Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1903-03-30
Chapter 7.

Section 1. On and after the first day of
January in the year of our Lord one
thousand nine hundred and three, the
salary of the judge of probate for Han
cock county shall be thirteen hundred
dollars a year instead of the sum now cs-
tablished by law.
Section g This act shall take effect
when approved, Improved Feb. III.
Chapter 8.
An Act to amend Section forty-seven of
Chapter seventy-seven of the Revised
Statutes, relating to the times of holding
terms of the Supreme judicial Court in
Knox County.
Section l. Section forty-seven of chap
ter seventy-seven of the revised statutes,
as amended by section two of chapter two
hundred and flfty-three of the public laws
of the year nineteen hundred and one is
hereby amended so that that paragraph
of said section relating to the times of
holding the terms of the supreme judicial
court in the county of Knox shall read as
follows:
Knox, at Rockland, on the first Tues
day of January, first Tuesday of April,
and the third Tuesday of September
Section 2. All matters commenced be-
fore or after this act takes effect and re-
turnable to and all matters pending in
said court, and which would, but for the
provisions of this act, be entered and have
day at the term of said court to- be held
on the second Tuesday of March, in the
u,
three. as provided by law, shall be entered
and have day at the term of the supreme
judicial court in said county to be held on
the first Tuesday of April, in the year of
our Lord nineteen hundred and three,
which is substituted by this act for the
said March term, and shall have day
therein as if originally made returnable
to said April term; and any provisions of
law applicable to any term of court, the
time of holding whereof is changed by
this act are hereby made applicable to
the substituted term.
Section g. This act shall take effect
when approved. [Approved Feb. 12l.
Chapter 9.
An Act to amend chapter two hundred
fifty-eight of the Public Laws of
eighteen hundred and ninety-three as
amended by Chapter one hundred thirty
of the Public Laws of eighteen hundred
and ninety-five, relating to the taxation
Of Savings Banks.
Section l. Section one of chapter two
hundred fifty-eight of the public laws of
eighteen hundred and ninetythree as
amended by section one of chapter one
hundred thirty of the public laws of
hereby amended by striking out the
following words in lines nine to
sixteen inclusive: with aggregates
SO arranged as to clearly show
whether the purchase or acquisition of
each item in such detailed statement was
prior or subsequent to January first
eighteen hundred and ninety-three. All
assets. loans or investments made, pur-
chased or acquired from the proceeds of
assets, loans or investments held on said
January first and thereafter renewed, sold
or paid shall be entered in said statement
as acquired subsequent to said January
first" So that said section as amended
shall read as follows:
Section ]. Every savings bank, insti-
tuition for savings and trust and loan as
ISOLATION Incorporated under the laws Of
no tot -bnh llxr I,
last Saturdays of April and October
make a return, signed and sworn to by its
treasurer, of the average amount of Its
deposits. reserve fund and undivided pro-
fits for the six months preceding each Of
said days. together with q statement in
detail of its assets, loans and investments
and its deposits within and without the
state, in separate columns. Said return
shall be made to the bank examiner on
or before the first Saturdays of May and
November and within thirty days there
after, he shall fix and determine the mar
ket values of the investments aforesaid
and transmit the same with such values
so determined to the state assessors for
the assessment required by section two
Section 2. Section two of said chapter
two hundred 1ifty-eight as amended by
said chapter one hundred thirty is hereby
amended by striking out in lines ten to
thirteen the following words: land also
IN amount equal to one-Seventh of such
other assets, loans and investments as
been acquired prior to January first,
eighteen hundred and ninetythree'' also
by striking out the word seventh in the
fourteenth line and inserting instead
thereof the word 'fifths;' also by striking
cut the words land New Hampshire in
the eighteenth line; also by striking out
in lines twenty and twenty-one the words
"Scverally made. purchased or acquired
since said January first; also by striking
out the word seventies in the twenty
second line and inserting in place thereof
the word ffths; also by striking out the
word "seven" in the twenty-fourth line
and inserting in place thereof the word
FIVE; and by adding at the end of said sec
ton the following words: Provided, how
ever, that for the year beginning April first
nineteen hundred and three, and ending
April first, nineteen hundred and four, the
fractional deduction shall be two-sixths
and tie rate of assessment shall be six
Fights in order to make for said year a
reduction of one-eighth of one per cent
from the present rate of taxation SO
that said section as amended, shall read
as follows:
Section .. The state assessors shall
thereupon determine the values of the
several franchises of the said banks, in
situations and associations according to
the following rule: From the average
amount of deposits, reserve fund and I'M
divided profits so returned by each bank,
institution or association there shall in
each case be deducted an amount equal
shares of corporation stocks such as are
by law of this state free from taxation to
the stockholders, and the assessed value
of real estate owned by the bank institu-
ton or association, and also an amount
equal to two-tifths of such other assets
loans and investments as by such state
ment appear to be loans to persons
resident or corporations located and
doing business in this state. invest
ments in mortgages on real estate
in Maine, securities of this
state. public or private. bonds issued by
corporations located and doing business
in this state or guaranteed by such cor
porations provided the corporations isu-
ing such bonds be operated by and
physically connected with such guar
anteeing corporations, and also an amount
equal to two-fifths of the cash on hand
and cash deposited within the state. Up
on the value of each of said franchises so
ascertained the state assessors shall as
sess an annual tax of fve-eighths of one
per cent, one-half of said tax to be as
sessed on or before the fifteenth day of
June, and one-half on or before the fif-
tenth day of December. The state as
SCISSORS shall thereupon certify said as
sessments to the treasurer of state, who
shall forthwith notify the several banks
institutions and associations interested
Provided, however, that for the year be-
ginning April first, nineteen hundred and
three, and ending April first, nineteen
hundred and four, the fractional deduction
shall be two sixths and the rate of as
sessment shall be six-eighths in order to
make for said year reduction of one
eighth of one per cent from the present
rate of taxation