Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1907-09-17
Value placed on Patent.

Value Placed on Patent.
Des Moines.-The state executive
council has put value on one pat
ent, owned at Davenport and UNDER
which . portable house will be con-
structed.
For q long! time the council was
at loss to, know what to- do with
applications from persons desiring
to organize corporations to manufac-
ture under patent rights. Under the
Peterson law, stock corporations IN
this state can only be issued for full
face value. In the Davenport case It
was proposed to form $4,000 cor.
poratlon and issue $4,000 OF the
stock in consideration for patent
right. $4,000 Of 1t being SOLD for
cash to promote the business.
After long consideration, 1t was de-
cided by the council to have the
patent right appraised by experts
This was done, disinterested judges
being secured as tho council be-
lieves, and value of $4,000 was put
on the patent and the corporation
was authorized to issue stock to that
amount in consideration for It. This
will be- done.
1t is stated that this decision in
the Davenport case will not be q
precedent, Each patent right case
will have to be settled on Its own
merits,
In the case of the issuance OF cor.
poration stock in consideration OF
merchandise and real estate. the
council has followed the rule, in gen
eral, of taking the appraisement Of
disinterested persons on oath as to
the value Of the property exchanged
for stock.
City Hall Bonds Are Sold.
The city hall site bonds have been
sold to the Emory Anderson Bonding
company Of Cleveland, o.. the draft
fer $4,000 has been turned over tc
the city treasurer and It was given
to the Gilcrest estate for their prop
efty at East First and Locust streets
City Solicitor Bremner and City
Treasurer Lucas returned from Cleve
land where they closed the deal. A
special meeting OF the council wal
Immediately called and the action o
the two city officials was ratified
The deeds to the property were con
veyed to the city by Charles Gil
crest and the much talked Of cit!
hall site trouble is now ended.
Fer the last several weeks the
litigation brought by this Wpmen'
Political Equality club and unknown
men has kept the city from dispos
Ing Of the bonds as none Of the bond
ings companies were willing to &C
cept the bonds with the pending In
functions.
The litigation now pending vii
probably be settled in the coming
term of the district court, and In thu
mean time City Engineer Dobsol
and the board OF public works vii
prepare to advertise for bids for th,
construction of the new seat OF cit.
government. There are Ave sketches
of the building in charge of the cit!
engineer, and he will immediatel!
make estimates on the cost Of tn,
structure.
Questions States Ownership.
In hearing OF the Goose LAKE
controversy, E! B. Evans. attorne.
for the manufacturing interests
claiming Goose lake raised the con
itention that the state owned onl.
navigable lakes and could claim n,
ownership Of other waters.
This was shock to the attorne,
generals department. Under such
construction of the law, Spirit lax.
and even our own Okoboji would BIZ
outside CT state control and fishing
smacks could only ply thereon b,
leave OF the private owners.
The court was also surprised Rnt
called for briefs which are now be
Ing prepared.
IF this contention were upheld
the waters Of every pleasure resor
in the state will become private
property and the cottages Of De-
Moines, four hundred VIII be worth
less without lake permits" said thu
assistant attorney general. Il d
not think, however, that there is an!
merit IN the contention"
iowa cracksmen Shoot Straight,
Iowa scored 1882 points 10 tbs
nth national rife match At CAM
Perry. O., this year. Last year sht
scored 1854, or 21S points lesa Onl,
two states. Massachusetts and New
York were better last year thar
Iowa was this year. The cavalry
infantry, navy and marine corp
were better last year than Iowa thil
year, but only two states. However
Iowa was twenty-flrst In the 100,
shoot because the other competitor
improved as much as did Iowa durin,
the intervening year. There were Al
competitors this year. nine more
than last year, and this also made {
difference. The United States In
fantry won, the shoot last year Will
3,251 points. Iowa's record this yea
was 1882, or only 100 less. TIL;
United States navy won this yea
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