Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1909-02-03

Republican caucus Tuesday night, af-
ter a thorough discussion of all phases
of the situation to adopt three propo-
sitions recommended by the commit
tee of five. appointed at a previous
caucus, in regard to the prohibitory
law
the first measure recommended was
the passage of bill authorizing the
Governor to remove delinquent county
attorneys and appoint their successors
from the same political party to which
the officer removed belonged. The bill
as recommended by the committee at
this caucus did not have any referen-
dunn attached.
The second recommendation of the
committee adopted was the submitting
of a constitutional amendment author
izing the Governor to remove delin-
quent sheriffs and appoint their sue
cessOrs from the same political party
to which the officer removed belonged.
If this proposed constitutional amend
ment receives the requisite two thirds
majority in both houses it is to be
submitted to the people in September
next
The committee further recommended
and the caucus voted to repeal the
Sturgis law, such repeal to so into eff
feet upon the ratification Of the pro-
posed constitutional amendment, pro-
viding for the removal o. delinquent
sheriffs.
After voting unanimously to accept
the report of the committee and TO
stand by the action taken the caucus
.i,,+o alyn,,
Weeks, who was the presiding officer
Of the caucus. was authorized to make
statement in regard to the acts OF
the caucus to the representatives IF
the press, which he did, covering the
ground already mentioned. The entire
program is understood to have the APP
prevail of Governor Ferndld.
But Il small number of new measures
have been introduced in the House.
and Senate during the past few days
and but little interest is manifested
in the daily work of the two branches.
It is expected. however, that interest
will revive in the House today when
the question Games up Of reference OF
the 3. d A. rebate bill to the supreme
court 1OT ali ODlliiOll III ItSoitt w rs
constitutionality, yet there is posi-
bility that this matter may be referred
to a committee without debate.
In both branches Tuesday only rou-
tine business was transacted and moth
ing more out of the ordinary developed
than a slight difference of opinion as
to what was the proper committee 10
which bill should be referred.
In the Senate Tuesday morning Sell
ator Reynolds of kennebec introduced
an act to regulate the rate of dividends
and interest on savings deposits The
act provides that no savings bank
trust company or trust and banking
company. organized under the laws of
Maine shall pay dividends or interest
on deposits in excess of three and one
half per cent in any one year. When
the reserve fund of any savings bank
or the surplus of any trust and bank
ing company equals 10 per cent of the
average deposits of all classes in the
six months previous to declaring a
dividend all net profits not otherwise
divided, shall in the case of savings
banks. and may in the case of trust
companies and trust and banking COM
panics. be divided rateably every three
years among the depositOrS of one, two
and three years standing as extra divi-
dendS. 1t is provided, however. that
all losses and investments OF doubtful
value and premium accounts must
have first been charged off against
such reserve or surplus to the salts
action of the bank examiner. 1t is
further provided that no savings de-
pcsit in any of the aforementioned in
stitutions shall be subject to Il muhi
cipaI tax, and that no savings deposit
in any National bank in Mama On
which interest not exceeding three
and one-half per cent per annum Is
paid, shall be taxed. Under the provi-
sions of the act the cashiers of all
National banks in Maine shall annual
ly on April l submit in writing, under
oath, to the assessors in the munich
paiities in which the depOSitOrs reside.
a list showing the name of all deposit
tors and the amounts to their credit
on which interest in excess of three
ard one-haif per cent per annum Is be-
ing Eaid. and such deposits shall be
taxed to the owners thereof in the
same manner and at the same rate as
other personal property is taxed. In
a case of nonresident depositors this
information is to be furnished to the
assessors of the city or town in which
said bank is located. The act further
provides that no tax shall be assessed
on such deposits where the dividends
in excess of three and one half per
cent consists only of extra dividends
paid not oftener than once in three
years, as provided for in the bill
Senator Baxter of Cumberland intro
duced an act amending Section 81 nt
Chapter 81 of the Revised Statutes, SC
as to make it possible for the bar as