Rogue River courier. (Grants Pass, Or.) 1886-1927, 1903-04-16
EDDY CORPORATION LAW
Some Criticisms Offer ed by One
Of Portla nd's Lawyers.

Mr.. Robert c. Wright, an attorney
Of Portland in an interview regarding
the Eddy corporation law, said that
he was not opposed to a reasonable
law providing fair charge by the
state upon organization and only
nominal yearly license, if any at all.
He deems this measure ill-adyised
and unjust in its provisions, giving
his views in part, as follows:
This act provides a graded license
without regard to price Of capital
stock in the market or the amount
not sold and from which the company
has derived no benefit, and it does not
regard the amount Of business done or
receipts Of the company but says you
must pay whether you barely make
expenses or run behind.
The promoters of this bill expect
the state TO derive a great revenue
from it, but will it? Foreign corpor.
ations need not enter this state or
may withdraw and put all real estate
and business in the name Of a factor,
agent or trustee or the Standard Oil
company may if it choose withdraw,
organize 5000 company, sell to il
aud thus pay $40 a year instead Of
500 and still do thousands Of dollars
in business here.
Merchants throughout the state
have incorporated their business for
good and sufficient reason, such as to
save annoyance on the death Of a
partner, etc. They should pay fair
fee when they incorporate, but there
is no excuse for the state to fine them
yearly for existing, after they have
paid the sheriff their state, county
and every other tax beside perhaps
a city license. Similar corporations
can be organized in other states and
place factor or broker here to
whom they sell, and so escape this
license This is not u square deal
with our own people and places them
at a disadvantage, as they cannot
have corporation here and escape
the license in that way.
Mining, coal, logging, timber, live
stock and other companies which are
peculiarly developers Of the resources
Of this state organize possibly with
large capital stock, knowing that they
will not and cannot get par value.
However they create property and
values where there were none before.
These properties are then taxed by
county, city and state and a revenue
is derived from them whether such
companies are making money or not
and these taxes are paid There
cannot be equality and justice for a
special license tax on top of their
regular taxes. The license tax will
not prevent watering stock, nor will
IL prevent mining and other com
panies of this class organizing without
the state and holding properties here
in the names of trustees or agents, to
eyade the license law, which the local
companies could not so escape because
they are registered with the secretary
of state Many of these local mining
companies have heretofore organized
in good faith and are struggling
along to develop promising properties
and besides making taxable values are
putting money into circulation among
merchants in their vicinity. The
operation of the law can and will
work an injustice to these companies,
which are entitled to every encourage.
ment, while those interested are put
ting in their best energy and capital
to develop our abounding resources.
All should be on the same footing
and especially foreign companies
should not have advantages over our
own enterprises which need every
dollar to make these taxable values
and more business for the community.
And in conclusion it would appear
that the welfare of the people as IA
whole will be best served II a rcferon-
dun is called for ON this unwise law
and that II be killed at the polls -
Mr. Wright ON being asked for his
views ON the Lewis and Clark referen-
dunn said he was not in favor of dis
turbing the fair apportionment but it
should be let alone and the exposition
held rs planned
he was also asked to state what hc
thought of the referendum upon the
portage bill and said that he had not
studied the matter as closely as he
had the Eddy law, but il was his
opinion that if the portage road could
be- built and maintained at profit
individuals would have long ago
undertaken it and banks would freely
lepd money for the purpose, but as
they had not done so, it was doubtful
financial venture for the state to en-
bark in and would only incur larger
taxes generally If it is proposition
to be- carried out regardless of cost
or expense, for the good of commerce
in three states, then the government
should do it,