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Show rREflAaSABLE INCREASE '.it FEESMID V STATE SHOWS UTAH'S BUSINESS BOOM . i ; : " ' ' " " - ' Iacorp:ratlca Fees .Rc-ccived .Rc-ccived in 1901 and 1902 Exceed Those of Previous Five Years by Nearly $25,000. The office of Secretary of State is one , of the most remunerative In Utah. The revenue that accrues to the tate gov-, gov-, ernment through this office each 'year I amounts to thousands and thousands of dollars while the expenses of the office are relatively very small, Srnce - the admission Of Utah as a State, and the creation of the office of Secretary of Staje, nearly a quarter of a million dollars in fees has been f I taken in. The expenses of the office 1 I amount on an average to less than i'000 la year, which leaves to the credit of the - I State, for seven years, a balance In 1 1 round numbers of $200,000. The Incorporation Fees. The fees taken in by this office are the amounts required by law to be paid on all legal papers recorded by the Secretary, Secre-tary, v-, v-, The great bulk of the fees are the - amounts paid for having articles of incorporation in-corporation placed upon the State records. rec-ords. The fees paid in during the two years 1901 and 1902 exceeded those of the previous five years by nearly . $25,000. From IS36 to 190Q. inclusive, $111,001.10 was taken in. while from January -1. 1901. to December 31. 1902. the receipts of the office were $135,743.60. This large increase of the last; two , years over the previous five was the result re-sult of an amendment to the statutes, which Secretary of State Hammond was instrumental in having made. Under Un-der the old law $2600 was fixed as the limit fee. The Legislature of 1901 amended the law by removing the limit The law requires that a fee of 2cents on every $100 of the capitalization of all corporations be paid to the State.- Some Big Feea Paid, i Previous to the passing of the amendment amend-ment which removed the limit corporate bodies paid nothing on their capital dock in excess of $10,000,000. and under the old law a large amountjOf revenue was lost to the State. Mr. Hammond says that $80,000 tn the Union Pacific, the Central Pacific and . the Oregon Short Line railroads alone, all of which were incorporated previous to 1901, Vas raid. Since the amendment to th law was passed In 1901, large fees were- received from several big incorporations, but the v increase that has taken place in the N . ; past two years haa been largely due to "7 the improved business conditions and general prosperity of Utah. The Largest of the Fees. . " The largest fees taken -in under the new law were as follows: $100,000,000 increase in the capital tock of' the Union Pacific Railroad company, fee $25,000; incorporation of the United States Smelting and Refining company, capital stock $35,000,000, fee S750; incorporation incor-poration of the San Pedro & Los Angeles Ange-les Railway company, capital stock $23,-COO.000, $23,-COO.000, fee $6250. These are the largest, but many other large companies Wave Teen formed and launched and are all the time being organized in this State. |