The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1893-02-23
BOVINE SPOoKS.


dersigned citizens. Taxpayers of --
and vicinity, considering the great bene-
fits of savings banks to the communities
in which they are located, respectfully
protest against all legislation which tends
to weaken them or shake the confidence
of the public in their safety and ability
to pay dividends to the extent of 4 per
cent per annum, and especially against
any form Of taxation which discriminates
in favor of OF against any class of securi-
ties in which savings banks may by
law invest" Such remonstranees
came today from Norway and Gardiner.
Savings Bank Investments.
The committee on banks and banking
will report bill in relation to the invest
ments of Maine savings banks. Some
time ago bill was reported authorizing
the banks to invest in the water bonds of
New Hampshire towns. An amend
mei,t was offered to this bill to extend
its provisions to cover ali New England,
and with this amendment the bill was
sent back to the committee. The COM
mittee will adhere to their original posi-
ton limiting the operation of the bill to
New Hampshire. Another provision
which will be Incorporated in the same
measure is designed to better define the
intent of the existing law as to municipal
securities in other states in which the
banks may invest. The law DOW says
that they may taks the securities of
cities of over 10, 900 population having
debt of less than 5 per cent OF their valu-
alton. The new law will prescribe that
the population of cities shall be held to
be that given by the official census. In
regard to municipal Indebtedness, the
law will be SO framed as to in
clude all the indebtedness of city and
not that only which may be denominated
as such. For instance, in Indiana the
constitution prevents any city from con-
tracing an Indebtedness of more than
two per cent of it's valuation, but the in
genious Hoosiers got around that by in
cooperating special school districts to
include whole cities and have the right
to issue bonds. Boards of street i'm
provement are formed in the same way.
It has been the custom of Maine banks
to include these varions debts in the .nu-
nieipal indebtedness of Indiana cities.
Now it is proposed to have the law so
amended that this method of learning
the financial standing of western cities
shall be obligatory upon the banks.
Raising Railroad Taxes.
Another bill reported by the special
committee on taxation has passed to be
enacted in both branches. This is the
bill increasing the tax upon railroads.
That big lobby which some people
thought would be here to fight the meas
nre did not materialize. The LIMERICK
road of Roekland was at first disposed
to object to the bill as applying to itself,
but the objection did not appear in the
form of an amendment or in an attempt
to stop the. bill. The measure will in
crease the yearly revenue Of the state
from this source about $4,000, accord
ing to the committees estimate.
Yarmouth's Road.
When the bill to incorporate the Port
land and Yarmouth electric road came
up In the Senate today it found amend
ments waiting for it. Mr.. Seiders Of
fered two, one to define Tukey's bridge
as a structure over navigable waters
and the other to strike out in section 10
the provision that the road may lease all
It's property and franchises upon such
terms as it may determine. The Senate
adopted the amendments, concurred in
those adopted by the House and then
passed the bill tosbe engrossed. The bill
now goes to the House for action on the
Senate amendments.
miscellaneous.
"Reminiscences from Abbott and Mon
son against the repeal of the so-called
conspiracy act have been presented.
The bill relating to the Freeport Wa
ter Company passed to be enacted today.
as did the bill to prevent cruelty to ami
mails.
Senator Wiggin presented today his
new bill for raising the school tax. In
stead Of raising the whole by direct tax
alton by the state, as his former bill pro-
vided, this bill provides that the per cap
tia tax raised by towns be reduced from
80 to 45 cents per inhabitant, and that
the entire fund raised be equal to the
present. The bill provides for an in
crease of the mill tax from one mill to
one and three-quarters mills. This bill
was referred to the committee on educa-
ton.
The committee on agriculture report
in favor OF appropriating ran extra $1,000
to the Maine State Fair Association for
an industrial exhibit.
Senator Grindle presented a bill today
pTOVluluS tlaD any person between the
5 and 81 years, living at any light station
not embraced within the limits of any
school district, shall be admitted to any
public school in the state without pay
ment Of tuition.
Evenly Divided on Oakdale.
The committee on towns are now even
ly divided on the Oakdale case, five fav- |
oring annexation to Portland and five
opposing it. The committee will take a
formal vote tomorrow evening. OF
course it is possible that some change
mgy occur before then in the standing of
the committee.
To Light the Insane Hospital by Elec-
tricity.
Senator Grindle will introduce tomor-
row resolve which declares, whereas
the recent fire at the insane hospital was
caused by an inmate lighting paper at a |
gas jet, and whereas several fires have
heen caused in the same wav or nv the