The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1907-07-01

Indianapolis, Ind, July IA law
pei Indiana incorporated companies to
keep the secretary of state informed
as to their capitalization. location and
business methods, is now being put
into effect by Secretary Fred A. Sims.
While IL has not been a matter of
general public interest. the public will
benefit materially by the enforcement
of the law, as it will enable the secre-
tary of state to keep such close tab
on all corporations that they will be
obliged to live up to the laws under
which they were Incorporated.
card index recently completed at
the office showed that over "a 900 COM
panies have been incorporated in In
diana in the last fifty-six years, but no
secretary of state has been able to fur
nish accurate information about thou
sands of them, as there was no means
of obtaining it.
According to the act the companies
must file their report between June i
ana July Oh Oh each year iily CChio
must accompany each report. This
will increase the revenues of the state,
although that was not the real purpose
of the law itself.
Blanks Sent Out.
Secretary Sims has prepared blank
on which the reports are to be made.
The following questions are asked:
What is the present corporate
name?
Has the name been changed? From
what, when and how? Gist all the
changes.
Where is the principal place of bus
mess?
Has the location been changed from
one town or city to another? From
where and when?
What is the authorized capital
stock?
What amount of capital is actually
issued and outstanding?
Has the capital stock been increas-
ed? (Give the amount of each in
crease and date.)
Have their been any issues of pre-
ferred stock? (Give amount and
date)
Has the common stock been re-
duced? (Give amount and date.)
For what term, in years, was the
corporation organized?
Has the term been extended at any
time and for how long?
Have the original articles been
amended? Give the date and a syn
opsis of the amendments.
Many companies have asked wheth-
err or not they will be compelled to
make a statement as to their entire
business each year, but the real OBJ
ject of it is to furnish the state with
complete record at all times of the
companies doing business under it's
laws
Department Systematized.
Under the new arrangement the de-
partment will be able to tell what COM
panies are still IN business and wheth-
er or not they have changed their cap
italization. location or manner of OPP
Grafton Those that have increased
their capital stock without notifying
the department will be compelled to
pay to the state the amount of fees
due il.
The chances are that several thou
sand dollars will be obtained from this
source. but Secretary Sims thinks now
that a complete record of the compa-
MES that have filed articles in the last
sixty years is more important than the
revenue that will be produced by the
enactment of the law.
The enactment of this law will en-
able Secretary Sims to carry out the
progressive policy of the last three Re-
publican administrations which found
conditions in deplorable state when
the Democrats vacated the Offices.
It has been a long. hard fight to
bring order out of chaos, but by the
enactment of this and similar laws the
much-desired reforms are being &C
com plished The office of secretary
of state is one of the most important
in Indiana, as it has the supervision
I'm a way of an immense amount of
public business.
In the last legislature the RepubIi-
cans succeeded in getting through
laws that are expected to prove of
great assistance to II in the future.
Receipts Are Increasing.
The department in way is fine
barometer Of the business conditions
of the state. The receipts for the first
quarter of this year showed an enor-
nous increase over a corresponding
period of last year. The receipts for
the present quarter, which is about
half finished. show a continued in
crease. indicating that capital is still
being invested in new enterprises and
that times are good under the present
administration.