Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1913-03-20
PROPOSAL TO COMPEL REGISTRY
OF NOTES AND TO TAX
MORTGAGES.
COMMERCIAL BODIES WILL
OPPOSE FIGHT ON CAPITAL
Claim Made That Enactment Would
Drive Money to Other States-New
Suggestion as to Railroad Rates on
Short HauIs-Houss Hesitates At
Prison Reform.

Special to Times Republican.
Des Moines, March 20.-Representa-
tive Bauman. Of Van Buren,, has be-
fore the house ways and means com =
mittee two bills which are, lying dor
mant for the present which taken to-
gether would do something TO the
financial interests OF the state if they
should become laws. They have not rs
yet been discussed but are beginning
to attract attention. House File 24S
follows:
''All notes or contracts for the pay
ment OF money shall bear the stamp or
written endorsement of the assessor,
that the same has been assessed or
taxes for that year. Any such evil
dence of Indebtedness not so en-
dorsed shall be void in law and not
collectible in any of the courts Of this
state. This act shall not apply 10
banks loaning money in the ordinary
course OF their business
The other bill, House File -. fol-
lows:
In listing real estate for taxation
the owner of said real estate will be
entitled TO deduct from the actual as
sessed value thereof the amount Of
debts in good faith owing by him and
secured by mortgage or mortgages OF
said real estate. The object of this
act is TO tax the owners of real estate
for all their equity in said real estate
and no more
The attention has been called Of rep
resentatives Of commercial bodies in
these two bills, and there will be the
strongest kind of opposition. It IS
pointed out that, as a matter Of fact,
this would virtually drive out Of the
state all of the eastern money whic:
is invested here and leave the city
builders with no way to get money
with which to go on with their pro-
jects of expansion. Ii is said there are
millions OF dollars of insurance money
invested in Iowa. If all the mort
cages held are to be invalidated unless
it is shown that the holders of the
mortgages have turned them in for as
sessment a revolution will be effected
in financial affairs and most Of this
money will seek other places Of invest
ment.
Discovery OF the intent and purposes
of the two bills has caused sen
sation among the persons Interested
in this phase of finances in Iowa,
An entirely new suggestion as TO
railroad rates for short distances on
small articles is embodied in the Sui
ivan bill just introduced. He pro-
vides that in no case where property
is transported less than fifty or more
than twenty-five miles shall the charge
for such transportation, including
switching charges and the charges for
connecting lines exceed one-half of the
value of the conmo dity transported at
the place where the shipment origin
ated. and for distances less than TWEEN
five miles the Limitation is one third
of the value. Every charge in excess
Of these limitations is declared TO DE
and is prohibited.
The committee on board OF control
has reported to the senate a committee
bill to provide a way for counties to
give aid to camps and sanitaria for
giving the board of super
visors specific power to provide for the
maintenance Of persons SUI
vaaced than incipient stages. This
may be by so constructing or other
wise securing and equipping suitable
buildings. or by placing persons in in
stitutions designated for that purpose
and allowing a sum not exceeding s1o
a week. This measure would legaliZe
the support now given without shadow
Of authority for this work in some
counties.
The proposal Of Z. r. Howard made
several years ago to give the state his
401-acre farm near State Center to be
used for a state vocational and agri-
cultural school. is to be investigated
and some recommendation be made
thereon.
At a time when there is complaint
about the penal system Of the state
the house has refused to join the sem
lIl1n