The Portland daily press., 1874-02-05
BY TELEGRAPH.
THE STATE CAPITAL.
Especial to Press.1
Savings Bank Bill.

Savings Bank Bill.
AUGUSTA, Feb. 4.-The following bill will be
presented at the meeting of the Committee on
Banks and Banking tomorrow, by Mr.. Reed OF
Bath. 1t meets very generally with approvai
by leading banking men here, and it is under
stood that the committee view it with favor.
The following is a synopsis of the bill:
Section forbds payment of interest on in
dividual deposits exceeding $4,000 after April 1,
1875 or deposits exceeding $4,000 after April l.
1876; on deposits exceeding $4,000 and accumu-
latiops of dividends thereon after April l, 1877,
trust funds excepted
Section 2 imposes in addition to a school tax
of one half per cent, further tax in behalf
of the State of one half per ceni. payable semi
annually, April LIST and October 1st.
Section exempts all deposits from munich
pal taxation.
Section carries one half per cent. per an
mum as now to the reserve fund. In case of the
closing up of any bank said fund or any re-
mainder thereof, after meeting all liabilities, to
escheat to the State.
Section provides that dividends be declared
uniformly April LIST and October 1st and only
on deposits of at least three months standing.
Section prohibits any treasurer of savings
bank with deposits exceeding $5nO,0O0 to be an
officer of national bank, and in case the treas
urer of a savings bank having deposits not ex
ceeding 100000 should be an officer of a ma
tIOudl UdDk, DOb more tDd0 one ttuStcc VI Sdiu
savings bank shall be o director, nor more than
two trustees shall be stockholders in the ma
tional bank so connected Herewith.
Section prohibits any officer OF trustee of
savings bank from taking any fee or broker
age.
Section provides for uniform optional no.
tice of thirty days for withdrawal of deposits
exceeding S., and sixty days for withdrawal of
deposits exceeding $500.
Section allows Presidents moderate COM
pensation for services, not exceeding $500 per
annum, and trustees 80 for ecah attendance at
regular meetings of the Board.
Section 10 makes it the duty of treasurers of
savings banks to report annually statement in
detail of the par value of the several kinds of
SECURES owned by the bank, and also the price
paid for each.
The bill does not include any geographical
restriction in investments, nor does it allow the
loaning of funds on names alone.
Personal
Enoch Knight, esq. delivered his lecture on
the "Story of the State of Maine," in the Rep
sentatves Hall this evening to a good audience,
in spite of the awful travelling. The lecturer
realized most signal success, receiving at its
close the most flattering enconums from those
present
Deering VS.. Westbrook.
The Committee on Legal Affairs gave hear
ing this afternoon on the Deering and West
brook school property cases. Hon. b. Brad
bury and Col. Mattocks appeared for the town
of Deering, and S. c. Strout, esq.,, for West
brook. The committee stand six for petitioners
and two for remonstrants
The Financial Committee.
The Financial Committee had up the resolve
donating $4,000 to the National Monument As
socation of plvmoutb Noes Tho oon, n,ittoe
will report leave to withdraw
They also gave hearing on the memorial OF
the Trustees of the Maine General Hospital.
DR.. Hill of Augusta, appeared in support of
the memorial. The hearing was adjourned to
some future day of the session.
Ways and Means.
The Committee on Ways and Means had up
the case of the Town Treasurer of Richmond
This question involves rather principle than
any large amount of money. The point is as
follows: The State tax of 1872, amounting to
$5OOO was due JAM l., 1873, and not paid. In
April, 1873, the Selectmen of the town request
ed the State Treasurer to issue his warrant for
the collection of this tax By this course $4,000
was collected of the Town Treasurer and the
town paid the balance. There is $3.50 still due
for interest, as the law oblges towns to pay in
terest frcm the date of the warrant when such
warrant is issued, and no interest is charged
even if there is delinquency when no warrant
is issued. The town now ask for abatement of
the interest. No decision was reached to-day,
but the impression prevails that the town must
pay, as otherwise 1t will create bad preced-
ent.
The Berwick Case
In the matter of set off of a portion of
Berwick to South Berwick, Judge Hobbs and
A. Cakes appeared for the petitioners, and w.
j. Copeland for remonstrants. The committee
will report leave to withdraw.
The Bridsten Normal School.
The Committee on Education gave hearing
on the petition to create new Normal School
at Bridgton. The Trustees of Bridgton Aca-
denny offer to turn over to the State property
valued at $20000 provided Normal School is
established; the grant to revert to the Trustees
whenever the school shall be discontinued by
the State. Maj. H. A. Shorey of Bridgton, P.
Tolman of Harrison, Luke Brown of Bri1g
ton, Judge Woodbury. of Bethel, and Hon.
Warren johnson appeared in behalf of petit
TONERS The committee give another hearing
on Friday.
Railroad Business
The Railroad Committee will report leave to
withdraw. to the petitioners for bill for union
depot at Berwick
They will report bill for the extension of
the Somerset Railroad, and authorizing the
Somerset and Kennehec Railroad Company to
relay track below Kendalps Mills.
The hearing on the bridge across the Penob-
scot river at Verona is adjourned to Friday.
Wednesday next is assigned for hearing on
bill requiring connection of all railroads of the
| same guage.