90 



CALIFORNIA. 



sonal security, $44,369,413; money on hand, 

 $23,111,537; due from banks, $14,565,447 ; other 

 assets, $4,108,115; total assets, $265.860,025. 

 The total resources on Jan. 1, 1893, were $286,- 

 133,947. Liabilities are shown as follow: Capi- 

 tal paid up, $55,398,185 ; reserve and surplus, 

 $23,513,288; due depositors, $177,366,915: due 

 other banks, $6,498,621 ; other liabilities, $3,083,- 

 016; total liabilities, $265,860,025. The num- 

 ber of banks reporting to the commissioners 

 is 249. Of these, 60 are savings banks, 14 pri- 

 vate banks, and 175 commercial banks. During 

 1893 4 new savings banks. 2 new private banks, 

 and 13 new commercial banks were started. 

 The assets of the savings banks in the State on 

 Jan. 1, 1894, were $142,494,612 a decrease of 

 $7,330,436 since Jan. 1, 1893. The decrease in 

 deposits during 1893 was $9,095,505. deposits 

 being $98,181,315, and withdrawals $106,436,- 

 118. In the aggregate the money movement 

 during 1893 was the largest ever reported in the 

 State. Compared with 1892, it shows a com- 

 plete reversal in the natural order of things 

 along this line, for in 1892 $107,645,000 were 

 deposited, and $93,430,700 were withdrawn. 

 During 1893 the net profits of the savings banks, 

 amounting to $6,789,658, were distributed as fol- 

 low : Dividends paid to depositors, $5,819,805: 

 to stockholders, $458,102; added to reserve, 

 $511,751. Oct. 3, 1893, the resources of the 35 

 national banks in the State were $26,652,457. 



Education. A new college of machinery, on 

 the State University grounds at Berkeley, was 

 opened in March. The building is of Roman 

 brick and terra cotta and is Romanesque in 

 architecture. It cost $50,000, and the equip- 

 ment, exclusive of the old and still available 

 machinery, amounted to $25,000 more. The 

 plan of the building is a hollow rectangle. The 

 central portion of the south front is two stories 

 high. All the other portions are one story, while 

 under the western side only there is a high base- 

 ment. The quadrangle is roofed over with iron 

 and glass. The course in the College of Mechan- 

 ics is limited to four years, and is a continuation 

 of the elementary scientific studies begun in the 

 high school. Every detail of electrical and me- 

 chanical engineering may be acquired. There 

 were 32 students on the opening of the college. 



Early in the year, J. Clute Wilmerding, of San 

 Francisco, left by his will $400,000 to the re- 

 gents of the University of California for estab- 

 lishing Miid maintaining a school to be known as 

 "The Wilmerding School of Industrial Arts." 



Wine. In response to a call, the wine pro- 

 ducers of the State convened at San Francisco 

 on Sept. 11. Their object was to organize a co- 

 operative association for the purpose of control- 

 ling the vintage, of the State, to adopt measures 

 to put the wine industry into a more flourishing 

 condition, and to secure, the mutual benefit anil 

 protection of the wine producers. 



During the first six months of 1894 the ship- 

 ments by sen were: Wine, 6,902 cases, 999,834 

 gallons; brandy, 254 cases, 274,699 gallons; a 

 decrease of 120.000 gallons from the same period 

 last, year. The shipments by rail were: Wine, 

 il).s::r, ,-ases 5,15 tS,!M t gallons; brandy, 731 cases, 

 236,0!)!) gallons: an increase of 1,200,000 over 

 the movement for the corresponding period of 

 1893. The principal reason for the change in 



the means of transportation is the low freight 

 rates offered by the railroads. 



Agricultural Station. Congress is about to 

 establish a new agricultural experiment station 

 at the delta of the Sacramento and San Joaquin 

 rivers, with the abject of determining whether 

 sugar cane can profitably be grown there. A 

 quantity of rice will be planted also, it being 

 thought that the lowlands along the banks of 

 the two rivers are adaptable to its cultivation. 



Transmississippi Congress. A commercial 

 congress, which was attended by delegates fron\ 

 towns and cities west of the Mississippi valley, 

 convened at San Francisco Feb. 12, and contin- 

 ued in session for three days. 



Grain and Flour. The semiannual account 

 of cereals remaining in the State. June 1, 1894, 

 shows: Barley, 1,370,305 centals; oats, 106.915; 

 beans, 124,300; corn, 94,390; rye, 6,585; and 

 wheat, 7,646,090 ; also 80,310 barrels of flour. 

 At the same date in 1893 there were 4,485,923 

 centals of wheat and 83,327 barrels of flour. 



Specie. During the first six months of the 

 year specie was exported from San Francisco as 

 follows : Silver bars, $3,300,905 ; Mexican dollars, 

 $2,148,935; South American dollars, $134,742; 

 gold coin, $9,416,820 ; silver coin, $364,000 ; gold 

 dust, $290; currency and bonds, $1,291.971; 

 total, $16,658,053. The export for the corre- 

 sponding period in 1893 was $12,197,092, of 

 which amount $67,781 was in gold bars. 



Irrigation. The acreage under irrigation is 

 5,500,000, 3,800,000 acres being under cultiva- 

 tion. A company with a capital of $2,500,000 

 has been incorporated, whose object is to erect a 

 dam 150 feet high at Victor Narrows, on Mo- 

 jave river, to impound a lake 9 miles long and 

 about 3 miles wide. This water will be used in 

 irrigating about 200.000 acres on the Mojave 

 desert, which is especially adapted to producing 

 raisin grapes and alfalfa. 



The Public Domain. In the United States 

 Circuit Court for the Southern District of Cali- 

 fornia it was decided, in June, that 700,000 

 acres, in Los Angeles and Ventura Counties, 

 originally granted to the Atlantic and Pacific 

 Railroad Company, have reverted to the United 

 States Government. 



Farm and Home Proprietorship. The 

 census bulletin issued in September shows that 

 76-08 per cent, of the farm families own the 

 farms cultivated by them, 32'5 per cent, owning 

 subject to incunlbrance. These liens amount 

 to $46,767,837, which is 30-32 per cent, of their 

 value; and this debt bears interest at the aver- 

 age rate of 8'78 per cent., making the average 

 interest charge $299 to each family. Each 

 owned and incumbered farm is worth, on the 

 average, $11,233, and is subject to a debt of 

 $3,406. The corresponding facts for homes are 

 that 39-79 per cent, of the home families own 

 their homes, 22'7 owning with incumbrance. 

 The debt on owned homes aggregates $30,999,- 

 517, or 34-68 per cent, of their value, and bears 

 interest at the average rate of 8'1 per cent., the 

 average amount of interest to each home be- 

 ing $154. An average debt of $1,805 incum- 

 bers each home, which has the average value 

 of $5,205. The number of mortgages in force 

 in 1890 was 1 12,637, valued at $542,704,054. The 

 average rate of interest was 8'81 per cont. 



