The times. [volume] (Richmond, Va.) 1890-1903, 1898-02-15

the building associations as Gre
ators OF taxable values. FROM
20 10 50 per cent Of the loans made and
the houses erected n Norfolk was done
through the building associations. II the
bill was adopted many building and loan
associations In Norfolk would be driven
into liquidation.
Mr. Henry Hutzler Of this city. also
spoke Of the high rate of taxation as
provided by the bin.
Mr. Watson OF Portsmouth. used as
illustration the Fifth Ward Of Ports
mouth which originally consisted ~ two
farms. assessed at $4,000. while az pres
ont the valuation Of that property was
over $4,000 u consisted Of five hun
dred houses 50 per cent OF which were
built by such associations.
Mr.. William p. McRae. Of Petersburg
told Of his experience as a stockholder
IN a Tennessee association which by ad-
verse legislation. had been driven out Of
business.
After some further discussion on the
part Of those who opposed the measure
Mr. Minter addressed the committee in
advocacy Of the bin. he endeavored TO
show that these building and loan assoc
Citations We're not as .mpecunious as they
had been represented but that they made
large profits.
The committee finally went into cxecu-
tive session and decided by a vote OF .
20 20 report the SIN with The recon-
menao+fo~ .,,of ts 20 800 -~-~
NEGOTIABLE INSTRUMENTS.
The Senate Committee on Courts OF
Justice and the Corresponding Committee
OF the House OF Delegates met last even
ing IN the hall Of the House Of Delegates
for the purpose Of considering "a general
bin relating 10 negotiable Instruments.
being measure 10 establish a law uni
form with the laws OF o'her States on
that subject The bin had been prepared
by q special commission appointed two
years ago under an act Of the Legislature
and Of which Mt +. w. Saunders Of
Franklin. and Mr. w. +. McRae, Of
Petersburg. are members.
The committee heard Mr. McRae who
appeared before the body 90 explain the
purport and the provisions Of the BILL
lie stated that IN England they adopted
"a similar bil some years ago and that
the experience OF that country had been
most satisfactory. He went on 20 say
that the commission had cmploved an
expert 90 take the English act as n basis,
and draft statute for the commission.
After this had been done. and the draft
e section by section. and now submitted
their work to the Legislature Of the dif-
orent States.
After hearing from Mr.. McRae and
briefly from MI Saunders the joint
committee reported the bin with instruc-
tions 10 have "a number OF copies Of the
bill printed.
LEGISLATIVE NOTES.
Or. r. B. James. Of Danvillc Va. IS IN
the city 10 attend hls brother. Senator r.
s. James. who has heen M for several
days lie will take the Senator home as
soon as Il is safe for him 90 travel.
The caucus 10 nominate Judge Gunter's
successor viii be held tomorrow night.
There was an unusually large lobby at
the Capitol yesterday
4 dozen or more building and loan as
sociauon people were here TO oppose the
SwitZer bill
Mr. Henry q. stuart prominent citi-
zen OF Southampton Virginia, was at the
Capitol yesterday.
Mr. A. j. Withrow. member of tho
House OF Delegates from Allcehany.
Rath and Highland returned yesterday
afternoon from his home In Millsboro.
Bath county where De went on Saturday
to attend the funeral Of Mrs. =. $. Dicker-
son.