The daily palladium. [volume] (Richmond, Ind.) 1904-1905, 1904-11-02
HIGH MARK
ESTABLISHED
IN OFFICE OF SECRETARY OF
STATE D. E. STORMS
CORPORATIONS ARE FORMED
=
New Railroad Stock Nearly $4,000
000-Sale of Court Reports,
Etc.

indianapolis, Ind, November L.
Daniel f. Storms, Secretary of State
has submitted a report to Governor
Durbin. covering the transactions in
his office for the last two years. The
report Is unu>laI in that specific in
formation is given regarding the gen.
eral Office business. 1t shows that
the last two years have established
high mark in the transactions in the
office.
In the years 19O1-19o2, previously
the two best years, the total collec-
tons were $1S7, 176.31. The last two
years show collections amounting to
5000, 13l.6 2, an increase of $685.
81. This increase was more than suf-
ficient to pay for the salaries of the
office force, besides the other expens-
es of the office for the last two years.
The fiscal year in the office ended
last night, when it was shown that
collections for domestic corporations
for the last two years amounted to
3,525.60; foreign corporations,
500 ,4O3.50; miscellaneous collections,
$10,202.52. AS the actual expenses
Of the Office for the two years
amounted to $27,7OO, the net profit
to the State from the Secretary Of
States Office is about 100000. The
sale of Supreme and Appellate Court
reports brought $17,337..
Deputy Secretary Frank T. Grubbs,
finds that the total number Of Tndi-
ana corporations formed in the two
years about $3.50. Of this number
2,273 were general corporations, the
total capitalization of which is in
round numbers 1926, 100000. Of this
class of corporations about $50 old
organizations have increased their
capital common stock, or issued pre-
ferred stock for the further develop
ment of businesses that were being
successfully operated and needing
more capital for expansion.
Seventy-seven new steam or cleo
tric railroad corporations have also
been organized, of which twenty
eight have fled certificates of in
crease of capital stock, or have con-
solidated under the law and paid fees
upon the capital stock as represented
in these latter transactions.
The total capital stock of such
railroads as have been organized and
have fled notices Of increase with
in the las, ivy" wears, is very near
$4,000 900. The general and the
railroad corporations represent a to-
tai capitalization al. about 1892
coo. 900.
TO these are to be added 313 cor
porations organized under the laws
of sore other State or Territory,
which have complied with the Indi-
ana foreign corporation law, requir-
ing that certified copies of articles
of incorporation be fled in the office
of the Secretary of State.
Amendments, reductions of capital
stock, changes Of name, etc. certifi-
Gates Of which are filed in the office, |
aggregate possibly another thousand
of documents to be added to the list.
bringing the total to more than 1000
record papers filed during the fiscal
year.
Mr.. Grubbs mentions in this con-
nection that every document fled
within two years and required to be
recorded, is now spread on record in
the office. which is a condition with
out precedent.
This was made possible by the ac-
ton of the last General Assembly in
allowing the Office an additional re-
cordin@ clerk.
The Secretary of State says. in his
report. that his predecessor. Union r. |
Hunt. recommended an appropriation
of $4,000 a year for the better en-
forcement of the foreign corporation |
law. and predicted that every dollar
so appropriated by the State would |
return five dollars to the State Treas
ury. Mr.. Storms states that he be-
leves this would undoubtedly be the |
case. and he makes the request that |
such an appropriation be made.