The Owosso times. (Owosso, Mich.) 1897-1926, 1903-03-20

cent over the earnings of the CORE
| spending month OF 1901, when the jan
uary record was broken. 1t is an in
dication of the vast volume of bust
ness that Is being transacted In this
country and evidence of the fact that
the volume is increasing instead Of
decreasing as some have predicted.
The Cannon bill which provided for
the taxation of bank stock in the as
sessing district In which the bank is
located instead of where the owner
has his residence, failed of passage in
the senate by very narrow margin.
Another attempt will be made to put
1t through that body, the belief being
that it would have easier sailing in
the house. The friends of the bill
think it would serve to make it no
object for owners Of large blocks of
the stock of city banks to take up
their residences in an adjoining town.
ship in order to escape the heavier
tax rate of the city, and thus also es-
cape their share of the burden of
keeping up those city institutions
which make the stock In question
valuable.
Kellys Exemption Bill.
Tomorrow is the day fixed by the
senate for the consideration of Sen.
ator Kelly's bill, exempting real estate
mortgages from taxation. This being
one of the most important questions
with which the present legislature
will have to deal, it is expected that
the hearing will be very interesting
and instructive. 1t is expected, too,
that the question will be thoroughly
discussed. Several bills designed to
accomplish the same object are in the
hands of the house committee on tax
alton, so that if this measure should
fail in the senate. there will be an
opportunity to draft q satisfactory bill
from the material in the house. There
is little doubt that such bill as the
governor will deem it proper to APP
prove, will be passed before the close
of the session, and, in fact, before tho
time for making the spring assess
ments expires. The legislators gener-
ally seem to be DESTROYS to do away
with the system of double taxation
which the present system entails.
Michigan at 81. Louis Fair.
There appears to be n wide differ
ence of opinion as to the proper sum
. to appropriate for the Michigan eX-
hibit at the Louisiana Purchase expo
sition. The estimates run all the way
from $4,000 to S150000. Several days
ago the state affairs committee gave
a hearing on this subject to q delega-
ton of Michigan manufacturers, at
which kilograms and letters were read
from prominent business men in vari.
GUS sections of the state. The speak
ers appeared to think that 100000
would be about the proper sum to APP
propriate, but the impression of the
average auditor was that n smaller
amount will be incorporated in the bill
1t would seem to be wise to either
provide for an exhibit of which the
state will have reason to be proud, or
to forget the show altogether A poor
exhibit would be infinitely worse than
none at all.
Contract System Criticised.
The house committee on Jackson
state prison has made a report in
which it severely criticises the con-
tract system in vogue at that institu
ton. FaulC is found with the price
at which the convicts' labor is sold,
and the recommendation made that
the present contracts be not. renewed
when they expire. 1t Is further rec
commended that the board of control
consider the desirability of setting the
convicts at work manufacturing bind
err Irvine or wire fencing on state ac-
count This question of the proper
manner of working cOnvicts is an old
one and has bothered plenty of Michi-
gan legislatures before now. Unless |
miss my guess it will be bothering leg
islatures long years in the future. The
committee was unanimous i'm its rec.
omendation that $4,000 be appropri-
ated for a new cell block to replace
the one that has been in use so many
years that 1t is pronounced by the
committee as not being fit place in
which to confine men, and as being
neither humane nor in keeping with
the progress of the age to continue to
use"
While it looks very much as If the
bill to appropriate 100000 for an adj
dition to the state house has struck
snag which it will find it difficult to
free itself from, there is little doubt
that the legislature will find it abso-
lutely necessary to lay out neat sum
on the present building. At the direc-
ton of the house committee on build
ilgs, architects last week made an
examination of the roof of the state
house, which has been in use for near
ly quarter of century, and report
ed that it is in an unsafe condition
and that the new roof which Is imper-
atively needed will cost $4,000.
Relieved of Responsibility.
When the City Savings Bank Of De-
troit failed q year ago 1t had on de-
post $4,000 of state funds, and the
legislature has just passed concur
rent resolution relieving State Treas
urer Mccoy of personal responsibility
In the matter. The resolution author
ICES the board of state auditors to
make settlement with the treasurer