The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-04-04
TAX BILLS TANNED THROUGH.
THE SENATE PASSES THEM NJ 4
PARTY TOTE.
They Impose = Tax on stock Transfers and
ON Mortgages-The Republican and
Democratic Senators From This City
Protested Against such Haste.


five mill annual tax on mortgages.
These bills were TANNED through the
Senate by party vote at the behest Of
Senator Raines. the Republican leader,
despite the protests Of the six Republican
Senator'S from New York and Brooklyn.
who asked that their passage be postponed
until the sentiment which il being worked
up in New York against these measures
might have chance to crystalline and that
the Legislature might be made aware Of
the general and strong opposition that eI-
lists In New York city against those pro-
posed new forms Of indirect taxation.
1t has been estimated that the State
Treasury will get an additional revenue
each year from these two measures Of
% 900 900. about 81 900 900 from the stock
transfer tax and about 81 900 900 from tho
mortgage tax All the stock tax will
20 to the State Treasury, but only half Of
the mortgage tax, which it Is expected will
raise between s. 500 coo aud s, 900 600 a
wear. The other half OF the mortgage
tx revenues will go TO the localities where
\ u revenue is raised.
senators Lewis, Raines and White at
tempted TO justify he imposition Of a stock
tax, and their vicws OF what constituted
an equitable tax we're combated by Sena-
tors Elsberg, Grady, SAKE, McCarren and
Page senator ElsbeTg surprised his Re
publican colleagues by saying that he
could not refrain from expressing his re-
greet that the Republican party should
continue 10 enact such legislation.
He said that New York city didn't COM
plain il II had to bear It's burden Of the
State tax, but it did enter an emphatic pro-
test against being singled out to pay more
revenue for the support Of the State Gov
eminent II other communities were called
upon To bear their proportionate share OF
the States expenses there would never be
a word Of protest from New York city.
Senator Lewis chairman Of the Taxation
Committee, declared that in the last ten
years the deposits in financial institutions
in New York City had increa sed 500, 900 900,
while farm values had decreased $50 900, 900.
He said the Republican party had entered
upon policy to support the state Govern
ment by indirect taxation, 80 as TO relieve
the farms and homes Of the people in the
rural districts from the burden OF a direct
State tax.
Senator Raines said that the commission
broker, # he was afraid that the stock
Exchange business would be driven TO other
exchanges outside the State, could reduce
his commission for executing orders from
one-eighth TO ne-tenth Of per cent. He
asserted that the only other serious objec-
ton to the bill that had been made was
that transactions Of the Produce and Cotton
that II this objection was good one the
next Legislature could extend the tax in
those directions
Senator Grady insisted that the whole
policy Of indirect taxation was simply an
effort to make New York city pay nearly
all Of the expenses Of the State Government
for the benefit Of the rural sections where
the Republican party gets the main ortion
Of its votes.
Senator Elsberg declared that these
two tax bills would simply have the effect
Of driving out Of existence the last remnant
Of the Republican party in New York city.
Last December. he said, there was
a good chance that the Republicans could
elect their Mayor in New York city next
fall, but the Republican majority in the
Legislature has made that impossible
now.
The course you are pursuing viii do
nothing but unite the people Of New York
city. without regard to party against the
Republican organization in that city. There
are two things that the people OF New York
insist upon One is that they shall be per-
mtted to govern themselves and the other
is that they shall be compelled to pay only
their lust proportion Of the state tax"
senator Page said that the stock transfer
tax was a direct attack upon business
and il could not he justified under any prin-
ciple OF taxation.
Senator SAKE declared that il was a tax
upon trade and that Il was a serious mistake
from party standpoint 10 pass the bill.
The upshot of two hours discussion
however, resulted in the passage Of the bill
by party vote.
Then the Mortgage Tax bill was taken up.
Senator Cassidy CRepl offered an amend
ment eXempting from the provisions Of the
bill building and loan associations This
vas defea ted by a party vote, senators
Cassidy and Tully being the only Republi-
cans who voted with the Democrats in sup
port Of the amendment. Senator Brown
voted for the amendment but was prevailed
upon by Senator Armstrong. after some
argument and after Senator Raines had
frowned at him, TO change his vote.
The bill was then put on its order OF
final passage and was passed 10y straight
party vote.
Senator McCarren called attention to
the fact that the bill was the only pro-
posed law to impose a double taxation On
real estate upon which there Ia a mort
gage.
The Assembly tonight extended until
April ~ the time in which the Judiciary
Committee shall make its report in regard
TO the investigation into the charges against
Supreme Court Justice Warren i. Hooker.
The committee was directed by its resolu-
ton 10 make its report tonight. Il expects
TO complete the taking Of testimony on
Wednesday. After that a weeks time will
he extended TO Justice Hooker's attorneys
in which TO prepare and file briefs.
/ ne Assembly huNhINN'u W n Nuuu IthA=
ing Assemblyman Sheldon's bill prohibiting
the docking Of horses tails, and Assembly
man Tompkins's bill prohibiting the publica-
ton in any school text book Of an emascu-
lated form Of the Star Spangled Banner.
Assemblyman Agnew's bills amending
the Child Labor law 40 as 10 give the truant
officers and factory inspectors more powers
10 enforce the laws were also advanced 90 a
third reading The provision giving the
trllant officer the right to enter private
dwelling j. to be amended 40 as TO con6ne
il only 10 sweat shops and other dwellings
where children ore employed
Assemblyman Dowlng's bill eIempting
orematories from taxation was passed in
the Assembly
To overcome the veto by Mayor Nc
Clellan to-day Of the bill introduced by
Assemblyman Burnett az the request Of
Comptroller Grout authorizing New York
city 10 acquire the South Brooklyn ferries
COMPTROLLER Grout sent to Mr.. Burnett to-
niVht a substitute bill
The new bill grants authority 70 the
city 10 acquire the ferry property without
the features Of the original Burnett bill
20 which the Mayor objected. The only
limitation imposed by the Grout bill Is that
II the city concludes 20 acquire the property
Of the ferry company and n the corpora
ton or individual owning or operating such
property shall control and operate more
than one ferry, then the Commissioner
a Docks shall acquire the interests Of said
corporation OF individual in all Of heferries
40 owned and operated by H.
The Assembly, passed hssemblyman