Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1891-02-25

Tbs 1udte1ery coD@ittee had q mas r.
pofsant sxscutive session Taesisy aft6f-
soon ss which ths Australia haIIos aues-
ton vas vssy earnestly conaidsted. q Z
uadesstood that Two sspefh viu BE- -.
Ths DsjoFisy report viii rive de bin s. :
rev draft having parry tickets In pisallel
columns On De ol1cial halIces. ne epefa-
ton Of the lay 10 70 - naadsassy o. tsvra
Of 1000 inhsbisssts and spvasds ssd 8.
tionaI with tosns Of Lees than III
number Of Inhabitants.
The minority report will, Il l. uods,.
stood, favor the bin ~ originally psesensea
BY Mr.. Cisson.
Legal Ailsiss.
Before the committee on esal aT.i,s
Tuesday, the question Of the seeuisfion al
foreign losn and building associsfions DOING
business 10 Maize.
Mr.. II d. Upton, treasurer Of shs
GfsniA State Providsst sad Aid Assecia-
ton, explained its operation and histogy.
He thought IL would be practical peohj6i-
ton upsn their doing business IN Nsine 10
require them 70 make deposits Of 0zs 900
with the State treasurer He described 4
come length the methods Of the ssssci ssiou
in negosia'ing l,ans.
The Marie manager Of the association.
nov locsted 1t Portland, vas called and
showed that he had placed loans for Il in
the three cities Of Portland, ssco and
Hiddeford TO the amount Of esi 900.
General Charles Hamlin Of Bangor
said that the idea Of loan aad buiidios
sssocistion vas primarily local. He be-
Heved they should be local In character.
having the purpose Of building up The
community through cooperative EFFORT.
He thought that . loan ard building 1850
.iation was cooperative banking associa-
TIA for building purposes. He thousht
III Sperations mum be limited 10 new
san4nss
Hob. II. N. Heath said that this certain
ly vas no. the case under the statute which
Gen. Hamiin himself had drawn. He felt
safe in tsying thst fully 80 per cent
Of the money loaned BY the Augusta
Association was secured by Afss mortgages
Or buildings already constructed. He re.
sarded the question Of where losns should
be placed 10 be purely one Of proper Sc
curi,y. II the operations Of such associs-
tons were TO be confined purely to new
buildings their scope would be very much
limited and they would In time ind diff
Guilty 10 placing their loans excepting Ia
places that were having extraordinary
growth. Under the method Of procedure
followed by the Augusta association Il vas
impossible to supply all the calls for
loans. He thought it could place
ten dollars where /. is now plac.
ing one. He said that 10 had been the
policy of the Augusta Association TO limit
premiums 1t forty cents. He understood
that In other places they vent much higher.
Assistant Postmaster Sanborn Of Portland,
and other gentlemen stated that they had
dealings with the Granite State Association,
and were perfectly Satisfied with Its method
Of doing business.
Pension COMMITTEES.
The pension committee have voted TO
recommend an appropriation Of si25, 900
for the years 1891 and 90 but have reversed
the annual divl,ion 90 that SG5 900 shall be
availxbls in 1891 and $4,000 in 1892
This 10 done in view Of the probability that
in 1892 more will receive aid from the
government under the new pension law.
The committee also voted to recomme nd
an amendmen. u the Law Of 1889 providing
that no soldier should be sent to the poor
house, so that this Law shall not only in
cluis the soldier, but also his wife and
children. They also recommended small
appropriation Of $3.50. to be used as
contingent fund from which the agent may
draw for the purposes Of investigation.