The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1903-02-19

Austin, Texas. FEBRUARY to--FoHoWlnB 10 =
copy of the Scabury corporation bill already
commented on in The Post editorially; which
requires all corporations doing business in Texas
10 report annually under oath their exact hnan-
cial standing together with outstanding stock
assets. liabilities ctcl 1t is very FAT reaching
and will be Of general interest TO all corpora
tious
AN ACT to-rcquirc all corporations to make an
uua returns TO the secretary Of state OF
their organization, financial standing, oondi-
ton cf business. etc. and to prescribe 4
penalty for their failure to make such re
tirus.
BE II ENACTED Blythe LEGISLATURE
OF THE STATE OF TEXAS
Section T. Every corporation for pecuniary
profit heretofore CT hereafter chartered under the
laws Of this State and every foreign corporation
trsnsactine or soliciting business in Texas under
permit OF certihcste of authority from the State,
shall on or before the first day Of May of each
wear. make an annual return TO the secretary OF
state Of Texas, showing the condition Of its al
fairs on the preceding FIRST day of January as
follows
r. The name Of the corporation and the char
acter OF its business
2 The authority by which it has been noor-
porated and the purposes of its incorporation as
expressed in its charter articles of association
8. The names and residences"of its officers
4. The location Of its principal office, and If
/ a foreign toGpOIdllOHi tut lONdNlvH u it9 pm
cipal office in Texas.
! & The amount Of its authorized capital stock,
and the amount issued and outstanding, the mar
ket value OF the shares OF such stock or II they
| have no market value, then their actual value ::
| and in case there be both common and preferred
stock. separate statements shall be made OF each.
q statement OF las outstanding bonds show
! ing amount and date OF each issue outstanding,
date lof maturity and rate of interest and date
/ OF accrual Of interest.
T. statement OF each and every mortgage,
! lien. or charge upon the whole or any part of the
property Of such corporation showing the amount
thereof date Of maturity. rate OF interest and date
Of accrual Of interest and the property incumbered
or charged thereby
g. a statement Of the surplus. undivided prof
its dividends declared and due, and OF all other
liabilities, properly CLASSIFIED and divided with
the total amounts of each class,
o. A statement showing all the property or as
sets held by the corporation properly classified
and divided, with the total amounts of each class
in which statement shall he included the amount
OF cash on hand and deposited in banks TO the
credit Of the corporation, and in what bank or
banks the same is deposited and the amount OF
cash in the hands Of agents naming such agents
and in course of transmission the amounts OF
stocks bonds, notes secured and unsecured, and
other loans and credits; and a description suf
hcient for Identification, of all real estate and
personal property owned by it in Texas and sub
Jet to taxation in this State, and the location
and true value OF each piece parcel thereof,
TO- The gross income and earnings of the cor.
poraton during the preceding twelve months, in
Guiding all interest on investments and all rents
fruits and revenues from every source whatso
ever.
H. The expenditures during the preceding
twelve months specifying the amount OF bonds
and other evidences of Indebtedness taken up ant
5 paid; the amounts of reduction payment o
the other liabilities shown in the last preceding
annual return the value and nature) OF al
Improvements and betterments to its property
operating expenses, new property acquired anc
all other amounts paid out during said period
1 -. A statement OF its net income earning
during said period.
70. A statement OF (a) the amount and rat
. Of interest that has been paid during the pre-
E cediug twelve months upon its bonds and othc
r interest bearing indebtedness; (b) the amour
b and rate Of interest that has been paid in salt
period upon its preferred stock; and 90 tn
{ amount dates and percentages Of the dividend
that have been paid in said period upon it
comnon stock
I Ii. The amount Of its capital stock that ha
l. been paid up in cash. and the amount that hs
been issued and delivered for any other thing o
Il purpose, with statement Of the object 10
which issued and delivered, the date thereof an,
description and the true value at that tim
o OF any property, real personal, so acquired
annual return TO repeat information under thi