The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-02-07
PREPARING A NEW TAX BILL.
IT rs EXPECTED THiT TT WILL
RAISE OTER 5000 900.
The Bill Taxes stock Transfers In the New
YORK Strickland Other Exchanges and
in Itncket shops Another lilll Drawn
Affecting Thls City's water supply.


in Itncket shops Another Bill Drawn
Affecting Thls Clty's water supply.
ALBANY. Feb 6-1ho Taxation com
rnttees Of The two houses have about COM
peted the preparation Of bill which
il aimed to raise nearly all Of the additional
Indirect revenue needed TO make the re-
ceipts Of the State Treasury more than equal
the States expenditures each year.
This bill was accepted at the conference
Of the Republican leaders In New York
city last week IL taxes stock transfers
on the New York Stock Exchange and
other exchanges aud in bucket shops,
and will. il is hoped, raise over 100000
annually.
II seems to be tho general opinion among
Republican legislative leaders that the
stock transfer tax will be the most popular
with the people. but there seems to be
some doubt IA 10 whether the bill can be
20 framed as to insure the collection OF the
tax.
Other tax subjects discussed at the con-
ference in New York were a proposed in
crease OF the liquor license in places aside
from the first, second and third class cities
and 10 make the tax in the Westchester
the same as in the rest of the city, 81 200.
A proposition was also discussed to amend
the Odell law taxing premiums Of life
insurance companies, which it was ex-
tected would raii-o $4,000 a year so as TO
make sure that hereafter the tax can pe
collected both upon old and new premiums
Caucuses were held tonight 10y the Re
publican and Democratic members OF the
iagislntlre to select a Regent TO succeed
n A I II Albany.
term has expired The Republicans VIII
vote for Judge Loylan l.. Shedden Of Platts-
burg and the Democrats for Richard H.
Hand Of Elizabethtown, Essex county ana
New York city. Mr. HAND Is president Oh
the State Bar Association
Another bill in the interest OF Westches"
ter county and to affect New York city 3
water supply il before the Legislature.
Assemblyman Wainwright, who repre-,
cents the Bronx district introduced Dill
which gives any city, town or village III
New York city the right TO tap the water
pipes of New York city running through
the county and to use the water Tor their
own purposes.
New York city is to be recompensed for
this use of water at n rate TO he agreed
upon by the county authorities and the
Board OF Estimate and Apporl onment.
In case they cannot agree commission
is to be named by Supreme Court Justice
to fix rate. No connection with the water
mains can be made until New YORK city
a erees TO il, or condemnation proceedings
are started
The bin desired by Timothy L. Wood
ruff and other wealthy Adirondack land
owners. providing for the wping OF Hamil-
ton county off the map, was introduced
by Assemblyman Steele (Rep. Herklmerl
toni ght. The spacious tract Of timber lands
p nd private forest preserves IL divided
between Fulton. Herlumer and Franklin
counties The wealthy New Workers object
to paving an annual tax for the support
Of an independent county government for
such sparsely settled county.
AssemblyInan Cowan introduced a bill
providing that d telegraph company can
be served with a summons in an action
by delivering a copy of the summons TO
any Office, manager or telegraph operator
employed by the company and residing
in the county.
To the surprise Of many, without dis
senting vote the Assembly tonight passed
Assemblyman Merritt's resolution calling
upon Congress TO pass President Roose-
Velt's railroad rebate bill. The resolution
now goes 70 the SENATE,
Senator Hill tonight again introduced
two constitutional amendments which
passed the last Legislature and which
must pass this year before they can be
submitted 10 the people. Ono provides
that State bonds may be issued for period
Of fifty instead of eighteen years, and
another that an upstate Justice, desig
mated TO the Appellate Division in New
York or Brooklyn, may do supreme Court
Justice work in his own district.
Senator Raines put in one of those blanket
railroad bills which heretofore have caused
so much comment, IL extends for period
OF five years from Jan. next, the time in
which steam railroads under construction
may he completed
Senator Brackett put In two Insurance.
bills which he has pressed for passage
at previous sessions OF the Legislature.
They apply to life insurance companies.
more particularly TO companies doing an
Industrial business One bill provides that
the agent Of an insurance company shall
not be deemed the agent Of the insured,
and the other provides that policy OF in
surance shall contain a copy of any paper
referred to in the insurance contract which
L. not "a ra RI tbareof.