The Owosso times. (Owosso, Mich.) 1897-1926, 1899-04-28

m. d." etc.
The legal rates Of interest follow the
downward trend Of the general trade
in the course Of business. There was
quite a little controversy in the senate
over the Davis bill reducing the legal
rate from 8 to per cent. and the high
est rates at which contracts may be
made from to per cent. Senator A.
G. Smith OF AIissaukee, Senator Lyon
of Hillsdale and others opposed any
reduction in the latter rate. They ar
gued that 1t would simply drive capital
from the state and, in a great many
instances, would render IT impossible
for residents of the northern part of the
lower peninsula to borrow money with
which to improve and develop their
lands. Under the leadership of Sena-
tor Davis, who argued that only bank
ers wanted the higher rate maintained
and that the man who Is loaning money
at per cent. is in clover, a majority of
the senate voted for the reduction. The
fact is, as was set forth during the
discussion, that bankers will not be ma
terially affected by the bill, as there is
nothing to prevent them from getting
the increased rate in the way of bon
uses.
Beet-Sugar Trust.
The beet sugar trust having absorbed
all the sugar factories in Nebraska, is
now reaching out to other states with
a view to corrallng the entire beet
sugar interest Of the country. Antic-
ipating that the trust will invade Mich
igan, the senate has taken time by the
forelock and passed a bill providing
that any beet-sugar company that be-
comes in any manner allied with the
trust shall forfeit all claim to state
bounty. The bill is comprehensive, COW
ering every possible contingency, the
legislature not proposing that the trust
shall institute a raid on the state treas
ury.
1t will not be surprising IL the era of
better feeling and the renewal of cordial
relations between the north and south
will deplete the military museums of the
state Of its array of captured battle
flags. 1t was only a fortnight ago that
the legislature authorized the return
Of one of these trophies, and now, at
the request of Colonel C. v. Deland and
Lieutenant Colonel j. e. Bucklen Of
Jackson, George w. Stone, G. H.
Saxton, and others of this CITY,
shooters, the legislature has unani-
mously adopted a resolution authoriz-
ing the quartermaster general to deliver
to Adjutant Stone tho flag this regi-
ment captured from the Petersburg
Grays in 1865. Adjutant Stone will re-
turn the flag to the Virginia regiment
as a recognition of it's gallant services
in the war with Spain and as an evil
90 HA Lii te%
ing between the people Of all sections
of the country. The Grays are an an
Client organization, having been organ
lied since 1920. The flag in question
was presented to the regiment by the
ladies of Petersburg in 1850.
The Agricultural College.
The agricultural college is in excellent
repute with the legislators, its record
during the past few years having been
almost phenomenal. 1t Is now crowded
In every department, and, recognizing
the imperative need for increased ac-
commodations, the senate has passed,
without a dissenting vote, bill appro-
priating $S3, ZOO for a women's dormi-
tory building, $4,000 for a dairy build
ing, 5000 for barns, and items for gen.
eral repairs, furnishings, sewerage, in
creased water supply. ETC., which brings
the total up to $4,000. The institu-
ton has never before done the work it
is now doing, and the attendance is
twice what it was a few years ago. 1t
is having a wonderful and substantial
growth, and the people Of the state, es-
pecially the farmers, are very proud of
it,
There was a long debate in the house
over the joint resolution proposing an
amendment to the constitution provid-
ing for the adoption Of the referendum
system with reference to enactments of
the legislature. The proposition was
that no bill passed by the legislature
and approved by the governor should
become a law unless ratified by a ma
jority vote of the electors in case per
cent. of the electors petitioned for its
submission to the people. The discus
sion was long, but not serious, most of
the representatives having no sympa-
thy whatever with the plan, and argu-
ing that its adoption would surely give
the tail an opportunity to wag the dog,
experience having demonstrated that 1t
Is always a small minority Of the cleo
tors who vote on constitutional amend
ments. Some were in favor Of the plan
II the number of petitioners were in
creased to 25 per cent, but the major
ity were opposed to 1t on any basis,
even going to the extent Of adopting a
sarcastic amendment providing for the
adjustment Of the legislature altogeth-
er. The joint resolution was slaugh-
tered, and will not be heard from again
this year.
State House Overcrowded.
For several years the state house has
been greatly overcrowded, notwith-
standing the fact that the offices Of the
labor commissioner and food commits
sioner, and the state armory are To-
Gated in a downtown building. This
building is not fire-proof, and 1t is In
the heart of the business section, where
the risk Of fire is very great. A fire
would surely cause the loss Of valuable
records. For this reason the house COM