Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1871-03-03
From the State House.


| Another hearing in reference to savings banks
was held this forenoon, the subject under con-
sideration being the recommendation made in
| the governors message that the tax on savings
banks should be increased Hon. Francis L.
| Parker appeared as counsel for the savings
banks of the state, and opposed any increase of
the tax on the same. He claimed that the
banks already bore their proportion OF the pub.
lie burden. Besides the tax paid to the state, of
seventy-tive one hundredths of one per cent, the
banks had to pay one and a half one hundredths
of one per cent as tax on the real estate which
they possessed; twenty one hundredths Of one
per cent to the United States, and twenty
seven one hundredths of one per cent
for the Engagement of the bank, max
ing a total of nearly one and a quarter
per cent, which the banks had to pay out in
tax and expenses The banks could not realize
on sound investments, authorized by law, more
than seven per cent., and deducting the one and
quarter per cent. of expenses, they would
not be able to pay dividends of more than six
per cent. In reply to inquiries, one hundred and
twenty one Of the one hundred and thirty-nine
savings banks in the state had stated that they
could pay dividends of $3.50 per cent. to their de-
positors. Fifteen banks had replied that they
could pay over six per cent. If the tax on the
banks was increased, the amount of dividends
must be decreased; and if the dividends were
decreased, the money would be withdrawn from
the banks and placed where more would be re-
allied from it,
Mr.. Parker claimed that much of the property
in the banks would not be liable to taxation if
it was not deposited in the banks, was exempt
by law, and therefore that the banks ought not
to be taxed on it. He also claimed that the
property of savings banks was taxed to its full
value, while other property was ouly assessed
about eighty per cent of its value. For these
reasons he opposed any increase of tax as un-
just, and as injurious to the interests both OF
the state and of depositors Several witnesses
were examined, who agreed with Mr.. Parker in
the main, some of them advocating decrease
Of the present tax instead of an increase.
Among the petitions presented TO the legisla-
ture to-day were the following: OF the Norwich
and Worcester railroad company against the pc
tition of the city of Worcester for the removal
of tracks from the common and streets of that
| city; of the city Of New Bedford tor an amend
/ ment TO its charter so that the mayor and al
dermen may be. ex- offciiS surveyors of high
ways; of Douglas Frazer, major of the first bat
talon NJ. V. NJ, for an amendment of the mill
ria laws so a, to authorize the appointment of
| battalion chaplains; of W. B. c. Pearson and
others for police court in the town of Hol.
| yoke.
large number of reports of committees were
made in the house, of which the following
are the most important: Bills to supply
the city of Lynn with pure water; to re-
peal chapter 20S of the acts of the year So con-
| corning travel on Haverhill bridge; concerning
| sidewalks in Boston, authorizing the city to
| construct sidewalks and set edge-stones and as
sess the cost OF the same on the AUDITORS in
just proportion; relating to recording levies of
executors on lands not attached on mesne pro-
| cess; leave to withdraw on the petition of Milo
J. Smith and others, that portion of North
ampton be set off TO the town of Easthampton;
on the petition of w. B. Moody and Others for
the incorporation of the new town to be formed
out of the towns of Smithboro, Ashland, West
boro and Hopkinton; on the petition of John
w. Emery and others, for the repeal of an act
of June IS, 1905, incorporating the Federal street
| church in Boston; on the petition of A. Holm
quish and Others, for an act of incorporation as
the Swedish ladies' association of Boston;
on the petition of Lysander S. Richards and
others, for the repeal of all laws relating to cap.
| ital punishment The bill to authorize Trinity
church in B ston to sell land, and for other
purposes in a new draft. InexpediOus to legis-
late on the order TO consider the expediency of
repeating chapter $40 of the acts of 1870. That
the bill relating TO pleadngs in civil actions
ought not to pass.
AT 2 - O'Clock convention of both houses
was held for the election of two directors OF the
Boston and Albany railroad company. Presi-
dent Coolidge appointed as a committee TO col
ect, sort and count the votes for directors, SEN
ators Pierce of Middlesex, add Wood OF Wor-
cester, and representatives SJuthworth of West
Springfield, Pratt of Braintree, TORY of Wor-
cester, and Howe of Brighton. The committee
having attended to its duty reported as follows:
Whole number of votes. .................234
Necessary for choice. ..................1l9
Moses KImball had. ......... ........226
Avery Piummer had.
scattering. ACKNOWLEDGEMENTS. b