New-York tribune., 1900-03-23
MORTGAGE TAX BILL DEAD
SENATE PASSES MOTION TO STRIKE OUT
ENACTING CLAUSE.
rBY TELEGRAPH TO THE TRIBUNE. ]

[BY TELEGRAPH TO THE TRIBUNE.I
Albany March 22-The Senate killed to-day
the bill framed by the Joint Committee on
Taxation; generally known the Stranahan
Mortgage Tax bill This. the work of months
OF this Committee on Taxation is cast aside
worthless 1t has been evident for weeks. how
ever. that the voters of the State no merit
in measure which taxed the borrowers OF
money on mortgage in the rural districts, the
savings banks depositors and the policy hold
ers~ Of insurance corporations
In the Committee of the Whole Of the Senate
twenty-seven Senators voted to strike out the
enacting clause of the bill. but this did not. dis
close all of the hostility felt toward it, for when
Senator Stranahan moved in the open Senate
that the adverse report Of the Committee of the
Whole should be rejected and the bill ordered
to a third reading this motion was defeated by
vote of 33 to 16. This the test vote on the
bill. 1t follows:
Ayes-Boyce, Bracket, Brown. Chahoon, Els
worth, Grady, Higgins. Humphrey, Johnson.
Krum, Malby, Raines Sherwood Stranahan,
White willis-16.
Noes-Ahearn, Amber, Armstrong, Coffey.
Cullen, D. F. Davis. G. A. Davis. Donnelly,
Douglas. Elsberg. Featherson. Feeter, Foley.
Ford, Goodsell. Graney, Havens, La Roche,
Mackey. Marshall. Martin, McCarren. Mitchell,
Munzinger. Norton Parsons Plunkitt, Rams
cox-33.
Two Democrats and fourteen Republicans
voted for the BILL and two Democrats and
twelve Republicans voted against it, In general
1t may be stated that the city Republicans and
Democrats voted against the bill, and its sole
support, with the exception of that of Senators
Grady and Boyce, who represent New-York and
Troy districts. came from Republicans repre-
senting chiefly rural districts. After this vote
tfr1cr
clause of the bill was struck out. thus killing it.
The entire debate the measure was con-
Quoted in a sombre manner. Speeches OF both
those who favored or opposed the bill had the
tone of obituaries.
In anticipation perhaps. OF what was to take
place. Senator Stranahan proposed an amend
ment which would restore the bill to its orig1-
nal form. This amendment struck out the ex-
emption from the which had been afford
ed to certain great corporations of the State
Senator Coggeshall then proposed an amend
ment which he frankly admitted was intended
to kill the bill The vote on the adoption Oh
this amendment Immediately disclosed the hos
tility OF the greater portion of the senate Tow
ard the main measure. the amendment was
to the effect that building and loan associations
should be exempted from any such tax upon
mortgages. 1t adopted
Senator McCarren then made general at
tack upon the bill and moved TO strike out
the enacting clause.
the bill, and followed by Senator Mackey'
who attacked the measure on the ground thaC
it would lower the interest paid by savings
banks to their depositors Senators Elsberg
and Marshall both denounced the BILL Senator
Raines sought to solace the committee by
praisng the conscientiousness with which he
had worked to formulate the bill, and Mr.. Nc
Carren replied.
Senator Grady, the leader of the Tammany
delegation in the Senate found his forces in ut
ter revolt when he tried to bring them around
TO the support of the measure. Senator Grady
was a member of the committee which drafted
the bill. and naturally he felt a paternal in
terest in it. He stood out alone in his support
of the measure, however even Tim Sullivan
deserving him.
Senator Stranahan here sought to put forth
one more effort to save the bill Accordingly
he offered an amendment intended 10 relieve
short time mortgages. such as are often con-
tracted temporarily by builders. Thus, II
mortgage for two months the tax would
only amount TO two-twelfths of II per cent, or
one-sixth of the amount for the whole year.
Out of courtesy Senator MCCarren withdrew
his motion to strike out, that the last gasp
might be permitted. Thereupon the amendment
was adopted. Immediately upon its adoption,
however Senator McCarren renewed his mo-
ton strike out, and without further discus
sion the motion prevailed viva voce vote.