The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1903-01-17

""iount OF STOCK which AZ Fl
authorized TO Issue and so,I sel nj
words. S5.251,25o Of PROPERTY %
by the tax rolls is the basl. Hsa
S1si, 10000 or stock denera, upO' u
One Of two conclusions ia csr,s,. y "a
either the state has been pro,., .''ail h
Of its Just revenue, or m,- VITAE
this stock was sold were ,c.,s. vi
timiEod. II should be also 49, wv VI
authorized capital stock Of tbess y, "
pauies Is larger by s4e,e42, 40 ~ a.
outstanding stock on io55o MI. 'ma
way In the state. For thl. 80
condition, from which so m.rs ','ae'r
fered, the legislation Of forr. 1s's Il
directly responsible. The reoulrs, ,aa
the stockholders in a proposed co ,,.'
shall furnish satisfactory eyldor. .past'
secretary of state that at leas+ 4
OF the authorized capital sto,, y" =
subscribed and 10 per cent paId !,
the charter shall be granted /, v
tirely Insufficient safeguard as,,,.
Is commonly known as wild csts
tions To the business world n. sri
adopted In order to evade this reos,,.-
are well known and need not ba 49,.
s believed to be sufficient to can ~
teutton of the Legislature TO mi, MI.
defect in the law. and. without rec
ing any specific remedy. 10 urs,
Grafton of the subject and tbe NJ.
of such other safeguards In III. t s,
of corporations as will prevent thsl,
means for imposing upon the png.
MUTUAL INSURANCE
One species Of corporation has h.,,
cially represented as being used 4.
purposes of detraudlng the citizen, !, N
State to very large extent-ths r,,,.
insurance companies. There should \ \
hesitapcy In the repeal Of subdlyisi,, d
article 624 of the Revised STATUES Il.
which they have been incorporated n
the organiza ton OF these mutual co,,,-,
has been authorized, many Of than NJ
been chartered. It is not to b. unSs,,,r.
from what is said that all mutual NM
life or fire, insurance companies hare n,
undertaken with fraudulent intent, I'M
Is safe to say that a large proporios >
them have voluntarily ceased buNneM 3 .
have had their charters forfeited N n
attorney generals department, snd NJ I!
so done, all who bold policies in such n,
pantes have suffered total loss. Thss
jury to the public from these aasoci,a,.
has greatly outweighed any posabs ~
At that might have accrued from thoss 4. |
ganized for proper purposes and honaty
managed. Some may contend that ;ss
who deal with corporations do 50 With ttsl
eyes open, and that IL Is not the bush
Of the state to make contracts for IL ds /
Gems. This may be true 10 ordlp1iy tss
ness transactions, but many people hn
the idea that when the State grants sais
ter TO corporation that the act ID at lax
prlma facie evidence Of the RELIABILITY
the concern, and that the fact that b.
charter has been granted is used All
means Of imposing upon the people VITA
II would otherwise have been imposha
to deceive. 1t should be borne 10 nhd OF
there is great difference between HSa
benefit associations, which have no chir.e,
and those which are incorporated L
only to the latter Kind that refeenrs
made. II may be added that there aE
many corporations doing business 10 Y \
State that pay no tax Of any kind va
ever: and, also, that there = no goot n
son why a corpora ton should BE- ngth
as to the date when Its FRANCHISE ~
due. The individual taxpayer Is feculN
to have full knowledge Of the Law. Y
officials and directors of every corpaaIe
should be made, under sufficient ptEllr
to promptly inform the state depaHn:a
Of its abandonment Of business, OF 10 cs [
solutions. and inasmuch as they nssf
tire control of lite assets, 10 be responAT
for the payment of this tax.
The law in regard 20 interuIban rshm
being defective, legislation upon NE We
ject is recommended
THE STATE HEALTH OFFICE
In this department there has pe''
marked improvement IN economy sfnae
and smoothness under the present isq
bent over his immediate predecesef y
to September. 1900, there existed cuh'5
which was known TO the lesisanN
using the fees collected at Galveston
other ports, in addition 10 the resull y
preparations. to defray the expenses =
service. During the month namsaI n,
since then, all such fees nave oeep ,ss IN
the treasury so that the present nssA, r,r
ficer has heen compelled to rely sols9 ,s
appropriations, which were susne Ar
usual; but nevertheless he was a 4, az W.
the fiscal year ending Augqst o. ,.iss VI
conduct his department VIII sah ssps
cheney and to leave 40 uneapenoe.yh ~ NJ
of $11. sos. 80 besides paying mo Us p,,,Ss
ury fees amounting TO Slo,OSa..Soss .nnSpat
to that date, not only were tos s,s sp Jssass
lions used, hut the fees also, WIN Vs.
cies often occurring. a,,iss N
1t Is matter Of regret tnst uu.' X N
term Of the immediate predecesso ana
present incumbent that the guy o S
lions. under this administrauou' Vff ,sii
10 this department.-one by "; a. 4, IN
berry at Sabine Pass, the other Il n
j. Jones Mt Austin, and In the olnce Nh. Nh,
then State health officer ~ " I'd ~ /
stolen 10y. Tacbaberry was sh "a Zones mi n (
returned by him; that stolen ny S 'osos,y
SS693. as none of which has been e sS,Si, /
The offices Of the executive anu .s sS1 II (
general show that every posslpie. IT,, "a imrs
made TO have these men arEes.fte III.
diately upon the discovery o, tnsu ,ew
Both have been indicted ana are .higs ~ |
lleyed TO be in Honduras, VIII, MT;
United States have no eXtra1lllpp IN ~ 4,
The assistance of our own goTefl..nr,as.,S .
that of Mexico was sought apu s, ~ a n
secure their apprehension 9nd tet~p
State. but without success, -.,v ,tfls
Early In December lgUQ, W sisTs
hensible practice was accidentally ~, ~
cred In the service at Galxestoe' n wSItr
existed for many years BY az o'sTah M
the executive II was Absndoneu. \, ~
reSpondence upon the sub1ect " ". ,ssttt
IN thP report OF Inc HtAte uta,t. 80, rlsf
Under Instructions he has lalen r,spS
New Orleans. Washington ana Ssll ti;s5.s
co upon business pertaining 70 ~ tbst'h
ment; from which Il is anticipated IS
TER protection will result 70 w Nal
against the introduction Of dlsesss,'
infectious and contagious cnafae'ss
The OFFICE OF THE CoMMsnissSss'yg
OF AGRICULTURE. INsgrhannTT
STATISTICS AND HlsIVN ~
The report OF the commissions mn
complete interesting and Yaluapls sri
any year previous, and is worm, no
examination. lie invites attenucn ~ 4.
defects in the law respecting iisu,- $500
panies especially MS to fraleEul. .i,tsS
and life and mutual insurance asSg ~
The purposes for which Ihe " sppsl
tons are conducted are enen
wise Legislative action. ,tiv paid
The enormous sums. annual In ar5s /
ny citizens OF every ayocat w., .inatrd "
protect themselves against anu.ssssssrily
fortune and the confidence ie -, n te I