378 



MICHIGAN. 



year, 265,640. For the first time in several years 

 there is a notable increase in the number of shares 

 issued, and many associations have reduced their 

 loaning rates. 



Insurance. At the time of the annual report 

 in June, 2 Michigan insurance companies, 118 

 companies of other States, and 46 companies of 

 foreign countries were doing business in Michigan. 

 The risks written in Michigan in the year cov- 

 ered amounted to $386,973,175; premiums received, 

 $4,664,195; losses incurred, $2,895,356. Examina- 

 tions resulted in the collection of $12,600 taxes on 

 unreported insurance, a large portion of this 

 amount being collected from companies that, in 

 reporting their business, had deducted premiums 

 received for reinsurance. 



Banks. The report of the commissioner cover- 

 ing the condition of the 191 State banks and 3 

 trust companies, June 29, shows the resources 

 and liabilities to be $124,820,305. The loans and 

 discounts were $52,522,259; bonds, mortgages, and 

 securities, $44,750,517; savings deposits, $57,873,- 

 126. 



The annual report, which was made in February, 

 shows the net increase in State bank capital in 

 a year to have been $222,000. Nine State banks 

 were in the hands of receivers, but none had failed 

 in the year. 



Products and Industries. In the production 

 of iron ore in the country in 1899, Michigan led 

 with 9,146,157 long tons out of a total of 24,683,173. 



While the log and lumber industry is greater 

 now in some other States than in Michigan, which 

 for some time was the leader, the highest point 

 of production having been reached in 1888 with 

 a total of 4,292,189,914 feet, still the production of 

 1899 was an improvement over that of 1898 by 

 about 170,000,000 feet, and the quantity on hand 

 at the close of the year was smaller. The com- 

 pilation for 1899 gives the following figures: Total 

 lumber output, 2,338,575,135 feet; total shingle 

 output, 1,444,578,000; lumber on hand Dec. 1, 

 682,818,930 feet; shingles on hand, 185,020.000. 



The copper product for 1898 was 70,462 long 

 tons, of a total of 234,271 in the United States. 



The growth of the beet-sugar industry has been 

 remarkable, the State now standing second. The 

 production for the last fiscal year was more than 

 34,000,000 pounds. The claims filed for the bounty 

 of one cent a pound amounted to $331,508.73. 



Since Jan. 1, 1897, 1,005 new factories have been 

 established, which this year gave employment to 

 23,000 persons. 



Lands. The lands held by the State at the 

 close of the fiscal year June 30, 1900, were classified 

 as follow: Primary school lands, 155,989.82 acres; 

 university, 40; agricultural college, 62,523.29; salt 

 springs, 280; asylum, 1,122.98; swamp, 81,648.56; 

 tax homestead, 235,441.12; total, 537,045.77 acres. 

 The number of acres sold during the year was 

 47,211.24, and the amount received $144,595.07. 

 In addition to these sales, 2,409.13 acres of home- 

 stead lands were patented. There were forfeited 

 to the State for nonpayment of interest a total 

 of 897.05 acres. 



The General Government patented to the State 

 1,120 acres of swamp land, and lists embracing 

 159.65 acres approved to the State were received, 

 for which patents will follow in due course. 



Legislative Sessions. Besides the special ses- 

 sion which began Dec. 18, 1899, and ended Jan. 6, 

 1900, there were two special sessions in this year. 

 In the proclamation calling the session that closed 

 Jan. 6, the Governor said: 



" The fortieth Legislature enacted two laws, one 

 of which was an act to provide for the assessment 

 and levy of taxes upon the property of railroad, 



express, telegraph, and telephone companies, known 

 as the ' Atkinson law ' ; the other is an act amend- 

 ing the general tax laws by creating a board of 

 State tax commissioners with supervisory control 

 of tax officers, empowered to review and correct 

 assessment rolls, and with other powers. It is 

 generally known as the ' Oren law.' On April 26 

 last, the Supreme Court rendered a decision which 

 practically invalidated the ' Atkinson law.' Be- 

 cause of that decision, an amendment to the Con- 

 stitution is imperatively necessary, before laws 

 can be enacted providing for the equal taxation 

 of all property." 



It was for the purpose of providing for the sub- 

 mission of such an amendment that the Legislature 

 was called. The House passed such a resolution, 

 and several bills increasing railroad taxation, but 

 they were all defeated in the Senate. A biJl for 

 municipal ownership also was defeated. The Gov- 

 ernor sent another message, asking for a joint 

 resolution authorizing a suit against the Hender- 

 son-Ames Company to recover the money lost to 

 it by the State in the transactions of the military 

 board, and such a resolution was passed, as was 

 also a concurrent resolution asking the State 

 Board of Auditors to allow all lawful expenses 

 incurred by Ingham County in the trial of State 

 officers. The Auditor General was authorized to 

 pay relief claims of soldiers of the Spanish war 

 to the amount of $40,000. 



A second special session for the same purpose 

 was called to meet Oct. 10. The Governor's mes- 

 sage dealt entirely with the issues mentioned in 

 the call, the consideration of a joint resolution 

 permitting submission to the people of a consti- 

 tutional amendment authorizing taxation of rail- 

 roads and other corporations on the cash value of 

 their property instead of on earnings, as at present, 

 and the repealing of the special charters of tin- 

 Michigan Central, Lake Shore, and Grand Trunk 

 Railways. This time the bills recommended were 

 passed, and adjournment was taken Oct. 15. 



The only other measure passed was an appro- 

 priation of $2,500 for rebuilding the wall of the 

 industrial school. Following is the text of the 

 constitutional amendments : 



" SECTION 10. The State may continue to col- 

 lect all specific taxes accruing to the treasury 

 under existing laws. The Legislature may provide 

 for the collection of specific taxes from corpora- 

 tions. The Legislature may provide for the as- 

 sessment of the property of corporations at its 

 true cash value by a State board of assessors, and 

 for the levying and collection of taxes thereon. 

 All taxes hereafter levied on the property of such 

 classes of corporations as are paying specific taxe> 

 under laws in force on Nov. 6, A. D. 1900, shall 

 be applied as provided for specific taxes in section 

 1 of this article. 



"That section 11 of Article XIV of said Con- 

 stitution be amended so as to read as follows: 



"Sec. 11. The Legislature shall provide for a 

 uniform rule of taxation, except on property pay 

 ing specific taxes, and taxes shall be levied m 

 such property as shall be prescribed by law; pro 

 vided, that the Legislature shall provide a uni 

 form rule of taxation for such property as slia! 

 be assessed by a state board of assessors, and the 

 rate of taxation on such property shall bo the 

 rate which the State board of assessors shall asrer 

 tain and determine is the average rate paid upon 

 other property upon which ad valorem taxes are 

 assessed for State, county, township, school, am 

 municipal purposes. 



"That section 13, of Article XIV, of said Con- 

 stitution be amended so as to read as follows: 



" SEC. 13. In the year one thousand nine him- 



