The daily morning journal and courier., 1901-03-20
THE GENERAL ASSEMBLY
4 BILL CONCERNING THE TAXA.
 IION OF BANKS.
Reported by the Committee on RevisOn
 of tho Statutes-A iscussion on the Received from Committees Yesterday.

Received from Committees Yesterday.
 The statute revision commission sent in their report to the revision of stat utes committee yesterday, accompany ing it with bill which it is proposed to have passed revising the tax laws of the state. The hearing on this Dill will be held on Saturday and will be one of the most important of the Ses- sion.
 The proposed bill is entitled An act concerning the taxation of banks, trust, insurance and investment companies, and provides in brief as follows;
 Section 1.-The secretary, treasurer or cashier of every bank, trust, 1nsur- ance, investment and bridge company shall annually in October file state ment of it's capital stock and market value thereof, and shall pay to the state before January 10 following tax of l1@ per cent. of market value as such value shall be determined under the following provisions:
 Section 2-During November in each year the treasurer and comptroller of the state, as a board of equalization, shall inquire into the market value of said stock and shall send it's report to the corporations.
 Section Son or before February the treasurer of the state shall remit to te treasurer of each town the amount of the tax received as aforesaid on the stock of any corporations owned by res idents or corporations located in such town.
 Section 4-Each town treasurer shall on or before February 15 distribute the tax thus received among the taxing districts, including the towns in which said stockholders resided, in proportion that last tax rate of such districts bears to combined tax rate of all districts, so that each district shall receive the same amonnt as if it had taxed it's resident stockholders as usual.
 Section 5-Every official herein named who shall fail to comply with the pro- visions of this act shall be fined not more than $1000 or imprisoned not more than two years, or both.
 Section 6--So much of the deposits of any savings bank as is invested in the capital stock of any of the aforesaid corporations shall be exempt from pay ment of the tax required by section 391S of the general statutes.
 Section 7-Stockholders shall be ex- empt from taxation upon their shares of stock.
 Section S-All other acts inconsistent herewith are hereby repealed.
 The statute revision commission met fin the supreme court room yesterday | morning for the purpose of hearing | those interested in the makeup of the 1 bill. Among those who appeared before the commission were James G. Batter i, son, A. C.. Durham, ex-Governor Nor [ gan G. Bulkeley, of the Aetna Life, Ma jor E. Henry Hyde, H. L. Bunce, Am prose Spencer George F. Hills, ex-Con- gressman Sperry, John R. Buck and others s39 ssv
 The general assembly convened at 1230 yesterday and held long sessions. In the house the proposed eight-hour bill introduced by MT. Housel, of New Haven, came up for action on the un- favorable report of the committee, and | after long discussion was put over until to-day for action. Mr. Housel spoke at length for his bill and was supported by MT. Donahue, of Ansonia, and MT. Donovan, of New Haven. MT. Housel said that his bill provided for eight hours as legal days work and penalty for avoidance of the law. He called for yea and nay vote on the of the committees report, carrying his point by a vote of 37 yeas, 36 only being necessary.
 MT. Whittlesey, of New London then moved that the matter go over for dis cussion to this morning and be made the special order of business at 10:30 this morning. This was cared, MT. Housel consenting.
 The railroad committee reported un- favorably on the bill providing that street railroad commission be establish ed MT. Walsh, of Greenwich reported for the committee that no one appeared for the measure, and that as two. other bills to similar ends were before the