Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1895-03-29

have arisen at the GATE OF the approvai OF
this act. lApproveo March zl.l
Chapter 100.
AN ACT to amend chapter two hundred and
ffty-eight of the Public Laws of eighteen
hundred and ninety-three, relating to the
Taxation of Savings Banks.
and fifty-eight of the public laws OF eighteen
hundred and ninety-three, is hereby amended
Words w second Mondays" and inserting the
words first Saturdays so that said section as
amended shall read as follows:
savings and trust and loan association incor-
porated under the laws of the state, shall,
semi-annually, on the last Saturdays OF April
and October, make return, signed and sworn
to by its treasurer, of the average amount of
its deposits, reserve fund and undivided
profits for the six months proceeding each OF
said days, together with a statement IN detail OF
its assets, loans and Investments and its de-
posits within and without the state, IN separate
columns, with aggregates SO arranged as 70
clearly show whether the purchase or acquisl-
ton Of each item in such detailed statement
was prior or subsequent to January nrst,
eighteen hundred and ninety-three. All assets,
quired from the proceeds OF assets, loans or
Investments held on said January nrst ana
thereafter renewed, sold or PAID shali De
entered in said statement as acquired suDse,
auent to said January first. Said return shall
be made to the bank examiner ON rbefore the
first Saturdays of May and November anu
within thirty days thereafter, he shall nix and
determine the market values of the invest
ments aforesaid and transmit the same Win
such values SO determined, TO the sta1e ASSES
sOrs for the assessment requHeo Wy eeo'ioA
SECT. Q. Section two of said chapter two
hundred and fifty-eig Is hereby AMENDED o5 ~
fourth Monday in May and inserting tne
the words fifteenth day Of June, also by strlk-
ing out in the twenty seventh line tine WORDS
Fourth Monday in November and inserting
the words fifteenth day OF December, 30 tna ,
said section, as amended, shall read as 1oi-
seer. 9. The state assessors shall thereupon
determine the values of the several franchises
Of the said banks, institutions and ASSOCIATIONS
according to the following rule; from the
average amount of deposits, reserve fund and
undivided profits so returned by each Dank,
institution or association there snail IN eaSI
case be- deducted an amount equal TO the
amount of United States bonds, the shares OF
corporation stocks such as are by law OF this
state free from taxation TO the stockmoiaef rs,
the bank, Institution or association, and also an
amount equal to one-seventh OF such otner
assets. loans and AZ py su nrior
to January first, eighteen hundred and ninety
three and also an amount equal to two-sevenths
by sneh statement appear to DO loans to per
sons resident or corporations located anu ao a
business in this state nvesa M Nav IN pa,nn
shire, securities of this state, public or priva.e
bonds issued or guaranteed py corpofAtons
located and doing business IA tnAs seoso, 500.
aiiv made. purchased or acquired since said
January rst and also an amount equal 70 'w NO.
seyentks of the cash on hand ana casn uer
posited within the state. Upon the value OF
each Of said franchises so ascertained the state
assessors shall assess an annual tax OF seven
i eiehts OF one per cent, one-half or SAID tax TO
he assessed on or before the fifteenth day or
June and one half on or before the nfteenth day
0fDeceinber. The state assessors shall thereup.
ON certify said assessments to the treasurer OF
state, who shall forthwith notify the several
banks, institutions and associations Interested
Seer. 5. Section three of said chapter two
hundred and ffty-eight is hereby amended by
striking out in the second line the words, "hrst
Mondays in June and December, and insert
Ing the words fifteenth days of June and De.
cember,' SO that said section, as amended, shall
read as follows: -,
SECT 3. All taxes so assessed shall be pai9
semi-annually within ten days after the nj.
teenth days Of June and December One-halI
of the sum so paid shall be appropriated Tor
schools. in the manner provided for tax on
banks of circulation in section one hundred
and seventeen of chapter eleven OF the reViseo
statutes, and one-half to the state
[Approyed March Il