Omaha daily bee., 1910-01-23
Nebraska
WELDON FILES FOR SENATOR
Lincoln Man Takes Formal Step to
Enter Race.
COLONEL BATES KNOCKS SESSION
Attorney General Decides Meaning of
Capital stOck-Limit of PERMITS
sibIe Bonds on the Paid
UD Only.
tFrom a staff Correspondent

~ AOAA % 1850
LINCOLN, Jan. 22.-(Special.)-Charles o
whedon has filed his application to have
his name placed on the primary election
Ballot as a candidate for the republican
nomination for United States senator. Mr..
whedon paid his $50 to the county treasurer
and brought his receipt to the office OF
the secretary OF state this afternoon. Sec
Rotary OF State Junkin accepted the filing
and unless someone %enjolns him the name
will go on the ballot to be voted for Au-
gust 16. the date of the state primary.
Some time ago Attorney General Thomp-
son gave an off-hand opinion that the prf-
mary law prohibited the nomination of
candidates for the senate at the coming
state primary and in this decision he was
upheld by Arthur Mullen, who managed
the legislation for the democratic leg1s-
lature last winter.
In the law which fixed the filing fee
to be paid by candidates, the candidate
for the senate must pay $50, so Secretary
Of State Junkin decided that he would
accept filings from any candidate who
produced a receipt showing he had paid
to a county treasurer the $50 filing fee.
Act rs Peacemakers.
Henry T. Clarke, jr., railway commits
sioner, has returned from E1gin, where
he settled a dispute between the Antelope
County Telephone COMPANY and its patrons
TO the satisfaction of both parties. This
action saved q hearing and lo~nR-drawn-out
litigation. Commissions Cowgirl has also
returned from Eustis, where he, too,
played the part of umpire in a dispute
between the owner and the patrons of a
telephone company and got that settled
up without any hearing or trouble.
Bates Against Session.
Colonel Bates of P~lattsmouth, member
OF the late democratic legislature, was a
caller at the office of the chief executive
this afternoon, and while there he regis
tered a protest against any extra session.
Colonial Bates said he saw no reason for
an extra session and he had never re-
ceived any petition asking him to express
himself upon It.
The PIattsmouth colonel has Just re-
turned from a trip to the west end Of the
state and shortly he expects TO locate
there and establish a democratic news
paper, leaving his sons to manage the
paper at Plattsmouth. This change is
made on account of the health OF Mrs.
Bates.
Decision on Capital stock.
In order to settle a long mooted question
rs to what really is the capital stock of a
corporation, the Railway commission put
fhe matter up to the attorney general. The
question grew out of the application OF
corporations to issue stock or contract
debts. The question asked the attorney
general was:
a a corporation under this statute
t~seotion 412a, Cobbey's statutes) be per-
nitted to issue it's bonds or create an
Indebtedness in excess of two thirds of the
Emount of capital stock actually issuedP'
In concluding his opinion the attorney
general says;
II am lead to the conclusion and give It
- my opinion hat the term capital stock
rs used in this statute, means the sub
Bcribed or paid up capital stock. and not
the authorized capital stock, nor the capt.
tai or gross assets OF the corporation, for
this may fluctuate as the value of the
property may fluctuate in which the assets
of the corporation arising from it's stock
sales have been invested, and that a corpor-
alton Incorporated under the laws Of this
state may not create an Indebtedness in
excess of 663s per cent of the aggregate of
both its paid up and subscribed capital
Stock"