Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1874-02-10
LEGISLATIVE.

Saturday, the 3lst ult. bill was in
troduced 10 the Senate, to incorporate
the FIR, eburg Cheese Factory.
Monday bill was read and assigned
looking to The exemption OF Cemetery
lots from taxation. la ihs House u bill
to prevent gambling on railroad cars.
On Tuesday Mr. Foster presented al
order instrucling the Com. on Ways ano
Means. TO inquire into the eSpediency q
aiding the town ct Grafton to build
road through Grafton Notch. Mr. Mar
tin presented a petition from over
hundred citizens OF Oxford County, to
have single sleighs set over. Referred
TO Com. on Ways and Means. In the
House, Mr.. iloughlon presented peii
ton from G. A. Kimball and others to aid
In building . road from Upton TO An
dover.
Wednesday. the Com. on Education
gave a hearing on the petition TO estab'
fish q new Normal School ut Bridston
The hill has been referred 10 the next
Legislature. Senator Foster presented II
bill establishing the pay of Bank Exam
iner at Sl5 Tor each Bank examined, and
500 Tor preparing returns. An Order
prohibiting The distribution oi cutlery tO
The members of the legislature after 75
was opposed 10y Mr.. Woodbury. Of Cor
nish, and tabled. The bill TO establish
The Industrial School for Girls was a,
signed for next Tuesday.
Friday. the petition OF A 5. Twitchell
to remove toll IRON Bethel Toll Bridge
WAS referred TO the next legislature
The reports on The Coffin Drisko election
case were called up and . motion made
10 substitute the minority for the majority
report. The matter called out discussion
participated in by Mussrs. kimball oil
Waterford. Swasey of Canton. Powers oil
Houllon, kcllock OF Thomaston. Talbot
vi Esst Machias. The yeas aud nay 5
being called Tor resulted in yeas so, nays
81. The question thea was on tho accept
ance OF tile majority report. yea and
aay vote was taken aud resulted ia Yea,
80 nays 40.
The io!lo~ing is the bill relating to
Savings Banks presented by MIR. Reed ol
tie Com. on Banks and Banking.
Section loi bids pay ment OF interest
un indi, idual deposits exceeding SiOOO
alter April /. 1873, or deposits eac-edin2
$4,000 after April !. 1876, on deposits
exceeding $1,000 and sccumulaiions oi
III, idenis thereon alter April /. 1871,
trust funds excepted.
Seriiou impose, in addition 10 school
tax OF one hali per cent. n further lax IN
behalf oi the S,alc Ol one half per cent.
PAYABLE semi annually. April lot and
October lst.
Section cXempls all deposits from
municipal taxation.
Section carries ono half per cent. per
annum as now 10 the reserve fund. In
case ul the closing up OF ANY bank SAID
iund or any remainder thereof, alter
meeting all liabilities. to escheat TO The
) ate
Section 5 provides that dividends be
declared uniformly April island October
lst, and only on deposits oil Al least three
months standing.
Section prohibits any treasurer OF u
savings bank with deposits exceeding
$500 900 TO be an officer OF national
bank, aud in case the treasurer OF saw
ings bank having deposits not exceeding
$500 900 should be an officer OF nation
At bank. not more than one trustee Of said
savings bank shall be director. nor
more than two trustees shall be- stock.
holders in the national bank SO connected
Herewith.
Section prohibits any officer or trus
tee OF savings bank from taSing any lee
Tor brokerage.
Section provides Tor a uniform option
al notice ui Ihirta DAYS Tor Withdrawal oil
deposits exceeding s., and siSty DAYS Tor
withdrawal Ot deposits exceeding 5000
Section 9 allows Presidents moderate
compensation Tor services. not eNcet ding
$500 per unuum. and trustees 81 Tor each
attendance at regular meetings ot Inc
Board.
Section 10 makes it the duty OF treas
urers OF savings banks TO report annually
- statement in detail of the par value oi
p he several kinds si securities owned by
The bank. and also The price paid for each.
The bill does not include any geogrsph.
ical restriction in investments. nor does
il allow the loaung Of funds on names
alone.