Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-03-24

pfoperty and diminish the tax on any
1ne particular case Of inX ks ., , rn ~
points Is Which will call attention. Saw
luSs banks pay no municipal taxation.
except upon their real cstate--they, with
are exempt from tatali5fs The savings
banks and eWhers of money in the saw
ings hhhks are today taxed only from
one.half to one-third the amount which
owners of other property thropgheut the
State are taxed for municipal taxation.
They ask that this rate OF taxation be
It "a said that we must Do this 10 sage
the savings banks, II 70. that would be
a serious problem. DO not believe 1t to
be true These institutions are under the
care of the State, their trustees governed
by the laws in making their investments
SO as to make the deposits secure to the
Women Of small MA" savinas. Thev place e their
money there and receive SO much dividend
AZ 1t may be able to earn be it more or
less. It is said that by maintaining the
the sayings banks, and they will not be
| in condition to pay the rates of dividends
they are now paving. think the eX-
entirely. OH the other side. Through the
rate of dividends has decreased the
amount OF deposits has been constantly
increasing and 1t is but true that by re-
ducing the dividend you decrease the de-
posit You can invest your money in no
place as safe as a savings bank and get
4 per cent, out of 1t. 1t Is free from taxa
depositor gets his dividend it is all clear
but the man who invests in stocks and
cureties, is at least nominally liable 10
pay the tax out of the dividend that he
receives. So there is not that danger
facing the savings banks. We have the
interests of the entire State to consider
and | do not see how we can be justified
IN reducing the tax on particular class
of investments which now pays from one
half to one-third the taxation paid by
other investments.
The bill was given its second reading
and the question was then upon the pass
age called for the yeas and nays and the
yeas and nays were ordered.
= YeaLBilIinss; chamberlain, Clason'
noids. Walls. William, Wyman~12.
Nay-I1ngel, Hargraves, Head, Max
well. Mccullough. Merrill: Parsons, Pike,
Poor, Roberts. Salley, Sharp. Simpson,
Stearns. Weeks-15.
Mr.. Savage who would have voted No
paired with Mr.. Drnmmond who would
affirmative and is in the negative pass
age was refused.
SOLDIERS HOME IN MAINE.
Resolve in favor of the Soldiers Home
in Maine tabled pending motion to re-
consider action non-concurring in indefi-
mite postponement and specially assigned,
was taken from the table.
Mr. Roberts OF oxford, stated that when
a vote was taken upon this resolve. the
question was misunderstood by him and
he therefore moved the yeas and nays.
Mr. Morrill, of Cumberland and Mr.. Bill
lings of Waldo spoke in favor of the re-
solve and opposed the reconsideration
already taken before the Senate. The
yeas and nays We're ordered and the
question was upon the reconsideration
of the vote.
Yea-Cham berlain. Hargraves, Head.
Hurd, Maxwell, Mccullough, Pike. Rey
nolds, Roberts, Savage, Sharp, Simpson,
Walls.-15.
Nay-Bilings. Clason, Engel. Grindle
Hinkley. Merrill, Morrill,. Parsons. Poor.
Reynolds. Saley, Stearns. Weeks,
Witham-14.
Absent-Drummond, Ferguson, Wyman
s
Thirteen voting in the affirmative and II
in the negative. the motion to reconsider
was lost. The resolve was then passed to
be engrossed.
On. motion by Mr.. Savage, the bill to
regulate the sale and analysis of concen-
trated feeding stuff was taken from the
table and re-assigned for this afternoon.