Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1901-02-17
LEGISLATIVE SESSION ALMOST COM
PLETED, AND LITTLE OF VALUE
ACCOMPLISHED.
SECRETARY DAwSON'S BILL.
AND ITS EFFECT ON REVENUES,
THE Willy SECRETARY THE CHIEF
BENEFICIARY OF THE NEW
TAXES TO BE LAID.
EXPENSE BILLS IN DETAIL
THEY PROVIDE FOR APPRoPRIA-
TIONS FAR IN ADVANCE OF
PREVIOUS MEASURES.
Special to the Register.

w. va, FeDfudry 10.
But five working days remain of the
present session of the Legislature, and
1t is doubtful if any previous assem-
bly, in the State ever had so little done
SO rear the end of the constitutional
term. What has been accomplished
has been put through with indecent
haste, much of it being crude, uncer-
tain and of doubtful meaning. The
session has seemed to be a hard work
ing one; there have been compare
lively few hours wasted in discussions,
and it is hard for ever the old legis-
lative stager to say what has become
of the time. With all the talk of DEM
ocratic obstruction, there has really
been very little INDUCED in, for two
reasons: first. the gag rule has been
too easily set in motion; second, the
minority has not wanted to obstruct
proceedings. 1t has stood out a few
times for rights that are guaranteed
TO members by the constitution, SIM
ply because they deemed it their duty
to do so, but for the most part they
have done all they could to facilitate
business and have been ready at all
times to help along m~eritorious meas
ures, no matter from whom they en-
anated. Yet the time has about gone,
and the harvest is small as yet.
There Was Great disappointment
over the general appropriation bill. So
many members were fondly hoping
their sections would be handsomely
remembered, only to find they had been
ANONYMOUSLY ignored, that there is
rather more soreness than usual over a
measure OF the kind. So much has
been said about the States great
wealth and big surplus that a good
many members believed there was &C
tually a pile Of money in the treasury,
and think the reason their apprCpria-
tions were turned down was because
OF some personal dislike to themselves.
Hence the dissatisfaction.
The Dawson corporation bill is 60
ing to prove the champion disappoint-
ment Of the year. The 'trooly Toll" are
looking to it to bring in great gobs of
~AOANy W An itoouly anu lntI dI0
going to find out they have been de-
ceived. The calculations made for a
large increase in revenue are based
upon premises that will be found I'M
tenable. The promoters of the measure
took the number Of the corporations
operating under West Virginia char
ters, and the capital stock authorized,
n then applying
The Graduated License Tax
to them, figured OUT what the returns
would be. Now it is well known that
corporations almost invariably place
their: nominal capital at a figure they
do not intend to approach with paid in
capital, simply because, perhaps. it
sounds big to have a big capital stock.
n heretofore it has cost no more.
But now that the law will require them
to pay in proportion to the nominal
capital, these concerns will cut their
nominal down to their actual capital
n get the benefit of the cheaper tax
rate. AS the law has been, the tax on
foreign corporations was fifty dollars a
year. Under the Dawson law it will
be only twenty dollars a year for cor
porations with less than S25, 900 capt.
tai, AS a large majority of corpora
lions do business on less thar twenty
five thousand dollars actual capital.
there will be a great many that will
cut down their nominal stock to that
figure and thus, instead OF there be-
Ing a great rush of money into the
treasury to pay the additional tax re-
CURED by the Dawson bill, there will
be a rush to take out new charters
So AS to Save Money.
by getting the twenty dollar rate in
stead of the fifty dollar rate they are
now paying. There is one purse, how
ever, that will not suffer, and that is
the q belonging to Colonel Dawson
himself. Each of the corporations that
comes In to get the benefit of the
lower tax rate will have to pay a new
charter fee, running from about $3.50
to as much as it will stand for. to help
the good secretary who, under the pre-
tense OF helping out the poor taxpayer,
has done what he could to tighten the
burden OF the rich corporation.
So that the main hope of the .Repub-