Albuquerque weekly citizen. (Albuquerque, N.M.) 1891-19??, 1903-02-07


Briggs a. Co
capital organized for irrigating lands
must pay a fee of Sii0, while the same
amount organized for manufacturing
Or industrial pursuits must pay a fee
II S4OG.
law that is uniform in its require
ments should be passed as the secre-
iary IS now compelled to draw the line
between the different classes OF com
panies and subjects himself TO com.
plants and the liability OF an accusa-
ton OF discrimination. There Is aIvo
a demand for a law that will permit
the consolidation OF companies engag-
ed In the same or similar lines OF busi-
ness.
At the present time railroad compa-
mics are the only ones permitted to
consolidate and the law should he
made so broad as to cover ali lines of
business.
The present law regarding the adj
mission Of foreign corporations should
be amended so as not to require the
Sling OF a certified copy Of the general
corporation law Of the state under
which they are Incorporated. II Is rec
commended that the law relating To
building and loan associations be
amended In such way that foreign as
soclatons can do business In New
Mexico under no more onerous bur
dens than are applied to domestic or
sanizations.
The conditions prescribed now fnan-
cially prohibit any foreign association
from doing business In New Mexico
and while this Is an advantage TO local
organizations. the people as a whole
derive no benefit from IT, A fine should
be provided to be collected from com
panles and corporations doing business
In the territory without first complying
with the incorporation law. There Ia
no necessity for the law requiring all
new corporations to publish certified
copy OF the articles Of incorporation in
the county in which the principal Office
Is located, but II the law Is to be per-
mitted to stand. II should be so amend
ed as to specify how many times said
notice should appear A law Is needed
covering the registration of trade
names. trade marks and labels.
There is a stea1y increase in the re-
sources Of the banks of New Mexico.
The banking laws should be amended
in few particulars Banks OF discount
now report to the territorial treasurer
and savings banks and trust companies
report TO the territorial secretary. The
reports OF both should be made to the
same person. The law provides for an
examination of a saving bank. for
which 500 Is paid by the bank. but II
Is not enforced because OF discrimin-
alton In favor OF bank of discount.
rhe necessity for the appointment of a
travelling auditor to examine the banks
is dwelt upon strongly. The secretary
atty be imposed on any individual.
firm or corporation who shall receive
money on deposit, whether on certifi-
Gates, promissory notes or subject to
check without Incorporating under the
banking law. No banking should be
done in the territory except by legal
authority and under legal supervision.
During the two years. commissions
were issued to 437 notaries public. and
many OF them are unable TO purchase n
full set of statutes as required by law.
They therefore remain In Ignorance of
their powers. duties and legal rate of
fees. Il Is recommended that the law
be amended so that the laws covering
these subjects be published in concrete
form and furnished to each appointee.
The law providing for the appointment
OF commissioners OF deeds should be
amended so as TO prescribe a fixed
term of office, as four years.
The Spanish archives dating back 60
1920 are in the vaults of the office and
ere not classified or properly cared for.
The secretary recommends that either
the offer from the librarian OF congress
to care for them be accepted Ut that
some suitable provision be- made for
their translation and proper classical
ton Aa Appropriation will be neces-
sary 20 mail copies OF the laws and
journals OF the legislature printed in
Spanish. as the government has ruled
against sending them under frank. On
account OF the increase in business the
secretary should be permitted to nom
mate his chief clerk TO be assistant or
acting secretary in his abcence.