The Republican journal., 1909-04-08


debts and running expenses equivalent
to five per cent per annum on an amount
OF capital stock equal to one-half of its
entire funded debt so that said sub
lows:
Fifth: In bonds of any corporation
other than railroad and water COM
panies, incorporated under the authority
this state the business for which such
corporation was created, which is earn
ing an amount in excess of fixed charges
interest on. its debts and running ex-
annum on an amount of capital stock
equal to one-half of its entire funded
deot.'-tApproved February 19)
Chapter IL.
An Act to amend the banking laws of
the State of Maine, and particularly
Section one Of Chapter forty -eight OF
the Revised Statutes, by changing the
official designation of the head of the
banking department, and by more
clearly defining his powers in relation
to expenses and to the employment of
clerks. ~
Section one of chapter forty-eigbt Of
the revised statutes is hereby amended
by substituting for the word examiner
the word commissioner and by adding
70 said section the following: wherever
the words bank examiner now appear
IN the statutes of the state, they Shall
be construed to mean bank commission
er. The bank commissioner shall be paid
me salary now or hereafter provided by
law for that office and his necessary
travelling expenses and the reasonable
and necessary expenses of his office, the
payment of which shall be made sub
Jcct to the approval of the governor and
council and shall be authorized to en-
ploy at the expense of the state, one or
more clerks as the business of the office
may require, the amount of their COM
pensatlon to be subject to the approval
OF the governor and council, and one of
whom may be designated as deputy
bank commissioner, The present bank
examiner may serve out the unexpired
term of his office as bank commissioner
without new appointment SO that said
section as amended shall read as follows:
section l. The governor with the adj
vice and consent of the council, shall
appoint bank commissioner, who shall
hold his office for three years. subject
to removal at any time by the appoint
ing power. and shall not during his con-
tlnuance in office hold any office in any
bank in the state. Wherever the words
bank examiner now appear in the stat
utes of the state, they shall be construed
TO mean bank commissioner. The bank
commissioner shall be paid the salary
now or hereafter provided by law for
that office and his necessary travelling
expenses and the reasonable and neces-
Saly expenses of his office the payment
of which shall be made subject to the
approval of the governor and council,
and shall be authorized to employ at the
expense of the state, one or more clerks
as the business of the office may require,
the amount of their compensation to be
subject to the approval of the governor
and council and one of whom may be
designated as deputy bank commissioner.
The present bank examiner may serve
out the Mnexpired term of his office as
bank commissioner without new ap-
pontment '-(Approved February 49,
Chapter 10.
An Act to amend Chapter eighty-four
of the Public Laws of nineteen hundred
and seven, in relation to Employment
Section five of chapter eighty-four of
the public laws of nineteen hundred and
seven is hereby amended by adding
thereto the following words, Nor shall
hereof, apply to teachers agencies SO
That said section as amended, shall read
as follows:
Section S. This act shall not apply to
the provisions of sections two and three
hereof apply to teachers agencies -
Approved February 49,
Chapter IA.
An Act to amend Sections twenty-seven
and twenty eight of Chapter nine of
the Revised Statutes, relating to Taxa
ton.
Section l. That section twenty-seven
of chapter nine of the Revised Statutes be
and hereby is amended by inserting
therein after the word vessels, wherever
the same appears, the words and
barges,' and by adding to said section
the words the provisions of this section
shall not apply to steam barges,' SO that
said section as amended shall read as
follows:
Section q; All sailing vessels and
laws of the United States or foreign
governments, owned wholly or in part
by Inhabitants of this state. shall be
taxed upon an appraised value of twenty
doll fr,,
sells and barges completed on or before
the first day of April of each year
Vessels or barges one year old or more
shall be reduced in value at the rate of
one dollar ton a year for each addi-
tional year of age. until they shall have
reached the age of seventeen years, %at
and after which time said vessels and
barges shall be taxed upon an appraised
mage. The provisions of this section
shall not apply to steam barges.'
Section 2 That section twenty-eight
of chapter nine of the Revised Statutes
be and hereby is amended by inserting
after the word vessels in the first line
thereof, and after the word vessels the
thereof, and after the word vessels the
last time it appears in the fourth line
thereof, and after the word vessels in
the sixth line thereof, the words and
vessel in all the other Places where it
appears in said section the word or
barge and by adding to said section the
words the provisions of this section
shall not apply to steam barges,' so
that said section as amended shall read
as follows:
Section 49, Vessels and barges when
rebuilt shall be taxed on the same valua-
ton as vessels and barges Of one-half
the age of such rebuilt vessels or barges.
A vessel or barge shall be regarded as
rebuilt only on an expenditure being
made of not less than forty per cent of
the cost of such vessel or barge if built
entirely new. Vessels and barges if re-
paired to the extent of twenty-five per
cent of the cost of such vessel or barge
if built entirely new, shall be taxed upon
the same valuation as vessels and barges
of five-eighths the age of such repaired
vessel or barge. The provisions of this
section shall not apply to steam barges.
--(Approved February 49,
Chapter IS.
An Act to provide for the purchase Of a
farm on which to conduct scientific in
vestigations in Orcharding.
Section l. The Maine Agricultural Ex-
pertinent Station, in addition to the in
vestigations now conducted by it, shall
conduct scientific Investigations in or
charding, corn and other farm crops, and,
to this end, there shall be purchased,
in the name of the state, stocked and
equipped for the use and benefit Of said
station, suitable farm, situate, as the
committee on selection and purchase
hereinafter named shall determine, in
any counties of the state of Maine.
Section q Augustus w. Gilman, of
Foxcroft, Charles S. Pope, of Nanches-