Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1908-01-16
Treasurer Morrow Says at No
Time Will Commonwealth
BE Out OF Funds
BIG FEES COMING IN SOON
Ono Inheritance Tax Fec Of $4,000
Among the Sums Oue-lnsurance
Companies to Pay Fees Of About
5000, 0oo-county's State Donations
Will Put State on Sound Basis.
Special to Times-Republican

! 3 3
Des Moines, Jan. l6.--Hon. w. w,
Morrow. state treasurer. believes that
the state treasury will notfa any time
be out Of funds, this year. Mr.. Quincy
Willis, deputy state treasurer, believes
that by wise management It may be
possible to keep the funds from run
ming out. In any event IL the funds
do run out 1t will be but for q short
time. possibly three COR four weeks.
Mr.. Morrow believes that the re-
iceipts that will be paid into the state
treasury VIII be ample fol al, Pur-
poses and that not q warrant will
have to be stamped so that ~ will
draw interest. There are some blg
fees that will shortly be paid into the
state treasury from one source or an.
other. There is. one inheri lance tax
fee OF about $3.50, 900 that iss due and
will shortly be- paid. A fee of $4,000
in an incorporation was paid into the
secretary of states Office the other
uaye Ia CIS duuItOH SAAASS avs EgSS
the amount Of $4,000 or more are re-
ceived during the months Of January
and February.
The biggest amounts to be paid in
win come In the auditor OF states Of
flee during the month OF February,
when the insurance companies pay
their fees. These will amount to d
total Of nearly 100000 Various Of
fees receive fees during the month of
March that amount to considerable.
Then during April the state tax begins
to reach the state treasury from the
county treasurers. As soon as this
latter begins to come in there will be
no danger of running out of funds
after that and a session of the legis-
lature will be held before there will
again be danger of running low ( in
funds.
$169, 900 in the state treasury. The
amount may run lower than that be-
fore the fees. by the insurance COM
panfes and the state tax begins to
come In, but once these fees begin to
reach the state treasury there will be
no further danger Of the funds run
ming low. There are regularly large
corporations doing business with the
state institutions thru the board of
control These corporations consider
state warrant as good as cash and
many of them have been In the Gus
tom in the past of not presenting their
warrants for weeks after they receive
them. Some of them do not call for
their warrants even for some time aft
er they are due Furthermore, there
.is quite sum due to state institutions
that without any hardship whatever
be delayed month or two.
$50
Double taxation" was defined by the
supreme court Of Iowa yesterday,
which had "a double taxation obnox-
ious to the rule is where the second
or additional burden Is imposed by the
same sovereignty which imposed the
first
1t was held that stock in foreign COR
porations owned by residents Of Iowa
may be taxed in this state, irrespective
Of whether the same stock IS assessed
in some other state.
The decision was made in the con-
troversy between the authorities Of
Henry county and the executors of the
estate Of Col. Warren Beckwith. Col
onel Beckwith owned stock in the
Western Wheel Scraper Works at Au-
rora, ILL.,, amounting to s17,100. face
value. The assessors at Mount Pleas
ant undertook to assess the stock for
three years. and the estate resisted.
defeating the county authorities in the
lower court. Yesterday the supreme
court reversed the district court and
made the definition or Interpretation
Of the law alluded to, and which Is of
a vast Importance.
It Is said by the court that all stock