The Montgomery tribune. (Montgomery City, Mo.) 1892-1910, 1902-01-10
NASH ON CORPORATIONS.
The Governor Of Ohio Gives His
Views on Corporations In His
Annual Message.
THEIR AFFAIRS SHOULD ALL Be PUBLIC.
pubtt,i,y vu..id Not InIurc ~ Really
worthy aud sound Corporation
aud would Protect the Public
Against Unworthy aud Failing
Corporations.

Columbus. o., Jan. THE Ohio leg
islnturc convened in biennial session
Both branches elected the officers
nominated ut the republican caucus
Saturday evening. At noon the an
nunl message of Gov. Nash was read
in both the senate and the house. IL
was noted for its recommendations OF
a new system Of taxation. under
which all taxes for state purposes are
10 be- raised from corporations, fran.
chiscs. the liquor traffic, etc. and d.
rect taxation for county. municipal
or other purposes are to be left to
the counties. II Is a system of home
rule In local taxes. Gov. Nash has
this To say about corporations:
During the last 1--WE years much
has been said on the question as to
how corporations should be rcgulat'
ed and as Ia how evils which arise
from the misuse Of corporatin fran
chises maj he minimizcd or entirely
overcome. Many have thought that
publicity IL the only surc remedy.
because they are created by the
state. and possess certificates bear
ing the impress Of her seal. people
nrc led 20 believe that they ARE safer
Ia do business with and are more en-
titled Ia recognition than nrc part
ncrships and individuals. In very
many eases they are less worthy Of
confidence. They are authorized by
the state Ia do business before one
dollar Of capital stock has been paid.
This II an unfortunate condition oi
affairs. The state, before she gives
these corporations her approval and
permits them to do business. ought
10 require that all their capital stock
he paid In money aud invested In the
business they propose To transact.
They ought Ia make sure Of this fact
by n report mndc to some competent
officer. We should go further aud re-
quirc these companies to make nm
nual reports. to he filed with and u,
inspected by this office. This rcpor,
should show. among other things
how much OF the capital stock Ia,
been paid, how the money Is invested
what the assets are. the amount al
liabilities aud the names of the stock
holders. In fact, there should h,
such u record ~ every corporation
that the people may know at al
times whether II Is worthy of credit
such regulations, Ohio corporation
would he placed upon a solid iinancin
basis.
'"rhc publicity which would be- Civ
en- 10y such action could not, 10y AM
possibility, inIure n really worthy ant
sound corporation. IL would protcc'
the public against unworthy aud fail
ing corporations. As matters nov
stand, the secretary 81 state know.
nothing about n corporation after
leaves his office with u charter from
the state. lie can not even tell how
many Of the 10000 or more corpora
tions chartered 10y the state durinI
the last 80 years are now dead. no
how many ARE still living. The stat
creates the thing, authorizes II to d,
business, sends IL out In the cold. an,
knows nothing more about IL forever
II IL high time that u change shout
he made"
The governor called attention T.
the invitation extended to Ohio T.
take part In and make nm exhibit a
the 81. Louis Louisiana Purchase eN
position, saying II would be discrcdii
able to Ohio not to be properly rcp
resented.