Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1909-04-05


the secretary of state of this state, that
said percentage has been so pald IN ana
expended i'm addition to the amount OF the
bonded debt; provided, further, that IN
lieu of the foregoing certificate such
bonds may be certified as legal for the
purpose hereof, on satisfactory PROOF 70
the bank examiner that annual oiv is, nus
in amount equal to five per centum per
annum on an amount of capital STOCK
equal to one-third of the bonded debt
has been earned and paid for per1od on
five wears next prior thereto; and the
persons making such investigation ana
report may charge and collect in ADDITION
to any compensation now provided by
law for their regular of1clal duties, red-
sonable compensatioR~fo such service
and all expenses attendant thereon, IN
GLIDING the employment of experts, the
same to be paid by the railroad company
seeking to make it's bonds legal invest
ment under this section, whether the
same are admitted or not. No bonds
secured by an open mortgage l ,, sha n1or 9e
gage provides that the total amount OF
bonds certified and outstanding under II
shall at no time exceed seventy-1ve per
cent of the amount OF casn eXpeHoeo
upon the road.
Section 2. Said section twenty-three of
the revised statutes is further amended
by striking out all of subdivision ninth
and substituting therefor the following:
Ninth: All investments having liked
maturity shall be charged and entered on
the books of the bank at their cost to
the bank, or at par when premium rs
paid The bank examiner may require
any investment to be charged down TO
such sum as in his judgment represents
it's fair value. He may at any time call
for report of the financial condition or
any corporation Offering, or likely to
offer, it's bonds, stocks or notes to any
savings bank in the state. or whose notes
are held by any such savings bank. as
much in detail as he may require. Verl-
fled by the oath of such officers of SAID
corporation as he may specify. He may
communicate any such report, or an an
stract thereof, to the officers of any or
said savings banks. If such report Is not
furnished the bank examiner within the
time specified in his call therefor, or
within such extension of time as ne may
grant, the bonds, stocks and notes OF
such corporation shall thereupon cease 20
be legal investment for savings banks
under this section, and shall not again
become a legal investment until report
in all respects satisfactory to the Dank
examiner is furnished. Any of1cer OF a
corporation who wilfully makes false
report hereunder and any oflcer, trustee.
director. clerk or employee Of a savings
bank, trust company or loan ana build
ing association who wilfully and Know
ceive or mislead the bank examiner. or
any officer or representative of the state
banking department, as to the true con-
dition or value of any of the investments
of such savings bank trust company or
loan and building association, or Wllfully
conceals any material fact connected
Herewith shall be punished by line not
prisOnment not exceeding two years, or
by both such fine and imprisonment -
Approved March 26)
Chapter $50.
An Act to amend Sections fifty-eight and
fifty-nine of Chapter nine of the Re
vised Statutes regarding Roads in In
incorporated Townships.
Section l. Chapter nine of the revised
statutes is hereby amended by repeating
fiffV-eiplt
inserting in place thereof the following:
Section So. Said county commissioners,
in September, annually, by one or more
of their board, shall make an inspection
of all county roads and other roads origi-
nally located as town roads in the unln-
corporated townships and tracts of land
in their counties, and shall thereupon
make an estimate of the amount needed
to put them in repair. SO as to be safe
and convenient for public travel, and
assess thereon not exceeding two per cent
of the valuation thereof, and shall assess
on the county the balance of said amount
if said assessment of two per cent is not
sufficient to properly repair said roads;
and they shall make as many divisions
as are equitable, conforming as nearly as
is convenient to known divisions and
separate ,ownerships, and shall assess
upon each sum proportionate to the
value thereof; and cause so much thereof
as they deem necessary for the purpose
aforesaid, to be expended on said roads
within one year thereafter. which assess
ment shall create a lien thereon for the
payment thereof. They shall make such
assessment by the first day of each
an agent or agents, skilled in road
building. not members of their board, to
superntend the. expenditure thereof who
shall give bonds as provided in section
fifty-six: and they shall publish list of
townships and tracts of land SO assessed.
with the sums so assessed on each. and
in some paper printed in the county
where the lands lie, three weeks success
sively, the last publication to be within
three months from the date of the assess
ment.
Section 2. Section fifty-nine of chapter
nine of the revised statutes is hereby re-
pealed.-(Approved March 26)
Chapter ISL.
An Act to amend Chapter eighty-three of
the Public Laws of nineteen hundred
five. relating to Contagious Diseases
among Cattle.
Section /. Section two of chapter
eighty-three of the public laws of nine
as the last clause thereof the following:
except in cases of cattle that have been
so tested and certified within twelve
months previous to such sale, or calves
under four months Old
Section ,. Section four of said act is
hereby repealed and the following section
enacted as section four:
Section a.. Whoever violates any pro-
vision of the three preceding sections
shall be punished by a fine of not less
than twenty-five dollars nor more than
fifty dollars for each offense. '-(Approved
March 26.)
Chapter 1852.
An Act to amend Sections forty-two and
forty-four of Chapter eight of the Re-
vised Statutes as amended by Chapter
one hundred and sixty-seven of the
Public Laws of nineteen hundred and
seven relating to taxation of Express
Companies.
Section l. Section forty two of chapter
eight of the revised statutes, as amended
by chapter one hundred and sixty-seyen
OF the public laws of nineteen hundred
and seven, is hereby further amended by
striking out, in lines eight and ten of
said section, the words two and one
half and inserting in place thereof the
word three. SO that said section as
amended shall read as follows:
Section AZ. Every corporation, COM
pany or person doing express business on
any railroad, steamboat or vessel in the
state. shall. annually, before the first day
OF May, apply to the treasurer of state
for license authorizing the carrying on
of said business and any such ,corpora-
.loIi, company or person, neglecting to
make application for license as afore-
said, forfeits fifty dollars, to be recovered
by action of debt in the name of the
state; every such corporation, company
or person shall annnally nav to tho frao