Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1893-03-04

fhe ID H21kl palsESs A1u AnHtx tptS uiAt n -
proposed that they cannot escape disclosing
We prr;rose NOT 10 alisx this sun 10 escape
taxation
Mr.. Woodbury. of Deerins moved thai
the amendment offered to Senate snsen'i-
mens A. lie on the table to be printed and
that Thursisy of mex. week De assigned for
its further consideration
Mr.. White of Roc iani said that he was
xiiIing 10 accept the amendment offered by
the gentleman from Winthrop He wished
to read The following letter from the saw
ings bank examiner
Sr.fk OF MAIss.
DsFHek OF BANK Examiner.
Augusta. March 3, iSas.
W. S. WHIrg, Esq. Member House of
Representative
Dear Sir-In answer to your inquiry as
to the amount thai wouIi be realized by the
State under the pending amendment to
Senate document No IL and the proposed
amendments retaining in the Stale treasury
an amount equal To the State tax that wonl
have been assessed otherwise by the mnnic-
ipalities on the stock of trast companies,
AMI the amendment providing that greater
sum should not he credited TO the town
than its proportion received from the com
pany on account of whose stock il would be
entitled TO credit. have TO say that have
examined the last statements of the trust
companies and made computation based
upoa the proposed law With the following
result
The total amour, of capital stock of cur
trust companies is 81 ,o69 800.
Tile time deposits are Sl,ia3.ic2. The
demand deposits amount to 81 ,o13,4s5.
The law does not nov require the trust
companies 10 return the amount of their in
terest bearing deposits, but learn from
reliable sources that quite a large proper
ton of the demand deposits are interes,
bearing.
therefore estimate that of the 81 ,0.9..
40 demand deposits, at least 1878, i66 are
interest bearing. which would make The
total interest hearing deposits 81, lG6, $40.
Add to this amount the capital stock, viz
81 ,06o 500 and we have So ,2256 $40 as the
aggregate amount subject to tax.
Three-fourths of per cent on this would
give the State s2i PAST.
| tind by taking this basis as applied to
the several trust companies that the amount
which would be actually discussed 10 tht
cities and towns, keeping in the treasury
the States proportion of the tax in case OF
municipalities that would receive the full
credit, would be Sl+,22l.
This deducted from S24,274 leaves in the
treasury slo,054.
further find by the returns of our saw
ings banks under date of Oct. 3lst, 1882
that little more than Sl0o, 900 of the stock
of our trust companies is held by them AM
assume there would be no credit given tn.
towns on this amount. Now to the $40.
054 add $1,000 on account Of trust compan,
stock held by our savings banks, and W,
have SI2 ,054 as the amount remaining il
the State treasury.
Respectfully,
CHARLES r. WulrrEN.
After some further discussion by Messrs
Powers of lloul,on. Cover of Winthrop
and Roberts of Norway.
The question being on the motion of Mr.
Woodbury. that the bill and amendments
lie 90 the table and that Thursday of next
week be assigned for its further considera
ton. a division was called for and the
motion was lost by vote of 40 to 46.
The question then being on the amend
ment offered by MIR. White of Rockland
the amendment.
Mr.. Roberts of Norway rise to point
of order that you cannot amend an amend
ment of that kind.
The Speaker. The Chair thinks tbs
point of order is well taken.
The question being on the adoption oil
| the amendment of Mr.. White of Rockland
the amendment was lost.
The question being on the adoption oil
the amendment of Mr. Cover of Winthrop
the amendment was lost.
The question being on concurring with
the Senate in the adoption of Senate docu
ment 50, it was non-concurred in.
| Mr.. Roberts of Norway moved that til,
| bill lie on the table and that Thursday nj
next week be assigned for lis further con
sileration.
| Mr.. White of Rockland moved that tn,
/ bin be indefinitely postponed.
| The Speaker The motion to lie on IT.,
table takes precedence.
| The question being on the motion to Ii,
on the table, division was called for anf
! the motion was carried by vote of Il
! to Is.
| On motion of Mr.. Marston of Skow.
! hogan the vote was reconsiiered whereof,
| the House passed 10 be enacted the bill t.
incorporate the Piscataquis River and Sc
| bois Stream Dam Co.. and on further mo
| ton the vote was reconsi1ered whereby tbs
| bill was passed TO be enerossed, and nf
| further motion the bill was laid on thu
| table.
On motion of Mr.. Sprague of Monsoon
| Senate document - in regard to chapyiee
the official title of the deputy commissions
of labor was taken from the table
The question being on the adoption o.
the amendment, which is House documen
No. ia,
Mr.. White of Rockland moved that ths
matter he laid on the table, and division
hcing called for the motion was lost by
vote of 30 to So.
On motion of Mr.. Bird of Portland. tb,
vote was recousiaered whereby the House
refused to lay the bill on the table
The question being on the motion to liz
on the table ami to assign Thursday of mex
week, it was agreed to.
On motion of Mr.. Maddocks of Booth
bay Harbor, Senate docnmen. IL was taken
from the table and Thursday of next week
assigned for its further consideration. Als1
House document III. was taken from thu
table and Thursday next assigned.
On motion of Mr.. Bird of Portland
House document IS in regard to BLOOMFIELD
Academy, was taken from the table and
assigned for Tuesday of next week.
GA motion of Mr.. Bradbury Of Dexter
the vote was rpconsidered whereby the
House accepted the report of the committee
on State lands and State roads in regard I,
settlers lots in Wslagrsss plantation, anil
- tai
sane committee.
On motion of Mr.. Chamberlain of Bristol
the act relating to the education of the deaf
dumb and blind was taken from the table
House amendment 4 was then adopted and
the bill passed. TO he engrossed ~ amen le,l.
On motion of Mr.. Weeks Of Fairfield thu
bids submitted to the committee On printing
and binding were Ordered printed.
On motion of Mr.. Eird of Portland the
resolve in favor of the Calais Academy was
taken from the table and assigned for
Tuesday of next week.
Mr.. Shaw of Portland moved the adop-
ton of the following resolutions:
Whereas, This House is Informed of the
heath of W. H. Libby, a member of this
body from Standish. which occurred at his
home on "Wednesday, March ist, be it
Resolved. That we deeply lament his
less AMI that as a token of respect TO his
memory his seat be dranei and that com
nnttee of FIVE be appointed TO attend the
funeral services Of our late associate. and
that AZ Il further mark of esteem this Hou.e
do now aajanrn until Mondsy at 50 Z. II.
The resolution was unanimously adopted
The Chair appointed az \ committee on
the part of the House TO attend the funcys!
serFires Messrs. Bracket, Wescott. Clmrc!,
hill, Boothby and Smith of Portland
Adjourned.