TERRITORIAL BANKS

At the close of the year covered by this report there were 13 Territorial and 4 national banks doing business in the Territory. The Territorial banks are located at Ketchikan, Wrangell, Petersburg, Juneau, Skagway, Cordova (2), Valdez, Seward, Anchorage, Flat, Nome, and Hyder. National banks are located at Ketchikan, Juneau,

Anchorage, and Fairbanks. The number of banks remained the same during the year, no new ones having been organized nor were any suspended or liquidated.

The Territorial banking board, composed of the governor, the auditor, and the treasurer of the Territory, continued its supervision over the Territorial banking institutions. All such were examined during the year and reports made of condition and published statements under call as required by law.

16860--307

Combined deposits in the several Territorial banks at call of June 30, 1930, totaled $7,624,291.24, as compared with total of $8,101,089.42 at corresponding call of the year previous. At call of June 30, 1930, combined capital of all Territorial banks totaled $640,000. the same as for the corresponding call of the year previous. On June 30, 1930, under call from the Comptroller, the national banks of the Territory showed combined capital in total of $275,000. surplus and net undivided profits of $265,041.85, deposits $4,628.087.10. Aggregate banking figures for the Territory on June 30, 1930, were approximately as follows: Capital, $915,000; surplus and net undivided profits, $935,300; deposits, $12,252,300. Approximate totals for the year previous were: Capital, $915,000; surplus and net undivided profits, $815,100; deposits, $12,754,500.

ALASKA FUND

The Federal Government derives revenue from business and trade licenses issued outside of incorporated towns, which is collected by the clerks of the district courts, deposited to the credit of the Treasurer of the United States, and by him credited to the Alaska fund, under the act of Congress approved January 27, 1905. Sixty-five per cent of the money paid into this fund is appropriated for the construction and repair of roads and trails outside of incorporated towns and expended under the direction of the Alaska Road Commission: 25 per cent is appropriated for the maintenance of schools outside of incorporated towns, expenditures being made upon requisitions by the Governor of Alaska upon the Treasurer of the United States through the Secretary of the Interior; and 10 per cent is appropriated for the relief of indigents, disbursed by Federal judges under the act of Congress approved March 3, 1913.

The sums collected during the fiscal year 1930 and a comparison with the previous fiscal year are shown in the following tabulation:

The net amount of cash turned into the Treasury in the fiscal year 1930 for the account of the Alaska fund in the first and third divisions was, however, $201,310.70, the difference of $7,736 being the aggregate of rebates made and credited to certain salmon canneries for the release of salmon fry in lieu of cash payment of taxes on their output.

The act approved June 26, 1906, provides that the catch and pack of salmon in Alaska by owners of private salmon hatcheries operated in Alaska shall be exempt from all license fees and taxation of every nature at the rate of 10 cases of salmon to every thousand red or king salmon fry liberated; that is, a rebate of 40 cents is allowed on every thousand red or king salmon fry released.

The total revenues received from the taxes levied by the Federal Government within incorporated towns from business and trade

licenses which were paid by the clerks of the district courts directly to the treasurers of the towns were as follows:

Three or more persons may unite to form a stock corporation under the general corporation laws of the Territory of Alaska for any lawful business purpose whose chief business shall be in the Territory of Alaska, except for the purpose of banking, insurance, brokerage, or loan, trust, and guaranty associations. Domestication of banks and of trust companies and of social, fraternal, educational, and similar corporations is authorized by special' laws pertaining thereto.

Foreign corporations (there being a special law applying to insurance companies) may qualify to do business in the Territory by filing in the offices of the Territorial auditor and of the clerk of court in each of the judicial divisions of the Territory wherein business is contemplated being done, (1) a certified copy of articles of incorporation, (2) financial statement, and (3) appointment and consent of resident agent for the service of process. Blank forms for the latter two may be procured from the auditor upon request. Actually engaging in business without authority so to do subjects a foreign corporation to a daily penalty of $25 and renders all its contracts voidable at the option of the other contracting party. After being once qualified a foreign corporation has the annual duties of paying the corporation tax mentioned in the following paragraph and filing an annual report and the further duty of keeping on file an effective appointment and consent of resident agent.

All corporations must pay to the Territorial auditor at the time of incorporation, if domestic, or at the time of qualifying to function in Alaska, if foreign, a tax of $15; and the same amount each calendar year thereafter, on or before January 1 of the year concerned. If not then paid a penalty of $2.50 attaches, and in case of tax delinquency for two consecutive years dissolution or cancellation of authorized status automatically results.

Filing fees in the office of the Territorial auditor:

1. Filing certified copy of articles of incorporation, fee is controlled by amount of authorized capitalization:

a. Authorized capitalization of $100,000 or less

$25.00

b. Over $100,000 to and including $1,000,000, for each $1,000
or fraction thereof, an additional__.

.10

c. Over $1,000,000, for each $1,000,000 or fraction thereof, an
additional..

10.00

2. Filing financial statement (not required of domestic corporation). 3. Filing annual report of domestic corporation_---

4. Filing annual report of foreign corporation__--.

5. Filing fees to each clerk of court, approximately.

NOTE--In case of nonpar stock each share is considered as of $1 for purpose of de

termining filing fee.

No fee.

2.50

5.00

2.00

AGRICULTURE

With the recent influx of settlers agriculture has been given a new impetus in the region along the Alaska Railroad, particularly in the Matanuska-Susitna Valley. A number of new homeseekers settled on agricultural land and began clearing in order to begin the enter prise of dairying.

The creamery, which is supervised by the Matanuska station and operated by the Alaska Railroad, is slowly adding new patrons. Being located at Curry, which is midway between Seward and Fairbanks, patrons are shipping cream to it from both directions. The creamery has stabilized agriculture, especially in the Matanuska Valley, in that it assures a market for all the cream that the farmers can produce not only at the present time but also for some years to come. Periodic inspections of the creamery and of the farmers' cattle, from which cream is supplied, are made by a member of the experiment-station staff.

A new livestock breeding project was begun this year in cooperation with the Government industrial school at Eklutna. The Matanuska station furnishes the school with Alaskan dairy cattle. which originated at that station, and supervises the breeding work. The school provides feed and shelter for the dairy cows, uses the milk to replace the canned milk formerly used by the children, and keeps milk production records of each cow for the experiment station. This cooperative project reduces the cost of fresh milk to the industrial school and enlarges the scope of breeding of dairy cattle by the Matanuska station.

A similar project has been in progress at Curry for the past three years. The Matanuska Experiment Station and the Alaska Railroad are the cooperating organizations. Dairy cows are furnished to the railroad by the experiment station. The Alaska Railroad uses the milk produced by the cows for its hotel and furnishes such milkproduction data as is requested by the experiment station.

Projects in agricultural experimentation are in progress at each of the four stations. At the Matanuska station a breed of Alaskan hardy dairy cattle has been developed which is well adapted to the Matanuska-Susitna Valley. Being located in the heart of the dairy region of Alaska, most of the investigational work on farm cropand livestock is centered on dairying. The ensilage crop consisting of a mixture of peas and oats, and the hay crop consisting of oats and vetch, have never failed in this region.

Hogs have proved to be a profitable adjunct to dairying. Hog pasture, consisting of a mixture of peas, oats, and rape, furnishes succulent feed throughout the summer, and, with the addition of some grain fed in the fall of the year, an excellent quality of pork is produced.

Breeding of cereal and forage crops is in progress to originate new varieties which are especially adapted to the region. New varieties are also introduced each year from different parts of the world. A series of crop-rotation experiments were begun the past year to determine the best cultural practices for maintenance of soil fertility.

The experimental orchard, which was started in the spring of 1929, established the fact that certain varieties of fruit trees can be grown. The winter was unusually cold and there was but little snow on the ground, causing all but the hardiest trees to winterkill. Among the varieties of apple trees which survived the winter are Red Siberian, Dolga, Whitney, and Wealthy.

Four young yak were added to the herd at the Fairbanks station this winter. These animals were donated to the Alaska agricultural experiment stations by the Canadian Government. One of the old yak cows was slaughtered to determine the quality of meat. Those persons to whom it was sent pronounced it equal to beef. The YakGalloway hybrids thrive well in the region. They are more hardy than the pure Galloway cattle.

Several varieties of the hardiest alfalfas survived the winter. Rye proved to be the hardiest of the winter cereal crops. Fall-sown wheat winterkilled almost completely. Cereal grains sown in the spring of 1929 matured, but, due to rainy weather in the fall of the year, it was difficult to cure the grain in the shocks.

The Galloway herd at the Kodiak station is in excellent condition. Feed is plentiful at the head of Kalsin Bay, where the cattle ranged throughout most of the year. All the hay that was fed was made on the station reserve. An experiment in range management conducted on small plats under controlled conditions indicated that burning the dead grass while the frost is still in the ground improved the range. At the Sitka station experiments are in progress to determine the best cultural practices for growing vegetables and fruits adapted to the coast region of southern and southeastern Alaska. Other subjects under investigation are the control of the root maggot and control of frost-heaving injury to plant.

FARM ASSOCIATIONS

Associations of farmers and others interested in the development of agrarian pursuits, improvement in home economics, and kindred subjects have been organized in the Tanana Valley at Fairbanks, southeastern Alaska at Juneau, southwestern Alaska at Anchorage, and northwestern Alaska at Nome. Each of these organizations promotes an annual fair, where the products of the soil are displayed. The Territorial legislature contributes $2,000 per annum to each association to help defray the expenses of the fair. The associations render assistance to the farmer and housewife and take an active part in all community enterprises. In Fairbanks members of the association have organized a company and erected a flour mill with a daily capacity of 25 barrels. They guarantee $2.40 per bushel at the mill for wheat and produce in excess of 40 tons of flour annually, for which they receive $15 per barrel.

LIVESTOCK INSPECTION

A careful inspection of practically all of the dairy herds in the Territory was made during the fiscal year by the Territorial veterinarian who is employed to aid the fur farmers of the Territory.