Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1900-01-12

affaIrs. In order to pay the interest uron this
Indebtedness. the people OF our municipalities
are compelled 90 raise by taxation n sum OF
money apnroximating s., 900 COO annually. Some
encouragement would be found IL preparations
were being made to lessen this Indebtedness
in the near future. 1t seems rather to be the
tendency to constantly increase It This is
field in which the general assembly can do
good work. At every session numerous bills
are introduced, which, II they become laws,
authorize the borrowing OF money by municl- |
palities. Legislation OF this character can
| given the form and force OF law 1t should |
not be permitted to go through on the plea
| that It Is purely local measure"
| This subject leads up to another matter |
| which is of very great Importance. There |
are certain kinds OF legislation which are for
| bidden by the constitution of the state. I'm |
| less experiences In the future differs from |
what have had in the past. many measures
| of this character will be presented to this gen. |
| eraI assembly. Too much care cannot be
exercised in keeping them from becoming q
part OF our statute hooks. Frequently they
| are intended for the malig of local improve
| ments for which money n to be raised by issu-
| ing bonds-ultimatey to be paid by he peo-
pie. Such laws burden our courts TO the great
| detriment OF their legitimate business. They
| sometimes invege unwary investors, and the
holders OF trust funds. into investing money
| in WORTHLESS securities Every unconstltu-
| tional law causes the people to lose confidence
| in the wisdom OF the fundamental law OF the
| state. which confidence Is necessary TO their
| contentment. All members OF the general as
semby. whether attorneys or laymen, should
set their faces like flint against legislation of
this character, matter how strong may be
the pressure and how urgent may be the plea
that 1t is only a matter limited in its Import
ance.
Every year the amount and magnitude OF
the business being done by corporations organ
lied under the laws OF Ohio are rapidly in
creasing. Under our present laws, corpora
tons may be created for any purpose for which
individuals may lawfully associate themselves,
except for carrying professional business
These artificial persons except insurance com
panies. railroad companies building and loan
associations and certain barking companies.
| tfraII aFpth htrtl auta
and make no reports to her officers Large
mining. manufacturing. commercial and other
enterprises are carried on by and through
them. Because they created by the state and
possess certificates bearing the impress OF her
seal, people led to believe that they are
) safer to do business with and are more entitled
to credit than private partnerships and in
r dividuals In, very many cases they are less
worthy OF confidence. They are authorized by
the state TO do business before dollar of
, the capital stock has been paid. This is an
unfortunate condition of affairs. The state
r before she gives these corporations her ap-
oroval and permits them to do business ought
= to require that all their capital stock be paid
: In money and invested in the business they
1 purpose to transact She ought to make sure
r of this fact by reports made TO some competent
3 officer. We should go further and require
n | these companies to make annual reports to be
3 iled with and be inspected by the officer indi-
A Gated above. This report should show among
: other things how much of the capital stock
q has been paid. how the money Is invested,
!, | what the assets are. the amount OF liabilities
! and the names Of the stockholders. In fact,
. |
q tion that the people may know at all times
/ whether 1t is worthy OF credit and confidence.
Q I believe that with some such regulations as
Il | have Indicated Ohio corporations would be
placed upon solid financial basis.
J. As a condition precedent TO foreign CORPORA
e tions doing buiness in Ohio, the general as
r semby may make proper regulations for their
II control. They should be required to maHo to
" the proper officer as complete disclosures In
a regard to their financial conditions and busi-
l. ness as have suggested in connection with
m domestic corporations. Wise regulations VIII
y do much toward wardlng on the evils which
To- IL is feared will come from the very extensive
m business now being done by large corporations
IN in this state In the above suggestions I do
~ not claim TO have prescribed n remedy for all
- our ills. / have done but little more than
n call your attention to this subject, in the hope
"a that this general assembly will have the wis
=, dom TO devise additional laws in regard to
a corporations which will be OF great benefit to
n the people and legitimate enterprises.
During the last Is years many laws have
M been enacted in this state calculated to I'M
ne prove the condition OF the laboring classes.
e. These laws have been OF great benefit TO the
ts | people, but are by no means perfect. There
40 will undoubtedly be other legislation OF this
,d character proposed this year. and 1 trust and
a believe that it will receive at the hands OF the
he general assembly the most careful consldera-
"a .tion. / believe that such consideration will
- greatly promote the welfare OF a very large
r proportion OF our citizenship.
s. 1t has been provided that Ohio centennial
We shall be held at Toledo in the near future
al 1t is my desire that this celebration OF the one
n hundredth anniversary OF the a1.nisson o.
ar Ohio into the Union shall be made as success
an ful possible. and Join with Governor Bush
n nell in asking this general assembly 10 appro
ly pirate the sum of s50o0o0 to be expended II
nd such manner as may be prescribed by YOU
e. This is large the state ought Il
.ir expend in this direction.
In his last message TO the general assembl,
%. Governor BushneA gives succinct and com
,rt ple,e history OF the patriotic part maintained
m' | by Ohio in the recent war with Spain Ou
H' National Guard cannot be given too mucl
- credit for the eagerness and vigor with whcl
W. they came to the assistance of the presiien
ttarh hn 1IaA srNaV
". | war. II became the duty OF Governor Bush
al al nell and those associated with him to assembl
en- these volunteer soldiers and to place them II
", condition to enter the service OF the Unite
ot States. In the discharge OF this duty til
of governor displayed most admirable qualities
ss' and for the patriotic work done by him In tn
" spring and summer OF 1898 he should ever b
20 held in grateful remembrance by the people Q
Ia Ohio. ! desire also to publicly thank Cover
Jus nor Bushnell for the kindness he has shown 4
M m making my induction into the Office OF soverno
lsh the most pleasant possible.
pe pe In closing this address. wish to express fc
Gu, , the people of Ohio the fervent desire that
~ the years to come the public peace will not b
,a ,ra disturbed. the laws will be obeyed. and thei
~, @ prosperity and happiness will be promoted
,ho The ceremonies ended with selec
ow tion by the Glee club. After the inaue
the uration of Gov. Nash the senators wen
md to the senate chamber, where Lieut.
for Gov. Caldwell was installed.
", Owing to the absence of Mai. Gen
ure Dick, the national guard in the parad
yas vas was commanded by Brig. Gen. Nc
ave Maken, senior brigadier.
nor Although the parade was larger tha
m any that has been given in honor c
an incoming governor, it was not a
the the large as had originally been hoped
at However, there were a good man
an thousand men in line, few less tina
la so l,,,, h,nds ,,a . .,,.4 -. :.
asst ." Va "S' ~ ''iN Sio"s nany ci'i
are and Seml-mllltary organizations,
and say nothing of the mammoth indu,
ent trial display.
to
,tal Waited Years for Trial.
hs Havana, Jan. 9.-The prison invest
ties cation being carried on by Judge Ac