The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-02-03
Sleepy Eyes "Revenue Raiser"

1t is fortunate that a corporation
measure that has just been favorably
reported by the senate Judiciary COM
mittee was introduced by a Republic
an. otherwise the fact might have
been heralded as one Of those violent
attacks upon capital, such as Kansas,
for instance. might have planned. The
bill In question requires every cor
poration for pecuniary profit" organ
lied in any other state to maintain a
public office in this state for the trans
action of its business, to appoint an
agent authorized to accept service Of
process and to pay tax upon the pro-
portion of its capital stock represented
by its property and business in this
state.
In so far as the first two require
ments are concerned. they are prac-
tically eXacted by existing statutes,
with this distinction, that the pro-
posed nsHv law applies. in the matter
of taxation. to all foreign corporations
already established in the state If
the father of this bill intended that 1T
should operate solely as a revenue
raiser he has failed to accomplish
his purpose. 1t will do far more than
that-it will raise a financial disturb
ance sufficient to startle capital that
has been moving from other states into
Minnesota, under the impression that
this was at least a conservative state
Note the language of the taxation"
section:
Every corporation shall file articles of
incorporation, duly authenticated by the sec
10 kn tot -1.o,.
proportion of the capital stock of said corpo-
ration, which is represented by it's property
located and business transacted in the state
and such corporation shall be required to
pay into the state treasury fifty 60l dollars
for the first fifty thousand (5O,O0W dollars
or fraction thereof of such capital stock, and
nVe 90 dollars for every additional ten
thousand 100000 dollars or fraction thereof
No increase of the capital stock Of any cor
porahon shall be valid or effectual until such
corporation shall have paid into the state
treasury the sum of five (5) dollars for every
ten thousand 100000 dollars or fraction
thereof of such iHcIea
If such measure will not impair the
growth of business depress the value
of property, and provoke a tendency.
at the head Of the lake, for instance.
to drive enterprise and financial back
ing over into Wisconsin, then. it seems
to us, nothing else will. West Su-
perior is not so far away from Duluth
that transportation company, for in
stance, compelled by such legislation
to submit to unjust taxation, might
rot readily avoid even stopping it's
boats at Duluth. Duluth business men
who were then obliged to haul their
goods all the way from West Superior
to their own stores might indeed con-
denim Somerville, of Sleepy Eye, coun-
ty of Brown, for imposing a heavy ex-
pense upon them, but how would that
relieve their pocketbooks, provided such
bill became a law?
The state of Minnesota is not so poor
that it needs to impose heavy burdens
upon foreign Corporations for pecun-
larry profit" of any description Least
of all can it afford to impose unjust
taxation. Railroads and certain local
corporations are undisturbed by this
bill, but every other company engaged
in any kind of business here, the whole
or part of whose capital is furnished
by individuals organized in any other
state, will be seriously affected. The
Sleepy Eye statesman should be sat
upon by his associates