Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1903-01-21
j MAINE LEGISLATURE.
Continued from page u

was, Ordered, That the Committee on
Taxation be allowed clerk.
Bill, An Act to authorize the Frank
lin Company to reduce its capital
stock, had its first reading.
Mr.. MANLEY OF ke-acscc: Mr..
President, Owing to the absence of the
. senator from Androscoggin, Mr.. Wing,
in his behalf, desire to have the rules
tsuspended, and this bill put upon Its
passage at the present time. In 1854
the Franklin Company was Incorporate
ed at Lewiston by a special charter
6f this Legislature. Ii they had been
Iii rporated under the general law
they could have reduced their capital
! stock at any tire they saw fit. They
now desire to reduce their capital
stock A hearing on this bill was had
before the Judiciary, and the same
provision is placed in the bill which is
found in the general law. They are
given no rights or privileges except
what they swould have had had they Or
gained under the general law. This
company is to have a meeting of its
directors in Boston on Thursday, and
they desire very much to have this bill
enacted before they meet. Notice was
given to their stockholders last Sep
TENDER. There is no objection on the
part of the owners. to this act, and it
is such an act, as l have said, that,
were they Incorporated under the gen
eral law, would render action of the
Legislature unnecessary. Being char
tered this action of the Legislature
becomes necessary. / therefore move
that the rules be suspended, and that
the bill take it's several readings and
pass to be engrossed at the present
time.
Mr.. STAPLES of Knox: l would
like to ask, the senator from Kennebec
what the object is in passing it SO
soon?
Mr.. MANLEY of Kennebec: Because
of a directors meeting in Boston on
Thursday. They have 100000 they
have derived from the sale of their
lands which they want to distribute to
their stockholders. They do not mean
to keep it any longer. That is the only
object.
The question being put on the motion
of the sena tor from Kennebec, the mo-
ton prevailed. The bill took it's sew
eral readings, and passed to be en-
crossed.
Reports of Committees.
Mr.. Burleigh for the Committee on
Inland Fisheries and Game, on Bill An
Act for the better protection of Moose
reported that the same ought not to
pass. The report was accepted.
yN Passed to be Engrossed.
Az Act to amend Chapter 143 of the
Revised Statutes relating to Insane
Persons.
An Act to authorize the Franklin
Company TO reduce it's capital stock.
On motion by Mr., Staples of Knox
Senate Document NO 3, An Act to es-
tablish a law uniform with other states
relative to Insurance Policies, was
taken from the table
Mr.. STAPLES of Knox: Mr.. Presi-
dent had this bill laid upon the table
to be printed pending reference. now
move that the bill be sent to the Com
mittee on judiciary, and perhaps {
statement from me at this time woulc
be in order. 1t has been said by some
that this should go before the Commit
tee ON Mercantile Affairs and Insurance
The question involved is constitu-
tionaK question, and it should therefore
be referred to the Committee on Jul
dietary. Those who We're here two
years ago will perhaps remember tha
we had Committee on Uniformity O
Legislation and that it has made it:
report at this session which has beer
referred to the Committee on Judi
ciary. Orc of the recommendations il
4 l,.N in hi
bill that | introduced for uniformity o
insurance policies. For that reason
desire to have it referred to the Com
mittee on judiciary. 1t does seem t.
me it is not a question of insurance
1t is legal question, constitutional
question, and a body of lawyers, seen
to me toAbe the proper tribunal to set
tie that question the Committee OF
Uniformity OF Laws suggested that, il
their opinion that law was unconsu
tutional, and if that be so, and tina
question is to be passed upon, / can
see no reason why it should not go t.
the Committee on judiciary. | APP
preIend, from what l learn, that Their
will be some opposition to it. There Ii
another reason why it should go to TIL
Committee on Judiciary. When th
Insurance Commissioner of this Stat
OF Maine. under AZ salary, comes int
this body and undertakes to Emporium
members of this Senate that this bill
should so to his committee, calls ]
his committee, then | think there is ;
double reason why it should not go t.
his committee, although | say RICH
here that / have most profound re
spect for the Committee on INSURANCE
and not for one moment do 1 impute t.
them any motive but what would b
honorable and right. But, | say thi
being a constitutional question,
question whether the right of trial b.
jury is to be denied or not by tina
bill, that it should go to the Commute
on judiciary, and l hope there will b
no objection to it, and l therefore NOV
that it be referred to the COMMITTEE
on Judiciary.
Mr.. STETSON of Penobscot: MI
President, l hope the motion will no
prevail. We have made appointment
on several committees in this honor
able body, and we have appointed rep