Decorah public opinion. (Decorah, Winneshiek County [Iowa]) 1895-1928, 1906-01-31
STIRS IOWA SENATE
MoLsaERRY ARaAlcNs LIFE in
suRANcE COMPANIES.

Says Home Concerns Have Been Imi-
tating Operations Of Big Ones.
Wants an investigation of All Com
pants Doing Business In the State.
Des Moines, Jan. 30.-The closing
OF the first month of the 1906 session
of the Iowa legislature finds the work
accomplished by that body Of very
small moment as far as actual law
making is concerned, but it finds both
branches of the assembly with their
shoulders to the wheels and their en-
ergies bent to make the session as
short as possible and still have it ac-
complish much that will be of benefit
to the state.
Four Measures Enacted Into Law.
So far but one concurrent resolu-
ton and three bills have been enacted
into law by both houses of the assem-
hy. The concurrent resolution Is a
usual one, regarding the employment
Ment of extra help about the capitol
while the legislature is in session and
providing for the pay of the employees.
The bills which are laws Of the state
now are two legalizing acts giving au-
th0rity for the voting Of school house
bonds by the districts Of West and
East Des Moines, and an act legaliz-
ing certain proceedings Of the city
council of the town of Harvey, in Ma.
rion county.
Nearly 800 bills have been intro
duced in both houses. These include
most of the appropriation measures
for the various state institutions. BY
the closing of the present week the
committees will have considered most
OF the measures before them and the
bills will be coming rapidly up for
consideration in open session.
Moisberry Makes Serious Charges.
Senator Molsberry created pro-
found sensation in the senate chamber
by accusing various life insurance
companies of extravaganza and mis-
management of their affairs for the
purpose Of graft. His remarks were
Occasioned by the calling up of his
resolution providing for the investi-
cation of such companies doing bust
ness in the state.
1.-THE Des Moines Life pays its pres
ident $4,000 per annum and the wife
u the president $4,000 per annum,"
declared Molsberry. 1.-THE same COM
pany pays salaries to officers and en-
plOyes to the amount Of $55,000 and
that on ledger assets of less than ST.
100000. II McCurdy, Mccall and
Alexander had known what salaries
were paid the Des Moines Life officials
they would certainly have been sorry
that they were not operating in Iowa.
One life insurance company, with
home ONCE in Des Moines, only
wrote $4,000, for which not 4 cent of
premium was collected and every cent
Of which was lapsed the next year.
The insurance was written to allow
the company to make good show
Ing"
Publicity for Corporations.
One of the important measures be-
fore the legislature is a bill intro
duced by Senator Ericsson of Boone,
which aims to exercise a better con-
trol over corporations by the state.
While the Iowa laws regulating cor
pOrations have as q general thing
been sufficient In the ordinary lines of
business. yet they have permitted the
sOnduct OF certain enterprises which,
10 say the least, have not shown up
to the credit of the state. The organ.
ration Of oil companies, which be-
came something Of a furore in western
states few years ago, when the Kan
sas and Texas fields were being
opened, has been one of the prolific
aims Of the corporation manufacture
ers; and gold mining companies have
6ourished and faded away in number
less quantities In the state. Some of
these enterprises have been founded
on correct principles and have had
something stable behind them, but
many have been but the exploits OF
enterprising spectators. Senator
Ericsson has become convinced that
the one remedy needed for the curb
ing of these institutions and under
takings is that of publicity, and his
bill provides that all corporations,
whether organized under the laws of
Iowa or any other state, and doing
business in this state on a permit or
certificate from the secretary of state,
shall be required to file with the Sec
rotary Of state each year, between the
first day of July and the first day of
August, an annual report containing
such information as will be of value
to the Official in determining the right
OF the company to continue in bust
ness. Among other things, it is re-
quired that the report shall contain
the name and postofice address of the
corporation; tho amount of capital
stock authorized; the amount actually
subscribed and paid in; the par value
Of the stock and its actual value; av-
erage amount Of capital actually en-
ployed for the year; the names and
p0stofice addresses OF its directors,
and whether any change of place of
business has been made during the
year. The reports are to be unde,
oath. An annual license is to be is
sued to corporations entitled to con-
tinue in business. The license fee
graduates from $3.50 on corporations