Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1899-02-27

rom II n Ol un6 ueITluUIf w WIG
ther. 1t is certain that the poor people
hould not be expected to pay all OF the
axes, and inasmuch as the measures IN
reduced here do not impose near so much
AK on the corporations as other states
md territories, | can see no reason why
New Mexico should not receive a fair
hare of the Just license for permitting
,hese institutions to do business. 1t is
a question of providing money
or the maintenance of the schools
some such means, or else throt-
ling such institutions, which are looked
IN everywhere as a credit to the terri
tory and an attraction to those who
would invest and make their homes
here. 1t would look infamous to see
our splendid institutions closed and the
buildings which are a credit to any
place, going to rack and ruin. On the
other hand, to provide mean for main
them. mean that the territory
go further in debt and ultimately
default on the interest of it's bonds, IT
the present system is continued.
concerning the bugaboo about loan
associations Withdrawing from the terri
tory, / desire to give some figures. Four
teen national loan associations have
been operating in the territory during
the past ten years. Only one OF them
has complied with the law in the matter.
The total loans made during ten years
of operations by all these companies do
not exceed $140, 900, however, the asso-
Citations represent an aggregate asset of
of So, 1888, s4s. SO. They have lately been
taking out of the territory $l5O,00o per
year, which amount is more than they
have loaned altogether in ten years.
AS a rule, foreign companies only loan
to encourage the purchase of stock and
they take out $40 for every 81 that they
loan here. The six local associations
which are operating in the territory
have assets Of $500, 900. They are most
certainly entitled to protection. The
foreign associations have a great many
advantages over the local affairs.
At present they do not pay any tax
and are not licensed in any man
ner. They take out every three
years in dues on stock, as much as is in
vested in the total number of local asso-
Citations. This money all goes out,
without bringing in one cent of revenue
to the territory. Nearly every other
state and territory has supervisors OF
the building and loan business and this
is this is the only place where the bars
are down entirely to let foreign com
panies in. If local concerns were pro-
tected, it would mean that more of then
could be organized and the money that
now goes out to foreign concerns would
be safely and profitably invested in the
territory 1t is now impossible to or
ganize in the small town or place
branches of territorial associations ir
operation, because the outsiders are get
ting all the business. If foreign asso'
Citations were made to pay a license O.
ST. for each 81 900 assets, it would bring
the territory an annual revenue OF 81,
800.
BUSINESS TRANSACTED TODAY
In the house today bills were introduced
to grant all Incorporated cities or town'
the power to levy a special four mill tai
| for the maintenance OF a water protec
| ton against fire: to authorize the build
ing and repair of sidewalks in all towns
having more than 1000 population; tt
provide that hereafter all attachment
proceedings in the district court may b.
tried without the Intervention of a jury
and to pay c. H. Laidlaw for none,
spent in behalf of the territory durin!
the Omaha exposition. A council join
resolution was introduced to permit thu
speaker of the house, president of thu
council, chief clerks of both houses AM
stenographers to remain over ten day
in Santa Fe for the purpose of transact
ing the unfinished business of the legis
lature. Bills were passed to regulate thu
compensation of county superintendent
of schools, to amend tie act for furnish
ing and completing the capitol at SAINT;
Fe, to fix the compensation of consta
bles for the removal and care of prop
erty taken by them under execution
and to strike the word 'rebcl' from tn,
plaza monument in Santa Fe and sub
stitute ''confederate' therefor. Bill!
were tabled to dispense with the neces
sity of seals and scrolls on legal docu
ments and to provide for the paymen'
of certain muster rolls and document!
pertaining to the volunteer militia ant
regular army service during the war O.
1861. In the council, bill swere intro
duced to provide that 30 days shall
elapse before the sale of strays; to pro
tect fire insurance companies and the
assured therein. Bills were passed fol
| the erection of school houses in district.
where needed, to insure territorial ant
county buildings, to regulate the com
pensation of county school superinten
dents. The house has accepted the in
vitation of the Las Vegas Normal schoo
to attend the dedication ceremonie!
| there March 4.
Messrs. Cahoon, Hinkle and Jaffa
prominent Chaves county citizens, wer'
visitors at the legislative halls today.
Councilman Bursum's substitute foI
the refunding bill has been prepared
and may be reported to the council to
morrow.
1t is believed that many members o
the assembly will attend the dedication
ceremonies of the Las Vegas Norma
University on Friday next.
Major w. H H. Llewellyn is not 81
we'll this morning. Mrs. Llewellyn ant
son are with him and he is receiving the
very best of nursing and care.
Major Max. Luna, speaker of the
house, has recovered from his temporary
illness and welded the gavel this morn
ing with usual ability and fairness.
The members of the assembly ARE but
little for the ~falsehOods and lies con.
tanned in correspondence to the Union
party gang papers. This rot cuts no ice
with the members. They know the ma
ture of the beast.
In TIE absence of Colonel Chaves, who
is in Los Lunas, looking after Mrs
Chaves, who is i'll, Hon. J. A. Ancheta
presided we the deliberations of the
council this morning, and did it well
and very satisfactorily to all concerned.
AL.