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TREASURY WILL BE EMPTY NOV. 1

ABOUT THAT DATE THERE WILL NOT BE A DOLLAR ON HAND TO RUN STATE GOVERNMENT.

SHORTAGE OF $1,200,000 BY TIME TAXES COME IN.

The Amount Which Can Be Borrowed in Such Cases Is Limited to $250,000 Costs $500,000 a Month to Run State.

Those in charge of the state's finances are somewhat concerned over the approach of the bankrupt season, when the treasury will be short of funds. In previous years it has been just the general fund which was short of cash, but this year, along about November the treasury will be bare in reality. The only money left in the treasury will be about $65,000 in funds deposited by receivers for defunct banks, while in other years since the deficit appeared to rule in the treasury, there has been plenty of money on hand, although it was not available for the general expenses of state government. This time there will not be a dollar of state money left when the wolf takes possession.

It costs about $500,000 a month to run the state, which means that there will be a shortage of about $1,250,000 by the middle of January, when the taxes begin to come in again. In view of this situation, it is not probable that state officials will attempt to borrow any money to tide over the scanty period, as the limit is fixed at $250,000, and that amount will not go very far towards meeting the demands.

There has been placed in the budget the sum of $500,000 with which to clear away this deficit next year, but some state officials express doubt as to whether that will clear up the shortage, in view of the fact that the deficiency this year is likely to be over a million. Gov. Osborn says:

"I think we can meet it. There will have to be economy practiced everywhere, and the treasury funds carefully guarded. I have insisted that the cost of maintaining the state institutions be cut down and will ask everybody to join me in meeting the situation."