The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-02-03
Afternoon Session.


the House to be the motion by Mr.. Gibson TO lay
the bill, II. b. No 1856, VITA all amendments, on
the table,
The motion was lost-yeas IS, nays 40.
the question now required on the motion of
Mr.. Stewart that the bill, with amendments, be
referred to special committee of three, who
should incorporate the amendments and report
the same back to the House not later than next
Tuesday.
made the committee to consist of Messrs. Stew
art, Wilson of Marion, and Snockney.
CUTTING OFF DEBATE
Mr.. Heffren's amendment to the rules, provid-
ing that NO member should be allowed TO speak
longer tnan nVe minutes on motions, resolutions
and amendments, except the mover, who should
have five minutes to close the discussion, was
now called up and adopted.
REPORTS FROM COMMITTEES.
Mr.. Prutt, from the committee on agriculture
reported back Mr.. Mock's bill, II. B. No. 81. n
bill to provide for the taxing of dogs, with u
recommendation that the bin pass, with certain
amendments The report coneurred in, and
the bill passed TO second reading.
Mr. HetfreLs bill, II. b. No A to repeal the
act protecting sheep hushandry, was reported
back from the same committee, with the recOm-
mendatiOn that 1t be indefinitely postponed
The report was oOncurred in.
Mr. spann's bill, H. B. No. $40, to amend sec
ton 2, III of the Revised Statutes of 1881, CON
ccrnlng public oftenses and their punishment,
was reported back from the same cOmiuittee
with "A recommendation that it be indefinitely
postponed. The report was cOncurred in.
Mr.. Cahbsge's bill, H. B. No. POS, 10 encour-
age the protection of breeders OF tiae stock was
reported back from the same committee, with a
recommendation shat it be indefinitely post
poned. The report was cOncurred in.
INTEREST ON SCHOOL FUND.
Mr.. Antrim's bill II. b. No 10, TO regulate the
interest on the school fund, was reported back
from the committee on county aud township
business with the recommendation that the
Dill be amended by making the interest 7 per
cent. instead or 6, and that when amended
the bill do pass. The report of the commit
tee was eoncurred in, the question recurring
on the adoption of the amendment.
Mr.. Wilson, of Marion, understood that about
% per cent of the school fund had been loaned
at the present rate. per cent, and he was
credlhly informed by persons of financial fore
sight tha5 there would be no difficulty IN lOaning
this fund for the next two years at the same
rate.
Mr. Gordon could see no reason why the inter
est should he reduced below per cent We
should look to the Interest of the school fund and
not to the interest of persons who desire to Dor
row this money. He believed with the gentle
man from Marion tAIr. WILSON, thai there would
he an increase instead of decrease of the de-
mand for the school fund in che next two years.
He had been informed that there had been IA de-
crease in the length of the school terms in this
State and if this nil should prevail there would
OF necessity besfurther decrease in the length of
the school terms.
Mr.. Moody did not think that extort1on was
right nor That if every dollar Of The school fund
OF the State could be loaned at 10 per cent. to
the already burdened taxpayers OF State
VINO hold this money mat 10 would be just for
us &c compel them to pay that rate On ex-
animation OF the records in the recorders
offices of the State, gentlemen will find that
this large and magnificent fund is loaned to
several Land owners of moderate means, who, of
all men, should he protected from nsnry and eX-
torton. These funds are loaned in small amounts,
ranging from $500 to $500 Every man taking
IA loan of this fund must pay the interest IN ad-
vance, pay for an abstract of title costing him
from $3 to So, nay for a mortgage and the re-
eOrdlng thereof, winch amounts in the aggre-
gate to about So or IS. We do not think it right
To say that corporations and individuals may
c0ntra't for and receive the highest rate of in
tpfnst their money will command. Int we haV Va
made the legal rate g per cent. Why, then,
should we saw that this fund shall not be loaned
for less than per cent? He thought the fund
should he loaned at per cent.
Mr. Smith read from report in which he had
in his possession, showing the amount of school
fund IN each county, and also the amount
loaned. The report showed that "A very large
per cent. of the school fund of each county was
loaned at the present rate of per cent. He
stated that the testimony went to show
that many counties could loan twice the amount
which they have at the present rate, ami some
claim they could loan twice the amount NJ 10
per cent He was not in favor of reducing the
rate OF interest while the money could be loaned
at s per cent.
Mr.. Heffren favored a per cent rate, but if
the House will not agree to that, then he would
favor Z per cent rate. He moved that the
anne ndment he laid on the table.
The motion was agreed to-yeas 90. nays Ia.
Mr., Hanson made an Intellectual Inutlon-yeas
30, nays 42-to indefinitely postpone the further
consideration of the bill.
STATE GAS INSPECTOR
BY consent, Mr., Chittenden, Of Madison county
introduced II bill, H. b. No 3o5, for an act To
create a State inspector of gas meters. Ii was
read IA first time and passed to IA second reading
BILLS INDEFINITELY POSTPONED.
The following described hills were indie tinitely
postponed by concurrence in committee reports
so recommending:
Mr.. Wilson's, OF Marion, II. g. No 10, to
amend section 50 of the general city incorpora-
lion act.
Nj Beooks'', II B y OF, supplemental to