The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1902-01-10
Nash On CORPORATIONS.
Tho Governor Of Ohio Gives His
Views on Corporations In His
Annual Message.
THEIR AFFAIRS SHOULD ALL Be PUBLIC.
punuscstx would Not Injurc "a Really
worthy and sound Corp"rats""'
and would Protect the P""iac
Against Unworthy and. fahi"a
Corporations.

Columbus, o., Jan. THE ONO leg
islature convened in biennial session.
Both branches elected the ofhcers
nominated at the republican caucus
Saturday evening. At noon the an
nual message of COY. Nash was read
in both the senate and the house. III
WAS noted for its recommendations OF
a new system of taxation, under
which all taxes for state purposes are
to be raised from corporations, fran
chises. the liquor traffic, etc. and di-
rect taxation for county, municipai
or other purposes are TO be lett 70
the counties. 1t is a system of home
rule in local taxes. Gov. Nash has
this 10 say about corporations;
During the last two years much
has been said on the question as &c
how corporations should be regulat-
cd and as 10 how evils which arise
from the misuse of corporatin fran
chises may he minimized or entirely
overcome. Many have thought that
publicity is the only sure remedy
Because they are created by the
state, and possess certificates bear
ing the impress of her seal, people
are led to believe that they are safel
to do business with and are more en-
titled to recognition than are part
nerships and individuals. In very
many cases they are less worthy oil
confidence. They are authorized by
the state to do business before one
dollar of capital stock has been paid
This is an unfortunate condition OF
affairs. The state. before she gives
these corporations her approval and
permits them to do business, ought
to require that all their capital stock
be paid in money and invested in the
business they propose to transact
They ought to make sure of this fac,
by report made to some competent
officer We should go further and re
Quire these companies to make an
nual reports. to be filed with and bs
inspected by this Office. This report
should show. among other things
how much of the capital stock has
been paid, how the money is invested
what the assets are. the amount OF
liabilities and the names OF the stock
holders. In fact, there should b'
such a record of every corporation
that the people may know at al
times whether it is worthy of credi
and confidence. ] believe with SOM
such regulations, Ohio corporation
would be placed upon solid financial
basis.
The publicity which would be civ
en- by such action could not, by an.
possibility, injure a really worthy an
sound corporation. 1t would protec
the public against unworthy and fail
ing corporations. As matters nov
stand. the secretary of state know
nothing about corporation after
leaves his Office with a charter fror
the state. He can not even tell ho'
many of the 10000 or more corpora
tions chartered by the state durin
the last so years are now dead. no
how many are still living. The stat
creates the thing. authorizes Il to d
business, sends ii out in the cold, an
knows nothing more about it foreve
1t il high time that change shoul
be made"
The governor called attention
the invitation extended TO Ohio
take part i'm and make an exhibit {
the St Louis Louisiana Purchase G.
position. saving il would be discredi
able TO Ohio not to be properly re
resented.