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fitted FINANCES OF STATES. MOST OF THEM ARE NOT DEEPLY EM BARRASSED. Information Obtained Directly From State Treasurer*—The West and South Have Felt tlte Financial Strain Most—An Inter esting and Suggestive Computation. [Special Correspondence.] WASHINGTON', Feb. -'0.—Although the na tional government has been forced by hard times to issue a loan of $50,000,000 and i? still stared in the face by a probably large deficit, tlie individual states are mainly in good fiuancial condition. The 10 or 15 years of prosperity that, preceded the present de pression enabled those states that were deeply iu debt to pay in part and nearly all to reduce the rate of interest. It thus happens that many of the states approached the panic of last year with com paratively small debts at low rates of inter est and with a handsome cash balance in the treasury. This year will sweep away many of these balances, but the return of prosperity will not find the individual states deeply embarrassed. The western and southern states, which have felt the strain more severely than the New England and the middle Atlantic states, are able to report a fair financial condition. California has usually escaped tme worst results of panics. She had on the 1st of February, 1894, more than t3,850,00(J in her treasury, and her debt was a little less than $2,230,000 at 0 per cent, a mod erate rate of interest on the Pacific coast when the debt was contracted. California's neighbor, the fading state of Nevada, be gan the last fiscal year with #400,000 in her treasury, and she carried most of it to the opening of the current fiscal year. Her bal ance at the opening of the year was nearh as much as lier total expenditures for the year before. Her bonded debt is $569,000, mostly at 5 per cent, and the state holds for the benefit of several public funds over #1,000,000 in her own and United States bonds. Oregon has no bonded debt, and her float ing debt of $125,000 is in treasury warrants, to be redeemed as this year's taxes come in. If all can be collected, which is un likely, the revenue for the year will be $725,000. Meanwhile, because of slowness in collection, the treasury is low. Few states, however, are better equipped to meet hard times. Most of the new far western states have started the world well from a fiuancial point of view. Montana has no bonded debt, and her floating debt is only $25,000 She has $00,000 in the treasury for general purposes aud $128,000 to the credit of sev eral public funds. Her annual income is $450,^00, aud her condition seems as whole some as that, of any state, old or new. Wy oming has a bonded debt of only $320,000 at 0 per cent, an income of over #212,000, and early iu the present year she had nearly £200.000in the treasury. North Dakota is not so fortunate, being without cash in the treasury save #180,000 pledged to several funds, aud having a debt of $800,000 at 5 per ceut. Her annual income, however, is nearly equal to her whole bonded debt, and she has already a handsome school fund that will one day ex ceed $20,000,000 in value. "Washington also lias an empty treasury, but her bonded debt is low, only $300,000 at the low rate of 3y, per cent. Her floating debt is $840,000 in war rants issued in anticipation of revenue, and taxes are coming in slowly. She has ap propriated nearly $2,000,000 on the fiscal term of two years ending March 31, 1S05. The credit of the state has been and is ex cellent. Of the territories, Utah and New Mexico, each ambitious of statehood, have consid erable debts, and the former has long been struggling with an annual deficiency of over $740,000. I ler bonded debt is $700,000, at 5 per cent. New Mexico is over $900,000, at about per cent on the average, ami her floating debt is $fi60,000. She began the present year with $142,000 in the treasury. Kansas is a sample state of the middle west, where stagnation seems to have done its worst, but Kansas seems in good finan cial condition so far as the state govern ment is concerned. She had on Jan. 20, 1894, nearly $1,000,000 in the treasury, with no floating debt, and a bonded debt of about $2. *00,000. mostly at 7 per cent. Her neigh bor, Iowa, has no debt, funded or floating, $152,000 in the treasury and an income of $850,000. Missouri has a heavy debt of f*i, 430.00, mostly at 31. percent. She is also indebted to her seminary and school fund to the amount of nearly §4,440,000, at 5 and 0 per cent. Her constitution requires, how ever, that she pay off at least $230,000of her bonds per annum, and the present rate of taxation will enable her to pay from *300.000 to $400,000 per annum. There was iu the state treasury on .fan. 24 over #1.000,000. Kentucky is one of the most fortunate of the southwestern states. Her debt of $075, 000 is mo-tiy jit. 4 per cent, and her sinking fund exceeds the debt $50,000, while her treasury balance Jan. 1 was $550,000. Ohio is in a like happy condition. Her entire debt ill $1 S'lO.ooo will be paid by July 1, 1000. It iat 3 percent. She has no floating debt and a cash balance in the treasury of more than $000,000, Indianaliegan the year with more than $1,000,000 in the treasury and no floating debt, iler bonded debt is $8,500.0011 at3^ percent. Michigan is with out debt of any sort. Out her treasury is low, partly because of bad times, but chief ly because she is near the end of her tax year. New Hampshire is distinguished among the New England srates for a financial sys tem that makes her a borrower for six months of the year. Of the other states Vermont lias a debt, of less than $200,00O and a little balance of in the treas ury. Connecticut legan her fiscal year witb $1.000,000 in the treasury, ami Maine had on band Jan. I, 1MM. $335,(X)0. Kach has a moderate debt, at extremely low rates of intetest. New York has a cash balance of over $1, 270,000 and proportionately oneof the.small est of state debts. Pennsylvania's net debt is $2,400.000at I |er cent, and her balancein the treasury at the close oft tie last year was more than 5,MK).00t». Delaware's assets are nearly $200,000 iu excess of her liabilities, and she has a treas ury Iwilanceof $i ».50O, with no floating debt. Although three or four southern states, notably Virginia, North and South Caro lina and Louisiana, are still struggling wi der what they have not repudiated of their debts, going back to the reconstruction period, the financial condition of the south ern state governments is, on the whole, good. Maryland began the year with near ly $510,(XX) in her treasury and a net debt of $2,660,000. It will be cleared off in 1901. Georgia and Florida, among far southern states, have each enough cash in hand to meet *11 appropriations. The former baa a debt of $8,150,W0, at an average rate of 4% per cent.. The latter has a funded debt of ,000. at tS per cent, and a floating de',f •V magna $100,000. Georgia has an income of $3,000, 000 and Florida of $800,000. E. N. VALLANMUllAM. AN EXEMPLARY LIFE. THE UNBOUNDED GENEROSITY OF A MODEST MILLIONAIRE. Gift of William It. Webb to Indigent Ship builders—A Free School of Ksval Archi tecture For Worthy Hoys—A Magnificent Structure and a Noble Gift. [Special Correspondence.] NEW YORK, Feb. 26.—Philanthropy has not by any means kept pace with the enor mous and rapid increase of wealth in this country, but rich men of benevolent natures are learning the lesson taught by George Peabody and Peter Cooper—that it can be best promoted by placing it on a business basis. A practical view of the subject shows that posthumous philanthropy has evils that can be avoided only by a man's live interest and personal promotion of his benign objects. It is while he is in the flesh that his ideas can best be carried out and his commands obeyed, and it is this view that now animates the deeds of many of Peabody's and Cooper's emulators. When those philanthropists lived, mil lionaires were rare, multimillionaires al most unknown, undreamed of, but today WILLIAM HEXRT WEBB. one may live next door to a man possessing millions without suspecting it. A philan thropic millionaire may exist whose monu ment in the shape of some enormously en dowed charity confronts the passerby daily and the world know almost nothing of his good deeds. Of this class is a man reputed to be worth $25,000,000. Fame has not shouted his name abroad, nor does the world know him. yet he has been a great shipbuilder—one of the greatest for 40 years —and has lived to see erected at a cost of $500,000 and with an endowment of $2,000, 000 a home for aged and impoverished ship builders that will keep his name forever green. This man is William Henry Webb, and he lives at 415 Fifth avenue, in this city. He made his fortune of $25,000,000 building more than 150 vessels, from the ironclad to the clipper, in the famous old shipyards on the East river, between Sixth and Seventh streets. Mr. Webb is 78 years of age, but looks 60. Rather slightly modeled, his figure is of medium height, surmounted by a head typical of the old fashioned American mer chant and man of affairs. His face is kind ly and serene, wearing the air of calm re pose that betokens a clear life, and lights up easily into good humored smiles. His silver gray hair encircles his face like a halo, aud his eyes beam softly behind gold rimmed glasses. He is averse to notoriety and dreads praise more than most men fear criticism or censure, yet it is impossible to build $2, 500,000 homes without incurring both fame and praise. When he was 15 years of age, he asked his father to let him go to work in his ship yards. He prevailed over parental objec tion and for six years never missed a day except to go to Boston to see the navy yard for a week. He learned what hard work was and had to study drafting at night by candlelight, and in 1839 his health broke down. Then he went to Europe, returning to find his father a bankrupt. But he went into the same business with his father's partner and built more ships than any man who had ever—until lately—been in the busi ness. He built the General Admirable for Rus sia, the largest warship in the world at the time. She was to be a model for the Rus sian navy and revolutionized shipbuilding the world over. Reputation came to Mr. Webb from the building of this ship, and success and wealth were assured. He built for Spain and then made ironclads for Italy, men-of-war for France, fishing smacks for Newfoundland, privateers for Spain and gunboats for our navy during the war. He constructed the very last, ship built in New York—the Charles H. Marshall—iu 18G8. His big contract with Spain for building a warship was canceled at the outbreak of the rebellion by Preston, the Confederate representative^ Madrid,who impressed the Spanish government that thoy were wast ing their money by employing a northern er. He was then engaged by the nited States government to build ships and had almost completed the Dunderburg when the war ended. He refunded the $1,025,000 which had already been paid to him by the government and sold the vessel to France. She was one of the finest vessels ever built in this country, and in a museum in Paris Mr. Webb found a beautiful steel model of her which had cost $1,000 to build. This he purchased, and it now occupies a position of honor in the home. Connected with the home and under its roof is an academy wherein American boys between the ages of 16 and 20 receive free of charge their board and tuition in the vari ous forms of naval architecture. They will be taught to draft and put together ships and engines. But they must first prove that they are unable to pay and must have a rudimentary education in mathematics. Twenty-five or thirty boys can be accommo dated and each have a room nicely fur3 nished. There are very pretty rooms furnished in sets of birdseye maple for over 100 old ship makers, and their wives may live with them. Everything for their comfort and amusement has been selected with a care and solicitude that show how thoroughly Mr. Webb's heart is in the undertaking. There are two libraries. One contains books on all subjects, but principally his torical. The ot her, adjoining a museum of models of all sorts of ships' hulls, has books treating only of marine subjects and is chiefly for lie use of the »tudents. There are splendid arrangements for fucilitatiug the process of photography. The large sunny hospital is perfect in all its details. There arebath.i galore in tliu building, and, in fact, it would seeui impossible to find a fault. From an architectural standpoint the academy and home is a most imposing edi lice, and its location is admirable. Sur rounded by 14 acres, it is situated upon the highest bluff at Fordham heights and com mands a wonderful view of the surround ing country, overlooking as it does the pic turesque Harlem river and to the west the banks of the Hudson, while in the east the waters of Long Island sound can be seen. It is of buff brick, terra cotta trimmings and granite base. It is 160 feet long by 80 in width, four stories in height in the cen tral portion and six at the north end. At the northwest corner a tower rises 10 sto ries, or 170 feet, and represents the shaft and lantern of a lighthouse, while that at the southwest end is seven stories in height. In this latter tower there is a splendidly equipped smoking room for the old men. It is pleasing in these days of arrogant displays of wealth and the murmuring un dertones of socialistic complaiuts and threatenings to contemplate the deeds aud benign ambition of a man like this. Plain, unaffected and hearty, his philanthropy takes such a practical, wholesome and ear nest shape that it bridges over the constant ly increasing gulf between wealth and want and makes one more hopeful of man kind. It is not too much to express a wish that, now he has seen his hope realized, he may live to enjoy the sight of the practical working of his home for a full score more of years. L. D. MATLASD. SHORT STORIES. New Writer* Being Trained by Discipline and Development. [Special Correspondence.] NEW YORK, Feb. 36.—A few months ago a periodical published in one of the eastern cities offered as prizes considerable sums of money for those persons to whom should be awarded the merit of having written the best short stories submitted in competition to the editor of that magazine. The sum fixed upon as a prize for that one of the sto ries regarded as only third best was larger than even the masters in the art of short story writing can command, and the sum to be awarded as a first prize was greater with perhaps two exceptions than had ever been promised as a reward for chief merit in such competition. Therefore the money tempta tions were a sufficient inducement to lead even the most distinguished of those tnen and women who have facility in the writing of short stories. Within a few weeks after the announce ment was made the mails that came to the office of this publication were loaded dowu with manuscript. A number of tales were sent so speedily after the announcement was made that it was evident their authors had not written any new tale to enter into this competition, but had taken stories which they had already written. But the majority of the stories bore evidence of re cent composition. When the day which was set as the limit of time for receiving the stories came, it was found that more than 1,500 manuscripts had been forwarded to the editor. They came from all parts of the United States, a few from Canada. Some of them were iu exquisite writing as clear as script, plainly the work of pro fessional copyists. Some of them were neatly tied together by ribbons. Nearly all of them, however, were in typewritten man uscript, and all of them indicated that the writers had familiarity with the rules which editors insist upon in the making of manuscript. A few of them were packed in thin wooden boxes, and one was written upon scented paper, and, strange as it may appear, this is one of the best of those of fered in competition. The work of examining these manuscripts entailed a labor upon a few men perhaps quite as great as the aggregate labor be stowed iu the writing of them. There were a few whose imperfections were revealed at a single glance and were plainly the work of persona who had no conception of literary form or capacity for telling a story, and yet in almost every case these worthless specimens were accompanied by pleading and explanatory letters, as though a good story did not sufficiently explain itself. After several weeks of diligence, entail ing labor that extended far into the night, there were sifted out of this great number of stories 12 which were regarded as worthy of publication, and then perhaps the hard est work of all began, the selection from these 12 of the three entitled to the money prizes. It might be supposed, the pecuniary re wards being so great in the case of the first prize, $1,000, that some of the famous authors would have been induced to send in their stories, but in the list there was not the name of a single person who had won any recognition for such literary work. This is probably due to two reasons. One, the famous writers of short stories are able to command a market for anything they write, some of them at their own figures. Mr. Kipling, Mr. Howells, Miss Witkins, Mr. Harry Edwards, Mr. Hibbard and Mr. Gilbert Parker find no difficulty in selling their short tales. In fact, the difficulty with them is to meet the applications made by publishers for such products of their pen. Then another reason is the repugnance which persons who have commanded a rep utation have to entering into competition, at least using their own names. Some times this has been done by the use of a nom de plume, and there is one interesting anecdote that is told in literary circles of the mortification which one distinguished writer experienced in a contest of this kind. A periodical had offered a prize of $5,000 for a short continued story. The sum was so great that a very large number of tales was submitted. The prize went to a com paratively unknown writer, while a distin guished writer of short stories who had submitted one anonymously was humili ated when he discovered that bis tale had received not even ope of the minor awards. It is a curious fact, however, that with two or three exceptions those who have competed in prize story contests with success seem to have been uuable to main tain the victories thus won. The writer of short stories whose nom de plume is "Q" did, as an unknown, win a prize in one of these contests, and from that success he has gone on until now he is recognized as one of the most brilliant of short story writers of Great Britain. But in the score or more of contests under the direction of the editors of some of the responsible peri odicals of America there has been no case in which the winner of a prize maintained afterward the repute thus gained. Miss Ella Fariuan, as she then was, now Mrs. Pratt, won a prize in contest of that sort, aud »be al'teru anl became the editor of a children's periodical, but there lias l«-en u» story from her pen which compare* »%iw. the one which gained her that \iciory. ]n the contest described above, which is now about to bo decided, one thing was made evident, and that was that a very considerable number of persous now uu knowu are able to write fairly interesting short stories, showing that discipline and development are unquestionably training a good niauy American writers, so that we may expect hereafter to produce as bril liant tellers of short tales its does France itself. E. J. EDWARDS. THE NEW GOLD LAND. WESTERN AUSTRALIA BECOMING THE EQUAL OF CALIFORNIA IN 1849. A Field That 1'romliM to He Another El* dorado—Kicli Surface Pocket—Glowing Story, but Not Accompanied by an Affida vit—letter From Faraway Country. [Spcclal Corresjwndence.] PERTH, West Australia, Jan. 37.—While the rest of Australasia and it would seem the rest of the commercial world are suffer ing from rtie most depressing business stag nation in history, the comparatively un known colony of West Australia is fairly booming with a prosperity such as distin guished the early years after the discovery of gold in California. The first settlement iu West Australia was made in 1820, but its remoteness from lines of travel and the general sterility of the country, added to the fact that better farming land was to be found in more ac cessible parts of this, island continent, kept immigration away. Now people—principal ly men—are swarming to thiscountry by the tens of thousands, and all because of the new goldfields recently discovered back 300 to 300 miles from the coast. Within the past eight months the popu lation of West Australia has leaped from 90,000 to over 300,000, and it looks as if the human flood had only begun. The idle throngs in the other Australasian colonies have no doubt much to do with this state of affairs, but the stories of sudden for tunes one hears in this city would unsett le the most prosperous community in the world if they beard them. Up to one year ago the principal products of this colony were wool and kari gum blocks, used for paving the streets of Mel bourne, Sydney and other Australian cities. Cold had been found before this in small quantities, but water being scarce and oth er fields more profitable they were never worked. Nine months ago two miners named Folsom and Smith, who had had ex perience in California, came in, bringing with them on a pack horse about 500 ounces, or $10,000 worth, of free gold. These men tried, without success, to hide their "find." As soon as they had sold out their bullion they bought fresh horses, laid in supplies and tools for surface work and started back to the arid bush again. Folsom and Smith left town in the night, but at daylight the next morning they dis covered that they were being followed by scores of men equipped like themselves. In this case necessity became a virtue, and so the discoverers of the new fields piloted their unwelcome companions to what prom ises to be anew Eldorado. The contagion of the gold fever was too great for your correspondent to resist., and four months ago he found himself one of a band of as rough and hardy adventurers as ever went in search of that metal the love of which is said to be the root of all evil. We traveled on foot, carrying our sup plies on horseback, and after 15 days we had penetrated 300 miles into the sterile aaJrt/Ht, N yYW ustrxua, pVT VICTORIA yiuausfo GOLD I: KG ION", WKST Al'STtlALIA. hills and almost waterless desert of West Australia. Owing to the flies and the heat, the thermometer often rising to 140 degrees in the sun, our journey was made princi pally at night. The scene of our operations is known as "the Murcbison field," and the whole landscape is so arid and uninviting and the surroundings so depressing that only the promise of a sudden fortune could induce men to come to Murchison or to stay there after they had seen it. I was familiar with the methods of quartz mining, hydraulic work and wash ing that prevail in the American gold fields, but this did not prepare me for the state of affairs I found in this colony. It was not only the difficulties of transporta tion and the almost impossibility to get timber for fuel, much more for cabins, but the fact that the gold presented itself in a form such as I had never seen before. The country, far as the eye could reach, looked like a sea petrified while tempest tossed, and along the crests or breakers the gold was found. The mining laws of Austra lia are much like those in the United States —500 feet along an outcrop are given the prospector by right of discovery, and where there are two or more men they can stake out additional claims of half that extent and have them recorded. But in such a goldfield the first discoverer has no great advantage. Indeed he may not have hit upon the best location, and as to the area it seems to be practically without limit. There were four men, including myself, in our gang, and instead of settling down in the vicinity of parties that were averag ing 2}'* ounces of gold a day to the hand we struck out for ourselves. The outcrop of decomposed quartz, intermingled with seams of glistening adamantine trap, being practically unlimited, after two days of prospecting we settled down two miles far ther from civilization than the nearest camp. We were fortunate in finding a little val ley where there was an abundance of kan garoo grass for onr horses and a spring of water that looked as if the animals could exhaust it at a drink, but it still holds out. We had prepared ourselves for surface operations witii picks and heavy hammers and were not long in getting to work. The output of the first day was over six ounces of free gold to the man, aud this so elated us that we could notKleepduringthjtnight, but lay awake building air castles. We had breakfast liefore dayliirht. and with th« first dawn we were at work again. We were to take turns doing the cooking, hut as most of the stuff we brought with us was canned or condensed the cooking con sisted of making damper—a flour and water cake baked in the avhes—aud strong bluyk ten,-ii that the cook was at work nearly as mxiii as the others. At the etui of aodnys, when our supplies had iienr'j i:-•'i» '-'it ami it was thought I weil to senii two meu back tor a larger quantity, our earnings averaged about $2, 400 to the mati, from which should be de ducted about $200 each for food aud outfit. I am here now for supplies, and after four months, during which we have changed the field of our operations three times, as we are only prepared for surface work, we have kept up our average, and each man is to the good about $9,000. We are entirely satis fled, for while some have done far better others have not done nearly so well. One man found a surface pocket last month from which within four hours he took out 518 ounces of free gold, and cases where men bare mined from 60 to 100ounces a day are not uncommon. The abundance of surface gold and the want of water and proper mining appli ances beget great carelessness in the work, and so many rich finds have been abandon ed when without doubt a little drilling would discover an abundance of the pre cious metal lower down. This country reminds me very much of parts of southern Arizona and northern Mexico, and I am satisfied that without very deep drilling an abundance of water can be found. This will be a most profita ble undertaking for the company that opens It up, and with an abundance of water it aeems to me that thia goldfield is destined to become not only the first in the world to day, but the very greatest that has been dis covered in the history of the precious metal. Where eight months ago there were only about 2,000 men at work today there are more than 90,000, and it would seem that the human flood has but set in. But, unlike California or our other gold states in America, the auriferous area here covers tens of thousands of square miles and is practically unlimited. The wealth that lies still farther back in the desert is a subject for wild speculation, but there is every reason to believe that it is equally rich and far greater in extent than that now in sight. Back nearer to civilization by 50 miles than the Yankee Find, as we call our place, there is a mine known as the Doubt Star, where, after exhausting the surface, the owners have put up a small stamp mill and are now sinking a shaft. They have gone down 50 feet, far enough to demon strate the success of the venture. On this visit I met at Perth one of the owners, a quiet, conservative man, who told me that at the present depth of the Doubt Star the ore was about as rich as at the surface and would average from five to six ounces t. the ton. When one ounce would pay hand somely, the profits of this one mine prom ise to make all connected with it rich. The Pilbarra goldfields to the north are equally rich. I met two men—liichard Ka vanah and John Harris—just from there with a large lot of gold, one nugget weigh ing 290 ounces. They report that Jack Ryan, a man at the same place, has a nug get, one morning's find, weighing 000 ounces. Labor of all kinds is in demand here at high wages. The rain, for which we have been looking for months, is now falling, and this will help things. Meanwhile hur rah for Western Australia! GEORGK REDMOND. THE SUGAR TRUST. •ow It Has Made a Gross Profit of Over •28,000,000 Annually. [Special CorrcBimndence.] CHICAGO, Feb. 27.—Upon every occasion of a chant:" iu the tariff there is always considerably more than less heard of the sugar industry and the sugar refining in terests. The Sugar trust has evaded every species of direct and indirect legislation that has Ite^n leveled against it, and dur ing its existence it has been more auto cratic and independent and held more di rect sway over the people of the United States than any half dozen sessions of con gress put together. Now that there is an other change impending in the sugar sched ule of the tariff, we find the trust even more aggressive and domineering than ever. That their case is considered an ur gent one is evident from the fact that it lias drawn Mr. Theodore Havemeyer to Wash ington, and Mr. Theodore Havemeyer lias never before been known to have taken any personal active part in sugar politics. It seems hardly possible that anything new can be written about the Sugar trust, its dealings or its methods, but I believe that a careful perusal of what follows will well repay every reader and will supply hiin with information that he ought to know, but which he does not know. The sugar news heretofore published has emanated mostly from the trust itself, the officials giving out just what was to their interest and leaving the public to guess at the rest. There are many senators at Washington who are now delving deeper into the sugar barrel with a view to learning just what is at the bottom of it, and it is this sudden desire for knowledge on the part of our lawmakers and the fact that they are reach ing nearly to the bottom of the sugar bar rel which induced Mr. Theodore Have meyer to break his customary conservative ness and assume the part of an active lob byist in person. The total annual supply of sugar in the United States is approximately 1,700,000 tons, of whicli the southern cane crop is 200,000 tons, the beet sugar crop about 20, 000 tons and the Hawaiian crop 130,000 tons. This leaves 1,350,000 tons imported at Boston, New York and Philadelphia, but the entire quantity of 1,700,000 tons is ma nipulated and sold by the Sugar trust in New York. A comparison of the prices for raw and refined sugar as ruling from Janu ary to September, 1893, showed that there was an average difference during the nine months of 1.428 cents per pound between the value of the raw product as imported and of the refined article as sold by the trust. The cost of refining does not exceed half a cent per pound, though the trust always has claimed it to be five-eighths of a cent. The various discounts allowed to the trade, all of which have to be paid by the con sumer, reduce the difference in price be tween raw aud refiued sugar down to 1.148 cents per pound, and deducting half a cent for refining there was a net profit of .648 of a cent on every pound of sugar sold lie tween January and September, 1803. As has been stated, the total quantity of sugar handled by the trust is 1,700,000 tons annually, and a profit of .648 of a cent upon each aud every one of these 3,400,000, 000 pounds gives a total gross profit to the trust of $22,032,000 annually. This would seem to le enough for a concern with prop erty of an actual cash value of but $20,000, 000, a profit of 100 per cent annually. But the watered capitalization is $85,000,000, which makes the trust's profit over 25 per cent upon the actual pro|ierty aud its very liberal dilution of water. But even this is not all. The price of sugar iu San Francisco is not regulated by the eastern price. The raw sugar there Uiughl I rum the Hawai ian planters la-low the market price in New York by a quarter of a cent and is sold to the consumers at a cent, a pound higher than lie New York pric:* on nu average, 'l'liis m.il.cH a little matter of ex tra profit on tiie WCSL ni trade, briuging the gross proilts of ilUt concern up to $28, 633,000, or a total of isomer ceut per auuuni on the capital stock, water thrown in. So much ior the buying and selling of sugar by the trurf^which is not even con tent to stop at tlf.A. It meddles, interferes with aud checks thesugar producing indus try of the United States. Congress endeav ored to stimulate the growth of our own sugar supply, but the trust prevents it. Cougress saw the importance of our being independent of the rest of the world for this necessary staple article of food, for which the American people pay out more money annually than they do for wheat, and cou gress gave a bounty of 3 cents per pound upon all raw sugar made in this country. The building of beet sugar factories, it. was thought, would enhance the value of farm lands, provide a good paying crop for the farmers and promote anew and large manufacturing industry. It was thought that beet sugar factories studded through out the country in different states would supply their local markets with sugar, and that the people could see the sugar made at their doors, so to speak, and buy it there. The Sugar trust thought this too. The trust did more thinking. Local beet sugar factories supplying towns and cities iu different states would interfere with the business of the trust therefore they must be checked—unless under the control of the trust. In thesedays of improved meth ods the beet sugar factories are able to make a sugar very closely resembling gran ulated, and which sells as granulated in the ordinary market. This is what the trust objects to. The factories in Utah and Nebraska are able to do this and are permitted to do it, but when the large fac tory was built at Chino, in California, the trust stepped in and said, "We will buy your raw sugar." It was no use protesting. The trust in sisted, and the Chino beet factory is allowed to make only raw sugar and is compelled to ship it to the trust's refinery at San Fran cisco. The freight on the raw sugar thus shipped has to be paid by the factory, and its profits are further diminished through not being able to sell its product in the shape of granulated sugar. The beet sugar indus try is checked, but the trust is protected. Senators have been investigating all of these facts aud are better acquainted today with the workings of the Sugar trust than they have ever been. The opiuion is grow ing that there is but one way to promote the cultivation and manufacture of the do mestic sugar industry, aud that one way is to kill the trust which has hitherto defied all the laws of the country. This can only be done by placing a duty on raw sugar iu the interests of the domestic producer and by placing precisely the same amount of duty upon refined sugar, so that no protec tion will be afforded to the refiners, who must sell at precisely the same price as for eign refined sugar can be sold at. For the current fiscal year the secretary of the treasury has estimated the interest on the national debt at $26,500,000, which would be only 40 cents per capita of the population. For the year ending June 30, 1892, the per capita of interest was only cents, so that it appears that the Sugar trust makes more profit per capita out of the American people thau they are called upon to contribute to pay interest on the national debt. C. P. HOMESTAN. NEWS CONDENSATIONS. Steele Mackaye died in his special car near La Junta, Cal. Ex-President Harrison and party have •tarted for Cal ifornia. The visible supply of wheat decreased 1,410,000 bushels last week. National league base ball magnates are in session at New York. Ex-Minister Phelps is reported oat of danger and improving slowly. Eighteen inches of snow has fallen at Pomeroy. O., in the past 36 hours. The court of inquiry in the matter of the loss of the Kearsarge has convened at New York. The striking carpenters at the new Chicago stock exchange building have Won their light. Matthew Johnson was electrocuted at Sing Sing at 11:34 a. m. for the murder of Emil Kuckelhorn. Harrison L. Plummer, the portrait painter, well known throughout this country and Europe, died at his home at Haverhill, Mass. Leggnard Bros.' steam brick works at Hammond, Ind., will begin operations April 2. Between 400 and 500 men and boys will be employed. A terrible boiler explosion has taken place at the big iron works at Alexan derowski. Twenty-five men were killed and ten seriously injured. William Shafer, aged 60, living near Columbus Junction, la., has utterly disappeared, and it is feared he has been foully dealt with. He had 6ome means. At Sherman, Ala., a negro boy shot the sheriff, who was levying on a cow belonging to his mother. A crowd gathered and the usual lynching oc curred. The rich gold discovery in Gillespie county, near Fredericksburg, Tex., has been verified. The find was madeon the ranch of Dr. Christ Althouse, a miner alogist of considerable reputation. Replying to the Bombay chamber of commerce, the government of India has reiterated its statement to the effect that it does not intend to impose an ex port duty on oil seeds and wheat. Farmer A. W. Smith of McPherson, the defeated candidate for governor of Kansas on the Republican ticket of two years ago and who has been considered a candidate for nomination this year, will not be a candidate. MADE NO REPORT. More Heaate finance Committee Want* TIiuk to Plm V|i the Tariff Bill. WASAINGTON, Feb. 27.—The senate finance committee met, pursuant to a call, but quickly adjourned for a day. the tariff subcommittee not yet having finally completed its bill. The delay was caused by further efforts of the tariff frauiers to adjust differences with individual Democratic senators who are asking protection for special industries. tin More Toavtn to Royal!?. LONDON. Feb. 24.—The Gladstone Liberal and Radical club of Southamp ton hat, by an overwhelming majority, decided to omit iu future the toast ot the queen and the royal family at it* monthly dinners. This decision has been communicated to the premier, who, it Is believed, will object to the furthsr us.- of li uin by the organization.