Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-01-09

known as Trusts. l do not think this
objections obtains. In amending the
corporation law, a proper provision
could be inserted for the control or
dissolution of Trusts. Whether a Cor
poration is a Trust or not is not to be
judged by the amount of its capital
stock. Indeed a Trust is as likely to
be formed out of a number OF small
corporations as to be embodied in one
Of large capital. This is an age of
large enterprises, requiring large capl-
tai. and many good corporations have
been compelled to turn away from the
juster and more liberal laws OF this
State to other States, because of this
limitation as to the amount of capital
stock. Several corporations which were
formed in this State have been COM
PEELED to withdraw from the State, to
be re-incorporated elsewhere because
their business demands a larger CAPT
tai stock thar was allowed by our laws.
| would not suggest any provision that
would facilitate the formation OF
Trusts. but, as i have stated before,
whether a Corporation is a Trust or
not is not be judged by the amount Of
it's capital stock. The of this
State from the license tax on corpor-
atoms should be much larger than 1t
is. New Jersey receives from this
source, more than $4,000, coo a year,
and is thereby enabled to forego any
State tax on land and personal prep
eTty.
In addition to the amendments |
have suggested, there should be an
other which would increase the amount
of license tax on corporations having
a certain amount Of capital stock, and
this tax should be graduated in pro-
portion to the amount of capital stock
actually paid in. Our corporations
now are divided into two classes as
concerns the amount of annual license
tax paid to the State, and are popular
ly called foreign" and domestic
corporations. A domestic corporation
is one having it's principal Office or
place of business within the State, and
it being presumed that IL corpora
ton will have It's property or at least
it's personal property located in the
! State to be taxed for State, county and
district taxes, it is charged but ten
dollars per year license tax. A for
eign corporation is one having its prin-
cipal office, or place of business, with
out the State, and it being presumed
that such corporation will have no
property within the State to be taxed
as such, it is required to pay $50 a year
license tax. The law as to what is a
foreign corporation and what is a DO
nestle one needs to be amended, as
many corporations have been chartered
within the State as domestic corpora
tons, and are paying but ten dollars a
year license tax, that in fact are for
eign corporations and should pay nifty
dollars. Under the present admins
tration thas practice has been dropped
as far as possible, but the officers have
had to do so by rather arbitrary
means, and on the broad ground tnat
it was their duty to protect the State.
| see no reason why, with proper
amendments to our laws, West VIZ
ginia should not receive at least a
million dollars a year from the license
tax on corporations, and if this result
is accomplished, the State tax on the
property of the citizens of the state
could be largely reduced, and in course
of time entirely abolished. I sincerely
ask that this matter receive your care
full and earnest consideration
The Governors argument in favor OF
the foregoing is that State revenues
must be increased to meet growing de-
mands. and the increased incorpOra-
ton business and tax thereon would
give this revenue without increasing
the tax rate, which he says must other
/, wise be done.
The Governor begs the Legislature to
redistrict the State justly and wisely
and without political consideration.
He declares the constitution needs
amending and leaves 1t to the Legis-
lature to decide whether a constitu-
tional convention is needed. A strong
recommendation in favor of compul-
sorry education is offered.
To the end that election frauds may
be prevented. these amendments to the
election law are suggested:
y. After the election officers have
declared the result at each precinct, the
ballots should be Immediately destroy
ed, in order to prevent post-election
frauds. 2. Our present law, which
makes the one who buys and the n
VINO sells a vote equally guilty. should
be amended SO as to afflx a severe PEN
atty only upon the seller. and not upon
the buyer. In this way collision will
be entirely shut off, and the voter who
barters his highest right as an Ameri-
can citizen can be convicted Of the
crime; and. 3. Every candidate for a
public Office. either il. a primary or a
general election rsnould be required to
submit an exr tnse account under oath,
showing the amount of money expend-
ed by himself personally. or through
any agenc or friend for election pur-
poses, end making it a felony for him
to sromit a false of evasiye state
mevt."
Tt is urged that the advisory board
4iof pardons be given the powers of
courts. a clerk and bailir, and be paid
1910 a day while In session.
Concerning the ~Irreducibie Schoo'