Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1895-03-28
MAINE LEGISLATURE.
sixTY-sEvENTH SESSION.
SENATE.
Wednesday, March 81, 1895.

Wednesday, March 81, 1895.
Senate called to order by the President.
Prayer by the Rev. Mr.. Sargent of Au-
gusta.
Journal of yesterday read and approved
House document No. 273, an act to re-
lieve the inhabitants of the town OF Cape
Elizabeth from the inequalities of burdens
imposed on them, passed to be engrossed
by the House, indefinitely postponed by
tho Senate, came back from the House.
that branch adbering to its former action
On motion of Mr.. Shaw of Aroostook
the Senate adhered to its action.
House document No. 343, an act to ex-
empt from taxation the property of all
agricultural, horticultural and mechanical
associations, so long as held and used for
exhibition purposes only, passed to be
engrossed by the House, and refused a
passage to be enacted by the Senate, came
back from the House passed to be enacted
by that body.
On motion of MIR. Hume of Washing
ton, the Senate adhered to its action.
Mr. Higgins of York the Senate recon-
sidered the vote whereby it indefinitely
postponed resolve providing for the copy
ing of plans of Maine towns, and ON his
further motion reconsidered the vote
whereby said resolve was passed to be en-
crossed.
Mr.. Higgins then offered Senate amend
ment A which was adopted, and the re-
solve passed to be engrossed as amended.
Resolve on the pay roll of the Senate.
On motion of Mr. Wood of kennebec
this resolve was read twice and passed to
be engrossed under suspension of the
rules.
Resolve on the pay roll of the House,
was read twice and passed to be engrossed
under suspension of the rules.
Committee on banks and banking. to
which was referred order of the Legisla
ture to inquire into the expediency of
passing a general law in relation to loan
and trust companies, reported that the
same be referred to the next Legislature
Mr.. Day of Penobscot: ] wish to say
that this matter came before the commit
tee in the form of an order. 1t is a matter
that several members of our committee
have devoted considerable attention to.
We believe that this would be step in
the right direction, but as it was so near
the close of the session we gave up the in
tention of trying to legislate on the mat
ter this session, but we have taken the
liberty of submitting a general law which
was framed by members of our commit
tee believe that it is a good sound law,
and hope that it will be referred to the
next Legislature.
Mr.. Hume of Washington: The order
was introduced by myself for the reason
that in the various Investigations made by
the committee on this question for loan
and trust companies, and in the hearings
on savings banks and on the incorpora-
ton of new companies a subcommittee
was formed whose duty it was to prepare
n general form for the Incorporation of all
these loan and trust companies. A form
was agreed upon, and all these companies
incorporated this session have been inoor-
porated under this form In these acts
there are some new departures which we
believe are valuable features, and it was
deemed advisable by the committee that
general law should be passed covering
the entire ground, so that all the compan-
les now doing business in the State should
be put upon the same basis. Owing, how
ever, to the late day of the session we
thought it best not to attempt any hasty
legislation at this session, and so referred
it to the next Legislature. ! think that
we have laid the foundation here for a
good. sound general law that will be in
the interests of good banking.
Mr.. Day of Penobscot supplemented the
remarks of Mr.. Hume, and stated that
he had received letters from number of
men active in the management Of these
loan and trust companies strongly COM
mending this proposed law.
The report was adopted.
Same committee submitted their final
report