A
CIRCULATION
Average for Quarter Ea-itag
December II. lilt
5 4 5 3
OLCOTT ORDERS GRAND JURY
WEATHER FORECAST
Oregon- Tonight and Tuesday prob
1- rain, "moderate southerly winds.
iocal-No rainfaU; river, n foot,
falling-
PARTY-THIRD YEAR. KO. 58. " ' ' " C 4T Vt Ani-nmi iiAvn i it . ' -
, - uftiuw, mu.xuAi, aiAKUH 8, lVZU. . , PRICE 2 TFICT
PROBE
Effl HELD
if
BYWLLASTAS IN
BANDIT RETREAT
Ine Company Employe, Tak
en Captive During Raid on
Train, Retained on Demand
for 50,009 Ransom
El Paco, Texas, March 8. Joseph
Williams, an employe of the Amer
ican Smelting & Refining company
plant at Pedricena, Mexico, is a cap
tive in the hands of Francisco Villa, (
held for $50,000 ransom, according
to passengers from southern Chic
huahau, who have reached Juares.
Williams, who is an American citizen,
aerved in the world war and suffering
from the effects of German gas, was
returning tothe United States - for
treatment when the northbound Mex
ican City-Juarea train, on which he
was traveling, was held up Thursday
morning last near Corralites, Chihua
hua, 400 miles south of El Paco.
Taken from Train
in a battle between villa's men
and the train guard, ten of the ban
dits and nineteen of the train guard
were slain and the balance of the de
fenders, .fifty in number, either
wounded or driven off. The train
and Pullman car conductors were
among , the dead, the latter being
killed by a shot from Villa's pistoi.
When the fighting ceased the ban
diia herded the passengers to a small
hill near the track where Villa har
angued them end , threatened them
wjth death. Later, 'according to eye
witnesses he broke ' into tears and
told them he would spare their lives
out of respect to the memory of Gen
eral Felipe Angeles, who recently was
executed by the Carranza authorities
at Chihuahua City. ;..
Engine Dynamited
:Williams and an Arabian merch
ant, if. Nassar, were forced to ac
company the bandits when they rode
way, leaving the balance of the pas
Mngeriuaawoned in a desolate coun
try, bereft of their belongings and
many of them without their clothing,
which had been taken by the rob
bers. -
According to R. J. Peltier, an
American citizen, resident of Mexico
City, who was roughly handled and
threatened with death, the bandits
numbered about 300. They stopped
the train by placing a charge ol
dynamite on the track which wrecked
'he engine. i .
Kidnappers Organized
Washington, -March 8. Discovery
ot a "co-operative kidnapping asso
ciation" having for Its purpose "the
Snapping and holding for ransom
of foreigners, preferably Americans,"
is announced by the Mexican foreign
Mice, according to advices today
from Mexico City.
The announcement says this "uni
que company" js made up of Mexi
cans and Americans on the border,
this statement heing basod on reports
from various consular officers. The
'welgn office says the "association"
ao is engaged in "the ignoble task
"eating trouble between the two
ntries." ,,
Acting on the information present
" by the foreign office the war de
partment, according to these advices,
w Issued instructions to the military
commanders in the states of Chihua
hua. Durango, Coahulla. Nuevo Leon
d Tamaulipas to break up the
"Mnaping organization. The govern
ment says It is believed the promot
rlih i the klanaV!ns organization are
renei agents who recently circulated
" Dili advertising the
' reorgan-
a"d announcing
May 5,
coup planned by
FREXOH LOSSES BIG
Paris, it,, . .
f..,. , " c reiirn losses
''cla from the end of January
''nruarv is ,v.i.u
Wbloh Jtla,iA 1
Marash were 15S fenwi 79
"winded iai ,
Th m "iiwsms, accoraing to
ln Temps. Losses of French regu-
"rs and native troops are included I
"wse figures.
y A PIECE OF TABLEWARE
MAY be solid silver without the "sterling" stamp, the
accepted "Hall Mark" of quality. , ,
But you don't know.
A bank might be honest and efficient without govern
ment inspection.
But you don't know.
. A business concern may be absolutely responsible
Without a commercial rating.
But you don't know.
A publication may have the circulation it claims with
out verification by the Audit Bureau of Circulations.
But you don't know. .
BETTER BE SURE! .
., The circulation of the Capital Journal is verified by the
theA.B. C.
Income Tax Provision
Taxing Stock Dividends
Is Held U nconstitional
Washington, Mar. 8. Provisions of
the income tax act of 1916 taxing as
Income stock dividends declared by
corporations out of earnings and prof
its accruing subequent to March 1,
191 J, were held unconstitutional to
day by the supreme court.
Justice Pitney in rendering the
court's opinion said stock dividends
are no more than a "book adlustment"
and do not change the nature, charac
ter, mutual relations or Interest, of
corporation.
The court divided five to fm.r- t..
tices Holmes and Day joining in one
dissenting opinion and Justices Bran
deis and Clarke in another
The court upheld federal court de
crees denying the authority of con
gress to tax stock dividends and award
ing to Myrtle M. Macomber U367
which she had paid .under protest on
CONSTANTINOPLE
ALLIED HANDS UNDER
ARMISTICE TERMS
.Paris, Mar. 8. Constantinople Is
actually ocupted by allied trops un
der provisions of the armistice, it is
pointed out by the Petit Parislen this
morning, which says' that city is head
quarters for General Franchet D'E
perey. and there are in the city one
division and one brigade of French
troops.
In addition there are in Constanti
nople one regiment of Italian and a
battalion of British troops and there
are other British forces in the re
gion of the straits. A British division
is spread Aver Anatolia betwen Scu
tari and Brusa, while the French
have" a division in western Thrace.
the newspaper says. ' v
America Criticized
London, Mar. 8. Commenting up
on unconfirmed reports that British
troops and seasen have actually oc
cupied Constantinople, the London
Times says:
"Cardinal Gibbons, James W. Ge
rard, former American ambasador at
Berlin, and other notable Americans
demand that the Turk be expelled
from Constantinople and that Armen
ia from Ararat to the sea, be given
the fullest autonomy. This manifesta
tion of the best American opinion
will be excedingly welcome to the al
lies but we do not observe that it con
tains any proposal for American as
sistance in carying out the policy
which ia approved. Allied peoples will
not hear of schemes which, involve
the sacrifice of more money and
blood, except for objects which con
strain them in conscience and honor
to attain. They will not fight for con
cessions to communities or tribes. andthreatg gad t0 have been made
international concession numeis
now very active in pians ior cnrvin e(j
up Asiatic Turkey acordlng to tneir
desires."
Arrest Of Former
Kaiser's Cousin
Ordered ByNoske
Berlin, Mar. 8. Gustav Noske,
minister of defense, has ordered the
provisional arrest of Prince Joachim
Albrecht of Prussia, cousin of for
mer Emperor William and Baron
Von Blaten, for engaging in an as
sault upon Captain Roughevin, a
French officer with the inter-allied
mission in this city Saturday night.
Th assault occurred in the din-
In rnnm of the Adlon hotel,
he
prince and his friends hurling can
dles, crockery and other missies at
Pnntnln Roushevln and his party.
i.j t stand while the
woo au iuoi - A
orchestra was playing ."Deutchland
Uber Allies." Captain Roughevin was
beaten and his clothes were torn.
1100 shares of new stock received in
January, 1916, as a stock dividend
from the Standard Oil company of Cal
ifornia, The case was one of a series
in which J P. Morgan, Herbert L. Piatt
and others had questioned the validity
of the act.
Court officials said the case was one
of the most important at this term and
in the determination of the question
involved affects thousands of inves
tors. Under the court's ruling the federal
government must refund millions of
dollars in taxes collected on fltnfk riiv.
idends since the 191 law became ef
fective. Internal bureaus said todav
the exact total of the refunds could
not be estimated at this time and that
it would not be known until all claims
had been filed and computed.
STATE QUESTIONS -DEFENSE
WITNESS1
TESTIMONY TODAY
Montesano, Wash., Mar. 9. Testi
mony of William Spears, Roslyn,
Wash., cpal miner, given last Saturday
as a defense witness in the trial of ten
alleged I. W. W. -for the murder of
Warren O. Grimm, Centralia Armistice
day parade victim, was attacked by
the state 4n rebuttal at the opening of
the seventh week of the trial today,
Spears had testified that he had been
advised by R. H. McGadden, deputy
sheriff of Kittitas county, to not come
to Montesano to testify in the I. W. W.
trial. - ,
To rebut Spears' testimony McFad
den was called by the state. He ve
hemently denied that he had so ad
vised Spears. He said he did not know
Spears had witnessed the Centralia
shootings' until he read it in the papers
last Saturday.
The testimony of John Patterson
also was attacked. Patterson had tes
tified to being close to the hall .at the
time of the tragedy. Today Miss Ruth
Godfrey, 15, a neighbor's child, testi
fied she was in, the Patterson home on
the morning of November 12, and
heard Patterson tell his wife that he
had seen nothing of the affair. J. L.
Pollock, also a neighbor of Patterson,
testified that Patterson had told him
he was a block away from the trouble,
having been compelled to take his
children back home when they became
frightened at the shooting. Pollock de
clared he was not in sympathy with
the I. WV W, . - .
Four defense exhibits, newspapers
containing stories of meetings held at
the Elks club In Centralia. were ruled
out of the evidence today upon motion
of state counsel, court holding that the
connecting link to show that Grimm
had any part in these meeting, or that
these meetings, had not been establish
Firemen Search
Hotel Ruins For
Victims Of Fire
Old Point Comfort, Va., Mar, 8.
Firemen, aided by civilians and sol
diers from Fortress Monroe today be
gan searching the ruins of the Cham
berlin hotel for possible victims of the
fire which last night completely de
stroyed the big structure. Effort lso
was being made to check up the 200
or more guests as well as 170 employ
es. Rumors that two or three persons
had perished were discounted by the
hotel management.
The Chamberlin, probably one of
the best known tourist hotels on the
Atlantic .coast, was located on the gov
ernment reservation. It was seven
stories in height and of frame con
struction. The flames broke out on
,h. trr-minA flnnr And soon were be-
... e,. .
yond control. The loss, including the'
effects of guests, was estimated at
more than 13,000,000.
PHOXE COMPAXt WARNED
AGAIXST BREAKING LEASE
The Paeifip Telephone & Telegraph
company is warned against undue
haste in terminating its lease arrange
ments with the Federal Telegraph com
pany, in letter written by Fred A.
Williams of the Oregon public service
commission.
The present lease arrangements be-1
tween the two companies, Williams
points out, were made when the gov
ernment took over a large part of the
wireless equipment of the Federal com
pany during the war. This equipment
was distributed over the United States
and has not yet been returned so that
any sudden termination of lis lease ar
rangement would tend to disrupt serv
ice by the Federal company.
WILSOHS AGREES
WITH PREMIERS
011MP0IS
Notes on Adratic Situation
Accepts Settlement Propos
al With Resercatiins
Washington," Mar. 8. While ex
pressing satisfaction at the "unaltered
desire of the allied leaders to reach"
an "equitable solution," President
Wilson in his last note to the French
and British premiers accepts with
and Jugo-Slavia themselves be permit
ted to settle the Adriatic dispute.
While the president refused to agree
to a withdrawal of the British-French-
American memorandum of December
9, he indicated his unalterable oddosI-
tion to the execution of the terms of
the treaty of London except insofar as
the Lnited States government "may
be convinced that those term are In
trinsically just and are consistent with
the maintenance of peace and settled
order in southeastern Europe."
Leave Albania, Out-
While he said he would gladly ap
prove a mutual settlement between
Italians and the Jugo-Slavs which
would be prejudice to the interests of
any third nation, the president de
clared he cannot "possibly approve
any plan which assigns to Jugo-Slavia
in the northern districts of Albania ter
ritorial compensation for what she Is
deprived, of elsewhere." Albanian
questions, he further said, should not
be included in the proposed Joint dis
cussions. If Italy and Jugo-Slavia, he said,
prefer to abandon the so-called buffer
state and deslreto limit the proposed
free state to the copus separatum of
Flume, placing the sovereignty in tlu
league of nations, the United States is
willing to leave the determination of
the common frontier to Italy and
Jugo-Slavia.
The text of the president's reply was
made public last night
Text of Note. .
President Wilson's note, to the pre
miers on the Adriatlo ituation follows:
"The president desires to express his
sincere and cordial interest in the re
sponse of the French and British
prime ministers received on February
27. He notes with satisfaction their
unaltered desire to reach an equitable
solution in conformity alike with the
principles of the peace conference and
of the , legitimate though conflicting
aspirations of the Italians and Jugo
slav people. He further welcomes their
expresed intention regarding certain
essential points to 'urge upon the gov
ernments interested that they should
bring their desires dnto line with the
American point of view.'
"The president is surprised, how
ever, that they should find in the
statement of his own willingness to
leave to the Joint agreement of Italy
and Jugo-Slavia the settlement of 'their
common frontiers In the Flume region'
any ground .for suggesting the with
drawal of the Joint memorandum of
December 9." In this he could not pos
sibly Join. The memorandum repre
sents deliberate and distinterested
Judgment atter months of earnest dis
cussion. It constituted more than a
mere exchange of views; it was a Btate
ment of principles and a recapltlua
tlon of the chief points upon whicn
agreement had been reached. I
"There was thus afforded a sum-'
mary review of these points of agree
ment of the French, British and Amer
ican governments and the memoran
dum should remain as It was Intended
to be, the basis of reference represent
ing the combined opinion of these gov
ernments. "In referring to 'the common fron
tier In the Flume region' the president
had In mind the express desire of. the
two Interested governments to aban
don the project of the free state of
Flume as defined in the memorandum
of December 9.
"If, as he understands, the govern
ment of Italy and the government of
the Serb-Croat-Slovene state prefer to
abandon the so-called buffer state con
taining an overwhelming majority of
Jugo-Slavs and desire to limit the pro
posed free state to the corpus separa
tum of Flume, placing the soverignty
in the league of nations without either
Italian or Jugo-Slav control then the
government of the United States is pre
pared to accept this proposal and !
willing under such circumstances' to
leave the determination of the common
frontier to Italy and Jugo-Hlavla. In
this connection the president desires to
reiterate that he would gladly approve
a mutual agreement between the'ltal
ian and Jubo-Slav governments reach
ed without prejudice to the territorial
or other interests of any third nation,
but Albianlan questions should not be
Included In the proposed Joint discus
sion of Italy and Jugo-Slavia and the
president must reaffirm that he cannot
possibly approve any plan which as
signs to Jugo-Slavia in the northern
districts of Albania territorial compen
sation for what she Is deprived of else
where. Concerning the economic out
leu for Jugo-Slavia in the region of
Scutari suggested In the note under
reply, the president desires to refer to
the memorandum of December asi
makins- u ,1,u!i 4 f A nrovlsinna tn ,m.r
the needs of Jugo-Slavia.
London Treaty Ktrnr4.
"Regarding the character and sp-
(Continued on Pag Five.)
PEOPLE WHO
KNtyV HOOVER
Evidence Of The Qualities
That Brought "Bert" To
- The f Front Diseernable
Here.
By Will Carver.
This portion of The Capital Jour
nal's biographical review of Hoovei
from the viewpoint of his Salem resi
dence, will be devoted to a phase of
Bert's life which clearly demonstrates
the unselfish attributes qualifying him
for one of the most Important positions
arising during the wartime emergency.
Eastern writers and others who have
made research into the early life of
the relief administrator have discov
ered an admirable trait diseernable In
the Hoover family. Modesty, and a
desire of self etfacement.
Hoover's relatives are proud of him
and believe there Is absolutely noth
ing within the scope of humyi achieve
ment. that Bert could not do, if he
went after it The family records prove
this. Boyhood tasks, school ambitions,
personal undertakings and public posi
tions of trust; when Hoover said "I
will!" "things started to happen" as
a boyhood chum of Bert's phrases It.
But when the task was accomplished,
there is a refreshing absence of the
"only I could do It" attitude.
Of all public vocations, the newspa
per game is one in which the big "I"
pops up eternally. Someone always
seeking to bask in relected glory. "In
similar instance, the news source is
scant, unless personal mention is
promised." . The task of gathering the
meagre fragments concerning; Hoover.
has been made very pleasant by the
absence of the reporter's Waterloo-
the big "L"
It has developed that among Hoov
er's relations of more humble means
that the biographer encountered this
proposition, without exception. "Let
the world know how Bert has stood by
us an. How he was always willing to
aid any of the younger generation who
desired help lij completing their edu
cation. How he remembered Grandma
MlnUorn during her last days, seeking
to repay her for her early assistance
and encouragement. AH of 'these things
are true. But - don't mention our
names In the articles, as we have no
desire to steal In on Bert's achieve
ments. .
This spirit of humility and unself
ishness is unoommon and well note
worthy for correlation with Hoover's
own record, of never having been a
candidate for public office. . Perhaps
the writer has handled this portion of
the chapter, clumsily, but the truth of
the matter remains that this dominant
fact of the humble Quaker spirit In the
Hoover-Mlnthorn family asserts Itself,
not as a tribute, but as a quality, ,
Information available in Salem, fur
nishes material for many interesting
chapters concerning this word-known
man. The Capital Journal repeats the
invitation for contributions to this col-
umn by any of the older Salem resi
dents who remember Hoover during
his boyhood in this city.
Bolshevik Launch
Attack On Poles
And Finns, Report
London, Mar. 8. Russian soviet
forces have launched attacks against
the Poles and the Finns on the west
ern and northern fronts, according to
aavices received here. In both in
stances, It is said, they have been re
pulsed and the Finns are reported to
have launched a counter attack which
has pierced the red lines.
Polish units holding the line run
ning through the Prlpet marshes south
of Bobruisk are said to have been un
der attack at two points, the soviet
armies advancing on the north and
south sides of the marshes. It Is re
called the Poles last week rejected
overtures for an armistice, pending
peaoe negotiations, holding the bolshe
vik would strengthen their lines dur
ing the time they are protected by the
provisions of the truce. In the mean
time delegates from the Baltic states
are expected to meet at Warsaw next
week to consider the soviet peace
terms.
Death Follows
Refugees Fleeing
From Hardships
Constantinople, Mar. 8.- Death pur
sued 800 refugees who fled from No
vorosslsk on the steamer Navajo at the
approach of Russian soviet forces, ai,.
er many had died of disease, cold ana
starvation. The craft arrived here
wth emanclated and starving passen
gers. Eighteen hours after leaving port,
the vesel, which had been chartered
by the American Red Cross to bring
the fugitives out of southern Russia,
was struck by a blizzard which for two
days prevented the ship from making
headway. Food and coal supplies were
ail consumed. For four days the Nav
ajo drifted In the Black sea while a
hurricane raged.
Typhus then appeared on board and
the refugees saw the bodies of scores
consigned to the waters. At last an
other refugee ship picked up the Nav
ajo. Hundreds of the passengers ar
rived here with hands and feet frozen.
CALL FOR COMPLETE inVESTIGATIOII ;
OFSTATETREASUWSOmCEAaD
IT'S KIVKIKS ISSUED TODAY
Action Follows Charges Of Purchase Of Se
curities At Inflated Value With Funds Of
State Accident Commission By Hoff
From Morris Bros.
Governor Olcott this morning order
ed a grand Jury Investigation of condi
tions In the state treasurer's office and
a, probe of investments made, as a re
sult of charges alleging that State
Treasurer Hoff had purchased que
tionagle securities at Inflated valua
tions with the monies of the segregat
ed accident fund of the state Industrial
accident commission through transac
tions by which the bonding house u
Morris Bros., Inc., of Portland realised
a profit of $50,867.45 in excess of the
customary I per cent broker's commis
sion. The bond purchases were made
by Chief Deputy Treasurer Joseph G.
Richardson, who left Salem for Port
land Saturday and had not returned at
noon.
A probe of the investments made by
State Treasurer Hoff show that during
1919, bonds to the par value of $727,
229.09 were purchased at a cost of
$773,820.78 to the state, a premium of
$48,591.64 being paid, Most of these
bonds, it Is alleged, are not worth par
in the open market, and all of them
were sold by the municipalities issuing
them for less than par. The bonds
were purchased at a price to yield 6U
per cent on the investment.
Attorney General Assists).
Governor Olcott instructed Attorney
General Brown to appear before "a
grand Jury of competent Jurisdiction
for the purpose of managing and con
ducting an inquiry and investigation
into the matter of the purchase of se
curities by the state treasurer's of
flee."
"I desire the scope of this Investiga
tion to e sufficiently wide to cover
nil transactions having to do with the
purchase of securities by the state
treasurer or his assistant," Governor
Olcott s letter to the attorney general
reads, calling particular attention to
(Continued on page six)
YEEG QUARTET ROBS
LOS ANGELS STORE
THRU CLEVER RUSE
Los Angeles, Cat., March 8. Four
men robbed the safe of the Fifth
Street store here last nighf., securing
from $26,000 to $39,000 cash and lib
erty bonds, the exact value of the lat
ter not yet checked.
The men gained entrance to the
tore by rapping for a watchman and
telling him they were detectives irom
an agency which he knew was em
ployed to watch, the store. Once In
ide, they bound and gagged the
watchman. Then they overpowered a
night janitor, blew the safe and
walked out. The robbery was not dis
covered for five hours. , ......
The watchman and Janitor were
found handcuffed to the iron grille
work on the elevator shaft when the
store was finally entered.
The watchman told the police that
the robbers worked three hours on the
big old-fashioned safe and in the mean
while forced him to "ring In" his usual
signals,
He said they then handcuffed him
where he was found and left in an au
tomobile that had been running out
side all the time they worked. When
the signals failed to come In, a man
was sent by the telegraph company to
Investigate, not being able to raise the
watchman, he notified the Merchants
Patrol which forced an entrance to the
store and released the men. Search of
the store disclosed that a sack contain
ing about 75 pounds of pennies had
been taken with the other contents of
the safe but left i the main floor.
The police believed the men aban.
doned because they feared It would at
tract attention when they carried it to
their automobile.
DEMOCRATS ASKED TO S1GW
HOOVER NOMINATING PETITIONS
Petitions have been sent to the Capital Journal office and
can be signed there to place Herbert Hoover's name upon the
primary ballot as a democratic candidate for president.
The fact that Hoover has refused to state his party alleg
iance does not prevent the people of either or both parties
from nominating him against the wishes of the politicians,
and his own wishes. It is a case of the job seeking the man.
Only registered democrats are eligible to sign these
petitions, but if any republican will get out similar petitions
to nominate Hoover, the Capital Journal will render similar
aid in securing signatures.
It is up to the people to beat the politicians to it and name
the next president. If you are a democrat, sign this petition.
If you are a republican, get out a petition of your own.
f-
TREASURER SAYS
1ESTIMI OF
ACTS WELCOISED
Announcement that he will welcome
any investigation that may be made
and his department in connection with,
the purchase of development bonds of
various Oregon projects through Mor
ris Bros., a Portland bonding firm, 0.
P., Hoff, tate treasurer, has issued the
following statement; '
"When I assumed the duties of
state treasurer, it was my Intention so
to conduct that office as to render the
best service possible to the people of
the state of Oregon. Inasmuch as th '
duties of the office require the invest
ment of large sums of money, St wast
my desire to make the fund earn a
reasonable rate of interest basod upon
good securities. To this end a policy
was adopted whereby the state funds)
should earn 6 per cent net, or us
near to the percentage as possible,
while .the prevailing market interest
rate for Oregon municipal bonds at
that time was 5 per cent.
No Firm Excluded ' '
"It was my desire o Invest the funds
at as early a pioment as possible so
that the Interest earnings would b
correspondingly large, AH offering
of bonds were considered, and for th
reason that Morris li withers was In a
position to furnish, Jurga amounts of
bonds without delay it was concluded
to make purchases from this firm, not,
however, to the exclusion iet any other
firm. The purchase of fcoiuls made
were municipal in character and based
upon the securities bf the different
municipalities in the. state of Oregon
and personal obligation of the respec
tive municipalities. The taxes of the
state come from different counties and
for that reason I believed that If se
curities were good, bonds from the dif
ferent cities and counties In the state
should be purchased In order to make
a fairer allotment of the state's fund
throughout the state. '., 4 ,
Loss Held linpuHstlilc.
"No default has ever yet b lea mm9
In the payment of interest or principal
of any of the bonds purchased and aft
er full consideration ut the value of '
the securities and having faith in th
different cities and counties in tlin
state, I feel satisfied that no loss what
soever Is possible to the state of Ore
gon. I well understood my trust char
acter concerning the moneys of the
state entrusted to me as Its official
and in all investments was atildeil
thereby, I never at any time have fur
nished any bonding house or person
money with which to purchase bonds,
but have always purchased, as I be
lleved, from the owner of the bonds.
State Earnings Increase.
"During the past year, with approx
imately the same bank balance as ths
preceding year, I have earned for thj
state $5789 in interest more than in
the preceding year. In spite of the
extensive public improvements requir
ing millions of dollnrs to be handled
by the state treasurer, the active daily
balance In the active depository of tna
state hits been $1116,383.08 as against
$458,357.62 for the preceding year.
During the past two months this active
balance has been reduced to approxi
mately $50,000. Practically all trust
funds, entrusted to the state treasurer,
have yielded greater interest earnings
than in any preceding year.
"In the uiaimguiiietit of my office I
ascertained that full inheritance taxes
had not been paid, and I appointed
deputies to Investigate this matter and
haye collected large sums which other-
1 Continued on Page Six.)