vpw as
certained to be $1,040,653 26, of which sum
$930,000 waa raised "hv tn-rntlnn w'h'rVi -nrnn
at the rate of 6.51 mills upon a total valu-
auon or $141,338,514.
That Oregon's state government does
not require a heavy state tar la shown
by a statement of the average revenue
raised since 1887. As compared with the
figures of the United States census, the
assessed value of property in this .state Is
lees than one-third of the actual value, so
that it will be seen tha., the rate of levy
represents the tax burden as three times
as great as it really is. While the aver
age levy for the last 15 years has been 5.04
mills, the actual burden has been but J.6
mills or even less. The following figures
show the average taxation statistics for
the past 15 years:
Average valuation, 18S7 to 1901,
inclusive $130,164,574 87
Average rate of levy, 1S87 to
1901, inclusive 5.0133 mills
Average revenue raised, 1887
to 1901, inclusive 656.200 39
Highest valuation, 1893 168.0S8.905 00
Lowest valuation, 18S7 84,888,580 00
Highest rate of levy, 1892 7 mills
Lowest rate of levy. 1S94 3 mills
Greatest amount of revenue
raised, 1892 1,121,845 51
Smallest amount of revenue
raised, 18S8 i. 343,573 71
"The revenue raised for 1902 was also
$162,717 more than that raised for the year
1900, the previous corresponding period,
the Increase growing principally out of In
creased appropriations made by the Leg
islative Assembly of 1901 for the Universi
ty of Oregon, State Agricultural College,
Normal schools, National Guard and Sol
diers' Home, and additional appropria
tions for an experiment station, scalp
bounty, care of orphans, . aid of refuge
home, new code and the Pan-American
and Charleston expositions. The growing
tendency to add additional burdens to
those already carried by the state, with
out making any provisions to carry them,
Is evidenced by laws enacted by each suc
ceeding Legislature. Many of the objects
for which appropriations are made might
properly be classed as county expenses
and borne by them. Instead of shifting
the burden on the state. Laws enacted
providing for the payment of salaries of
District Attorneys, providing codes for
county officers, the care of orphans and
the support of aid societies, etc. have re
lieved the counties and added to the state's
Durdens: likewise the payment for the
protection nnd development of various In
dustries and resources of the state, such
as Dairy and Food Commissioner, Game
and Forestry Warden, agricultural societies-
And foreign exhibits. All of which,
aggregating large sums, have Increased
THE STATE
and INo Debts Assets Exceed the
-Treasury's Fine Condition.
SECRETARY OF
F. I. DU.VBAR.
the amount necessary to be raised each
succeeding biennial term.
Indirect Tnxes.
"It seems, therefore, that the most Im
portant question for your attention and
earnest consideration is that of ways and
means. A careful examination should be
made of existing laws, authorizing the In
curring of expenditures, with a view to
decreasing them wherever possible If
you would avoid large and increasing
tax levies, you must look for sources of
revenue, adequate to the Increasing needs
of the state, other than the taxation of
real and personal property. The ques
tion of how to raise revenue for the neces
sary expenses of the state, in a manner
which shall bo fair and Just to every
property-owner, is a most complex and
difficult one. and a question which has
been carefully studied In nearly every
state and by able statesmen.
"An examination of the statutes and re
ports of the different states shows that in
nearly all of them, and chiefly those hav
ing .both wealth and population, a large
and Increasing percentage of their rev
enues Is raised by taxation imposed upon
domestic and foreign corporations, tho
taxation of corporation franchises, the
payment to the state of a portion of the
excise licenses, the taxation of foreign car
companies doing business within the state.
and the taxation of inheritances, legacies,
bequests, etc
Tax on Corporations.
"In my last biennial renort. I unred Ipp--
lslation requiring all corporations organ
ized unaer tne laws of this state and all
foreign corporations doing business with
in this state, organized for th nnrnnsn
of engaging In any business, pursuit, or
occupation lor profit, to pay n. reasonable
fee and tajc, graduated according to the
amourit of capital stock. The number of
corporations organized under our laws
has greatly increased in recent years, and
me amount or business done through
them is ranldlv erowlner. A
part of our commercial, manufacturing
and mining enterprises Is conducted by
and through corporate organizations. Be
cause iney are organized under the laws
of the state, people are often led to be
lieve they are safe to do business with
and are more entitled to credit than nH.
vate partnerships and individuals. In
many cases tney are less worthy of eon-
naence.
"Under exlstinsr laws: whenpvpr
or more persons shall desire to incorpo
rate tnemseives ior the purpose of en
gaging in any lawrui enterprise, busi
ness, pursuit or occupation, it Is
Ided they shall make and subscribe
written articles of incorporation, stating
the name, enterprise, place of business
amount of capital stock and amount of
each share, and file the same In this office
and In the office of the Clerk of the county
where tho enterprise is to be carried on.
Upon making and filing such articles, the
incorporators are authorized to carry Into
effect the object specified in the articles
and become a body corporate.
"The total amount of fees that are now
paid for filing and recording articles of
Incorporation averages $5 for each organi
zation. There is no restriction or require
ment made of foreign corporations trans
acting business in this state, though they
enjoy all the privileges granted domestic
corporations, except insurance and surety
companies, which are required to pay an
annual license and an annual tax upon
their net premiums.
"In most of the states the fees for fil
ing articles of Incorporation vary accord
ing to the amount of capital stock, but it
is sufficient to produce considerable, rev
enue. The minimum fee for organiza
tion of domestic corporations provided
by the States of Indiana, South Dakota,
Washington and West Virginia Is $10; In
California, $15; in Colorado, Delaware,
Maine and Missouri, $20; in Alabama,
Arkansas, Iowa, New Jersey. North Car
oline. Texas, Vermont and Wisconsin, $25;
in Minnesota, Montana and New Hamp
shire, $50; in Connecticut and Rhode Is
land, $100; in Florida the fee is $2 upon
each $1000 of capital stock. Illinois
charges $30 where the capital stock i3
under $2500; $50 where the capital is over
$5000, and $1 for each additional $1000. In
Kansas and Kentucky the fee for organ
ization of a corporation is one-tenth of
1 per cent of the capital stock, and In
Massachusetts and New York one-twentieth
of 1 per cent.
"In addition to the foregoing Incorpora
tion fees, license taxes are exacted by
nearly one-half of the states from cor
porations organized under the laws of
other states. New York Imposes on for
eign corporations a license tax of one
eighth of 1 per cent computed upon the
basis of the capital stock- employed by
the corporation within the state. A num
ber of states Impose the same tax on
foreign corporations as Imposed for the
organization of domestic corporations.
The reports from these states show that
the funds derived from these sources
contribute a considerable part of their
revenue. Foreign corporations, in par
ticular, should bo required to pay a li
cense tax for the privilege of transacting
business in this state. Reciprocal duties
STATE OF OREGON.
should be Imposed upon them by reequlr
ing them to contribute their share to the
support of the state; especially is this
true of those corporations organized in
states which require corporations organ
ized Jn this state to pay fees for doing
business therein. The business of many
corporations is such that they are com
pelled to pay no property tax proportion
ate to the privileges they derive from the
state, and would, therefore, have no rea
son to object to such a law.
"Domestic corporations should be re
quired to pay a graduated incorporation
fee and franchise tax. The amount
should be based upon the amount of cap
ital stock, the minimum not less than
$25. The fees for filing supplemental ar
ticles should likewise be based upon the
amount of Increase, the minimum not less
than $3, similar to the requirements of
sucn states as Maine, New York. Texas,
and West Virginia. tThe annual franchise
tax should also be based upon the amount
of capital, the minimum not less than
$10. At the time of paying the latter tax,
all corporations should be required to file
. a report for the Information of the pub
lic the shareholders and creditors and
those engaged In the transaction of busi
ness with theni, showing date of last
annual meeting, officers and their resl
dence; number of shares of stock sub-
scribed; amount of capital stock paid in
casn, or otnerwlse, and how invested.
Amount Thnt Can Be Raised.
"Articles of Incorporation of S6S corpo
rations organized under the laws of this
Btate for the purpose of engaging In va
rious commercial enterprises were filed In
this office since January 1, 1901 almost 450
each year. An average fee of $50 each
would have produced $22,500 annually,
while an average license tax of $20 on
4000 domestic and foreign corporations
would have produced $50,000.
"I have co-operated in the preparation
of a bill looking to the accomplishment
of the suggestions here noted, which will
be submitted for your consideration, ' the
passage of which I favor. I am not dis
posed to recommend oppressive legisla
tion toward corporations. I believe they
should be treated with fairness and just
ice, being necessary institutions In com
mercial life, and should not be harassed
or persecuted; but required to fulfill
their obligations to the law and to the
people, bearing an equitable share of the
burdens of the Government and keeping
within the proper bounds of their rights
In such a way we hope to see them pros
per and aid In stimulating the enterprise
of our citizens and the progress of the
state.
"The assessment and valuation of the
property of express, telephone, telegraph
sleeping or Pullman car, and transporta
tion car companies, should receive your
careful investigation and attention. Such
corporations doing business within the
state do not contribute to the revenues of
the state in proportion to the market
value of their property, although enjoy
ing all the priviltges. benefits and protec
tion of their property and interests af
forded by the state government Hence
taxes or licenses upon their Intangible
property cannot be regarded as unjust
but rather as an effort to equalize taxa
tion, it is a well-known fact that a large
portion of the railroad trains are made
up of cars not owned by the railroad
companies operating them, but con
t iff ?rf ownby companies foreign
to the state, which contribute no part
to state or county revenues.
"Many of the states require express,
telephone, telegraph and sleeping-car com
panies to pay a-license for transacting
business and a tax upon their gross earn
ings, in lieu of othsr tn-roo
I . - ; .Vw, wc came tu
; uiburance companies are now required to
. do under our pr.esent laws, while other
. states are endeavoring to assess and tax
the property of such companies by pro
J rating the total market value of its shares
, of stock and bonds in the proportion
wnicn the length of mileage or receipts
within the state bears td the total mile
age or entire business of the corporation.
Inheritance Tax.
("An inheritance tax is a source of con
siderable revenue in many of the progres
sive commonwealths. I respectfully renew
ray recommendations to tho last Legis
lature that this state adopt such a sys
tem of taxation. A collateral Inheritance
tax is now Imposed by 27 states, viz: Ar
kansas, California, Colorado, Connecticut
Delaware. Illinois, Iowa, Maine. Maryland,
Massachusetts. Michigan. Minnesota, Mis
souri, Montana. Nebraska, New Jersey,
New York. Ohio. North Carolina, Penn
sylvania Utah Vermont Virginia. Wash
ington. West Virginia and Wisconsin; and
12 of these states, viz.. Colorado, Connecti
cut Illinois. Michigan. Minnesota. Mon
tana, Nebraska, New York, North Caro
lina, Utah, Washington and Wisconsin,
have supplemented this tax with a tax on
direct inheritances.
After quoting various high authorities
to show that an inheritance tax Is not
only constitutional but Just the Secretary
of State continues:
"The State of Washington In 1901 passed
a law relative to taxation t Inheritances,
which provided that all property within
the Jurisdiction of that state and any In
terest therein, whether belonging to an in
habitant of the state or not and whether
tangible or Intangible, which shall pass
by will or by statute of Inheritance of
said stito or any other state, or by deed,
grant or gift to take effect after the
death of the grantor or donor, shall be
subject to a tax after the payment of
debts of .the decedent and expenses of
administration, of 1 per centum on all
sums above the first $10,000, where the
same swill pass to or for the use of
father, mother, husband, wife, lineal de
scendant, adopted child, or lineal de
scendant of an adopted child; 3 psr
centum on all sums not exceeding the
first $50,000, where the estate passes to
collateral heirs to and Including the third
degree of relationship, and 6 per centum
where the estate passes beyond such de
gree or to strangers to the blood:
4& per centum on sums over $50.0CO
and not exceeding $100,000, passing to col
lateral heirs to he third degree, and 9
per centum beyond the third degree. On
all sums over $100,000 6 per centum to the
third degree and 12 per centum beyond
the third degree.
"The State of California In 1893 passca
amact to establish a tax on collateral In
heritances, bequests, and devises, which
provides that all property which shall
pass by will or by Intestate laws from
any person who may die seized or pos
sessed of the same, being a resident of
the rtate, or if not a resident of the state,
which property shall be within the state,
other than to or for the use of father,
mother, husband, wife, brother, sister,
and any nneal descendant, or for the
use of any charitable corporation exempt
by law from taxation, shall be subject to
a tax of $5 on every $100 of the market
value of the property, provided the es
tate shall be valued at more than $500.
The tax Is collected by the court having
probate Jurisdiction and paid to the State
Treasurer.
"I have co-operated In preparing a bill
which will be sutmltted for your consid
eration, and if passed, will no doubt bring
considerable revenue to the state without
Imposing a hardship upon any .class."
ChangcN In Appropriation.
Secretary of State Dunbar makes an
estimate of the necessary expenses of the
state for the years 1903 and 1904. The ap
propriations recommended are the same
as for the preceding two years except as
here mentioned.
Decreases Clerical assistance for the
Attorney-General. $1200 cut off; expenses
of Supreme Court, reduced from $7600 to
$6300 as only $1000 of last appropriation
was used; Improvements at mute school,
$3600 reduced to $1500; improvements at
penitentiary, reduced from $4500 to $1000;
Improvements at Reform School, reduced
from $8500 to $4742; Oregon Historical So
ciety, -$5000. cut off; Boys' and Girls Aid
Society, $6000. cut off; Florence- Critten
den Home. $5C0O, cut off; expenses of
Carltol. $22,000. reduced to $17,000; sup
port of orphans and foundlings, $24,000,
reduced to $5000 as only $5125 was used;
State Biologist, $1000, cut off; public print
ing, reduced from $53,S00 to $50,000.
Increases Asylum, from $2SS,C00 to $324,
000, new buildings at same, $16,450 to $49.
500; transportation of insarie, $27,500 to
$30,000; blind school. $14,000 to $16,000; pen
itcnilary. $54,000 to $87,000; machinery and
buildings for same. $4000; new buildings
for Reform School, $25,000; .bounty on wild
animals, $0,000, ralwd to $100,000. If law
be retained.
As, the last Legislature made several ap
propriations for new buildings and Im
provements at state schools, and for
other purposes not necessary now, the
ordinary appropriations for the ensuing
two years will not be greatly In excess
of those for the last two years.
"By an Set approved February 27. 1901,
(found at page 175 of ihe laws of that
year.) prescribing the method by which
states taxes shall be apportioned among
the several counties, a radical change
was made In the method of apportioning
the revenue required for state purposes.
Tho method previously followed was to
apportion against each county such pro
portion of the total state revenue re
quired as the taxable property of the
county bore to the total taxable property
of the state, as shown by the assessment
rolls of the several counties, or their sum
maries, filed -with the Secretary of State.
"Stated briefly, the present law pro
vides that until January, 1905, the, pro
portion of the state tax to be paid by
each of the several counties shall be ac
cording to a stated per cent, which was
determined by ascertaining the average
valuations In the several counties for
the preceding five years, and the ratio of
each county's valuation was in propor
tion to Its percentage of the total valua
tion. Commencing with January, 1905,
it is provided that the apportionment is
to be based upon the average amount of
expenditures in each county during a
period of five years beginning with 1501.
the proportion being based on the percen
tage of expenditures each county will
bear to the total amount of expenditures
In all the counties of the state. Every
fifth year thereafter a new computation
is to be made, based on an average for
the preceding yearc In other words,
commencing with January, 1903, each
county will pay state taxes in the pro
portion that its expenses bear to the to
tal expenses of all tho counties.
Defect In Present I.nw.
"Examination of the law reveals a de
fect which should be corrected at this
session of the Legislature. Under that
law, the first reports of expenditures re
ceived by this office from the various
county clerks of the state were for the
year 1901, so that when the state officers
meet in January. 1905. to apportion the
state tax for that year, they will have
only the reports of expenditures for the
years 1901, 1902, 1903 and 1904, no report hav
ing been made for the yoar 1900. as
the law was not then in force. It will
thus be seen that the computation can
not be made on the basis cf five years' ex
penditures, as required by the law, as
the statements received at that v.mo will
only cover the four years above Indicated.
"Since the enactment of the law. re
ports of expenses of each county covering
the year 1901 have been filed. A compila
tion of these reports will be found In this
report The following table shows total
expenses for the year 1901 (except for
roads and highways), assessed valuation,
percentage of expenses which each county
bears to the total expense of nil the coun
ties,- ana tne percentage of apportionment
fixed by the act of 1901:
Baker
Benton
Clackamas ..
Clatsop
Columbia ...
Coos
Crook .......
Curry'
Douglas
Gilliam ......
Grant
Harney .
Jackson
Josephine ...
Klamath ....
Lake
Lane.
Lincoln
Linn
Malheur
Marlon
Morrow
Multnomah .
Pollc ..
Sherman ....
Tillamook ..
Umatilla ....
Union .......
Wallowa ....
Wasco ......
Washington
Wheeler ....
Yamhill
Totals
"It will be observed that the nercentarre
of expenses Is materially different from
the percentage baed upon the assessed
Cm SALESROOM AND
Manufacturers and Jobbers of tho
celebrated line of Royal steel ranges.
valuation fixed by law, but as the average
expense for five years Is to be the basis,
the final result cannot be determined even
approximately."
During the last 'two years 14,625 claims
have been presented against the"state. ag
gregating $1,711.911 57. Of this amount
?1,702,3S2 09 was allowed and 14,514 war
:ants were isciued. This shows the mag
nitude of the Secretary's work as audit
ing officer.
Sculp Bounties.
A review Is presented of the scalp
bounty laws enacted In this state offering
a bounty of $2 . each for coyote scalps.
Then the report says:
"Pursuant to the foregoing acts, war
ranto have been Issued to the amount of
$116,56S. which are payable from the
'bounty fund,' and which, with accrued
Interest thereon of $9,541 29, make a tptal
liability of the 'bounty fund' of $12C,109 29.
To the payment of this amount Is applied
the sum of $117.S04 S9; the proceeds of the
one-mill special levy provided by the act
of January 20, 1901, and interest . on de
ferred payments of $359 61, a total of $11S,
CG4 4S. leaving a halance unprovided for of
the 'bounty fund'' of $7714 81. The sum
of J50.0CO appropriated by the Legislature
of 1901 to repay the counties two-thirds
of the amounts of warrants Issued by
them pursuant to the provisions of the act
of February 26, 1901, was barely sufficient
to pay claims for more than one year,
Instead of two years as contemplated at
the time the appropriation was made.
The appropriation being exhausted May
19. 1902, since said date 'certificates of
auditing and allowing claim have been
Issued In conformity with the provisions
of the act of February 27, 1901. to the
amount of $29,541 SO, making the total
amount of claims audited and allowed to
September 30, 1902, $79,539 96. pursuant to
the provisions of the act of February 26,
1901. To this sum should be added an
amount to cover such claims as are likely
to be presented tq the end of the fiscal
year; but, as some of the County Courts
have Instructed the County Clerks not to
lssuo warrants in payment of scalp
bounties since ihe appropriation made by
the state for the repayment to the coun
ties of two-thirds of the amount has be
come exhausted, I have estimated the
amount at a- much smaller sum than would
have been required . had no such action
been taken by some of the County Courts
whatever authority they may have for
such action placing" the amount required
at $10.45S 70. which will maFfe the total
expenditures for scalp bounties from Feb
ruary IS. 1S99. to December 31, 1902, reach
the sum of $2J6.107 95.
""To provide for the payment of out
standing warrants, and Interest, on ' the
'bounty fund an appropriation of $7,741 Si
should be made; to provide for the pay
ment of the claims of the several counties
for two-thirds of the warrants Issued in
payment of bounties to December 31. 1902.
an estimated appropriation of $39,998 69
should be made. If the law is continued
In force as it stands at present, Iestl
mate an appropriation of $100,000 will be
necessary to cover the claims which will
be presented during the years 1903 and
1904."
That the scalp bounty business ls rap
Idly increasinir. though large numbers of
coyotes are being killed, is shown by the
following statement of the numbers of
scalps presented- during each six months
since the bounty was created:
Six months ending June SO. 1S99 2,160
Six months ending Dec. 31, 1S99...... 14.682
Six months ending June 30, 19GO 22.616
Six months ending Dec. 31, 1900 10.517
Six months ending June 30. 1901 21,719
Six moriths ending Dec. 31. 1S01 12.950
Six months ending June 0. 1902 20.S54
Total for .42 months 115,498
Stnte Prlntlnjc.
"The amount expended for printing and
binding, and the purchase of paper, shows
a continuing decrease, which la very
marked when compared with the sum ex
pended during the years 1893 and 1894, the
appropriation for that porlod being $60,000.
and the deficiencies $23,756 09, a total ex
penditure of $33,756 09. Thls decrease is
due largely to the amendments passed by
the last Legislature, reducing the number
of copies of laws. Journals and reports re
quired to be printed, and discontinuing
the useless reports formerly printed for
the state and district agricultural socie
ties; nnd further to the fact that claims
for printing and binding for the state In
stitutions, boards and commissions are
paid frpm their respective appropriations
3
S -
5 2.
P oS"
os . '"3
. H a
. 2 53
bSo
. 55-
:
: pjxo
. a 1 1
rj
31 -3 a
P -tC
-3
"OS
10 3
: o
: 3
" p
: 0-3
- 1
.0195
.0202
.0335
.0212
.0106
.0203
.0130
.0010
.0345
.O0S7
.0092
.0160
.0314
.0090
.0115
.0107
.0162
.0055
.0526
.0094
.0613
.0095
.3123
.0307
.0087
.0037'
.0490
.0262
;0073
.0234
.0301.
.0057
.0391,
Q 2'
an
-'
- s
: 5.3-
3Z.432 23
20.902 5S
69.533 55
37.993 23
12.807 19
20.018 40
17.17S 45
5.676 14
37,172 59
13.030 12
23,965 02"
21.263 22
27.366 57
16.722 S4
15.237 41
16.6S5 49
39.921 98
12,913 63
31,304 45
19,000 94
44.735 49
14.102 86
-253.S22 50
20.137 67
12.564 63
14.536 30
46,652 29
36.740 01
12.1SS 46
28.2SS 13
23.213 63
19.0S7 01
27.390 83
$ 3,523,340 00
2,3SS.20S 00
. 4.477.4S3 00
2.92S.067 00
1.517.S45 00
2.766.535 00
1;790.3SS 00
516,072 00
4,206.147 16
1.099,745 00
1.701.902 50
2.199.015 00
4,130.719 66
1,29.030 00
2.299.169-00
1.533.3S4 00
5,700.853 00
729.927 00
6.773.040 00
1,456.860 00
8,314,636 00
1.452,014 00
4S.195.6C2 00
3.769.943 00
1.506.504 00
1.440.1S5 00
o.6S5924 64
3.375.249 00
1.3S6.120 00
4.077.405 00
3.46S.9S6 00
95i,521 00
4.731.634 00
.0356
.0199
.0662
.0362
.0122
.0192
.0164
.0054
.0351
.0124
.022S
.0202
.0260
.0159
.0145
.0159
.03S0
.0123
.0293
01S1
.0426
.0134
.2418
019S
.0119
.0133
.0444
.0350
.0116 I
.0269
.0221
.01S2
.0261
$1.049.583 84 $141.398,513 95
1.0000 I 1.0000
or iunas ior ineir general maintenance or
expenses."
The expenditures from the $50,000 print
MAIN OFFICES OF THE LOEWENBERG Jfe GOING C6MPAXY.
largest variety of stoves and ranges on the Pacific Coast and builders of the
lng appropriation up to September 30 was
as follows:
Printing $26,767 09
Binding 6.914 53
Paper 3.509 78
Printing expert 496 00
Total $37.6S7 40
The appropriation of $50,000 will cover all
expenditures.
Swindling; Concerns.
"A number of Investment, tontine in
vestment. Homebuilding and similar com
panies or associations organized outside
of this "state are now and have been In
the past doing business here, and have
secured alarge number of members. Many
of the y;hemes are impracticable and the
concerns are organized for the purposes of
delusion and swindle. Several have col
lapsed entirely or failed, while others have
been placed in the hands of receivers by
the courts of other states. The investors
or members In this state In such cases
have lost what they paid In. which they
can HI afford to do, as they are usually !
persons of limited means, who ay endeav- '
oring to accumulate a competency oy in
vesting their small savings.
"All companies organized under the laws
of this or any other state, doing a mutual
investment business, should be required to
submit to the Attorney-General their ar
ticles of Incorporation, by-laws and forms
of contracts, for his investigation. If
found to be legal and practicable, they
should obtain a license before being per
mitted to do business in this state. They
should also be required to deposit some
part of their securities with some state
officer or trust company in trust for their
members or Investors residing In Oregon.
FrnternnI Insurance Societies.
"The recommendations made in the last
biennial report relative to fraternal life
.insurance societies are respectfully re
newed. A reasonable law should be en
acted governing all fraternal Insurance or
ders or societies. Such a law would not
only protect our citizens, but also those
orders which are ably and honestly man
aged. Many advocates of this system of
Insurance favor not only state supervision,
but urge the establishment of rates based
upon scientific mortuary tables. ' Several
bills were Introduced In the last Legis
lative Assembly, though no further action
was taken. The organization of a great
number of fraternal Insurance societies
and the growth of this character of insur
ance more than ever empharizes the need
of wise legislation on this subject.
Uniform System of Accounts.
'The need of a uniform system of keep
ing the accounts of the officers of the
various counties of the state has long
been recognized by those who nave given
time and thought to the Investigation of
economic questions. Under our present
arrangement each county is a 'law unto
itself on this very important suDject,
with the result that no two counties of
the state follow the same method of ac-
counting, but each adopts a system of Its
own, which is often widely different and
sometimes entirely at variance with the
systems In force In other counties. i
'A uniform system 01 accounting woum
not, however, be self-operative. Mistakes
and Irregularities cannot be entirely pre
vented by any mere system. They can
only be avoided by periodical "examina
tions of tne dooks Dy some competent ana
qualified person who has the necessary
authority to make such examination and
to see that the books and accounts are
kept as required by law. An examiner
The Kind Ton Have Always
in i se for over 30 years,
All Counterfeits, Imitations and " Just-as-good" are bat
Experiments that trifle with and endanger the health of
Infants and Chiitlren Experience against Experiment,
What ss CASTOR I A
Castoria is a harmless substitute for Castor Oil, Pare
goric, Drops and Soothing Syrups. It is Pleasant. Ifc
contains neither Opium, Morphine nor other Xarcotio
substance. Its age is its guarantee. It destroys "Worms
and allays Feverishness. It cures Diarrhoea and Wind
Colic. It relieves Teething Troubles, cures Constipation
and Flatulency. It assimilates the Food, regulates the
Stomach and Bowels, giving healthy and natural sleep.
The Children's Panacea The Mother's Friend,
GENUINE CASTORIA ALWAYS
S7
Bears the
The Kind Ton Heyg Always
in Use For Over 30 Years.
TMC CCHTAUK COMMNV, TT MUnRAV STBKCT. NCW YORK CrTT.
of public accounts could be elected or ap
pointed, whose duty it would be to advise
and Instruct all public officers in regard
to the proper manner of keeping their ac
counts, and to make periodical' exam--Inatlons
as to their correctness, and to
verify the amount of public funds on.
hand with the accounts."
Gains to St. LonlsT
If so, better learn about the new servlta
inaugurated by the O. R, & N. via Den
ver and Kansas City. Inquire city ticket
office. Third and Washington.
Fully Ripe
Made from the choicest of selected
Rye, and distilled under every pre
caution, insuring the highest nutri
ent quality.
Hunter
Baltimore
Rye
Undergoes thor
ough aging be
fore It i.s sold,
and in this state
of fullest devel
opment it Is the
perfection of Rye
Whisky.
It Is particularly
recemmended to
women, because
of Its age and ex
cellence. ROTHCHILD BROS.,
Portland, Or.
FOR GOLFERS
SPORTSMEN ti ALL WHO
TRAVEl MUCH SUSTE
NANCE IN LITTLE BULK
BougM, and which, lias been
lias borne the signature of
i - and lias been made under bis per
J? , sonal supervision since its infancy.
Signature of
Bought