The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1905-01-24
BILL is AIMED
, AT THE USURERS
House Measure Sets Limit of
12Per Cent.
is INTRODUCED BY JOSEPH
FIVE OTHERS PRESENTED AT
Yesterday sEssIvN.
is INTRODUCED BY JOSEPH

Representative Joseph of Salt Lake
introduced a bill in the house yester-
day afternoon which, if made a law. is
destined to- play havoc with high in
terest-charging concerns of every char
acter in the state. The measure is
aimed especially against loan COM
panles and pawnbrckirg establish
ments Of Salt Lake. which. in the alb
sence of a contract, have often exact
ed interest more than sufficient to eat
up the principal in one year.
Joseph's bill (No. sd is entitled AN
act fixing the legal rate of interest that
may be taken or received in the alb
senCe of agreement or contract within
the state of Utah. and to provide RENE
dies in case illegal interest is taken.
reserved or contracted for; and TO re-
peal section 124l, Revised Statutes. 1898,
entitled. Interest "
The bill leaves the legal rate of in
terest that may be named in a contract
at per cent. 1t provides that in the
q bsenCe of a contract not more than II
per cent per annum may be charged
In case interest in excess of this figure
is reserved. the debtor can obtain jUdg-
ment against the lender for the entire
aggregate interest. One-haf of the
sum recovered, the bin provides. shall
be given to the county school fund and
One-half to the debtor.
The bill was referred to the commit
tee on banks and banking.
High Pay For Experts.
Representative Kinney of Salt Lake
introduced yesterday, by request, a bill
entitled, AN act to amend section 1894,
chapter >, title 90 Revised Statutes,
1908, relating to the per diem and mile
age of witnesses in the district court
and before d grand jury The bill (No-
5S) provides that in mining cases eX-
pert witnesses shall be allowed So per
day instead of the usual witness fee of
- aN Of Nanu -.
Other bills were introduced in the low
e. house yesterday afternoon as fol-
lows:
II. B. No. 80 CThompson)-An act
providing for the liability of railroad
, companies for stock killed by operating
railways. and amending section 446, Re
NiSed Statutes. 1898. Railroads and
common carriers.)
II. B. No. So CKinney)-An act reIat-
ing to certain contracts for the condi-
tional sale. lease or nire of railroad and
street railway equipment and rolling
stock and providing for the recording
thereof. CRailrOads and common car
Tiers-)
IL. Is. No. 81 CKinney)-An act to
amend chapter 26, Session Laws 1901,
an act entitled, AN act to codify and
revise certain laws of this state pro-
Niding for the formation of corpora
tons for the purpose of purchasing,
constructing. acquiring, owning, main
tanning, operating or extending rail-
road lines. franchises, properties and
9ppurtenances. authorizing the issue
by such corporations of stocks and
bonds and other securities, and the
making of deeds of trust. mortgages.
and defining certain rights and powers
of such corporations; and 10 repeal the
following named acts and parts of acts,
namely: Chapter l. Laws of Utah 1899:
chapter II. Laws of Utah. 1899: chapter
=, Laws of Utah. 1901; chapter ,, Laws
of Utah, 1901; sections Ash 432, 49, -4S5
and Az, Revised Statutes, 1898. APP
proved March :, 1901, and to repeal sec
ton s thereof as the same has hereto
fore existed. Railroads and common
Carriers.)