Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-05-02
! FILING FEE sCALD.
TCharIea Civ Press Il

Interest to the people Of Iowa Will be-
found in the two heavy capitalized cor
operations about to be organized here,
to Wit the Electric Railway Company
end the Hart Parr Gasoline Enigma
Manufacturing Company. and the law
of Iowa governing the filing and record
ing of their articles OF Incorporation.
Under the provisions of section 1910 Of
the Code of Iowa for 1897. the articles
must be signed and acknowledged by
the incorpnrators. filed and recorded III
the recorders Office of Floyd county and
then filed and recorded in the office OF
the secretary of state at Dies Moines
and from the lattera certificate Of incor-
poration must be obtained. Before this
secretary of state will issue such certi-
ficate each corporation must pay him a
fee of S25 and an additional fee of 81 for
each $1,000 Of authorized capital stock
in excess of 10000 and these two COR
rorations will therefore pay filing and
recording fees as follows:
Each to Floyd county recorder 50
cents for the first 400 words and 10 cents
for each 100 Traditional words or fraction
thereof.
Each to the secretary of state, a fee of
s25 and 81 additional for each $1,000 of
authorized capital stock in excess of
$4,000.
Therefore, the Electric Railway Com
ipany. with an authorized capitol of
100000. mus. pay the county recorders
fees ard $3.50 to the secretary of state,
and the Hart Parr Company. with a
paid up capital of 100000 must pay the
county recorders fees and $115 to the
secretary of state before a certificate of
incorporation Will issue to either of
them
For doing practically the same work
for which the county recorder will re-
'ceive, perhaps S. 10 81. the secretary Of
state will receive $3.50 from one. and.
$ll5 from the other, or total of $3.50.
for the privilege of doing business in
Iowa, and helping TO develop the state.
The limit of the fees TO be paid the
secretary of state in any one case was
first fixed at $3.50 subsequently said
section 1610was amended and 81, 900 was
fixed as the limit for any enc corpora
ton to my. beet :...Sa. Factories. build
ing and loan associations and co-opera-
tive creamery associations alone being
excepted from this fling fee exac,ion to
the secretary of state.
This filing fee feature of the law is
excessive and ~ a scald on Industrial
development in Iowa, and should DE
eliminated.
Charles City by ordinance exempts
for ten years the property of the Elec-
trio Railway Company from all munich!
pal taxes. Iowa taxes the corporation
to death before 1t begins. instead of en-
couraging the organization of corpora
tons having in view the development of
the resources of the state and OF new
territory not provided With transporta
ton. Az rule. almost unvarying, to
organize any industrial corporation.
very large amount of work is necessary.
and, before its stockholders receive re-
turns from their investment the bust
ness must be built up by thrift. intellf-
gent and careful management and well
directed energy. During the past ten or
more years 1t has been struggle for
industrial enterprise to keep even and
the industrial wheels in motion. Herein
is complete travesty on the theory of
promoting home industry and state de-
velopment. that at the very time when
the state should extend help to such or
ganizations 1t cripples them from tho
outset by exacting an enormous filing
fee for mighty small amount of work
or esponsibility.