New-York tribune., 1902-01-02
COMMENTS OF LEGISLATORS.
GOVERNORS MESSAGE RECEIVED FA-
NEUTRALITY-SUSPICIOUS. HILL ON
THE CANAL MEASURE.
[pr TELEGRAPH TO THE TRIBuNE.I ]

ALBANY Jan Comment tonight on Gov
ernor OdeIrs message from Republican members
of the legislature favorable. and not bitter
" unfavorabIe from the Democratic Assembly
men. 1t was recognized by Senators and As
semblymen that the Governor had clearly made
a careful analysis of the States finances. and
that it would probably be feasible 10 carry out
his plan for the practical abolition of direct
State taxation in the coming fiscal year. In the
present fiscal year the direct State taxation
amounted to nearly 100000
Governor Odell proposes TO impose direct State
tax Of only thirteen one-hundredths of a MILL
which would produce the present equalzed
valuation of the State the sum Of SI39 299 81.
Substantially. therefore, taxpayers would have
to pay only local taxes
Governor Odeu in his message does not take
into account some $4,000 900 which he estimates
would reach the State Treasury If tax of five
mills should be imposed upon mortgages, paid
as a recording tax. bill imposing such a re-
cording tax upon such mortgages at once
introduced by Senator Stranahan. 1t promises
TO be of the most thoroughly debated meas
ures before tie legislature. Commenting upon
1t, Senator George A. Davis. of Lancaster, Erie
County who has had experience in the manage
ment OF estates. said:
The old Stranahan Mortgage Tax bill I re-
Gar,ied as unjust and so fought it, This one
hope will pass. Recently in Erie County they
have been taxing the mortgages heavily and
this taxation has become burdensome. l believe
the present mortgage tax bill will be welcomed
both by those who favor mortgage taxation and
those who oppose It. because II will impose q
tax upon mortgages and yet. after a tax is once
paid mortgages are thereafter free from taxa
tion. In my Judgment. If the bill Is passed this
action will tend to reduce the rate of interest on
MORTGAGES. because nowadays there is fear of
the taxation of mortgages. and consequently
higher rate of interest is demanded than would
otherwise be the case.
BELIEVES IT WILL BE PASSED,
Senator Strdnahan expressed the conviction
tonight that his mortgage tax bill would be
passed. and declared that in his opinion II was
a fair measure, and would do away with many
unjust features of the present mortgage taxa
ton laws. He said the S30G0OoO income esti-
mated from his mortgage tax bill wholly
ba sed on estimates formed of the amount of
mortgages upon real estate, and no estimates
had beer made as the probab BILE income from
other mortgages.
Assemblyman julius II. Seymour. of New
York who last year introduced and pushed bill
exempting mortgages from taxation, notwith-
standing Governor Odelrs recommendation to-
day in his message that mortgages be taxed five
mills and then be relieved of taxation again, In
troduced to-day MS measure exempting mort
cages from toxation. Mr. Seymour expressed
the opinion also that the present Stranahan
mortgage taxation bill not oppressive
his former one but II still oppressive and
ought not to be passed. Any taxation OF mort
cages was a tax upon the borrower, and in
creased his burdens In New-York City the bur-
dens of the real estate owner in the form or
taxation were now far too great. This Stran-
ahan bill would increase them and he did not
think the real estate owners were in position
TO meet the additional charges.
Senator George A. Davis of Buffalo, said this
evening that before the Stranahan mortgage tax
bill was passed effort would be made to
amend it to so provide that a certain proportion
Of the revenue collected by 1t should go to the
localities collecting it,
The method of dividing the tax among local
communities said Senator Davis. would be the
same as used in collecting the tax under the
Raines Liquor Tax law"
Governor Odelrs recommendation that the pro-
posal to enlarge the canal locks to one thousand
ton barge capacity and that the Erie Canal be
deepened to a uniform depth of nine feet be
submitted to the people as two separate propo-
sitions was also a subject OF comment to-day.
First cost of eliminating the locks at Cohoes
and LOckport and lengthening all others. in
Guiding the construction of a channel for
the Erie Canal between the Hudson River and
Rexford flats would be $13. .694. .594. That would
be one proposition to be submitted to the people
Second, the cost of completing the work of
deepening the Erie Canal to a uniform depth
of nine feet would he $15.076.936. Commenting
upon these propositions. Senator Hill of Buf-
falo, said;
l hope the legislature will approve both propo-
sitions, and that the canal men of the State will
support Governor Odell in his recommendation.
An enlargement Of the Erie Canal to a uniform
depth of nine feet and the lengthening of the
locks would save one-third of the time the
canal boatmen now consume in going with their
boats from Buffalo to New-York Canalboats
which carry 240 tons of freight would then
carry GOO tons Of freight. Then there would be
fleets OF from four to six canalboats and that
would give the canal boatmen more profit
Senator Merton E. Lewis. OF Rochester. said:
II the canal propositions are to be submitted