The Penn's Grove record., 1906-01-19
JERSEY LEGISLATURE
Statehouse at Trenton Bursting
With Bills of All Kinds.
REFORM TIT

Administration's Equal Taxation
Measure Introduced by Majority
Leader Perkins-Martin a
Life Insurance Observation-Disclosures
Limited Franchise Acts.
Especial Correspondence
Trenton, Jan. 18. The product Of
the second week in the legislature-the
first real week of the session-was a
mass of bills of every description, num-
bering seventy in all. Many were re-
form measures introduced both by the
administration party and the Colby
faction. Reform was the slogan of the
legislators. There was a bill to regu-
late the manner of taking fish from the
sea, one to provide a way to put men
in the United States senate, an act to
give the people of New Jersey purer
drinking water and another to III
down their liquor allowance. After
having introduced measures to reform
everything in sight the solons breathed
a sigh of relief and went home for the
week Tuesday at moor. They will
come again to Trenton next Monday
night to give the legislative mill an
other turn.
There were four equal taxation bills
introduced, four limited franchise
measures as well as five bills for the
prevention Of corrupt practices in New
Jersey elections and a joint resolution
for the investigation Of insurance COM
panies and allied concerns.
Of the equal taxation bills two-the
administration bill and q Gloucester
county bill-provide for the taxation OF
first class railroad and canal property
at local rates, the income to go to the
state for state and school uses. The
other two equal taxation bills-one the
Colby idea and the other g hudson
county bill-provide for the same man.
ner Of taxation for this class Of prop
erty, but the money is to go to the tax
ing district in which the property so
taxed is located.
Equal Taxation Bill.
The administration equal taxation
bill, which was the first bill presented
Monday night and which was put in by
Majority Leader Randolph Perkins Of
Union, provides as follows: That all
railroad and canal corporations shall
report to the state board of assessors
on or before March 1 of each year a
statement or schedule showing, first,
the amount of capital stock authorized
and the number of shares into which
such capital stock is divided; second,
the amount of capital stock paid up;
third, the market value, and, If no mar
ket value, then the actual value Of the
shares of stock; fourth, the total amount
and the details and particulars of all
Indebtedness. On or before the list of
November In each year the state board
of assessors shall value and assess all
the above described property, includ-
ing the franchise, and upon such valua-
ton and assessment shall compute the
tax upon. the entire assessed valuation
of the property of each company and
upon which each company shall pay to
the state for general state purposes a
tax at the average rate of taxation"
The average rate shall be computed by
every assessor certifying to the state
board the value of all property, real
and personal, located in his taxing dis
trict other than railroad and canal
property, but including therein the as
sessed value Of such property as re-
ported to each assessor by the state
board. Such assessor shall also certify
and report the tax rate in said taxing
district for the year. The aggregate
value Of all the property, real and per-
sonal, so certified shall be the "aggre-
gate value Of the general property Of
the state" Multiplying the value Of
all the property in each taxing district
by the rate therein shall be deemed the
total taxes" Of the taxing district, and
the aggregate of such total taxes" so
ascertained shall be deemed the Gag
gregate taxes of the state" Dividing
the aggregate taxes" by the "aggre-
gate value" of the general property in
the state shall determine the average
rate of taxation" for the year. Any
assessor failing to make return shall
be liable to a fine of $50. The bill was
referred to the committee on judiciary,
of which Leader Perkins is chairman.
The other equal taxation bills, as ex-
planned, differ chiefly in the method Of
distribution of the income from the
taxation of railroad and canal proper
ty. The Gloucester bill was presented
by Mr.. Cattell and embodies Senator
Avis idea Of equal taxation, the Hud-
son measure was introduced by Mr..
Calvin, and the Colby measure was
put in by Mr.. Martin of Essex, Senator
Colby's lieutenant in the house. Hear
ings will be given by the judiciary
committee on the Perkins, Calvin and
Colby bills next Tuesday and Wednes-
day.
An important measure came from
Mr.. Martin of Essex on Monday night
in the shape Of a joint resolution pro-
viding for the investigation Of the af-
fairs Of life insurance companies, trust
companies, savings banks and other
banks doing business in New Jersey.
The resolution is based on the recent
disclosures Of the misdoings of the large
financial concerns in New York. A
similar joint resolution was introduced
in the senate by Senator Colby. Each
resolution also provides for the inves-
tigation Of the state banking and in
surance department.
To Limit Franchises.
The four limited franchise acts pre-
scented in the legislature on Monday
night were by Assemblyman Martin
and Senator's Hillery, Colby and Avis
respectively. The Hillery bill is an ad-
ministration measure and limits fran
chises to twenty years except when
otherwise decided by the voters at a
special election. MI. Martins act lin
its franchises to twenty-five years; that
Of Senator Colby limits franchises to
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