The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-01-27

taxation. Such stock is exempt from dues.
cases are recited where capitalists with
at 5l3 per cent. and Immediately invested
1t in per cent paid up stock, which they
on short notice. A man with credit and lit
re cash could speculate very handily IN IN
tn this manner; On the other. hand, It Is
SHOWN that the association can go TO bank
and borrow money at almost as low a rate
OF interest and lend it in turn to borrowers
when the premium is considered. On pre-
paid stock only half of the face
o oalee Of the stock is paid at at
the earnings and withdrawing when the
race value is equaled by his first deposit
such stock being assessed for taxation, al
though men who are investigating the sys-
tenn insist that such stock should be as
sessed at least on the amount first de-
The bill now before the house, as stated
before, prohibits the use of the dues for
the general expenses. providing that the
expenses be paid out of the profits. In
many cases the dues are deducted from the
able to ascertain the exact earnings of his
stock. If he pays a dollar month on
s s93aae 10 cents OF this goes Tor the expense
vestment has earning capacity. A case
Is reported where one association loaned
ssO,000 in a given time and the expenses for
that period were 1900.
A circular issued by Charles Kahlo of the
indiana Mutual, has found its way into the
shareholders to bid off money at a high
premium. He holds that there should ee
average number of investors to that of
borrowers is about ten to one, and the
of the association on those who borrow. He
opposes admission fees. Some State aSSocia-
tons have agents throughout the State
who received the admission fee their
commission. Mr.. Kahlo shows that his as
ISOLATION has transferred from the expense
fund to the loan fund ss3. $50 and $500 to
the reserve fund He does not think it best to
abolish the expense fund, many 9TH
eps insist, but holds that a published state
ment should be made at intervals detailing
these expenses, SO that the shareholders
may see exactly what they are paying to
their officers.
The ways and means committee, at it's
last meeting. surrounded by group
of prominent indianapolis men who are in
terested in these associations. They insisted
that the committee act slowly in recon-
mending changes in the present law.
Senators Have Gone Home.
Nearly all the Senators were out of town
yesterday. The Senate chamber was open
but it deserted save by the clerks and
other employees and there was a. noticeable
paucity of senatorial talent about the lob
bies of the hotels. The Senator's who went
to Bloomington went from there to their
homes and the members of the upper
branch who went to call on Warden French
Will not return until some time to-day.
Many of the Senators whose committee
alignment did not include them in the
Bloomington or Michigan City junkets had
not been to their homes since the session
began and the adjournment until Monday
afternoon at o'clock offered to many a
much needed opportunity to go home and
attend to neglected business affairs.
Legislative Notes.
The Messrs. Hauser. Carson and Oster-
man. trustees, and Dr. Edenharter, superin-
tendent of the Central Hospital for the In
sane, called upon Governor Matthews yes
terday. The nature of the call it is believed
had something to do with the proposed
organization by the Legislature of the hos
pital management.
The ways and means committee of the
House has asked Secretary Bicknel of the
State Board of Charities to make report
upon the number of veterans now living in
the poor houses Of the State. This informa-
ton Is wanted in connection with the ex-
pected report in behalf of the State soldiers