In re Claim against Chelsea Savings Bank, et al. for amount on deposit when the bank became insolvent: $685,587.79. Amounts paid: March 12, 1908, by American Surety Co. (see In re Feb. 2, 1910, U. S. Fidelity & Guaranty Co., Baltimore, Md. 46,487 18 25,000 00 (Full payment under depository bond.) Feb. 3, 1910, Bankers' Surety Co., Cleveland, O.... 17,500 00 (Full payment under depository bond.) Feb. 8, 1910, Title Guaranty & Surety Co., Scranton, Pa. 25,000 00 10,000 00 Mar. 29, 1910, (Part payment under depository bond.) 42,068 26 Federal Union Surety Co., Indianapolis, 5,000 00 (Part payment under depository bond.) June 4, 1910, Federal Union Surety Co., Indianapolis, Ind. 5,000 00 (Part payment under depository bond.) Total amount paid in fiscal year 1910... $129,568 26 Total amount paid 1908 to 1910. $502,760 55 From present indications the state will also recover the balance outstanding of $182,907.24 as it is offset by an unpaid balance of $37,500.00 on the depository bond of the Federal Union Surety Co., which will no doubt pay the same during the next few months; by a prospective dividend, approximately from $12,000.00 to $15,000.00 from the receiver of the Metropolitan Surety Co., of New York, on a depository bond amounting to $25,000.00; and by Mr. Glazier's official bond of $150,000.00 given by the Title 'Guaranty & Surety Co.; besides all of which a further dividend will be forthcoming from the receiver of the bank. In re Frank P. Glazier, Bankrupt. Proof of claim of the State of Michigan for the amount of the deposit in the Chelsea Savings Bank, was forwarded to the referee in Bankruptcy, United States circuit court, eastern district of Michigan, southern division, in equity, October 6, 1908. In re Claim against The Metropolitan Surety Co., on account of $25,000.00 bond (In re Chelsea Savings Bank). This corporation having been dissolved, and a receiver appointed by the supreme court of the county of Albany, New York, proof of claim of the State of Michigan was forwarded to the receiver, John F. Yawger, New York City, April 3, 1909. Notice of rejection of claim and of motion to appoint referee, received in July, 1909, and on April 26, 1910, the claim submitted before the referee in New York and liquidated at $21,000.00, at which amount it was allowed and the State of Michigan will receive dividend on this amount. In re taxes of Detroit, Grand Haven & Milwaukee Railway Company. The attempt by the state, in proceedings lately pending in the supreme court to bring this company under the ad valorem system of taxation the same as other railroads, having proven unavailing, by reason of decision adverse to the state's claims, measures have been taken to compel it to pay the full rate required under its special charter. Section 9 of Act 140 of 1855, requires it to pay one per cent upon its capital stock paid in; it is believed that the $25,171.40 which it has heretofore paid is not one per cent upon its full capital paid in. On May 21, 1910, the auditor general, basing his computation upon the several reports of this company and other data determined its capital stock paid in to be $7,000,000, which would produce a tax of $70,000. Demand for this amount, less the $25,171.40 heretofore paid, as the tax due July 1, 1909, was made on May 21, 1910. This amount has not yet been paid and proceedings to enforce its collection seem to be necessary and, unless payment is made, will be instituted. The result, if the state is successful, will be to increase the taxing basis of the company about $45,000 per year. The back taxes for a considerable number of years will also be included in the proceedings. In re Wisconsin and Michigan Boundary. A report relative to this matter will be prepared and submitted separate from this annual report. SCHEDULE “I.” Statements of amounts received as reimbursements for costs of suits. J. B. Draper, as administrator of estate of Mary H. Craig, deceased, vs. Interstate Life Insurance Co., received in January, 1910, $9.70. SCHEDULE "J." List of insurance companies whose articles of association, amendments to articles of association, etc., have been approved, and a statement of the amount received as approval fees and paid to state treasurer. Total $95.00. Grand Rapids Merchants' Mutual Fire Insurance Company for the counties of Kent, Allegan and Ottawa. Charter approved, July 12, 1909. Fee... Grand Rapids Life Insurance Company. Amendments to Articles of Association changing the name of the Company to "American Life Assurance Company," changing the principal place of business from Grand Rapids, Michigan, to Bay City, Michigan, and reducing capital approved Sept. 20, 1909. Fee... Patron's Mutual Fire Insurance Company, Limited, of Montcalm County. Amendments to charter approved October 12, 1909. Fee Farmers' Mutual Fire Insurance Company of Presque Isle County. Amendments to charter approved October 21, 1909. Fee $5.00 $5.00 $5.00 $5.00 The Preferred Life Insurance Company of America. Articles of incorporation approved October 25, 1909. Fee.. $5.00 Federal Casualty Company, Detroit, Michigan. to Articles of incorporation approved Jan. 4, 1910. Ann Arbor Railway Employes Relief Association. Amendments to Articles of association approved Jan. 15, 1910 Fee.... $5.00 Patrons Mutual Fire Insurance Company, Limited of Genesee and Shiawassee Counties. Amendments to articles of Association approved January 25, 1910. Fee.... Mutual Casualty Company of Grand Rapids, Michigan. Amendment to Articles of Incorporation approved Feb. 1, 1910. Fee Lapeer County Farmers' Mutual Fire Insurance Association. Amendment to charter, approved Feb. 5, 1910. Fee..... Farmers' Mutual Lightning Protected Fire Insurance Company of Michigan, Limited. Amendments to articles of association, approved Feb. 9, 1910. Fee.... Patrons Mutual Fire Insurance Company of Lenawee County. Amendments to articles of association, approved Feb. 12, 1910. Fee The Railway Conductors Co-operative Protective Association. Articles of incorporation, approved Mar. 12, 1910. Fee..... $5.00 $5.00 $5.00 $5.00 $5.00 $5.00 The Preferred Casualty Company of Saginaw, Michigan. Articles of association, approved Mar. 27, 1910. Fee... $5.00 The Italian Mutual Fire Insurance Company of Laurium. Charter as amended approved April 4, 1910. Fee. $5.00 The Citizens' Mutual Fire Insurance Company, of Calhoun County. Amended articles of association, approved, April 30, 1910. Fee $5.00 The Farmers' Mutual Fire Insurance Co., of Ottawa and Allegan Counties. Amendments to charter, approved, May 3, 1910. Fee Northern Assurance Company, of Michigan. Amendment to article four of the articles of association, approved, May 4, 1910. (No Fee). Detroit Casualty Company (of Detroit). Articles of incorpor ation, approved, June 22, 1910. Fee... $5.00 $5.00 SCHEDULE “K.” Summary Statement covering approximately all amounts collected and paid to the state treasurer, through the attorney general, during the fiscal year ending, June 30, 1910, Trespass on state lands (People vs. Hayes, Sch. "A.").... ... Michigan Central Railroad Case, settlement (Seh. "D.") $300 00 125,000 00 1,017 76 3,530 93 23,115 15 2,500'00 Manistique, Marquette & Northern R. R. Co. taxes (Sch. "H.") 80,244 65 Wisconsin & Michigan Ry. Co., taxes (Sch. "H.") 67,991 11 City Savings Bank, amount received "on account" (Sch. "H.") 4,525 78 Chelsea Savings Bank, "on account" (Sch. "H.") 129,568 26 |