Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1897-04-15

that the ioGDy used any vicious inf1u-
ences 10 secure any votes against the
Temple amendment
Another sensation was promised
earlier IN the week, but has not devel.
oped as yet. The amendment propos ed
20 the cigarette bill. as stated il my last
letter. was reported TO the senate during
the absence of Senator Phelps. who is
the author Of the present aEticigarette
legislation No action was taken upon
the amendment until his return and hs
at once announced that he should night
the proposed change bitterly. Senator
Phelps heart is set on maintaining pro.
hibitive legislation against coffin nail"
and he says ne has been approached by
agents Of the tobacco trust number Of
times during this session asking him to
consent to modification of the pl esent
law He states that he has persistently
refused TO listen to any such Emporium
tiles and declares that during his alb.
sence the trust representatives by claim.
ing to the committee that they had his
consent for such an amendment secured
its passage in the committee. The sem
ate has not yet acted upon the report
and it is probable that the old law will re.
main as it is with the addition of mulct
penalty of $500 to be assessed against
the property of anyone violating the
law. Senator Phelps does not believe
that the proposed amendment, which
practically invalidate the present law,
will be adopted, but he says il it be-
comes necessary he will expose the
methods of the trust representatives on
the floor of the senate. He can tell q
startling story II he so decides.
House Passes Revenue Bill.
The house has finished its considera-
tion of the revenue bill and passed the
measure. In addition to the adoption
Of the provisions Of the Indiana law for
the assessment Of telegraph and tele-
phone lines, express companies and
palace car companies. it amended the
law SO as to double the license fees to be
paid by peddlers and to more fully Sc
cure the assessment for taxation Of
personal property owned in the state by
residents Of other states. The taxation
of insurance companies was amended so
that foreign companies with headquar.
tiers outside the United States are re-
quired to pay per cent on their gross
premiums received from business done
in the state and companies having head
quarters in the United States outside of
Iowa are to pay 21a per cent
The senate amended and passed the
insurance bill. The valued policy sec.
ton, which was added by the house.
was stricken out, as was also the section
providing that in case of recovery
against an insurance company the com.
pany should pay the attorneys fee of
the plaintiff.
Both houses have agreed ON the bill
providing for the care of thesinsane and
she salaries of superintendent of insane
hospitals are fixed at s., 900 per year.
The senate adopted a number Of rad
ical amendments to the building and
loan association bill. AS will be re-.
membered. this bill passed the house at
the time of the excitement over the pub
LEGATION Of the Jackmsn letter. and the
house adopted the amendment to the
present law, which provided for the
right OF appeal by any building and
loan association from the action of the
executive council in regard to their
articles Of incorporation and bylaws.
The right OF appeal was to the district
court of Polk county. Another part Of
this section which was inserted by the
house provided that no member Of the
executive council who an officer or di.
rector in any building and loan associa-
ton should be allowed to pass upon the
articles of any other association. The
senate considered this amendment care.
fully and finally decided to strike it out.
The chief objection to it was that wild
cat companies, who could not get the
sanction of the executive council, would
be able to do business pending a de-
cision in the courts, and might, in
this way, secure business on q
plan which no other company would
be allowed to follow. One important
amendment which was offered by Sem
ator Healy was adopted, providing that
when building and loan associations
bring suit for the collection of money
loaned members and secure a judg.
ment, there shall be no greater recovery
than the net amount of principal act
ually loaned with interest no greater
then - per cent per annum on the net
amount of the loan with statutory at
torney's fees. 1t was also provided that
there shall be no evasion of this section
by means of the imposition of fees, fines,
forfeitures or other penalties. The bill
is also amended to require the secretar-
les of the different associations to fur
nish each member with statement
showing the present value and surrender
value of the stock owned by him on
Jan. of each year. The section which
provides that membership fees and ex-
penses incurred in making loans shall
not be considered part Of the expenses
of the association was stricken out.
This is to prevent an undue increase of
the actual expenses by means of items
charged to other funds. In regard to
prepaid or investment stocks an amend
ment was adopted providing that asso-
Citations shall not pay in dividends or
interest more than per cent on such
stock. An effort was made to prohibit
associations from charging to exceed
per cent interest on loans, but it failed
of passage. There is a motion filed,
however, to reconsider the vote by
which the bill passed the senate and it
is understood that the object of this
motion is to attempt to secure the inser-
ton of an per cent interest clause.
The house printing committee, to
whom was referred the reports from the
committee to investigate the offices of
state printer and binder. has decided to
hold open sessions. and will probably
continue the investigation Of these
Dc o1>ol III