Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1907-03-04

partment.s ~ sf
This arrangement however, is not en-
tirely satisfactory to the insursnce
companies who remember quite efforts
of Auditor Carroll in carrying to the
United States supreme court the Blan-
chard law and the vigilance with
which he has enforced 1t since 1t was
held to be constitutional. FURTHER
more, Auditor CAROLS recommen da-
tions to the insurance commission last
summer and the house and senate in
surance committees since In regard to
Legislation has not altogether pleased
the insurance companies. Those who
are acquainted with his recommen da-
tons believe they are thoroughly in the
interests Of the people.
A bill introduced In both the house
and senate last Thursday seeks to
make the warehouse receipt for grain
or goods negotiable paper; just as the
certificate Of deposit Of o bank is ne
1gotiable. 1t Is an uninteresting l,ok-
ing bill with all the appearance.' Of
needing a Philadelphia lawyer to ex-
plain Its provisions but 1T has back of
1T more big influences demanding its
enactment than any other bills that has
been introduced at this session. 1T Is
backed by the American Bar Asse,cia-
ton which drew 1t, by the American,
Bankers, Association, by the American
Warehouse Association, and by Chief
Justice Emlin McClain of the Iowa SUI
preme court and H. o. Weaver, both
OF whom are members of the uniform
state laws commission appointed by
the governors Of the various states, the
Iowa members being appointed by tsov-
ernor Cummins.
All three OF the associations that
have endorsed the bill are interested in
securing its passage but especially the
warehouse and bankers associations.
The uniform state laws commission has.
been solicited to take an interest fiji the
bill and thru this commission the bill
is being presented to the legislature in.
every state in the union that meets
this year. The other states will get the
bill as fast as their legislatures meet.
The bill has been examined by the
ablest lawyers Of Iowa and II endorse
ments count for anything this bill
ought to pass.
It is argued by those supporting the
bill that when goods are deposited at al
warehouse they ought to be source
of business negotiation without the
goods themselves having to change
hands in just the same sense that
when gold and silver is deposited at "a
bank the certificate or receipt becomes
negotiable paper and can be used In
Hlsiness transactions without the gold
and silver changing hands each time.
The warehouse mems interest is easily
discernible. The bankers interest il
due to the fact that banks could put
their money to remunerative use fn|
taking up negotiable warehouse re-
cetpts II the business is legitimate, and
4 they knew they were protected. Fur
thermore manufacturers and jobbers
will not store goods in this state now
because when stored In other states ifl
the necessities of business demand
they can quickly turn their warehouse
receipt into cash while they cannot dol
so in Iowa. II the law was in operation
here it is claimed there would be enor-
nous warehouses built In this state
such as are now standing in otherI
states.
That the treasurer Of the city of os-
kaloosa did not make an entry in his
books for year and a half and that
the city of Centerville has far exceeded
its legal limit Of indebtedness, are
claims made by George r. Pencil, in
spector of municipal accounts in the
office of the state auditor. The report |
on the city of Oskaloosa states that |
the city treasurer left the city on the
day the inspector began his investiga-
ton. and did not show up when 1t was
concluded. The inspector found moth
ing wrong with the accounts tho in or
der to make the Investigation ii be-
came necessary for him to enter the
accounts in the books. He could not
determine the matter OF cash on hand,
however, and he asked that as soon as
he treasurer return the mayor ascer-
tain whether or NOT he had s12.709 .06
On hand December 81, 1905. l