Alma record. (Alma, Mich.) 1878-1928, 1897-01-15

law so as To abolish party conventions.
Would have the party voters vote d-
rect for candidates.
TAXATION.
State expenses should be made as
low as possible and state institutions
should be conducted economically.
The specific taxing of corporations
should be changed SO that all may bear
their just proportion of taxation.
RAILROAD TOLLS.
Recites the acts of previous legis
latures fixing railroad rates and the in
CAPABILITIES now existing in passenger
rates and recommends the considera-
ton of reducing the fares to two cents
a mile.
REFERENDUM
Believes that it might be well to re-
quire important acts of the legislature
submitted to the people for approval
DelOTe OecOulnP laws.
TRUSTS, ETC.
Recommends that strong laws be en-
acted to prevent the growth of trusts
and combinations.
BONDS AND BOND ISSUES.
Thinks that the state should enact
such laws as will throw proper safe
guards around every corporation, eX-
isting or to be formed that will prevent
the issues of watered stock and will
guarantee to investors a certainty of
value. He also recommends the in
crease of liability of stockholders indi-
vidually to an amount equal to the diff
ference between the paid up stock and
the debts.
CORPORATION SUPERVISION.
Recommends a corporation commits
sioner whose duty would be to investi-
gate books of corporations and report
exact assets before franchise was issued.
Would also favor fixing selling price of
first issue of stock as an additional safe
guard. There should be proper super
vision of books after beginning BUSH
ness.
TAX LAWS.
Believes that there should be some
changes in the tax laws whereby unjust
determinations may be avoided. A
tax board appointed by the governor
whose duties would be to assess corpor-
ations is proposed and the suggestion
is made that the taxation of mortgages
be repealed. Proposes that law be
passed forbidding cutting timber upon
land having taxes unpaid.
STATE INSTITUTIONS.
Does not believe in false economy
but advocates careful management.
Supplies should be bought inside the
state.
THE UNIVERSITY.
The State University should be sus-
tanned in such a manner as will enable
it to maintain its present high position.
PUBLIC FRANCHISES.
He would suggest the follow.
ing amendments to the laws per-
hitting the granting of franchises to
public corporations such as street cars,
electric light, telephone and gas COM
panies.
/. Reserve the right to fix rates of
tolls or charges.
2. Let the construction of the plant
of every such corporation be under the
supervision of the municipality, so that
the actual cost shall be known.
3. Provide that no mortgage shall
be executed and no bonds issued TO
greater amount than one-half of the
actual cost of the plant.
4. Require the corporation each
year to file sworn statement of its re-
ceipts and expenditures. certified by
public accountant who shall have ac-
cess to its books.
5. Provide that there shall be no
consolidation CT one company with an
other, and that no individual stockhold-
er of one company operating in the
same city.
6. Provide that no franchise or IL
cense now existing or to be granted in
the future shall be renewed or extended |
beyond the terms of the original grant.
Z. Provide that no franchise of the |
character above enumerated shall be |
granted by an municipal authority with
out being submitted to vote of the
people.
TELEPHONES.
There is no such thing as a natural
monopoly IN telephone any more than
in railroad or telegraph service. In
addition to what | have already SAID |
under the head of public franchises.
make the following suggestions as to
telephones:
/. The law should permit the fixing
of telephone rates by the local authori-
ties in each municipality or town.
2. All companies should be required
to charge the same price for the same
service and no one should be permitted