The Barre daily times. (Barre, Vt.) 1897-1959, 1908-12-14
RAILROADS
TAX TOO LOW
Thinks the Vermont House Of
Representatives
IMPORTANT BILL FAVORED
It Proposes to Increase the Tax on Rail
roads to si2.so on the thousand
Senate Did Not Meet Until
Afternoon To-day.
slato Honse. Dec. ~.


in diligence by giong into session at ten
o'clock this morning, while the Senate
did not convene until this afternoon.
The House in its early Monday session
passed nine bills, killed three, and or
dered two others 20 third reading.
Mr.. Howe Of st. Johnsbury got two OF
his bills advanced to third reading
that affect the railroads in no small
degree. The first, House bill 1858, in.
creases the tax on railroads from $500
on the thousand 10 $3.50 on the thou.
sand and makes the computation on the
appraised value. The second repeals the
section giving the railroad the option TO
pay taxes on the gross earnings. Both
Of these bills came 10 the House on adj
verse reports from the committee on
railroads.
Mr.. Howe Of 81. Johnsbury inquired Of
some member Of the railroad committee
If it were not true that the report Of
the tax commissioner on taxation rates
showed that the railroads were paying
less than one-half the average rate OF
taxation on property in the state, Mr.
Williams OF Newport explained that the
committee had nothing TO show whether
the railroads were paying their just part
of the taxation or not and that he
thought the bill should have been re-
ported to the taxation committee He
did say, however, that the corporations
were taxed to meet the state expenses
and that the committee reported it I'M
fayorably, as they did not have evidence
that there was need of higher rate
Mr.. Rowe Of st. Johnsbury stated that
the report Of the commissioner of taxes
showed that the average rate in the
state was $3.50 on the thousand and
that the rate the railroads were paying
was $500. Mr.. Tilden OF Mortified be-
heyed the bill should pass aud that
there Vs. no good reason why the rail-
roads @buld not pay the same rates on
a thousand dollars worth Of property as
anybody else.
Mr.. Davis of Springfield called atten-
tion to the fact that the committee on
ways and means had notified the House
that they must 60 light on appropria-
tions. He didn't believe it was right
TO threaten the state with a direct tax
and let the railroads 60 at half price.
House bill 354 also passed, there being
but a few dissenting votes in comparison
with those voting for the measure.
One important measure, passed this
morning, was III. sos, which allows saw
ings banks and savings institutions to
pay dividends not TO exceed 4 per cent.
il they hare surplus fund Of five per
cent. of their deposits. Mr.. DaBoer i'm
quired If the committee had looked into
the matter TO see If this per cent. Of
surplus guaranteed safety to depositors,
and Mr.. Davis Of Springfield said that
the committee had looked into the ques-
tion and believed that il did
MIR. Howe Of st. Johnsbuy said that
in order to pay four per cent. now,
several strong savings banks had to have
ten per cent. in surplus, and some Of
them did not quite come up to this. The
trust companies had no restrictions and
he did not believe that the savings banks
should be prevented from paying this
per cent. ii they could do it and were
willing. Mr.. Bacon of Hartford believed
that the safety OF the public demanded
d 10 per cent. surplus and that the banks
in this state could not afford to pay four
per cent.
The bill reads as follows:
after the accumulation of surplus
fund Of five per cent. of their deposits
and after adding to cush surplus fund
not less than one eighth Of one per cent.
Of the average amount Of their deposits
for the preceding six months, the trus-
tees may declare from the net earnings
such semi annual dividends, not exceed
ing two per cent, as in their Judgment
the assets of the banks and the net
income thereof shall warrant"
House bill l0T was passed. This bill
came in an amended form from the tenn
perance committee IT is Mr.. Loeklin's |
BILL Mr.. Howe of Bennington stated
that it is a hard bill on the holders OF
second class licenses and that it means
that they can do little busi |
ness out Of their own town. Somebody |
suggested that Mr.. Locklin was absent |
and that it would be good plan to take |
up the bill when he was present, but Mr.. |
Howe of st. Johnsbury suggested that |
The speaker had warned the members |
that the bills would be taken up ON Mon |
day in their order, whether the authors |
we're present or not
The bill allowing interchange of mile |
age book coupons with this state on /
roads charging the same price was passed |
and the bin which allows fishing Of pick |
rel through the ice According to this |
bill, no one person shall have more than /
len set lines nor shall take more than
ifteen pounds in one day.
Read Third Time and Passed.
IT, 534, as amended, an act to incor.
'erste the village of South Royalton.
Fl. l07, as amended, relating to sales I
If intoxicating liquor by licensees Of the
iecond or seventh class
II. 5e2, an act in amendment Of GER
ain sections Of the public statutes, re-
sting to the taking Of land and water
ly railroad corporations.
II. Sos, relating to dividends by saw
ngs banks and savings institutions.
IT, 57z, relating to forest FIRE vardens.
II. 577, relating to the taking of pick
rel
II. 57s, relating to fishing.
II 57e. an acting requiring interchange
# mileage tickets on railroads.
y $50. relating to secret societies in
'ublie schools.
Third Reading Refused.
Il. III, to establish q state beard Of