Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1871-03-02
From the State House.

BOSTON, Wednesday, March /, 1871.
A hearing of considerable interest was held in
the green room this forenoon on several orders
relating to savings banks, one of which in re-
gard to limiting the dividends Of the banks to
81 per cent. semi-annually, and another prohib.
iting the declaring of dividends by new banks
on surplus earnings within five years of their
organization, and not oftener than once in two
years thereafter. A large number of bank Off
GERS were present, and the testimony Of eight or
ten witnesses was taken. Most of them were
in favor of no legislation on the amount
of dividends to be declared by the
banks, but of leaving the matter to the dis
cretiOn of the bank officers. 1t was claimed
that large amount of money was now deposit
ed in the savings banks of Massachusetts by
persons who resided out of the state, which
would be withdrawn if the amount of dividends
was limited to 2 12 per cent per annum. The
majority OF the witnesses were IN favor of di-
viding the earnings of the banks every six
months instead of the surplus earnings every
three or five years, as WAS now the custom with
many banks. Fixing the rate of interest on
loans was also opposed by several gentlemen
who were present.
A large number of petitions were put in to-
day in tayOr'of the annexation OF Charlestown
and Some vile to Boston, and in aid of the pc
tltioners for IL ten hour law.
An order was passed in the senate instructng
thecommttee on harbor> TO inquire and report the
nature and amount OF the yearly traffic through
the draws of Charles River and Fort Point cham
mel; ALSO the amount OF yearly traffic over SAID
river and channel including freight by railroad
and teams, carriages of various kinds, and pas
sengers by railroad, street railroads, or foot,
and by all other conyeyances.
An order was passed IN the house instructing
the committee on the judiciary to inquire into
the eXpediency of reporting bill in relation to
the powers of trustees.
The following reports of committees were
made: In the senate-Bils to increase the capt.
| tai stock of the Lowell gas-light company to an
amount not exceeding 100000; to incorporate
| the Boston ba e ball ASSOCIATION; to incorporate
| the Walaston hotel company, Quincy, with
capital of 500 900. In the house-Bills to au-
thOrize the Salem gas-lght company to increase
its capital stock by an amount not exceed ig
500, 900; TO provide for the use of check list
in the election of the officers of fire districts;
for supplying the city of Fall River with pure
water; to increase the jurisdiction of trial JUS
tees over certain offences; to increase the luris-
diction of the police court OF Lawrence in per-
Sonal acfions.
The bill for the better discovery of testimony
and the protection of witnesses before the joint
special committee on the state police was dis
CusSed, several amendments were proposed and
lost and the bill was then ordered to be en-
crossed, under a suspension Of the rules. The
investigation before the committee on state
police will probably soon begin, they now hay-
ing all the power and authority asked for.
The bill to incorporate the Bryant literary So
cety of Williams college was rejected.
The report in relation to the navigation of
Charles and Miller's river and Fort point cham
nes was laid on the table.
In the house. the resolutions in favor of ship
builders of the United States was specially as
Of on Friday NJ d O1nlOalr
The resolves in relation to the repeal of duties
on coal, and to incorporate the young mems
Christian association Of Fitchburg, were passed
to be engrossed.
The bill to authorize the formation of railroad
corporations came up by special assignment mt
q o'clock, and the house decided to take the
vote on the question at 8! o'clock. A motion to
order the yeas and nays was lost. MIR. Sanford of
Taunton, one of the committee who reported the
DILL, made the closing speech in its favor. He first
spoke of the assertions which had been made,
that the bill was in violation OF the constitution.
He claimed that it was not; that under the
constitution only three things were neceS-
sary TO make the taking of land legal, viz:
Ii must be taken with the consent OF the
legislature; it must be taken for public use, and
reasonable compensation must he paid for it.
The proposed bill complied with all these pro-
visions, the roads organized under it would have
to pay for the land they took; the roads would
be used for the benefit of the public, and the
corporations were TO De given the right 10 take
land tue same as existing corporations were
given that right. 1t was not private individuals
which we're given the right to take land, it was
corporations; the only change in the bill pro-
posed was in the method of creating those cor
poratons. He claimed that the bill did not
originate as had been stated with the
railroad commissioners, and that their powers
under it were very small, and he was willing
the power they would have should be given to
oIner officers if the legislature SO desired The
new bill he claimed would obviate many of the
difficulties Of the present system, particularly
the delay which was now occasioned, and the
strategic legisla ion which was now shame to
the commonwealth. He also claimed that ex-
listing roads favored or opposed this bill, as they
would favor or oppose any bill which might be
| presented, according as it affected their mme-
| diate interests. Thes did not want it, he said,
If they did they would come to the state house
and they would have it. The reason they did
not, he thought, was because they did not know
| what was for their own interest.
| AT the close OF Mr.. Saniord's remarks the vote
on the bill was taken by sections, and various
amendments proposed were adopted. The vote
on ordering the bill as amended TO a third read
ing was then taken, and Il large majority voted in
the negative; so large that the vote was not
doubted, and the chair declared the third read
ing Of the bill to be refused.