Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1907-05-28
60 6
council Has peJicate DUTY

Des Moines.-Will the members OF
the state executive council go about
the state personally valuing property
which is to be turned over to corpor-
atoms in consideration for stock?
The new Peterson law requires the
council to value property which coz
porations propose to take over in
consideration for stock. The council
Is now considering the method it
shall adopt in discharging this extra
ordinary and important duty
So much attention was paid to the
bill taxing corporation franchises a
paltry annual stipend that the really
important corporation measure of the
session got through without a strug-
gle.
But as July 4 approaches inquiries
as to the law increase in number and
the attention of the corporations, as
we'll as of the public and the public
officials charged with Its enforcement,
is directed to the new statute.
For instance, members of the exc
cutive council have had their atten-
ton directed to the very first section
of the bill relating to their duties
when corporations desire to issue
turned into the corporation.
The law requires the council to ap-
praise the value of the property which
1t is proposed to transfer. Stock
then may be issued for the face of
the value so fixed by the council.
This furnishes an extremely i'm
portant and delicate duty for the coun-
Gil to perform. Already corporations
in different sections of the state have
signified their intention or necessity
to call on 1.-THE council to value for
them certain of the property which
they propose to take over in consid-
Grafton for stick.
At Davenport there is large mer.
ger of corporations engaged in fur.
nishing public utilities, and in sucn
case, of course, most of the consid.
Grafton for the stock is property in
stead of cash. 1t will be requisite
for the council to pass on the value
of the property in such cases. This
one will come before it, unless the
deal is closed up before July 4, and
of that there is said to be considera.
BILE doubt
1t is assumed that the council will
not, itself, travel the state to value
property transferred to corporations
for stock But how will it value it,
otherwise? 1t is probable that APP
praisers can be selected by the coun.
Gil to do the work or proofs of a Ger.
tain character may be required from
the corporation or the interested per.
sons.
Rock Island Buys Many Ties.
The Rock Island railroad has just
closed contracts with land owners
near Van Meter and Bonneville for
between 100000 and $4,000 white oak
ties to be delivered this season.
Practically all of the ties will be
used on the Iowa division of the road
in repair work.
For the past year, northern roads
have no difficulty in securing ties,
Finally some one noticed the white
oak timber near Van Meter and sug-
gested it to the tie department OF
the Rock Island.
The price of the tie material has
about doubled in the past ten years.
White oak ties, then plentiful at 40
cents, are now hard to secure at rs
cents each. Timber that then was
thought worthless or good only for
firewood is said to be tolerably good
for ties. Treated yellow pine and
Oregon fir ties are now hard to Sc
cure at 80 cents apiece.
About 100000 ties were used in re.
pair work on the Iowa division Of
the Rock Island last year.
Want Rates Revised
Des Moines brick manufacturers
have applied to the Iowa railway
commission for a revision of the
| freight rate on brick unGer the Iowa
distance tariff. In their petition to
the commission they point out that
the Iowa distance tariff rates on brick
is much greater than the interstate
freight rate on the same commodity
for similar distances. The petition
has been docketed, but the date for
a hearing has not been set. The ap.
| plication is based on section 214O of
the Iowa statutes, which provides that
freight rates in adjacent states shall
be prima facie evidence of the reason.
ableness of the same rate within
Iowa.
More Room For Hospital.
Some of the trustees of the Iowa
Methodist hospital are urging the
early construction of an east wing te
the institution and the enlarging OF
the nurses home. For some time
the capacity of the Institution has
been taxed. 1t is proposed to use the
addition for children's ward and a
maternity ward.
| President c. H. Ainley said that he
| did not believe it would be possible
to make the improvements at once,
but that he expected that they would
be essential soon.
Thousands Are Expected.
Ten thousand members of the Mod
ern Woodmen of America are expected
| to attend the Northwestern Iowa M
| w. A. Picnic association during its
session of 1907, which will probably
be held at Spirit Lake. The date q,
opening the affair had been set for