Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1896-03-12

by the auditor or some competent per-
son, and the auditor shall include q
statement of the condition of such asso-
Citations in his biennial report. "Do-
mestic locals" may be examined on petit
ton Of 90 shareholders.
Any association doing an illegal bust
ness or deceiving its members or the
public shall be notified by the auditor Of
state and a failure to correct its illegal
methods of procedure will result in its
affairs being wound up according to law.
When any other state requires other
obligations or prohibitions of building
and loan associations in this state as
condition to be complied with before
doing business in such state, the same
conditions will be imposed ON associa-
tions from such other state wishing to
do business in Iowa.
The auditor is authorized to revoke
the certificate of any building and loan
association for violation of the provi-
sions OF this act and any officer, agent
or director of any association willfully
swearing falsely to any statement in re-
gard to any matter required in this act,
shall be guilty Of perjury. And if
greater dividend than has been earned
is issued, or any officer, director or agent
shall act without authority of the board,
or shall embezzle funds or make false
entries on tho books of the association,
or solicit business for an association
which has not procured certificate to
do business, he shall be liable to a fine
not exceeding $4,000 or imprisonment
not exceeding 10 years.
This statute must be complied with
inside of 60 days FROM the time of its
taking effect and all associations organ
lied under the laws of this state must
re-incOrporate or amend their articles of
incorporation or bylaws to comply
with this chapter within 90 days. Do
nestle locals are not required to publish
their articles of re-incorporation or
amendments.
The Revenue Problem.
An important statement was made in
the report of the senate ways and means
committee last Thursday morning. 1t
showed that ON February 20 there were
warrants outstanding drawn against the
general fund of the state to the amount
of $39, 1885, II, which exceeded the amount
on hand at that date by 81. sos. SO, so that
in fact the funds for meeting the ex-
penses Of the state were overdrawn.
There were also OH hand acquisitions
from various institutions ON their sup
port funds for which warrants should
have been issued amounting to 1922, 740.
The estimated receipts for March are
$1+S, 900 and the estimated expenditures
including these acquisitions $685.
which would leave, together with the
amount overdrawn February 30, an
Overdraft On the first of next month of
$40, 1856
Taking the state of the treasury as
indicated above, it seems absolutely i'm
possible to run the state for the next
two years and make the appropriations
that would be needed without tax levy
of at least 21a mills, the assessment re.
manning upon the basis as at present. It
is fact, however, that Of late years the
assessed valuation of the state has been
decreasing. In 1894 it was in round
numbers 1855, 00O, 900 and in 1896 it had
decreased to $551 100000. Those who
know say that the reason for this de-
crease is largely found in the failure of
the assessors to properly list personal
property. The state auditor estimates
that 2 mill levy will give $851, 900
for extraordinary appropriations. The
ways and means committee report only
shows $780, available for that pur-
pose. AS the extraordinary appropria-
tons asked for amount to a million and
three quarters, some of the bills will
have to be scaled down considerably.
The committees on appropriation of the
two houses have practically agreed upon
the following plan: Those institutions
which care for the unfortunates, such as
the insane and other asylums and the
penitentiaries will be given as nearly as
possible the amounts necessary to put
them in gooi shape. This will prob
ably give 100000 to Clarinda, possibly
the same amount to Cherokee, SOL. 900
to Fort Madison, and the committees
are disposed to give the penitentiary at
AnamOSa an amount sufficient to en-
able the completion of that institution
IL this is done it is probable that the
Anamosa penitentiary will receive
about 100000. In this way these in
situations mentioned will receive about
one-half the amount of funds available
for extraordinary appropriations. The
action of the house i'll passing the bill
for a tenth mill tax for the state
university for building fund will take
that institution out of the list of most
needy applicants.
Liquor Plan ON the Mulct Basis.
The senate committee ON suppression
of intemperance has modified the manu-
featuring bill as prepared by the sub
committee so that it will require state
ment of consent signed by IS per cent
of the electors of any city or county to
enable the establishment of breweries or
distilleries therein. The bill provides
that manufacturing can only be carried
on in counties or cities where the pres
emit bar features of the mulct law are
enforced.
The house has passed the senate anti
cigarette bill with slight amendment
and it will probably become law. The
curfew bell measure which was so
actively championed by Senator Bell of
Fairfield, has been recommended for in
definite postponement for the reason
that in the opinion of the committee to
whom it was referred the present
statutes give ample authority to city