Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1905-05-08
STATE AUDITOR
MAS ENjO|NED
Mistaken Idea About lndict-
ments Against Insurance
Agents Combining Rates
WAS GRAND JURY INDICTMENT
Criminal Action is in Hands of Iowa
Grand Juries and They Are Not En-
joined Under Suit Before Judge Nc
Pherson-The Blanchard Act-oth-
or Insurance Talk.
pecial to Times Republican.

Special to Times Republican.
| Des Moines. May 8.-There Is some
misunderstanding over the state as to
| the indictments against insurance
agents for combining on rates. Some
| OF the papers state that the attorney
| general Is under indictment not to In
terfere with the insurance agents un-
der the Blanchard law. 1t Is the state
auditor that is under Indictment. The
Blanchard act prohibited insurance
| companies and agents from combining
and fixing rates. The agents made
| fight by asking for an injunction res
| training the state auditor from inter.
| fering and they won the suit. The
case was tried before Judge Smith
| Mcpherson in the federal court and
| the state has appealed the case to the
United States supreme court. Attor-
| ney General Mullan acted as the at.
torney OF the state, as he does on all
occasions. The matter Is now await
ing a decision from the supreme
court. The law allows two actions to
| be brought, one q civil and the other
criminal action. The auditor OF
state was empowered under the law
to bring the civil action and 1t Is from
bringing this action that the state au-
ditor Is enjoined. The criminal action
is in the hands of the grand juries of
| the state and they are Of course not
enjoined under the suit before Judge
/ Mcpherson. 1t was under grand
| jury indictment that the insurance men
1 were arrested In Clinton.
/ Every now and then the state au-
4 ditor receives an inquiry concerning
ahe continental Insurance Company
| whichis an Illinois company, and Is
debarred from doing business in the
state of Iowa. There are suspicious
that the company is trying to do
business here along with other COM
panies of that class. The companies
OF that class are not permitted legal
| ly to do business In the state. The
company is one of the gold bond class
Of companies. Their principal policy
is given on payment Of IS month
until $500 is paid. The policy
Is called $1,000 policy and life insur-
ance and investment is mixed accord
| ing to formula much the same as
that employed by the companies in
which Auditor Merriam, ex-Secretary
Of State Dobson and former Governor
Shaw were interested. The literature
is very glowing and implies many
things that are not stated in the pol
icy in such way that their fulfill
ment could be enforced. The state
auditors office has not been able yet
definitely to determine whether the
Continental Insurance Company Of
Chicago is doing any business In the
state or not.
The state treasurers office has re-
ceived the bulk of the payments from
the counties of the taxes due the state.
The payments for the month Of April
include the taxes collected by the
county treasurers in the spring. The
total was ss94s,6S6.91 and these figures
include all but the receipts from Polk
county, which are usually one or two
months late. The Polk county tax
amounts to about 100000. Last year
the same counties paid to the state
1927 ,002.07. OF the amount paid in this
year the total revenue to the state for
the month of April after the State Nor
NAL and State College taxes are taken
out is $92S,739.79, which includes the
monies received from all sources. The
collateral inheritance tax for the month
of April amounted to $12,341.37. The
month of April has made the state
revenue account $549,139.0
The biennial report of the state
treasurer will be issued this year and
will appear very soon after July 1.
!
The report of the Des Moines Union
Railway which has been filed with the
executive council is in some respects
an anomalie but when properly ex-
planned is easily understood. The
gross earnings of the entire four miles
of track and fourteen miles of side
| track with two miles of double track
for the year covered by the report was
| $202, ,407.33 making the earnings per
mile $50,601.S4. The operating expens-
es for the same period were exactly
| the same amount not including the
taxes According to this report the
road did not make any money what
| ever during the year and yet it is con-
| Sidered one Of the best paying pieces
of railroad property in the state. The
| fact is the Wabash, Milwaukee and
Burlington have the road under
lease and, pay all the operating ex-
penses and the interest on the stocks
and bonds at specified rate. The
interest on the bonds and stocks is not
| shown, however. according to the re-
port fled The report gives for train.
station, telegraph and supplies ex-
penses s12s. .700.S4: repairs and renew
ais, $64,27214; management of general
office. s7,740.22: legal expenses. ST.
O1s.05: insurance. s675.07: which
amounts to 500, 2,4O7.35. Last year gross
earnings were s23s,oOo. The value of the
four miles of main track and two miles
| of second track is given at $4,000
mile of 100000 and the fourteen miles