Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1907-12-23
Move Under Way to Secure Rep
respntative on State Rail
way Commission
A. L. AMEs TO BE BROUGHT OUT
Farmers Desire to DispIace Colonel
Dave Palmer But Do Not Wish to
Wait Three Years, When Term Elk
pires-Waterins Corporation Stock
in Iowa.
Special to Times Republican.
in Iowa.

|
formerly president Of the Corn Belt
| Meat Producers association, may be a
| candidate for railroad commissioner OF
Iowa. His name is being discussed and
especially by members of the Corn
| Belt Meat Producers association. MIR.
Ames is now at the head of the Co
Operative Commission Company of
Chicago, firm organized largely b!
the cattle feeders of Iowa and sur
rounding states, to fight the excessive
charges of the commission firms of
Chicago.
The suggestion Of Mr.. Ames name
for the office of railroad commissioner
is the latest move in the political Held.
The term of Mr.. n. S. ketchum, OF.
-Marshalltown, is the next to expire. IL
will expire January l, 1909. Mr.. W. l..
Eaton began his term the first Of Jan
| uary, 1907. The term Of Col. ID. j. Pal
mer, to which he was elected in NJ
| vember, 1906, does not begin till jan
uary /, 1905 The term of the railroad
/ ~
so arranged that new term begins
| the first of each year, there being thu &c
commissioners.
I Discussion of the name Of MI. Amos
for the railroad commission comes thru
the desire of the cattle feeders OF Iowa
| to have a man on the commission Wso
understands the necessities of trans
portation from the cattle mems size
| of it. Mr.. AmeS was president of the
| Corn Belt Meat Producers association
Nor some time and is thoroughly con-
| versant with the cattle and live stock
| business and is 6. man of recognizes
ability.
For some years the railroad commits
sion has been made UP of one lawyer.
| one representative of the manufacture
| ing interests and one farmer or repre-
sentative of the agricultural interests.
At present w. L. Eaton of Usage, is
| the lawyer, Mr.. Ketchum the repre-
sentative of the manufacturers and
! shippers. having been himself a manu-
! facturer and shipper, and Col. Palmer,
| the farmer. The Corn Belt Meat Pro-
| ducers' association, which is made up
| of farmers who feed stock, claims,
| however, that Col. Palmer while nom
inally farmer has not represented
the farmers, but has represented the
railroads. They point to the nine years
| he has been on The commission, dur
ing all Of which till the last year
when Eaton and ketchum We're on the
board, nothing has been done in the
| farmers interests. They claim they
have no representative on the board
1
| till Col. Palmer's term expires before
getting a representative on the board.
1t is understood that Mr. Atnes has
no knowledge that his name is being
discussed but his friends say lie would
take the place.
Watering corporation stock aas been
stopped in Iowa. Lawyers who have
been handling the organization of new
companies advise their clients of the
new Peterson law enacted by the last
| Legislature and the result is that when
a new corporation is organized in this
state actual money is put in for the
amount of the capitalization or else
something Of real money value. The
executive council does not have a
meeting now without considering the
application of some corporation for the
approval Of the council to stock is
sue. Furthermore the success of the
Petersen bill Is causing lawyers and
others to discuss the ACCESSIBILITY Of
Iowa passing law similar to the pub
| lie utilities bill passed in New York.
| Hon. Jerry Sullivan, said today:
''The Petersen bill is one of the best
| 1,1y+ To, 1oo
islature. It Is true that some corpor-
cations will go outside of the state OF
Iowa to incorporate. They are going
now to North Dakota and Arizona but
| that doesn't materially concern us.
Let Iowa for this once "stand pat"
When a corporation is organized I'M
der the laws Of Iowa there is a guar
antee that one dollar is back Of every
dollar Of capitalization. And it's worth
while"
Lawyers say that the custom In the
past has been that when ever any big
/ deal is financed the purchasers Of the
bonds are given about 20 per cent of
1.-THE common stock as a bonus. Then
the promoters take a big per cent of
the common stock for promoting the
corporation and the result is that the
investors put in their money against
water. The recent showing in New
York has been that in the street rail-
ways there the persons who have the
control and management of the corpor-
ations do not have any money invested.
It is proposed now that the Iowa
legislature should enact law similar
to the New York public utilities bill
which gives a commission authority to
go into the office Of corporation and
examine its books and ascertain Just
how much money has been actually in
vested and just how much the corpor-
alton is paying in profits each year.
1t is argued that only by some such an
examination can the public ascertain
whether its patronage is paying fair
profit on the investment
CAN'T REGULATE PHONE RATES
Cities of Iowa Have No Power Under