The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1890-04-15
DON'T LIKE TIE TAX.
Mr.. Marsh's Bill Brings a
Swarm of Lawyers
to Trenton.
ALL TIE CORPORATIONS KICK
Postponement Of The Ballot Re-
form Fight in
Both Houses.
ALL TIE CORPORATIONS KICK
s,.c,s1 4 d. .Teraev c4tv News.

A4tCfAt 10 ~ 0CIoS9 OtNB
TRENTON, April Is, 1S90.-The Commit
tee on Judiciary gave a hearing yesterday
afternoon on Mr.. Marsh's bill, which was
introduced for the purpose Of increasing
the State revenue. The bill provinces
That each telegraph, telephone, cable
and expfess company shall pay to tne
State aftax at the rate of two per cent
upon the gross mount of its receipts;
each fstreet railway company a TAX
Of bne-half of n per cent
upon the gross amount of its re-
ceipts; each trust, safe deposit or guaran-
teeing compan and each banking COM
pany organized under the laws OF The
State a tax at the rate of one-half OF one
her cent. on the amount OF its deposits;
jeach gas company and electric light COM
4 pany d tax at the rate or two per cent
upon the gross amount OF It's fecelpGs'
each oil or pipe line company u TAX az tne
rate of eight-tenths of II per cent. upon
the gross amount of its receipts; each ~.
suraice company other then life u tax az
the rate of one per cent. upoD the gross
amount Of its premiums; each life lnsur-
auce company incorporated unuef the
LAVE OF the State an annual franchlse Lax
of one per cent. upon the amount OF ils
FHUIDlIA I'll DGGCnlOCA u hORS
the time of such payment; each HE in-
sllrance company not incorporated unuef
the laws of the State, but doing business
therein, an annual tax OIL Two per
cent. on the amount OF premiums
collected during the year ending
December 81 from residents OF this state;
each parIor, palace or sleeping car COM
many a tax at the rate of five per ceutuln
upon the gross amount of its receipts II
any oil or pipe line company has part Of
ills transportation line in this state anu
part thereof in another State or States,
such company shall return q statement OF
it's gross receipts for transportation OF oil
or petroleum over it's whole Line, together
with a statement of the whole length OF
its line and the length of its line i'll this
State; snch company shall pay tax at the
aforesaid rate upon Such proportlOn OF It's
said gross receipts as the length OF It's line
in this State bears to the whole length or
its line; that all other corporations moor
porated under the laws of this state, and
not otherwise provided for, shall pay q
yearly license fee or tax OF o~ne-tenth OF
one per cent. on the amount OF capital
stock authorized for such corporations.
The net does not apply to railway (other
than street railway or a corporations.
or to savings banks or to cemeteries or re-
ligious corporations, or purely charitable
or educational associations, or manufac-
turing or mining companies carrying on
business in this State.
Al large number of lawyers represent
ing trust, electric light and bank
ing companies in he State
appeared and opposed the bill.
Among them were Judge E. A. Arm
strong! Of Camden; John T.. Dryden.
representing the Prudential Life Insur-
ance Company. Of Newark; Bloomfield
j. Miller, representing the Mutual Bene-
fit Life Insurance Company, Of Newark:
II. II. McCarter, representing the Fidelity
Title and Deposit Company, OF Newark,
Al. p. Condict, representing the State
Banking Company, of Newark; ex-
Assemblyman Savage, representing the
Union County Bank, of Railway;
United States Senator Cattel, represent
ing the New jersey Trust and Safe
Deposit Company, of Camden, and also
the State Board of Assessors They all
protested against the bill n claimed
that il It became a law it would work a
hardship to the companies.
Corporation Counsel Edwards and ex-
Judge A. @. Garretson, of Jersey City,
appeared in behalf of the New Jersey
Title Guarantee and Trust Company.
They claimed that the tax would practi-
cally drive the trust companies out of
the business and send out of the State
the none which it was intended to keep
in by the organization Of these com
panies.
Secretary of State Kelsey said that if
the bill became a law it would increase
the revenue of the State by about $1,000.