The Portland daily press., 1893-03-18
control of the stock he made the mat

OOAASA VI ~ 1AN N'AtsNNO
ter public.
He said that when he signed the con-
tract with Mr.. Wescott he believed he
had done the supremest service to his
city that he could do-"and | believe so
now' He meant to have it taken wholly
out of municipal politics. He said that
the minority stockholders with the city
of Auburn owning the controlling inter-
esting could not hold their stock with the
dividends that the city would permit the
water works to earn. He had provided
in his arrangement for tine city purchas-
ing this outstanding stock. But the
newspapers come out with tiaring head
lines. Partnership, "deaf' mystery"
and the people become disturbed.
MI. Savage's proposition was that any
tain two essential features. First, he
could not give his consent to any act that
did not protect the rights of the Auburn
Aqueduct Company, that had become
forfeited by an act in which he himself
was concerned. Secondly, he would
not be party to any legislation that
might deprive the city of Auburn of its
rights under the charter of 1891. He
thought the bill presented by the Julici-
ary committee was good one, and he
believed that under it the city would
purchase the water works, that the pro-
visions of the bill provide better facili-
ties for the purchase of the works than
were provided for in the old charter.
On taking his seat, Speakers Savage was
generously applauded.
Mr.. Spillane of Lewiston spoke against
the bill. He thought Judge Savage had
done the best he could and acted honor
ably. But this bill did not put the city
o,11 +I,1n %hor
tions they occupied under the old char
ter. He could not for his part tell just
what the new bill meant There should
have been a public hearing on this bill.
He thought there was litigation in every
sentence of the BILL
Mr.. Llewellyn Powers, for the commit
tee, explained the purpose of the COM
mittee in drafting the bill. Any amend
ment that would better effect the pur-
poses of the bill he was willing to accept.
Then Mr.. Penley of Auburn proposed
three amendments. The .effect of one
was to put the parties back to the condi-
tions prior to December 10th: another
amendment provided for the giving of
time notes by the city.
Mr.. Powers said that if the city's debt
limit was nearly reached, as he under
stood it was, the legislature hadn't au-
thority to permit this. The amendment
was defeated.
Another amendment was that the rates
should not exceed those in Lewiston. %
The bill then passed to be engrossed
without any amendment of Importance.
Savings Bank Statistics.
AS bearing on the savings bank bill the
following furnished by bank officers is
interesting:
Whole number of banks ........ 90
Total amount of deposits. ..... :s53, ,397, ,94e.15
year .................... 3,119.49671
State tax of 1S92.............. 36S, 1913. SO
State tax of 1891 1.............,. 347, ,56S.41
Increase for the year. -. ;. -. 21,06995
Investments in State of Maine or
cash s on hand. approximately. 2e,ooo, 100000
In outside securities, exclusive
imateiy .' ' '........ - 2s,ooo,ooooo
Total number of depositors in 53
Average OF deposit0rs' accounts $343.76
counts are under SOL .....:.. 12o.oe1
Being 771s per cent of all depositors
under sol. .........,..... 7s.s42
same ii banks ......., ......... 1856
frsas1IS banks Under s3o1..... = . .... 5$1e-l7s
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