Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1866-11-23
Legislature of Vermont.
SENATE.
WEDNESDAY. Nov. IL

tain proceedings of the town of Essex h 2l2 to
pay Giles VI Carpenter the sum therein named.
The amendments proposed by the house to
Is authorizing the Mt Mansfield hotel co to
issue bonds, and SO relating to the commits
sioner OF the insane, were concurred in
THURSDAY. Nov. Is.
House bills passed-h II in amendment to
sec 90 chap 2f Of the gen stat relative to the
laying out and discontinuIng highways and
bridges 1873 to incorporate the Otter Greek
steamboat co h 2l4 to change the name of the
Mlnooskl marble co h 30 to incorporate the
Valley Cheese manufactory Of Hinesburgh b
259 to establish a State normal school.
II 20 TO legaiize the vote Of the town meeting
Of the town Of Shoreham held March II 1865,
passed with proposal Of amendment 192 in
amendment to sec chap II of the gen stat re-
lative to fees for registration, passed with pro
poSal of amendment
II l67 in amendment to sec 40 chap % Of the
gen stat relating to providing for district schools
in certain cases, passed with proposal of amend
ment.
FRIDAY, Nov. 16.
House bills passed-An act relating to div
orce, alimony, custody Of children h 258 to
protect fsh In Shelburn pond
Fl POI relating TO appeals from the judgment
ofjustices in civil cases h 10 relative to the
qualification Of voters, and l07 to provide for
the restoration and preservation of fish in the
state Of Vermont, passed with proposal of
amendment.
The amendments proposed by the house to
IA to amend an act to incorporate the city Of
Burlington, were concurred IN
Saturday. Nov. Il.
House bills Passed-h POI granting certain
powers to Addison county grammar school
220 in amendment to sec Q chap 6S of the gen
stat relating to the estates Of homestead and in
dover /; b 245 to prevent injuries to highways
275 making provisions for the support of the
government h l5S Incorporating the village of
WinooskI h 272 defining the jurisdiction of
town clerks
The house amendment to relating to the
earnings Of married women was concurred IN.
House bills passel-h lGG in amendment to
sec II chap Is of the gen statute, relative TO
fire districts 263 empowering incorporated
villages or towns to have and maintain lock-ups
or Jails; 2l3 in addition to chap 50 Of the
gen stat, of the court Of chsncery, with amend
ment; 267 in amendment to sec 20 chap lib,
to prevent the deposit Of pOisons on lands;
l24 relating 10 the right Of fowage; 2i2 IN
addition TO No 81 Of the acts of 1865 relative to
the fees Of shsrifs and constables; 26S to pro-
vide funds for the State reform school
The amendments Of the house to so to pro-
vide for highways, and 100 to provide for the
regulation and government of the Vermont
form school, were concurred in.
HOUSE.
Wednesday, Nov. II.
Senate 5iH pGssed.-S 2S authorizing the
Mount Mansfield Hotel Co. to issue bonds, with
amendment; bill IS relating TO times of hold
ing Supreme Courts in Windsor Co.
Thursday, Nov. 10.
Senate bills pdssed-S to amend 81 50
2 relating to bank commissioner, with amend
ment which was adopted, [making his salary
S150l; Sc relating to the collection Of town
taxes; 5 lO3 to appropriate money for the State
Library.
Friday, Nov. 16.
Senate bills passel.-S A to amend the act
Incorporating the city Of Burlington; 8 lO4 to
authorize the town Of Woodstock aud other
owns to RAISE money TO build railroad; %
20 incorporate The St Albans Marble Co.; 8 81
in amendment Of sec l chap 22 relating to
the board Of education, with amendments re-
quiriug the board Of education to be elected by
TIE legislature instead Of appointed by the Coy
ernor; so to provide for the repair Of high
ways. with amendments; 100 for the rogula-
tion and government Of the Vermont State Re-
form School, with amendments; Is to repesl
sec IL chap s. relating to insurance CON-
plnies; 30 providing that towns may elect a
collector Of taxes.
SATURDAY, Nov. II.
II 10 to provide for taxing the shares Of
private corporations, was taken up, the question
being on its passage.
Mr. Clark Of Poultney stated that the bill
would probably embrace about 81 900, 900. Of
railroad property, reaching the Vermont and
Canada, the Passumpsic and Csstleton and
Whitehall railroads, besides other corporations.
Dir Park Of Bennington opposed the bill. He
beiieved that the passage OF the bill would de-
crease instead Of increase the grand list Of the
state, and that the taxation of the state would
BE- increased under it, and that within the next
two years. This bill proposed first TO tax the
banks Of the state (exempting national banks)
and these would be wound up within the preselt
year. As to railroads, the bill would not reach
the most important roads in the state-the YER
mont Central and the Rutland ard Burlington
for the reason that the stock was worthless,
and the roads run by trustees of bondholders,
while the smaller roads would be heavily taxed.
He referred to the proposition to form corpora
tons by the Vermont Central and the Rutland
corporations were to be taxed, il would prevent
capitalists from investing heir money in them.
and thus prevent important roads in the state
from being run by corporations instead Of by
trustees as now. He had an interest IN the in
crease Of railroad facilities in this state, and had
urged capitalists TO invest their money in these
because Of the friendly legislation Of
this state, but pass this bill, and tax the stock
Of these roads, and not one dollar of foreign Ca
pital would ever be invested IN them. If we
could not have the roads without exempting the
stock from taxation, let us do it; but let us
have the roads, and thereby raise tie value Of
all property on the lines Of the roads. and raise
the grand list Of ths state, instead Of reducing
It by preventing them from being built by un-
friendly legislation. Foreign capitalists would
never invest money where they must submit to
the whole list of taxes county, town, village
and school district, as well as state. Towns had
asked TO be taxed that they might build rail-
roads, and yet the state would adopt q policy
that would drive out Of the state the very capi-
tai required to build them. He understood that
the bill was designed to reach the Vermont and
Canada road, whose stock was worth something
in the market, and in order TO reach the taxa
ton Of that stock, gentlemen would strike q
blow at the great railroad enterprises Of the
state. The roads had all they could do to live
now, and if they are taxed, they must make it
up in increased rates that they would be obliged
to charge.
The next property taxed was private corpora
tons, and that on the market value Of the
stock, and if done in the manner proposed by
the bill it would tax such stock for much
larger proportion than other property. He
cited an instance Of the formation OF a corpora
tion for the purpose Of developing some hidden
marble quarry. A company was formed on
foreign capital which was brought into the
State, and for the first one or two years they
spent money without receiving any returns
But eventually they strike what appears to be
a rich vein. and their hopes are raised. and with
il the value Of the stock in the market. and the
State here comes IN and imposes a tax on what
is really a fancy market value Of that stock,
when il really procIces not more than two or
three per cent on the money invested. II was
unjust to tax such stock to the detriment Of the
DEVELOPMENT Of the resources Of the State
Again, such stock was taxed in the localities
where il was owned and to tax the stock again
in this State was an act Of injustice, and would
drive capital cut Of the State. and no corpora
tons would ever again be formed in the State
for the purpose Of developing the resources Of
the State. The State OF New York did not tax
the stock Of their corporations, and il would be
IN iuduca canifalisrs of that Sfafa