The Montgomery advertiser., 1907-07-09
COMER NOT TO
 VETO REPEAL Money-Lending Tax to Be Rescinded. GOVERNOR WILL SIGN BILL Win Not Oppose Will of Majority
 of Legislature. He is sdn of Opinion Tax Is Just One, But VIII Not, So 1t Is Under-
 stsod, Refuse to Approve
 Bill if Passed.
GOVERNOR WILL SIGN BILL

The bill taxing companies lending money in Alabama will be repealed by The Legislature. The Governor will not veto the bill
 Governor Conner is not authority tor that statement. It only lacks confir- nation from him to be certain and pos live. But those who are near the Governor, those whose tips as to the 1ovornor's action can be depended up- pm, are authority for the statement that the Governor will not veto the repeal bill if a. majority of the mem bers of the Legislature favor the bill.
 The bill taxing money loaned in Ala bapa by companies organized in other States, went on the statute books be- cause the Governor favored 1t. It was fought by Senator Teasley and other members of the Legislature who did not hesitate to say that the passage of the bill would throw great obstacle in the way of the development of Ala bama. But the Governors influence was behind the measure and all the op- position could avail naught.
 The bill aroused strong protest from all over the State. The loudest cry against the bill came from the cit- ies and counties which were develop ing, most rapidly. The State Bankers Association met and passed resolutions calling for the repeal of the act, not withstanding the fact that on its pas sage the strongest argument made in favor of the bill was that it would re- move the discrimination against the banks and in favor of the money lend ing corporations.
 Birmingham became more excited over the measure than it ever did over a municipal election. The commercial and industrial bodies of the State met and strongly urged in every form of resolution the repeal of the act.
 The Governor remained firm in fa- voring the measure and in opposing the repeal. Again and again he came out in statements advocating the Justice Of the tax He is still of that position.
 But he will not oppose the will of 8 majority of the members of the Legis- lature if a majority wants the act re- pealed If the bill Is repealed. while he believes that a repeal is a mistake, he will sign 1t.
 The Governor yesterday declined tc deny or confirm this statement When asked if he would not say in his mes. sage that he would not veto the repeal bill if 1t was favored by majority oi the members of the Legislature, the Governor said chat his message woult speak for itself when 1t became public
 Text of Repeating Act.
 The bill, as forecasted in yesterday Advertiser, will be introduced by Sen ator Charles B. Teasley. The full tex of Senator Teasley's, bill is as follows s "A bill to be entitled an, act:
 ITO allow all foreign corporation liable to a charter fee or an annua franchise tax to deduct from their ac tual capital employed. or to be em ployed, in this State, that part of suSl capital consisting of money loaned, SC cured by recorded mortgages on req estate situated in this State:
 "Section 1. Be 1t enacted by tn Legislature of Alabama, That all for ei9n corporations doing business fl