Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1901-03-07


the governor for his signature is one
OF the most important bills that has
been passed at this session. Under
the old law, a corporation chartered to
do business in Kansas was compelled
to pay one-tenth of 1 per cent in the
first 500, 900 of its capital stock; one
twentieth of 1 per cent in the next
100000, and on each additional mill
lion $780,
After a corporation was chartered
to do business in the state and desired
to increase its capital stock, section Z
provided for the payment on such. in
crease the sum of one-tenth of l per
cent, thus compelling a corporation to
pay a larger charter fee for increasing
its capital stock than on its capital
stock when it applied for charter
The new law provides a charter fee
of one-tenth of 1 per cent of the first
100000, or any part thereof. and one
twentieth of 1 per cent on the next
100000, and for each million or major
| part thereof over and above the sum
| Of $500, 000, fee Of 5000.
Section is idenI4cal with section 6
| SO far as fees for increasing the cap
| ital stock of me corporations are
concerned.
Under the old law, if corporation
fails to report, there is no penalty
| compelling it to make such report.
| the new law provides that the failure
of any corporation to file its state
ment within ninety days from the
time provided for filing the same shall
work a forfeiture of its charter, and
| the board may at any time thereafter
| declare the charter Of such corpora
| ton forfeited and upon the declara-
| ton of such forfeiture it shall be the
| duty of the attorney general to apply
| to the district court of the proper
! county for the appointment of a re-
ceiver to close out the business OF
such corporation.
Such failure to file such statement
| by any corporation doing business in
the state and not organized under the
| laws of the state, shall work a forfeit
ure of it's right or authority to do
! business in the state, and the charter
| board may at any time declare such
| forfeiture, and shall forthwith publish
| such declaration in the official state
paper.
There are between 1000 and 5000
corporations chartered under the laws
of the state of Kansas. OF this num-
| Der, not to exceed 700 nave ever filed
| reports with the secretary Of state.
because of the Objectionable character
| of such report, it being necessary for
| the officers of the corporation to file a
detailed statement of the receipts and
| expenditures, loss or profit during the
| year, and, in fact, the fullest state
ment possible of every transaction Of
| whatever character done during the
| year by such corporation.
| In the new law, the character of
| this statement has been modified, and
the only information sought is as to
the solvency and responsibility of .Ae
| concern.
AS soon as the legislature adjourns,
new blanks will be prepared and sent
Que from the office to the secretary of
state, and unless reports are made at
the time specified by law, the predic-
ton is made that great many cor
porations will find their charters an
nulled, and be put to an endless
amount of trouble.
Upon, motion of Giessler, of Logan,
the house Wednesday afternoon adj
vanced all bills recommended by the
revision committee under general or
ders to third reading and the entire
afternoon was spent in the passage of
bills. Among the most important ones
passed were the following
By Giessler-Relating to the oragn-
ization of trust companies.
By Smith-Providing for compi1a-
| C4OA cIA0 cIAAOIdI1OA VI LnS IAcnScdS
laws.
By Seaton-Making train robbery
punishable by Imprisonment from ten
years to life.
By Scott Authorizing the transfer
Of moneys from one fund to another
in the state treasury.
By RiIing-To mack it a crime to
steal rides on trains.
By Remington-Maikng it peniten-
tiary offense to steal chickens.
By Grattan-To exempt fraternaI
associations, mutual benefit life insur-
ance companies, mutual fire insurance
companies, mutua laccident insurance
companies, mutual building and loan
associations, organized under the laws
Of the state of Kansas, their agents
and representatives, from city license
tax.
Lul1ing's bill creating the office OF
state fire marshal was defeated upon
roll call.
Among the bills passed Wednesday
mornin gwere the following:
! Appropriating money to buy addi-
tfonal land for the industrial school
for girls.
Appropriating money to buildla Hew
cell block at the Hutchinson reforma-
tory
Appropriating money to complete
the state house"
Appropriating money to build and
equip museum building at the state
university.
Appropriating money to support the
Topeka insane asylum.
Appropriating money to support the
Quindaro coIored university. This
bill carries $22, 900.
To provide for the establishment OF
gates in large ranches in Western
| Kansas.
To prohibit the maintenance Of a
slaughter house within one mile Of a
| Efafn institution