New-York tribune., 1902-01-07
RAINE.S HAS STAMP 7AX BILL.
ALL INTEREST BEARING EVIDENCES OF
INDEBTEDNESS INCLUDED.
[RY TELEGRAPH TO THE TRIBUNE. ]

a
Albany Jan 6.-In the Senate Senator Raines
introduced bill tonight which it is suspected,
he hopes to substitute for Senator Stranahan $
bill taxing mortgages. The bill provides for the
taxation of all interest bearing evidences of in
debtedness
Twenty per cent of the revenue thus obtained
is to go 10 the state and so per cent TO the
counties where the taxes are levied, except in
the city of New-York. Here the money is to
be remitted to the City Controller. This official
is then to apply the money in defraying the
necessary expenses of the different counties
constituting the city. The contracts which are
10 ne taxed the bill says. shall include all docu-
ments, instruments, agreements ceruhcates'
debentures bonds mortgages. notes. shares or
corporate stock or any other evidence OF in
debtedness of whatever kind upon which IN
terest or dividends may accrue"
The tax applies to persons. corporations CO.
partnerships. associations, or other comolha :
tions of persons either secular or religious 1t
is TO be collected by the regularly constituted
officers.
The bill provides that stamp shall be at
tached to all contracts made taxable by Its pro-
visions These stamps will thus represent the
amount of the tax. The State Controller is 10
issue the stamps and send them to the olHerehI
tax collectors who to make verified report
to the Controller the last day of each month Oh
the number sold.
The bill. also provides that there can De no
other tax levied upon these kinds of contracts
1t is thus seen that the plan of Senator Raines
goes still further than that of Senator Strana-
han which taxes only mortgages. In many
1vavs if resembles the stamp tax bill Whlch
Senator Raines introduced late in the session
last year
Senator Brackett Of Saratoga. introduced to-
night bill to carry out Governor Odells recon-
mendation that the State hospitals for the insane
be abolished boards of visitation for hospitals
he abolished. and the present powers OF tLe
State Commission in Lunacy over the hoSpltals
be extended.
The bin provides that the boards of managers
OF the eleven State hospitals for the insane shali
go out of office on April / Of the present year.
and that their powers and duties shall De as
sumed by the members of the state COMMISSION
i'm Iunacy Four boards OF visitation are esla D.
lished-one for the Long Island state dospltai
and the Manhattan State Hospital, one for the
Hudson River State Hospital, the Mlddleto"h
State Homeopathic Hospital and the bingham
ton State Hospital: one for the ST Lawrence
State Hospital the Utica Hospital and the w IL
lard State Hospital and one for the RoehesIer
state Hospital the Gowanda State Hom9o-
pathic Hospital and the Buffalo state Hospital
Each Of the boards is 10 consist OF five members
Each is to visit the hospitals In its care at least
three times year
the Governor, stating in detail the condition of
each hospital The Commission in Lunacy Is to
appoint for each hospital. often as vacancies
occur. a superintendent or a steward, who may
he removed by vote OF a majority or the COM
mission for cause stated in writing and after an
opportunity has been given him to be heard.
The Commission in Lunacy Is TO maintain an
effective supervision and inspection of each Of
the State hospitals.