Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1890-09-12

eco Esft4fE-s 4fAt WILLIE III r4-tt y ~ Il
sueh nx iss, e1a3iae- Al isHgia TIE
eo1snsE'i0szl sbjses ons tots tess hsv-. 10
she several scases, ketn raised arc E,iei i
by the eourts srf eeB=!alss shst, a,
priviie9e tax. there eaz be 10 val 4 caarI- /
ta1ioEsI grozni gp0a which & can Be a. /
ssekei.
sAyISGs BA~ks-
The trososed lsw subl -ets the &C ANA /
lat evs4- vel as tie fsp SIS cf savings
BANKS 70 taxation b. the S'sta Ths-e az
es,nu'&.sons noS saoan. % several nlil ion
Dollars Ass me4-a-s for fhe enes ,ss'-
men, of home iaTes:mants b saTlnss banks
2iesfenee "a ttxes e enc hEif Of c.e Pr
e4ur Is rr posed IN favor % such iEref-
nsu;s. Th.s should msst with seae-ai f.
yor. The rep IT says coaeernirg ths TAX
irg Of az gnui2aors
Tbs llrge sum : NO, ielea a, al
f9nl fasssi3a 5y sac county o. t)s1.
"a. Il I'll. in.entis q II the lsxisl tars 'tat
{ should pxv NJ taxes: The legislature
Ia net 80 srpr .sei self u asg lax. !;
oulY b. replication again taat such e1-
np.icn can r. elaimfi sni the imp'lea-
ion. even. .cefn- % Us soIneWhst srsined-
n Nov Hampshire AMI verno5E the sIstu-
tory pfovi.ioas are explicit ani extent q
AZ 10 deposits and sccgmalfiioas. l. ~
The policy OF the several Sta'es TO foster,
Il hin reasonable hmts all ins'itutions or
ayngs Theg teach thrift ssd economy,
na,efia IL adj - the prosperity Of t1s
community. AMI in a confitcrsbls degree
prevent want and distress. Vain has
-scogn zed the benefit OF her savings banks
n gEess respect, and th- people have
earned TO r,ly upon their ccn'erv-
ltFe wise anil reliable Inarag~-
meat a. absolutely safe places for their
earning. Safety, indeed is the hrst aaa
main object OF their creation Large
tiviisrl, from such inssitu'i,1s are no.
for the best interest of the Sac The
L.-gis 'ature HIS wisely limited them to not
-1ceelng i've per ceet- per annum
several ssEi0gs banks paid cp t. the limit
est year the average fer all the backs
being ur and BALI per C. ns- With div
isrd, ABOVE per cent. per annlm, capital
. attracted toward these ban<s, and. al
thou h the statutory dni: for depositcr
IL S2l0 there are many ways n which
the iaS is cyaied. We think, therefore.
that, vi hyns Gripping these excelien IT,
-iituti0I or in the leqs' Impiirlrg heir
-0undr esq, the State tx SHOULD be extend
I'd 10 their accumllanons. We make no
accommodations as TO the taxation OF
stocks held by these banks n. invest
rnent. but woul certsialy recommend
that II tie m Hons of sceumu.stons are
no. 10 be taxed that tie national bank and
Thor stccks purchased by these accamula
ilrs AMI which. but fir ftelr osnership b.
hs savings hanks. would be- taxable by fbc
,eveIAl towns where ov ne !, ard thus bear
a share of the burden, shsuld be tax d
b. tar the larger part of the investments
II the fped- OF these 6aaks in the sgfre
gate. ara made out of the S!sts. Suc1
iosns Yield larger rate OF interest than
h me inv, stmenis. AS measure for tht
n ;oura cement of home lDaus and invett-
nents the bin makes the tax one half Of
n per cent. 90 so much of the fards IS
tts iuve,tsd in Na.ne and one per cen. on
he an cunt invt sted out Of the - -
The proposed law exacis a more adequate
reveHul from
CoRroRArE FRAScnIsE AND ORGASIzA
and III report will nee. with general sp
proveI of the people, if not Of the corpora
iicns, in what it saws On this subject:
There is nc St4e, We bel eve, Who
avs ati5'd ereIter facilities for the organ
zuion If COZ p .at0ns than DO ours. By
gcGerti las, IN III : 'SRie, three or more
ersons NAV form a corporatisn to csrfv
II any Ia full bu~iGess with cafi al stock
t. lie amount OF two millions OF Gol'ars-
excepting only bank g, Insurance, depo-it,
lngrsph and taleIhJGe complnits, No
sch. M - so visionary, provided Us pur
aOsA IL, ,sisn.ibly, LAWFUL business that
= mn, not b come vested, by virtue Of our
lava. WITH org, IL a p1wprs AMI. in q
ne quppcr.td and iador,el thereby. |
l. un!y ueCesaAry n organza, FIX tn
ia,oun' If capital a.ock which til, company
nay sol. record certificate of Organization
a i receive tie spqrovai Of the attDrn y
Z nefsi NJ money is REQUIRED to be psi
IN. TIE sharea of st,ek 60 ,s.i,gte the
oasis OF hus0ess and the merchandi se lu
So d ch the cnrporst oaisto deal Tn State
as there fore become the favo7ite orgariz-
~ ground of corporations hy spectators
fr,m other Sltaes and il is rot Il common
hit at least u dozen OF them, representing
.lllons of s'ock. ara born in q day. For
h six months n led July L. corporations
ri't m aggregate of more than S93 900
coo. were organized IN ,h's Sia,e. Wh,lc
oar laws aff1rI such unsu,l facilities for
81 j ilce pt,on of such corporations they are
rgllariy deficient il p'oyisions fer
deriving any a1equlte revenue f.om them.
tnrT0-s'iins formed for manufacturing
d mining for ba king, for transport
'H. telegraph sni telephone 5usiuess.
i fast al legitimate corporations which
glxp in bus;ns, resutins in public
w,aflre snl oaniag properly are subj 'ct
~ 'axl,ioA. Snch corporations geneallry
consists of ciizsns Of the State, bur often
Of citizers of other States who seek invest
-, n here. Ine C3rpora'ions which are
net taxed are the h-nircis formed for
plrelv speculative pup SIS. AMI may or
may not have legitimate hesls OF opa,a
u''I, or a place of bu-iness in this STATE
c'h r than nominal. Other States derive
ualiv. h,ei 'es a la-ge amount from oryan-
cation : enrolment fees In y. snsyl.
,.,'ra,r,,..,as ~. th, e...,s 80 Nv
- ~ -, ~. -. a.
s-.r,. IS ,,.a d, "."'i" y. eisH osI'''
-. !. s''' - W ~ i,''rs Hl'n
~, 90 - ~. 'aH 10 uoauieu- oo'po-
az - - - NH on qb-
-, =, 49, ~ ~ ~ Ns" "t'-
~, - 49,, W 'De' u oue l'f
~ $3.50 - e"p''"' VI eu'poraNons
80 ~, ,,aa. ,i,a So. ai,, sno'
80 -. V s s',T 90 ttan@tu rom
~, '''i ~ .ntousn tii'
81 az 20 ~ "a 90 i"n ~ 'nt
- -: 'eNF,,eu nun rauros' anu
80 BUSINESS 90, Po'a'i M II h unhec-
g''aly " cue we INV vs. ol me several States
pou ms SueIeo'. ine spo'e are enough
" 'no" Plecen."ts lor ts1'ng me capita
~ pai' VI car polaIous al" LOT char-
'erS VI orgali]auons' we nave included
~ eur %" p'o'is ohs 20 cover oHta forms
% s'1Auoh' snd "ith me confident belief
US II we II" d'es not result IN ma'eti1i