The Jersey City news., 1891-08-26
AFTER CORPORATIONS.
A Proposition to Make Them Pay
What They Owe.


with the miscellaneous corporations who
do not pay their taxes. He VIII. in a
number Of cases. eDjoin corporations in
New York from continuing in business,
and among them is the famous Buffalo
Bill Combination, which Is incorporated
under the laws of New Jersey, who have
made no arrangement for the payment Of
the taxes assessed by the state on the
capital stock
An examiaation Of the list OF corpora
tIons filed in the Office of the Secretary OF
State leads to the conclusion that 1t Is
easy for q group OF men TO come into ex-
istence as a million dollar corporation,
but when it comes TO paying taxes on the
mythical STOCK, there Is more or less
trouble. The State Of New Jersey Is the
fovorite legal home OF large number OF
the biggest corporations in the United
States, including the sugar, the tobacco
aud the book trust. It is also the parlor
OF refuge for hundreds of wildcat schemes
and mythical corporations with water
soaked stock.
Every year the Attorney General goes
before the Chancellor and secures iuJunc-
tfons eujoining some corporations from
doing business. rhe injunction, how
ever, does not always enjoin, because
nothing visible can be found OF the cor
poration. 1t cost the State some thou-
York and Philadelphia for the Offices
OF these concerns. The law requires
them 10 have an Office in New Jersey
and this requirement is met by hanging
an eight by four Inch sign on a tree in
front of some lawyers Office Corpora
tions get their right to have legal exls-
tence from New Jersey and then do busi-
ness in other States and countries. New
Jersey corporations are to be found In
Canada. Mexico and Brazil. 1t is easy
enough for Chancellor McGill 10 epjoin
them, but they continue to do business
because they cannot be found.
HAS THEM on THE LIST.
The Attorney General carries about
eight hundred corporations in his book.
who are either slow 10 pay, or OF myth
cal existence aud have long since gone
to the bow-wows. Others revive spas
medically and pay up because new eapi-
tai has been secured. In sucn cases the
State makes big interest, charging one
cent per month for delinquency The
amount received in this way more than
pays the legal expenses incurred In max
ing the collection The batch TO be en-
joined next Tuesday are all New York
companies. There are sixteen that have
been advertised. the others are not made
public because there Is still hope for the
payment of the tax before the Chancellor
afiixes his signature.
Buffalo Bilps company is now abroad.
The State Board OF Assessors only have
the address of Nate Salisbury at the
Westminster Hotel. There has been
more or less trouble collecting the
amount, because Salisbury takes 10 mo-
ttee of the summons. The amount they
owe the State Is $500. If they are enjoined
they can never make suits on contracts
when they return to this country. They
can only have the injunction raised by
paying the amount and the u per cent.
interest. The other delinquens corpora
tions are Sparman Furniture Company,
al which Elwood b. Haines is an officer;
Swift Davenport Spiral Spring Machine
Company, Of which j. II. Swift is regis
tered as treasurer, with Office at No. 5S4
Hudson street. New York; the SUI
preme Gaslight and Fuel Company,
No. 140 Forty seventh street;
United States and International Secret
Service, No. SS4 Broadway; Vassar Bur
glar Alarm Manufacturer. No. So Warren
street; VentilaIing Gas Lamp Company.
NO. 47 Liberty street; Charles Indian
Company, No. 241 Grand street; Empire
Hydro-Carboz Company OF New Jersey.
No. 81 Front street; Hudson Improve
ment Company. owes 81. 900, the principal
officer is Thomas A. Bailey, Sturtevsnt
House; Industrial Fuel Company, No. "a
East Eighteenth street; johnson Pneuma-
tic Tube Company. No. 315 West 12lst
street: Jefferson Iron Company, off1ce
Jersey City; Prong Moulding Machiue
Company, Office Orange, N j.: Red Man
Mining Company, officer 4. w. Gedney,
New YORK City. Neither the offices or
sfficers of these companies can be found
by the counsel at the attorneys general
Office
AS TO INJUNcTIoNs.
The Chancellor is frequently called on
90 en- join corporations He gives broad
Injunction and then the State Is obliged
to find some officer of the company aud
make service The lodges resorted TO by
some of them TO avoid service are as lu-
dicruous as they are ingenious Many
writs are not served but advertised. As a
rule. nearly all concerns are slow IN pay
ing. Even some of the large corporations
who are thriving hold of until threatened
with the law. Others that are struggling
20 to the extent of time allowed OF law
and suffer the penalties.
There are now on the books Of the
State over eight hundred or more cor
porations who are slow at pay. The Gov
ernor has in hands some six hundred
names of corporations who refuse to pay
II is his intention during September 70
take advantage of the law passed last
winter to revoke them by proclamation.
| All corporations delinquent for two years
Will be given an opportunity to explain
why they do not pay, and not satisfae-
/ tory he issues a proclamation that cancels
their charter and they are no longer a
| corporation in any sense whatever.
Notices are now being sent ont TO these
| deIinquenis. but they are slow coming
to the front and explaining and when
| proclamation day comes about fve hun
| ared will 90 down in a single stroke OF
| the Governors pen.