The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1889-02-14


In regard to this plan, Senator Heath sub
mits the following observations:
5o.year 4oyear
Plan. Plan.
Average burden Of first 10
Average burden of next 10
years. ...:......:...... l4s.s5o 12e.55o
Average burden of last 10
Fourth decade. IO2,I5O
Total amount, principal
ana INTEREST,". 4,3l2,UOO 4,7l6,S9O
Amount of interest........ 1,512,0O l,9l6,390
Senator Heath holds that the saving of in
terest af the 3O-year plan over the 40-year
plan would be $404.39O or 14a per cent of the
entire loan. Mr.. Heath said it had been
suggested that 40-year bond would bring a
higher.premium than 3O-year bond, but no
one would contend that any premium could
be obtained to balance the loss in interest.
Mr.. Heath said, however, that banking men
in Augusta assured him that the 30-year bond
would sell as well as the 40 year bond.
Mr. Heath also thought that the bill should
require the State Treasurer to advertise for
proposals for the bond, instead of permit
ting the State Treasurer to sell them at pri-
Yate sale.
Mr.. Heath further suggested that if the 40
year plan was to be adhered to it should be
SO remodelled that the payments should be
larger at the last of the period instead of at
the first. In the future the State would be
Weather, and the debt should be adjusted
so that the next generation might bear its
just SHARE
Portland Street Sprinkllng Company.
The following bill relating to an important
Portland matter has been presented and is
before the Judiciary committee:
An act to amend the charter of the Portland
Street Sprinkling Co.
Sec. 1.-The Portland Street Sprinkllng Com
pany, a corporation organized under the general
law of this State for street sprinkling and other
purposes, whose certificate of organization was
third day OF April, 1886, and whose place of bus
iness is In the city of Portland, in the State of
Maine, is hereby authorized to lay down in and
through the streets of said city OF Portland. and
to take up, replace and repair all such pipes,
aqueducts and fixtures as may be necessary for
the objects Of their incorporation, first having OBJ
tanned the consent of the Board of Mayor and
Aldermen of said city therefor, and under such
restrictions and regulations as the said Board of
and any obstruction IN any street of said city, or
taking up or displacement of any portion Of any
street without such consent of the Boa, of May
or and Aldermen, or to the rules and regulations
that may be prescribed as aforesaid, shall be con.
sidered nuisance, and said company shall be
liable to indictment therefor and TO all the
provisions OF law applicable thereto, and said
company shall, in all cases, be liable to repay to
SAID city all sums OF money that said city may be
Obliged 70 pay in any Judgment recovered against
SAID city for damages occasiOned by any obstruc-
tions, or taking up or displacement of any street
by SAID company Whatever, with or without the
consent OF The said board of mayor and aldermen,
together with the couI sci fees and other expenses
maintained by said city in defending any suit to
recover damages, as aforesaid with interest on
paid TO the use OF said company.
Sec. provides that the work shall be done with
as little obstruction to the streets. as possible;
and that the company be allowed to cross or
change the direction OF private drains without IN
jury to the drains.
Sec. provides for penalties in case the compa-
ny neglects its duty in regard to obstructing the
streets and drains.
Sec. provides that the mayor and aldermen.
for the time being, shall at all times have the
power to regulate. restrict and control the acts
and doings Of said corporation which may in any
manner affect the health, safety or convenience
OF the inhabitants of said city.
Those Western Investment Com
panles.
In the Senate today Senator Freeman in
troduced an important bill entitled: "Ap act
additional to chapter At of the r. s., relating
vestment companies"
Section provides that every corporation
organized under the laws of other States
and doing business In this State, (which has
power to sell and does sell or negotiate its
own chooses in action or sell, guarantee or
negotiate tho chooses in action of other per-
sons or corporations, as investments or as :
business, shall be under the supervision GA
the bank examiner of this State, and be subj
ject in that connection to all the laws re-
latiDg to the examination and report of
banks, savings banks and trust COM
panies." In his annual report the bank ex-
aminer would clearly describe the standing
Of these companies
Section provides that no person shall act
as agent of any of these companies in this
State unless the companies he represents
shall have submitted its affairs to the bank
examiner in such way as to enable him to
make his report.
Section 3provides for a penalty of $1,000
for violation Of the law.
Section provides that the bank examiner
may accept in lieu of an examination the GER
tifcate of any State officer having super
vision OF the companies in their respective
States, provided such statement is accom-
panied by the sworn report of the treasurer
II the company.
The Law OF Libel.
The following bill to change the law of
libel was presented this forenoon in the
House:
Section 1-That In actions for libel there shall
pc no presumption OF either EXPRESS actual or
legal malice from the mere fact of the publication
Of the libel, and the burden of proof on the aues
tion OF malice shall be on the plaintiff
Section Pin actions tor fibel If there is No
proof OF express malice, or the court or Jury shall
ma lnat lnere was no such malice, then no ex-
emplary or punitive damages shall be awarded I.
nor shall any general damages be awarded that
are not strictly actual and real '-'
Section 3-No action for libel shall be brouobt
or maintained unless the plaintiff shall. betore
bringing suit, request the defendant to publish a
retractiOn OF the libel, and allow to the defendant
a reasonable time In which TO publish such retrac
tion, and to make such amends as are reasonable
and possible under the circumstances ~
the case, and proof of the pnb.
licatiou OF any such retractiop or correc.
tion shall be admissible In evidence nnder
the general issue on the question Of the good faith
Of the defendant and ID mitigation and reduction
the plaintiff to comply with the provisions ott
this section may be given in evidence under the
general issue in bar OF the action.
Sec. Alt shall not be lawful for any attorney
al law TO bring or conduct any action OF libel for
a contingent fee, or on any understanding ex.
press or implied that he Is to receive any porton
or all of the damages recovered, as COMPENSATION