Telegram-herald., 1891-01-10
NEGLECTED STATUTE
ManufActnrlng Companies Uni-
formly Overlook the Law
REQUIRING sNORs STATEnEsTS
OF rAsssi Aaairs - os rsAiishsa " -
Newspapers asa FILED via ths
Glesk-W has Was ~ faAsea
fos, Asywsys

The statute hooks Of the State Of
Michigan contain many strange and un-
natural laws, whose very terms reader
them almost nugatery. and yet there
are attached hnes and penalties caieu-
lated, and no doubt intended. 70 secure
compliance Herewith. One OF che
most generally violated statutes isthat
requiring the fling of annual state
ments OF the affairs of manufacture
ing concerns ia the county clerks Of
nee. and the publication of the same IN
newspaper published nearest the
place of business of such concern.
This Law II as nearly . dead
letter as il is possible for a law
to be and still live. The neglect 10
obey its provisions ~ not eonnned 10
one locality. but exists all over the
state. All the lager and more heavily
capitalized establishments, with hardly
an exception, ignore the law altogether
and have done SO since II MAS first en-
acted. The reason why II was enacted
in the first place is obscure. lt -
claimed that by fling these statements
the solyency OF the ASSOCIATION or cor
poration IL established and public notice
given of its financial condition that
could be obtained in no other way. IL
also provides the assessor with basis
for assessment, but II must be
admitted IN this respect II falls
far short OF its object. There may
be other cogent reasons why tais
statute is inestimably eervlceable 10 the
public. but they are not so apparent al
first sight as 10 commend themselves.
True these corporations are quasi pub
lie institutions, but II doesn't follow
that the magnitude or character OF their
operations. regulated by other laws,
should become public property, any
more than the like operations OF an IN
dividual.
Corporations granted extraordinary
rights should IN return therefore &C
count to the power conferring the spe-
cial privileges, but why legitimate
manufacturing industry, carried on by
an ASSOCIATION of several individuals,
without extraordinary concessions or
the inyestlturc of superior rights,
should be compelled TO make its pri-
vate business transactions public, rs
one Of those conundrums hard TO crack.
The impotency of the law is best illus
trated in the f&ilure of most instltu-
tons to comply with it, and yet II is
there and like all laws good or bad
should be obeyed until repealed or pro-
noanced invalid.
The only c lcern in this city yet
filing its aunu4. statementin the county
clerks Office, in pursuance of the
statute is the Grand Rapids Packing
company. Until this report Is pub
lished in newspaper, the law is only
half complied with. The law reads:
Sil39. Sec. IS. Every such company
manufacturing company shall An
nually, within the mcntn of January,
make report, which shall be pub
lshed in some newspaper in the town,
city, or village, of if there be
no newspaper published IN said town,
city or village, then In some newspaper
published nearest the place where the
business of said company is carried on,
which shall state the amount OF capital
and of the proportion actually paid in,
and the amount OF it's existing debts,
which report shall be signed by the
president and a majority of the trustees,
and shall be verified by the oath of the
presidentand secretary of said company,