Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1904-02-10

There is one other interesting fea-
ture i'm this matter of town debts. and
i involves a confusion of understand
.ng on the part of various municipali-
les which the state assessors hope to
lear un before they make another re-
port. When Maine was established as
4 state. a certain portion of every
township was set apart for school pur
cOSeS and the proceeds from the sale
of these lots, or the proceeds from the
sale of its timber and grass, if the lot
was unsoll by the land agent were
set apart in the State treasury, as a
school fund for the perpetual use OF
this township when it became incor-
oorated as a town or organized as a
plantation. When the township be
came SO Incorporated or organized this
fund, with accrued interest. was turned
over to the town. the income only to be
used for the support of schools, in ad-
dition to the annual appropriation as
required to be raised by law, of 80
cents per inhabitant.
Now it has come about that in many
of the towns. which were supplied with
such d school fund. upon their incOr-
poration, the principal has been used
for other purposes. but the towns still
annually tax themselves an amount
equal to the interest on such principal
and this, interest is devoted to school
purposes. In many instances these
school funds. whether used or invested
by the town for school purposes or
whether expended for other purposes
as mentioned above. are classed rs a
70 Iat, thn1u1 a - fact
it is a sum which the town owes no.
body except itself. ana which will
never have to be paid. No doubt. ii
the number Of towns, which class this
school fund as town debt. could be
ascertained. the number of Maine
towns actually in debt would be very
materially reduced. In the blanks to
be sent out to the various towns the
coming year. the assessors VIII ask
the municipal officers to make Il re-
port as to this school fund, and as to
the town debt exclusive of such a
school fund.
George F.. Files of Lewiston, for
many years principal of the Cony
High school in this city was visitor
at the Capitol, Tuesday.
Miss Sadie F. Lord of the Adjutant-
Generals Office, is at her home in Bel
grade for few weeks.
Commissioner l.. 4. Carleton will
drive over to South China, today. to
address the Kennebec Pomona Grange
upon The Relation of the Fish and
Game Laws to Agricultural
The following named new corpora
lions have filed certificates of organiZa-
ton here:
Pacific Tube Works organized at
Portland, for the purpose of manu-
featuring tubes, pipes, etc. with S1,O00,-
0O0 capital stock of which nothing is
paid in. The officers are: President,
Josiah c. Ward of Portland; Treasurer,
Walter Fl. Thorpe of Boston.
North American Mining and
Development Company organized at
Auburn, for the purpose of doing
mining and real estate business with
81 ,000.0O0 capital stock of which nothing
is paid in. The officers are: President.
Geo. Z. Mccain of Auburn; Treasurer,
a. +. Verrill of Auburn.
Jones and Rice Slate Company
organized at Kittery, for the purpose of
doing a quarrying business with 100000
capital stock of which nothing is paid
in. The officers are: President, Francis
J. Sutton of Kittery: Treasurer, Percy
l.. Andrews of Kittery.
Clifford Jennison Company organ
lied at kittery.. for the purpose of do
ing commission business. with $4,000
capital stock of which nothing is paid
in. The officers are: President. Horace
Mitchell of Kittery; Treasurer, A. NJ.
Meloon of Kittery.