The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1891-02-28
Some of the pays RusIneaa.

lection to this as to the preyicus amend
ment. The amendment was lost and the
bill then passed.
Some of the Days Business.
Mr. Savage of Auburn, presented today a
bill to amend section 1S, chapter 48, r. S.
relating to corporations. The bill fixes fees
for the organization Of corporations under
the general law as follows: To the attorney
general and secretary of state, So each for
thes services; and in addition, when the
capital stock is less than $4,000 then shall
be paid into the state treasury $40; when
the apital stock is $4,000 or over and less
than 100000, $50; when the capital stock Is
$780, 600 or oyer and less than $500 600 800:
and when the amount is 100000 or more,
$500.
When the fortnightly payment bill came
into the Senate today Mr.. Ham Of Lisbon,
who signed the the minority report in favor
OF the bill, moved that 1t be laid on the table
and assigned for Tuesday next. Several
| members thought this needless waste of
time: Mr.. Chadbourne believed that il the
gentleman wanted the bill assigned such ac-
ton should be taken with 1t. Mr.. Porter of
Bangor said that he never knew a case
where the House refused this courtesy to
member signing minority report. The
House voted to assign the bill In accordance
| with Mr.. Hams motion.
| The judiciary committee has granted leave
to withdraw to the petitioners for the aboli-
| ti0n OF the Dexter municipal court.
Mr.. Tilton of Cape Elizabeth, thinks town
| treasurers should be paid for their arduOus
1 duties under the crow bill law. Mr.. Tilton
| presented a bill today providing that town
| treasury, 20 per cent OF the crow bounties
| paid.
A bill was introduced In the House today
| for the repeal of the celebrated Maine tramp
| law.
In Committee of the Whole.
The Senate this morning went into COM
mittee of the whole. proceeding not often
adopted in the Maine Legislature. Senator
Spear was In the chair and the committee
proceeded to take up the momentous Ques-
tion of the protection of fish inCathance lake
on which the committee had voted legisla-
tion inexpedient. The matter was discussed
the committee dissolved and Seaat0r Haines
reported Its dOings to the Senate. The out
come of this parliamentary depression was
that the bill was passed by yea and nay
vote of 20 to l, Senator Nash voting in the
negative.
Before tho Judiciary Committee.
The judiciary committee this afternoon
gave heariug on the order presented by
Mr.. Payson of Portland, directing it to in
quire into the expediency af legislation as to
the sale Of stock of certain quasi public cor
poratioDs. This order, as mas been stated,
was introduced with the purpose of ascer-
tanning whether or not legislation was de-
siraDle In the matter of the increase of
stock of the Boston & Maine railroad, to au-
thoriZo which bill is now before the legis-
lature. Hon. William L. Putnam of Port
land. representing the Boston Il Maine, was
the first speaker. Mr.. Putnam maintained
that general legislation of the sort indicated
by the order would be unjust to stock holders
In corpola atiOns where there had been for
many years no adequate return on the invest
ment He took as an illustration the
Maine Steamship Company. That company
for long time had not fiourished. When at
last Its stock became worth more than par.
Mr.. Putnam claimed that the holders, who
had received no return on their investment
Tor many years, were entitled to receive new
stock issued for legitimate purposes at par,
the premium on the stock representing a
profit to which they were Justly entitled. In
the case OF the Boston 81 Maine, Mr. Put
nam thought that similar injustice to the
stockholders would be done If they were de-
priyed OF an opportunity to take the new
stock at par. He said that the premium on
the stock was part OF the profits Ito which
the stockholders were entitled by the terms
OF their charter. 10 reply to ques-
tions by, Mr.. Walton, Mr.. Put
nom said that it was time that
the road could raise money needed for i'm
provements by issuing bonds at less cost for
interest than it would pay in dividends on
the new stock, but he pointed TO the fact
that 1t had been the policy Of the road to
carry small debt on large capitalization
rather than to encounter the dangers of
heavy debt. This plan was the one adopted
by other roads which like the Boston and
Maine were prosperous and had reduced the
cost of passenger and freight service to a
minimum. Mr.. Putnam spoke OF the p0ssi-
BILE danger to the best interests Of the road
If 1t was forced to go into the open market to
sell stock. Nobody could tell what would
be the result OF such forced SALE Ii, how
ever, this course was left optional. 1t was
probable that much of the new stock would
be sold this week. In answer to Mr.. Payson
Mr.. Putnam admitted that statement in the
explanatiye accompanying the bill author
lZng the cOntemplative issue might lead 10
an inference that the stock was TO be sold at
market rates. The statements, however,
were not made for that purpose. They
weresdesigned by showing the needs OF the
road to put an end to the story that the Bos-
ton and Maine wanted to increase its stock
to get money to buy the Atlantic and ST.
Lawrence road.
Geo. C. Yeaton, Esq also representing the
Boston and Maine, followed. Mr.. Putnam
and Attorney General Littlefield spoke in
opposition to the order 10 behalf Of the Knox
and Lincoln.
orher Committee Business.
The railroad committee has voted ought to
pass on bills Incorporating the Casco Tele-
graph and Telephons Company, Rockland,
Thomaston and Camden railroad, Lewiston,
Augusta and Camden railroad, Sunderland
Telephone Company; also on the bills In ala
OF the Bangor and ArOo took and to CONSOLE
date the Sandy River and Phillips and Range
ley. The bill to extend the charter OF the
Cape Elizabeth Shore Line will be favorably
reported in new draft The right to lay
tracks IN Portland is struck out. The com
| pany is given the privilege of extending It's
line from knightville TO Cash's Corner. Hon.
VIM. Atkinson explained to the committee
| this afternoon his scheme to make Wiscasset
| great seaport by building the Carratassett
and Canadian line He wanted an appr0pri-
alton OF $65OO for preliminary survey. Tne
committee will make an adverse report.
The committee on public buildings has ap-
| pointed Senator Mallet a subcommittee to
| see what can be done In the matter OF the
| defective lighting in the State House. The
| officials OF the electric light company say
| that so much electricity leaks away owing to
| defects or breaks In the wiring that they can
not give proper service.
| Inc committee on state printing awarded
the contract to Smith & Reid, today. Tney
wi, award the printing contract TO Burleign
=. Articles of incorporation of the Belfast
| street hallway have been nled with the RAIL
| way commissioners.
| Members of the valuation commission now
expect to report by about thursday OF next
week.
In response to the call for an itemized ac-
count of expenditures for the militia, the ad-
| jutant general will send to the Legislature
next week manuscript document Of ne arly
| 200 pages.
Maine Veterans Dine In Boston.
BosToN, February 27-The tenth annual