390 



IOWA. 



there was received at the State treasury from all 

 sources $5,079,403.29. This amount was derived 

 from the following sources: From the counties, 

 $4,055,767.75, which was inclusive of the taxes 

 paid by railroads; from corporations, such as in- 

 surance, express, telegraph, and telephone com- 

 panies, $375,596.57; from fees collected by State 

 officers, $222,399.34; from taxes on collateral in- 

 heritances, $52,799.52; from the Federal Govern- 

 ment, $192,328.62; from the State institutions, 

 $133,503.96; and from various sources, $46,507.64. 



" The expenses of the State government during 

 the biennial period closing June 30, 1899, were 

 $4,199,994.93. These expenses were divided as 

 follow: For the judiciary, $342,839.96; for the 

 Legislature, $120,516.50; for the executive depart- 

 ment, $188,616.28; for the institutions maintained 

 by the State government of Iowa the total ex- 

 penditures were $3,141,908. This is inclusive of 

 the disbursements of the special tax for the State 

 University. For educational institutions, $400,- 

 262.57 was appropriated; for charitable institu- 

 tions, $1,933,200.38; for penal institutions, $396,- 

 140.09; for reformatory, $167,061.93. The inci- 

 dental expenses of the State government amounted 

 to $478,515.52. In this latter sum is included 

 $141,000 disbursed from the treasury on account 

 of the late war with Spain." 



The total assessed valuation of property in 1899 

 was $525,391,741, about $20,000,000 less than that 

 of 1898. A new law went into operation Jan. 1 

 which requires that all property be assessed at 

 25 per cent, of its actual value. The valuation 

 of real estate under this law is $390,297,578; of 

 railroads, $44,736,070; of live stock, $36,063,244; 

 of money and credits, $25,650,027 ; of merchandise, 

 $14,230,944. 



The tax levy in 1898 was 3.2 mills; in 1899 it 

 was 2.9 mills. 



The total revenue from the mulct tax and sa- 

 loon licenses for the year ending July 1 was 

 $1,120,544. 



The State recovered $1,219 in May in a suit 

 against ex-Secretary of State W. M. McFarland, 

 who was convicted of having withheld that 

 amount from the salaries paid by the State in 

 1895, and supposed to have been received by the 

 census clerks. 



Banks. The condition of the 204 savings and 

 the 209 State banks at the close of business Sept. 

 7 is reported as follows: Savings banks liabili- 

 ties: capital stock, $7,942,100; due depositors, 

 $50,497,926.72; due banks, $59,715.02; surplus, 

 $696,508.05 ; undivided profits, $1,062,669.58 ; total 

 liabilties, $60,258,819.37; assets: bills receivable, 

 $45,036,674.92; cash and cash items, $2,129,940.09; 

 credits subject to sight draft, $10,836,678.28; over- 

 drafts, $398,514.31 ; real and personal property, 

 $1,857,111.77; total assets, $60,258,819.37. State 

 banks liabilities: capital stock, $9,098,170; due 

 depositors, $30,209,722.27; due banks and bank- 

 ers, $550,631.66; surplus, $1,030,786.52; undivided 

 profits, $879,485.91 ; total liabilities, $41,7 68,796.36; 

 assets: bills receivable, $28,634,705.91; cash and 

 cash items, $2,114,332.95; credits subject to sight 

 drafts, $8,187,426.43; overdrafts, $768,581.47; real 

 and personal property, $2,063,689.60; total assets, 

 $41,768,796.36. 



Between Jan. 6, 1898, and Sept. 7, 1899, the de- 

 posits in all these banks increased $28,500,000. 

 The deposits in national banks were $42,238,769, 

 and those in private banks were estimated at 

 $40,000,000. 



Failures. Bradstreet's reports 111 failures in 

 Iowa during the first nine months of 1899, with 

 liabilities of $389^610 and assets of $213,235, 

 against 159 failures during the first nine months 



of 1898, which had $1,161,799 liabilities and assets 

 of $794,613. 



Railroads. During the year 582.66 miles of 

 new track were laid in the State ; this seems to 

 be a larger amount than is reported from any 

 other State. The report of the Railroad Commis- 

 sion shows the number of railroad employees this 

 year to be 32,385, against 30,009 in 1898; their 

 total compensation was $18,406,383.76 in 1899, 

 while in 1898 it was $17,280,215.01; and the aver- 

 age daily compensation was $1.82 in 1899 and 

 $1.83 the preceding year. The report says that 

 the railroad managements have become thor- 

 oughly aroused to the public necessity of better- 

 ing their roads in Iowa, and the trunk lines alone 

 have expended hundreds of thousands of dollars 

 on improvements. In the year ending June 30, 

 1898. the railroads paid in State, county, and 

 Inunicipal taxes $1,399,090.79. 



Insurance. An opinion by the Supreme Court, 

 given in November, declares unconstitutional that 

 portion of the State law which exempts insur- 

 ance corporations from paying taxes other than 

 the 1-per-cent. tax levied by the State and col- 

 lected by the Treasurer. It holds that insurance 

 and kindred corporations are subject to State, 

 county, city, and school taxes, just as individuals 

 are. Their capital stock and personality by this 

 holding are placed on a footing with their real 

 estate, all being subject to the local tax levies, 

 which formerly they escaped. 



It was also decided that the State tax against 

 foreign insurance companies is constitutional and 

 valid. It holds that the tax is not a tax upon 

 property but upon business that is, the privilege 

 of doing business in Iowa which is determined 

 wholly by this State. The tax on foreign insur- 

 ance companies is 3J per cent, on premiums. The 

 principle is applicable to all companies in the 

 United States outside of the State which do busi- 

 ness in Iowa. The tax on this class is 2J per 

 cent. The State collects about $35,000 annually 

 from the foreign companies, and much more from 

 the domestic companies. 



The clause of the State Constitution prohibit- 

 ing the granting of privileges and immunities to 

 any citizen or class of citizens not granted to 

 others, it is held, has reference only to citizens 

 residing in the State. It is held that a foreign 

 corporation has no absolute right of recognition 

 in other States. It depends on their assent for 

 recognition and enforcement of its contract, and 

 a State is not prohibited from discriminating in 

 the privileges it may grant to foreign corpora- 

 tions as a condition of their doing business within 

 its limits. 



Education. The superintendent's report gives 

 the whole number of enumerated school popula- 

 tion as 727,775; enrolled in schools, 554,992; whole 

 number of schools, 18,177; of teachers, 28,437; 

 value of schoolhouses, $16,908,076. The men 

 teaching in public schools receive an average 

 monthly salary of $38.31; the women, $30.30. 

 The total cost of the schools for the year wa-s 

 $8,583,416. 



The high schools of the State graduated 1,839 

 young women in 1899, and 954 young men. 



The State Normal School is greatly over- 

 crowded, having had in all departments this year 

 about 1,900, and 300 in the graduating class. The 

 establishment of more normal schools is urged 

 upon the Legislature. 



The State College of Agriculture and Mechanic 

 Arts, at Ames, has a constantly increasing attend- 

 ance, requiring this year the services of 67 teach- 

 ers, while ten years ago there were but 25. De- 

 crease in the rate of interest obtained on the en- 



