Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1884-10-10

earlier StarrS of it, enforcement but through
the wise selection of tGr present Commits Toner
10y my predecessor, the lornulati0u ana pre- .
puratiun OF the proper blanks ana mrthod~
for the fulfilling ui th" statute Was attained
and this work was supplemented by the zen
cl1,l willingness ON the part oi the officers "l
thC various corpur ,tiuu> to comply with the
requirements ui the same, so maj All inc cor
poratiuuS and persons reached 10y tins law,
with II single exception. hlN" mad" ia" returns
required by the same, and taxes were ASSESS
ed during the calendar year lSS} hH follows,
viz:
ON Express companies. ............... sl,H'S ~
" Telegraph cOmpanit S.............. 5'i ~
" Telephone companies ............ Df ~
" Steamboat. Car and IranSporta- -
ion company. .....-........ .,el3 ~ .
Railroads o.. OBSERVATION-DISCLOSURES. Sl,llG w
" Savings Banks ............ ....-... o2,lll ~
Trust companies ................ p,bi "a /
Home Insurance companies ...... 6'16S ~
Foreign ....,. l5''s1 Nv
Making Il total for the year Sl99'}1 u
All which have been paid into the Treasury
except S.6jS.5l, the second scmi-anntal assess
mcnt of the St. Adams Trust Co., making
amount received 10y the Treasurer ~ appears
10y hislrcport, sl9i,d7S.5l: of this amount the
sum of Si6,5U.Gl was paid under protest.
The table attached to the Commissioners
report showing what corporations, compan-
les and persons mad" payments under protest,
and their reasons for the same as shown 10y
the report. NOu will find deserving of careful
notice for the better dealing with the Su@Ec~-
tons and recommendations which the report
contains
The protest of the Trust Companies extend
to Onr-hali their assessment only ana are bilo-
. ed upon a question involving II point OF con
SttutiOn IlitN in "A section of the law itself they
alleging that the law unjustly di>crimlnatrs
between them and tn" Savings Banks IN com
polling them to pay one per cent, upon the
average amount of their deposits. including
trust funds and securities, while but on"-halt
of one per cent upon tn" average amount of
deposits and Accommodations Is imposed upon
the Savings Banks.
There are now pending four suits at law
against corporations assessed under this sta
tute, the basis ON which each is prcdtcatcd
and the statement of the defence claimed by
the defendants in each is FUZZY ana clearly set
forth in the report of the Commissioner and
us the defence in each case rests upon grounds
distinct from the Others, they will scNeraly
call for your analysis and action IL you regard
furt her legislation requisite to the ends OF
justice.
The suggestions and recommendations of
the Commissioner relating to section of the
act cmbody the conclusions of the only one
who must have been fully impressed with
their importance and necessity, and recon-
mend that his suggestions he met by suitable
amendments for the better practical workings
of the law.
Sections H. r. b. Ii, Is and ~, have all UNI
dcrgOnc the careful test of their practical APP
picabity to meet the designs and aims of the
law, and commend their consideration To
you in detail III view of the suggestions con
tanned in the commissioners report.
am aware that my predecessor. Governor
BnrStow has given much careful study and
reflection to this subject, both in its general
aspect and in its details during his executive
term, and we may well anticipate as we enter
upon ITS consideration mere lllal We VIII llIIl
in his retiring message much that Will ald us
in connection with the Commissioners report
in rightfu comprehension of our duties at
this session i'll respect to IT,
Trust Funds.
After his usual clear and accurate manner
the Treasurer sets forth the several funds held
in trust 10y him at date of August LIST last. VIZ
The Agricultural Collcg" fund dn-
vested wholly in Vermont reg
istcrcd bonds of lSSOJ SlIj,IN %
Bpuulugl ON Battle Monument tllnd, 2O.hW w
This fund being invest d in three
per cent registered bonds
National Iif" Insurance Company
fund. dcpositrd under Act of
Nov. II. 1874, all in L. :. four per ,o-..., ..
BurIington Life Insurance Com
is;i, I0? liz ~
, Thi, last fund i, invested in notes and mort
4 gaqc>. Darlington city bonds burlington Ga.
Light Company stock. Merchants National
Bunk. burlington. straightforward and National
u XII thc-c inyc. incut- of tru-, funds for
which tho sat" h. hpliru. however rufrtulI,
; and iudiriou-Y made. ,h"Hld always "' tc-
@tr,ini with closest scrutiny Wid concern 10y
Itl-adul, wAjrh y.-iGur auI economic
people Wilt always exact ANA haze tine re"I
HauduIou To- tine ahuNclh" state Treasury
% u.ia- tur T.. r. Deposit Money "Wrlun''
10 .u~ towns Wud -"r"> iu In" aW"'u "i eI''.E''.-
i Il'~ ilili me J. IlllI lllI lli -' MI
. the hiuj- col Tine Nl.uc NOT heretofore among
q THESE hl-h, important ANA perpetual response
hI.Itn~, refer Co the "liuutiu4tuu FUND
o which the Treasurer, I'm pursuance OF JONI
:, resolution of tine General Assembly of lN~!
~ authpyIIuG him to collect ANA receive Of tnt
. executor of the last viii of Nruulh Hunting,
- tom late of BumtiOrd. Pc. "ull the prOpcr
" to which the state WIS entitled under SALT
II. Will. and deposit the same IN the State Treas
}" ury." has. with the counsel and assistance ri
Il the state Auditor, successfully accomplishc,
q and deposited the net amount SO received, Il
:, wit SOD l.@, in the Treasury, in the month
= of April, \. u. lSSi
This fund was collected in the kind of vari
Gus stocks bonds, notes, sGr'pi dr'i l cash
Is cr's report, some of which have already beer
= converted into other investments, rs therein
Ic specifically shown, 50 that the amount ct thi
= Trust Fund AT date August LIST, lASi is, pa
value, S2l9, Njt31.
This has been received" and deposited II
above stated, and the Treasurer's duty in tn
premises is ended.
rs 1t now becomes your duty, gentlemen, T.
v take such measures in legislation ms shall So
nj cure to the Government and Legislature q
lc the state of Vermont this fund and its propc
IT invest ncnt and direction for and to the en-
a. and purpose sought to be attained 10y the test
X For the use and benefit of the commo
Of schools. How this may be best brought abou
will he the subject OF your candid discussion
IN delibcration and legislation.
ne That the recommendations and suggestion
N of the testator toe treated with your consider
ht ate and careful regard so far as the same ma
\ he clearly practicable and in no measurub
Ill degree AN iinpedincnt or hindrncc "a the al
tainmcnt of the high purpose and end sougl
IN to he accomplished under the will, | woul
y earnestly recommend.
Iir But above all these considerations such leg
al iSlatiun should be had ms will best carry on
Is and ON this trust for the sole use ana benct
II OF the common schools.
of How may this be best accomplished nj you
mr. handsi
IT, | have not yet seen the report of the super
intendcnt of Education, but have hnd occi
Ill sion to confer and discuss this question in
ul limited degree with him and more NJ lcngt