Daily Kennebec journal., 1899-03-02
MAINE LEGISLATURE
Legislature hold two sessions day un
til otherwise ordered.
PASSED TO BE ENGROsSED.

til otherwise ordered.
PASSED TO BE ENGROsSED.
Bill an act relating to the Young
Mems Christian Association of Port
land, Maine.
Bill an act relating to sealers OF
weights and measurers.
Bill an act for the prevention of cer-
tain kinds of nuisances.
Bill an act to incorporate the Ogun-
quit Sewerage Company,
Bill an act authorizing the Manufac-
turing Investment Company to locate,
erect and maintain piers and booms in
the kennebec river.
Bill an act authorizing the city of
Bangor to construct bridge over
Kenduskeag stream near the European
and North American Railroad bridge.
Bill an act giving lien for snoring
and running logs
ORDERS OF THE DAY.
Mr.. Vickery of Misunderstanding
the second reading of Senate document
number 67. Senator Jones of Penobscot
had il laid on the table for an eXami-
nation of the bill He has examined
it and says that he has no objection
to it; therefore l move that the vote
be reconsidercd whereby it was made
a special assignment for Thursday.
that il be taken from the table and
given it's second reading.
The motion was agreed to.
Rill an act to consolidate, Simpllfy,
revise and amend the laws pertaining
to inland fisheries and game, as con-
tained in chapters so and 40 Of the Re-
IN, dpyNo oltC
and additions thereto, and to repeal old
and obsolete Private and Special Laws
pertaining to fishing in the public wa
ters of the State.
The bill, having had its second read
ing. was passed to be engrossed.
On motion by Mr.. Blanchard OF
Franklin, resolve in favor OF blasting
a ledge in the town of Frenchville, in
the county of Aroostook. was taken
from the table, read the second time
and passed to be engrossed.
On motion by Mr.. Witham of Cum
berland, the report of the committee on
interior waters, reporting leave gto
withdraw on petition of Warren B.
Chute and IS others, for the improve
ment of Songo and Chute rivers, was
taken from the table and recommitted
to the committee on interior waters. "a
RATE OF INTEREST ON PERSONAL
LOANS.
Mr.. Blanchard of Franklin, moved 70
take from the table House document
number 49, bill an act to limit the rate
of interest on loans on personal prop
erty. &
Mr.. BLANCHARD: ] move that the
bill take it's second reading, and that
the vote be taken by yeas and nays.
Mr.. REYNOLDS of Cumberland: Mr..
President, before we proceed to vote
by yeas and nays. l wish to say just
few words in regard to this bill. 1t is
made necessary by the fact that l am
a member of the committee on legal
affairs, which has reported it. and the
further fact that I have understood
within day that there was opposition
to in the Senate of which l did not
know. l have just a few words to say
in regard to this matter. What the line
Of opposition is cannot state. but the
reason of this bill is this: 1t was intro
duced into the House by Mr.. Morey,
and Mr.. Morey, l suppose, introduces
bills that come to him. as DO the rest
of us, many of which we do not ap-
prove. possibly many more which we
are not interested in, but this one Mr..
Morey was Interested in. 1t was one
which he approved.
AS brought originally before the COM
mittee. it was not In its present shape.
In the hearing before the committee
this state of facts was developed py
witnesses who were there. which was
only confederation of the experience
l imagine of every man who has come
in contact with business matters, that
large rates of interest are charged ana
that many people who had placed theif
property under mortgage were COM
PEELED to pay, as was testified DeIore
the committee, somewhere from 10 lo
per cent. a month. Now, so far as
know, no person would want to APP
prove, on general principles. of pay
ments at that rate. The committee
thought that was the fact, but the pill
as originally presented did not com
mend itself entirely to the Judgment oi
the committee. and they worked on the
matter until this bill came as result
During that time this fact developed
that in the state of Pennsylvania this
question of exorbitant rates of inter-
est had come before the highest courts
there, and the courts had said that II
was against public policy and that such
rates of interest should not be charged
l think the matter has been raised IN
our own State, in the city of Water
VILE. where Judge Philbrook. mem
Der Of the House. has secured a writ oi
Injunction to prevent the exaction OF q
rate as high as 10 per cent. right in TINS
State Now this state of facts exists
that they are charging very large rates
of interest Our committee felt tha'
they could not wholly remedy this eVil
In this State there can be charged any
rate of interest that people can agree
upon. and the result is that people VINO
are pursued by disaster from one stage
to another get into that situation tha'
they make contracts. as proved before
the committee. that are exceedlngl!
onerous.e paving in short time the
principal several times over In vie"
OF that fact we have reported TINS
that is to say in those matters above
$500, let the supreme court take care
of it, but in these matters of less thar
5000. it is not fair to subject these peo'
pie who have such small sums at stake
and such small sums with which to en-
force their rights-it is not fair to SUP