Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1903-03-25

money at interest, yielding to It'll
different communities in which it, !
taxed. about 1926, 100000. Pass that Bill
and it means that the visible property
farms, houses, stores and mills, will
nave to pay over one-quarter of a mil
more in taxes. The city of Portland
taxes $4,721,000.00 money at interest
The passage of this bill means a los
OF $500 in taxes to Portland. TIL,
town of New Gloucester in Cumberland
county, with total valuation of ALT
tie over $1,000,000. taxes 5,000.0l
money at interest. If this bill become:
a law it means loss of nearly one
half of its taxable property to~thai
town. The city of Bangor taxes ST.
| 065, 100000 money. at Interest," THE tax
rate of Bangor is .0225;, the loss of that
| city made by the operation of this bill
would be $22,500.00. Calais taxes
about 100000 money at interest Al
the per cent. rate of taxation in Calais
that city would lose $4,000 under this
bill. W..
My own town of Houlton, located
| way up in the northern wilderness
taxes s217,7Oo money at interest, OF
| which $4,000 is taxed to one man; and
ernor of this State. Pass this bill and
| these two gentlemen will be relieved of
taxes to the extent of over $1,000 and
$500 respectively, relief which they are
not asking for, and the town of Houl-
ton will lose nearly $4,000 in taxes.
The passage of this bill will relieve
| from taxation property nearly equal ii,
value to the total stock in trade taxed
in Maine, twice as large as the total
value of bank stock taxed in Maine,
and FIVE times as large as the entire
shipping taxed in Maine.
Sir, yield to no man in a desire to
lessen the burdens of taxation which
bear down upon the owner of real es-
tate, but l am not in favor of any ex-
perimental legislation, as this bill is,
which will not lessen the burden of tho
mortgagor, the borrower of money, but
which will certainly tighten the taxes
of the wealthy money lenders. Sir, l
trust the motion to nom concur will
prevail. (Applause).
Mr.. POOR of Belfast: Mr.. Speaker,
there is one point in connection with
this bill which has not been discussed,
but which has occurred to me as a
member Of the committee on taxation
since we took our vote in executive ses-
sion. The savings banks, as you all
know, pay a tax on their franchise
which is made I'D of mortgages and
other loans, largely of mortgages on
real estate. So also the trust compan-
les. Now. if you exempt the outside
money lender from taxes, will it not
discriminate against our savings banks
and trust companies, who are good
friends of the State and pay reve-
nue. of about $45O,OOO year? This law
work we'll in Massachusetts,, and it was
framed from the Massachusetts law,
but the savings banks in making their
returns in, Massachusetts are permit
ted to deduct their mortgages on real
estate. so it does not conflict and dis
eliminate against them.
/ would say that am not in favor
of the passage of the bill. (Applause)
Mr.. DAVIDSON of Hammond Plan
tation: Mr.. Speaker, as member Of
the committee on taxation I am also
willing to admit that 1 made an ass of
myself in voting for the bill. Uaugn-
ter and applause) ...
Mr.. POOR of Belfast: Mr.. Speaker, /
wish to add one more word in this con-
nection. Would it not be logical and
just and reasonable, if this bill passes,
for the savings banks and trust COM
panies to put in a bill asking like ex-
emption on money that they loan? 1t Is
matter that suggests itself in connec-
ton with this bill.
Mr.. WEEKS of Fairfield: Mr. Speak
err, If there are any other members Of
the committee on taxation who desire
to make a confession, 1 move that they
have an opportunity. daughter and
applause.)
The question being upon the motion
of Mr.. Putnam of Houlton, to non-
concur with the Senate in the accept
ance of the report,
The yeas and nays were ordered.
YEA:-Allen of Wellington, Bailey,
Benner, Blake, Blanchard, Boyd, Brew
ster, Briggs Burrill. Bussey, Butler, Bux-
ton, Buzzell. Cameron. Campbell. Garlic
pect. Cole. Curtis. Davidson, Davis, Dill
ling. Downing, Drew, Dudley. Eaton of
Calais. Eaton of Wells, Farnsworth of
Hill of Brownfield. Hill of Winterport,
Hinckley, Howes, Hubbard. Irving. Jones.
Knapp kfoTtSn Of IF New pet
Libby Of Oakland, Littlefieh, Low, Man.
son, McGregor, McIntire, McFusick,
Mead, Merriam, Newer, Mills, Nash,
Newcomb, Nickerson Norton. Cakes Of
Auburn, PARROT, Patterson, Peaslee, Per-
kins, Pettengill, Pooler, Poor. Potter. Pur-
inton, Putnam of Danforth, Putnam of
HouIton, Randall, Reynolds. Rice, Ross,
Ruggles Sargent. Savage. Sewall Shack
ford of Harrington, Shackford of Poland.
Shaw. Smith of Hartland, Smith of
Presque Isle. Snowe. Stearns, Slower,
Sturgis. Sutherland SWEET, Tapley. Tar
tire, Thomas of Ifarpswell, Thomas of
Topsham. Thompson of China. Thornton,
Trip. Twamhly. Watson, Weathcrbee,
Weeks. Wentworth. White, Wiliams--110.
S:-Bodwell, Coburn, Farnsworth of
Pembroke, Howe. Nelson, Cakes of Mil
ford ThurlOw, Warehouses;.
BSENT:-Abbott, Albert, Allen of San
ford Barker, Cook. Cordwell, Daniels.
Dodge, Kurdish, Hall. Hayes. Hill of Bux-
ton, Kelley, Kimball. Knowlton of Cam
den, Libby Of Mechanic Falls Little. May
bury, McFaul, Mcnamara, Morrison,
Page of Drew Pl, Page of Skownegan,
Pike, Smith of Madison, Spear, Sweeney.
Taylor. Thompson of China. Todd, Trem-
blIy-5l.
So the motion was agreed to, and the
report was refused acceptance.
University of Maine.
Report of the committee on appro-
priations and financial affairs, report
ing Ought to pass" in a new draft, re-
solve in favor of the trustees of the