Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1903-03-14

of the State Committee of the Young
Women's Christian Association of
Maine. reported same ought to pass.
Under rule Is referred to Appropria-
tons and Financial Affairs.
The same Senator for the same COM
mittee on resolve in favor of State
Committee of Young Mems Christian
Association of Maine, reported ought
not to pass.
Passed to be Engrossed.
An Act in aid of soldiers of the
Aroostook war.
An Act to amend Chapter SO of the
| Public Laws of 1899, amendatory of
CHAPTER ZIG of the Public Laws of 1895
as amended by Chapter 2S6 of the
Public Laws of 1887 in Chapter FOG of
the Public Laws of 1901, entitled An
! Act to provide for the schooling of
children in unorganized townships.
An Act authorizing the town of Fort
Fairfield to make a loan.
An Act relating to the jurisdiction of
the Municipal Court of the city of Au-
burn.
An Act to regulate the taking of
cod fish. pollock. hake and haddock in
the waters of Frenchmans Bay.
An Act to enable cities and towns
to establish permanent fuel yards.
Orders.
On motion by Mr.. Clark of Hancock
it was ordered, that the House con-
curing, when the House and Senate
adjourned agreed to meet on Tuesday,
March II, at ten thirty o'clock A. M.
This order was subsequently re
turned from the House, concurred in
by that branch.
Passed to be Enacted.
An Act to amend Section IL, of
Chapter 6S of the Revised Statutes, re-
lating to Trust Estates.
An Act to amend Chapter 4S of the
Public Laws of 1891 relating to the
practice of dentistry.
An Act to consolidate the Atlantic
Shore Line Railway, Sanford and
Cape Porpoise Railway Company,
Mousam River and Sanford Power
Company.
An Act to incorporate the west
branch driving and reservoir Dam
Company.
An Act to amend Chapter 407 of the
Private and Special Laws of 1916 en-
titled An Act to incorporate the Pen
obscot Log Driving Company.
Orders of the Day.
On motion of Mr.. Burns of Cum
berland. the vote whereby the report
of the committee ought not to pass. on
resolve in favor of topographic and
geological survey, was amended so that
said report should read ought not to
"a G
accepted. The resolve was tabled for
printing under the joint rules.
On motion of Mr.. Wing of Andro-
scoggin, Senate document l5i, relating
to taxation of mortgages was taken
from the table.
| Mr.. WING of Androscoggin, Mr..
| President, l desire to call the attention
to the provision of this bill. 1t con-
sists of one section only, and with
your Indulgence l will read it.
| An Act Relating to the Taxation OF
Mortgages.
Be it enacted by the Senate and
| House of Representatives in Leglsla-
ture assembled, as follows:
Section /. Section five of chapter
six of the Revised Statutes is hereby
amended by inserting after the word
| owing in the fifth line, the words
| but not included in such debts any
| loan or mortgage of real estate, tax
able as real estate, except the excess
of such loan above the assessed value
of the mortgaged real estate, so that
said section as amended shall read as
| follows:
Sect. 5. Personal estate for the pur-
| poses of taxation, includes all goods
chattels, moneys, and effects, whereso-
| ever they are: all vessels, at home or
| abroad; all obligations for money or
| other property; money at interest, and
debts due the persons to be taxed
more than they are owing, but not in
| Guiding in such debts any loan or
mortgage of real estate, taxable as real
| estate. in this State, except the excess
of such loan above the assessed value
of the mortgaged real estate; all pub
| lie stocks and securities; all shares IN
moneyed and other corporations within
or without the State. except as other
! wise provided by law; all annulties
PAYABLE to the person to be taxed,
when the capital of such annuity is
| not taxed in this State; and all other
property, included in the last preced-
| ing State valuation for the purposes Of
| taxation.
Sect. .. This act shall take effect
when approved.
| | wish to call the attention of the
Senate to the fact that this bill ex-
empt from taxation money loaned on
mortgages on real estate; and perhaps
| the title of the bill should be; An Act
to relieve money lenders from taxa
| ton.
I have no interest in this measure
except what interest l have in judi
cious legislation. but l can see no
moral, business or political reason for
exempting money lenders from taxa
ton. National banks, savings banks
loan and building associations and
trust companies all pay taxes on
money loan: and why should they be
Disseminated against by creating a
class of people who can loan money
and be exempt from taxation.
|