CONNECTICUT. 



239 



from savings-banks; $041.724.79 from rail- 

 roads : and $109,055.40 troin the military com- 

 mutation taxes. A reduction of the State tax 

 rate from 2 to 1-J- mills caused the decreased 

 revenue from the State tax in the latter year. 



The funded debt of the State on the first 

 day of July. 1886, was $4,271.200. In ac- 

 cordance with the Refunding act of 1887. the 5- 

 per-cent. bonds of 1877, amounting to $1,030,- 

 000, were redeemed during that year and 

 $1,000,000 of bonds bearing 3 per cent, inter- 

 . ere issued. The debt, thus reduced by 

 $30,000 and by $600 of other bonds redeemed, 

 stood as follows on June 30, 1888 : 



Issue of 1S65. unredeemed $600 



Issue of March 19. 1SS2. payable in 1 9u3 500,000 



Issue of April 4. 1553. payable in lyns 1,000,000 



Issue of March 10. etc., 1886, payable in 1910 1,740,000 



Issue of May IS, 1887, payable in 1 ?97 1,000.000 



Total $4,340,600 



Later in 1888 the Treasurer, exercising his 

 power to redeem at any time the issue of 1887, 

 called in $500,000 of that loan, paying for it 

 out of the large surplus in the treasury. 



The telegraph companies in the State re- 

 fused during the year to pay the full tax as- 

 sessed on their gross earnings in the State. 

 and there is a controversy as to the constitu- 

 tionality of tbe gross-earnings law except when 

 applied to business ot' the companies done 

 wholly within the State. The companies claim 

 that the tax is a regulation of interstate com- 

 merce when imposed upon their revenue de- 

 rived from messages coming in or going out of 

 the State. The Western Union Company Las 

 paid for 1888 a tax of $715.14. If a tax is 

 due on the total receipts it would amount to 

 $3,389.48. No legal measures to collect the 

 balance claimed by the State have been taken. 



Education. The amount of the school fund 

 held by the State for the benefit of the com- 

 mon schools, on June 30, was 2. 01 9.572.4". 

 From the income of this, the sum of $116,119 

 was distributed in 1888 for the support of 

 schools. This was about 75 cents for each 

 child, the number of school-children enumer- 

 ated in 1888 being 154 532. The income dis- 

 tributed in 1887 was $114.945, and the num- 

 ber of children of school age 153.260. For the 

 school year 1886-'87 the following statistics are 

 compiled: Public-school districts, 1.424; num- 

 ber of public schools. 1,628 : number of school- 

 houses, 1.655: average length of school year, 

 in days, 180-18; graded schools. 361; evening 

 schools. 26: estimated value of school proper- 

 ty. $5.739,895.01; number of pupils enrolled, 

 125.794: number of pupils in private schools, 

 15,953; number of children in no school. 20.821; 

 average wages of male teachers per month, 

 $68.82; average wages of female teachers per 

 month, $38.50. The total amount raised from 

 all sources for support of the public schools in 

 1886-'87 was $1.793,369.19, and the expendi- 

 tures were $1.768,371. 06. 



The State Normal School at New Britain is 

 in a nourishing condition, having graduated in 



1887 the largest class (62; in its history of thirty- 

 five years. The total attendance at the school 

 for the year was 292, or 26 larger than in any 

 previous year. Additions and improvements 

 in the school-building have recently been made 

 out of a legislative appropriation in 1886. 



In September, 1887. the first text-book ever 

 published by the State was issued and distrib- 

 uted to the various schools. This was a small 

 treatise, authorized by the Legislature of 1886, 

 upon physiology and hygiene, especially with 

 reference to the effect of alcoholic liquors on 

 the human svstem. 



Under the child-labor law of 1886, forbid- 

 ding the employment of children under thirteen 

 years of age in factories, etc., a total of 1,173 

 children had been discharged by employers up 

 to September, 1887, but no perceptible increase 

 of school attendance resulted therefrom. By 

 an act of 1887, the authorities charged with 

 enforcing the law were also given power to 

 place in school any children found by them 

 unlawfully employed. 



Insurant?. Four new life-insurance compa- 

 nies were licensed in 1887 to do business in the 

 State, and two ceased to exist. The six stand- 

 ard Connecticut companies increased their as- 

 sets during the year by $2.769.263 and their 

 liabilities, except "capital", by $2,236,160. Fonr 

 life associations conducted on the assessment 

 plan had insurance of $63,402,500 in force Dec. 

 31. 1887. of which $13,160,250 was written 

 during the year. They paid losses of $657,593. 

 The single accident company, the Travelers', 

 received $2,102,258 in premiums and paid $943,- 

 760 for losses. Of the 113 companies engaged 

 in fire insurance, ten stock and sixteen mutual 

 companies are Connecticut corporations. The 

 assets of these stock companies increased from 

 $26,317.436 in 1886 to $26,989,632 in 1887, and 

 the liabilities, including capital, scrip, and spe- 

 cial funds from $18,574.374 to $19,621,398. 

 The Connecticut stock companies now have a 

 surplus of $18,318,324 as regards policy-hold- 

 ers and the mutual companies, $1,103,520. 



Banks The number of savings-banks in the 

 State at the beginning of the year was eighty- 

 five, having assets valued at $107,896,912, and 

 a surplus of $3,514,772. The deposits had 

 increased during the year preceding by $4,765,- 

 113.87, making a total amount of $102.189,- 

 934.72. The number of depositors had increased 

 11.527. showing that the increase of deposits is 

 not due to an accumulation of interest credited 

 to depositors' accounts. 



There were also eight State banks with as- 

 sets ot'$4.563.914.74. total surplus. $512.109.92; 

 and eight trust and loan companies with assets 

 of $4.430.445.08, surplus, $295.414.81. 



The number of national banks in the State 

 at the beginning of the year was eighty-three, 

 having an aggregate capital of $24.505,410. 

 The surplus fund of these banks amounts to 

 $6.908,034.74. and they hold as undivided prof- 

 its $l.'.'37.l!'7.-'J3. Their outstanding circula- 

 tion, in common with all of the country, has 



