The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-12-18
Report Made to Gov. Durbin Calls At
tention to Increase In Business
Of Department..
THE FEES SHOULD BE LARGER
FOREIGN INCORPORATIONs SHOULD
PAY MORE, HE THINKS.
Annual Inspection of This Class Of
COrpOrations Also Recommended
Features Of the Report.

Since Union B. Hunt has been secretary
has accrued to the state treasury through
the office was ever received in any
preceding term. Mr.. Hunt has been able
to make the gratifying showing largely be-
cause of the enactment of the law relat-
ing to the Incorporation of foreign COM
panies, an act which he was instrumental
in having passed. In his report for 1SS9-9O
he advocated the passage of the law. claim
ing that it would add $4,000 annually to the
revenues of the State. The collections
failsu to reach that sum for various rea-
sons, but the secretary of state is still Of
opinion that that figure may be attained.
The report of the secretary of state filed
with the Governor yesterday shows that the
office has emerged from the comparative
obscurity of former years. Its business has
increased very heavily, so much so that
nearly double the work is done now that
was accomplished in former years.
Important recommendations are made by
Mr. Hunt concerning the regulation of in
corporations, both domestic and foreign.
Perhaps the most important recommended
ton of all is the section stating that for
eign incorporation fees should be material
ly increased. The minimum fee for filing
articles of association for foreign incor-
porations should be SIS instead of $10 Mr..
Hunt believes, and he doubts the advisa bill
ity of permitting this class of companies
to incorporate for fee less than that. He
suggests also that the Legislature appro-
pirate $1,000 annually for the purpose of in
vestigating every year the business of for
eign ipcorporations in Indiana.
FINANCIAL STATEMENT.
A feature of the report. one which has
never before been included in a report of a
secretary Of state, is compilation of the
memberships of Legislatures from the first
at Corydon in 1916. The compilation was
prepared by Richard T. Burrell, deputy
secretary of state. The report follows:
"The duties of the Office have been great
ly increased during the last four years,
and there has also been very material in
crease in the revenues of the Office without
any additional cost TO the State.
1.-The following Is a statement Of fees re-
ceived for the fiscal term ending Oct 81,
1902:
Domestic corporations $144 S12. 49
Miscellaneous Observation-Disclosures. 9.4lS. 70
Foreign corporations (from April 8,
1901, to Oct. 81, 1909. g. .sS5. 81
Total ....................... .s1s7 l7s. 81
Total fees received for two years
ending Oct. 81, 1900. $137 154. S5
Making total for the four years
ending Oct 81, 1902. 324 331 l6
AS against Sis. rs for the pre-
ceding four years. an increase Of 2Os, ,7S9. Al
This increase has been largely due to
the prosperous condition of the country
and the consequent development of the
natural resources of the State. but II has
been partially due TO the law enacted by
the Legislature in 1901 concerning foreign
corporations.
PREDICTION MADE.
In recommending the enactment of this
law i'm my report for lSs9-l9OO 1 predicted
that ii would increase the States revenue
$4,000 per annum at an additional cost to
the State of not to exceed $4,000. But as
the law was passed late i'm the session. SO
late that the Governor did not have time
to consider it until after the Legislature
adjourned. this Office was not i'm position
to ask an appropriation for its enforce
ment. and the money derived from this
source from April, 1901. to October, 1902
amounts to SO. .sS5.57. which has been col.
lected without additional expense to the
state l am still of opinion, however that
much larger sum could have been COL
lected had a sufficient appropria ton been
made for thorough investigation as ia
foreign corporations doing business i'm In.
diana The State of Illinoip appropria les
SsOOO annually for the enforcement of q
amount necessary for the enforcement oi
the Indiana law, but 1 do not think the
| Iegislature could make a better Investment
| than to appropriate at least $500 Der an.
mum for this purpose. Excessive appro.