The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1890-09-24
THEY TAKE IT ALL BACK.
The Board Of Trade Endorsement Of
the Bankruptcy Bill
Rescinded.
Col Sullivan on Men Who Will
Not Improve Their
Property.
1 Railroad President Who Does Not Think
There is Much Temptation to
Extend.

There Is Much Temptation to
Extend.
The Board of Trade was in session but an
lour and half last night, but it managed
o get through a great deal of business and
lad time to listen to several interesting
peeches. Vice-President r. G. Wallace
presided, and Major II. c. Walker was Sec
etary. The committee appointed to con-
ider the Torrey bankruptcy bill reported
through ]. A. Walsh that they believed it
contained Objectionable features which
you'd be detrimental to the business inter-
ATS of the country. They recommended
hat the resolution instructing the Montana
mem in congress to vote for the bill be re-
cinded. In explanation Of the objections
the bill, Mr.. Walsh said that by one Of
ts features the small business man who
vas somewhat in debt, but who might con-
inue and come out all right, would be put
want to ruin him by forcing him
nto involuntary bankruptcy. A mans
IN attempt to evade his creditors, while
lis suspension of payment for minute
,ver thirty days would make him an invol-
ntary bankrupt. Another objection was
hat the bill would allow man to become
|. voluntary bankrupt only when he owed
i'ver $500. The committee thought that
nan who owed $500 should have The the same
'rivileges as one who owed 5000. The
1perience of the country under the last
bankrupt law did not make the outlook IA
t'orable for this bill. He understood that it
had been amended, but he did not know in
chat particular. It could be amended so
IS to remove the objectionable features.
The report was adopted and the secretary
n congress of the action of the board.
] Barnard Brown, w. E. Cox and G. w.
jannon, the committee appointed to invest
gate the matter of assessment for taxation
n Lewis and Clark county for the current
ear, reported as the result of their inquiry
hat, eve believe the general assessment
n real estate to be excessive and far be-
fond the amount that could readily be re-
liked thereon. The method of assessment
sppears to have attached solely to the gath
ring of tax upon realty, regardless of i'm
,rovements, and in view of the fact that
he aggregate assessment is over 100 per
emit greater than ono year ago, we re-
ng upon boards of equalization a general
eduction in the assessments of Is to 30 per
ent.''
f A motion to adopt this report was about
be put. when Col. JAS. Sullivan got up
nd asked to see the paper. After examinin-
ng it closely he announced that he object
d to that part of the paragraph which read:
The method Of assessment appears to
ave attached solely to the gathering of tax
pom realty, regardless of improvements"
ie said that while he was in favor of a
T eduction as whole he would not vote for
+ report with that sentiment in it. Right
Main street, he said, there we're two or
heels of progress of the city by
Gliding property which they would
either sell nor improve. He believed
nat the assessment was too high. It might
% reduced % or 30, or even 40 per cent. At
resent the assessment was as high as the
ropertZ would bring at public Or private
ale. There might come time of depres-
ion when it would be necessary to move
lowly. If the assessors had to make a re-
uction next year it would speak very badly
Or the county. He did not think 1t was
ae fault Of the assessors. They had worked
ard. But he thought the assessment should
raised more gradually. But if there was
My on the real estate, but on the improve
lents. Col. Sullivan moved to strike out
ae Objectionable paragraph, and as the
ommittee were willing. this was done. The
sport as amended was then adopted. The
ounty commissioners, sitting as board of
qualization, will be given copy OF the re-
ort to-day.
A letter from G. E. Perkins, president Of
he Burlington & Missouri River railroad
4 Nebraska, on the subject of building its
ne via Castle and Helena, was read. It
as dated Sept. II, aud addressed to A. J.
davidson, John Stedman and Robert C,
Walker, the committee who sent the letter
~ ho c,,HS tn Go,k -.
Gentlemen-I have this day received your
communication of Sept. 9th, which have
BAD with much interest, and which will be
lid before our board. Our engineers have
lade some explorations west of the Black
ne towards Sheridan. Whether We shall
omplete it or ever 60 beyond there has not
cen determined, and will necessarily de-
end upon many circumstances. If rail-
Dads, after boing built by private enter
rise, could be managed upon business
-rinciples, as property, we should probably
sel more like extending than we do now.
ut, under laws based on the idea that man
no invests his money in 9 railroad, and
no necessarily takes the risk of losing it
holly or in part, if the enterprise is not
success, should not have anything more
ian bare interest upon the investment if
is a success, there is little temptation to
nbark in such undertakings, and the ten
ENJOY at present among conservative hold
3 of railroad stock 10 to put their money
Ito somethlng else more subject to that
,ntrol which is the essence of owner
lip," like lands, or mines, or lots in your
ty, for example. I thank you for your
tier and for the Information which 1t con-
inns, and promise you that the matter
lall have the consideration which its i'm
,rtence demands. G. r. PICKING.
Bernard Brown. G. w. Cannon and VIM.
nth were appointed q COMMITTEES to wait
oon Col. Broadwater in behalf of the
GARD of Trade and ascertain whether. If
Efficient guarantee fund was raised to pro-
de against all loss, he would not consent
!, have the Hotel Broadwater run during |
ie winter or lease it to q committee for
,iat purpose. The preamble to the resolu-
ON which called for the appointment of |
70 committee set forth that the Broad
ater had been the means Of attracting
wrists and business mon to Helena, and |
lat it would be to the interest of the city |
have the hotel open during the winter. |
was urged that Col. Broadwater had al \
lady said that he would not keep the hotel |
zen, and that if committee were ap-l
,lnted to make any such proposition he |
light be offended at what would look like |
offer Of charity. On the other hand it |
as claimed that such an expression ON the |
art of the board you'd be vary gratifying |
Col. Broadwater, a. showing that the |
,ople appreciated his efforts. Major |
ralker also stated that four men had |
ready signed an agreement TO give s., 600
the proposed $4,000 guarantee fund
THE MOTOR LINE TROUBLES.