Daily Kennebec journal., 1899-03-18
STATE MEETING.
Continued from page 81


for them. for if they are worth having
he said, they are certainly worth pay
ing for. He also thought the compan-
les who come from other states to this
10 organize should be made to pay
more than they do. He said it had
been argued that it would deter them
from coming. but he doubted If it
would. 1t would cut into the corpora
tion lawyer. he said. and he was sorry
to admit that that same gentleman had
much to do to influence legislation.
He also thought that great refor-
nation should be- made in the savings
bank law. Here" he said. rich men
hide their earnings and keep it from
being taxed He gave the savings
banks a thorough overhauling and laid
open several questions in the minds of
many. that had never before been
there.
He said he would not touch the rail-
road tax but would touch upon the wild
land question. which he admitted. was
subject upon which he was preju-
diced He thinks they pay fully as
much in proportion 70 any other prop
erty. considering the claims of the
state upon them.
Hon. John A. Roberts of Norway.
was the next speaker. He first spoke
against letting the corporations organ
ize here on bankrupt basis and thus
bring about suffering throughout the
country, and thought the corporation
business should bring more revenue to
the State. He does not expect a new
law regarding taxation for quite a
while as the people are too cOnserva-
tive to jump into it. He referred to
the section in the constitution that said
all property should be taxed equally
and he used this as the foundation for
the greater part of his sound remarks
He said he represented the farmers of
the state and they think their real es-
tate is taxed too high. and not equal to
the property of large corporations.
Hon. William G. Marshall of Belfast.
one of the members of the board of
State assessors. concurred with part
of what the preceding gentleman had
said. The State needs more revenue"
he said. land the State needs economy.
The usual appropriations have been
made, and now comes the task
of raising about $l5O0OO moro
ludu last NSdi I1C ScAu II was
to get at the per-
sonal property owned by men. OF
the $iS5. 900 of real estate and per-
sonal property valued in the State. IS
per cent. is real estate. This is not
just. he said. as the personal property
is certainly equal to the real estate.
The personal property. he remarked,
is not tangible and is invisible. The
real estate is the opposite. A listing
law is needed. yet it was once defeated.
Railroad bonds are taxable said
Mr.. Marshall but we can't find them
to tax. There were returned to us $4O,-
900 of railroad bonds as assessed. while
in this State the railroads return $43.-
900 900 Of outstanding bonds. Of these
s.. 900 900 are taxed as they are owned
by savings banks who have to file
them on their returns
THE loss of the other $41.O00.O00 to tax.
loses $35O.000 each year to the State.
The railroads should be made to re-
turn to the State the ownership of the
bonds as the cashiers Of national banks
do the owners of that sort of stock, and
then all this could be taxed
Hon. Edward Wiggin was called up
that the. representatives of the mer-
camille. the farming. the transportation
and the banking branches of business.
should meet and each make conces-
sions for the good of the people. He
gave history of the past efforts in the
way of changing the laws relating to
taxation. and referred all to the report
of the taxation commission that report
ed few years ago.
President Sibley of the Belfast Board
of Trade. said he would refer only to
that class of taxation that was includ-
ed where town votes to abate the
taxes on an institution. in case 1t will
come to the city or town and locate.
He said some had contended 1t was not
right. He thought it was, as he said 1t
still farther increased the chances pf
the tax payer to earn the money to pay
his tax and would in time become a
tax paying institution.
Mr.. Goldthwaite of Biddeford. fav-
ored system whereby the real and
personal estate owner, would be made
to come forward and disclose and the
pena,ty for not disclosing property be
made the same as the punishment for
perjury. Captain H. N. Fairbanks of
Bangor. and NJ. G. Foster OF wafer
vile, also made remarks.
Mr.. Mcconyille Of Bangor, urged
that the merchant marine of the state
he assisted by the passage of reso-
luton recommending to the American
coastwise trade the use OF the new oiii
Of lading for lumber. recently adopted
by the Maratime Association OF rev
York. which gives the owners OF
schopuers a better chance Of protection
from the hoggishness of the consighees'