The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1909-01-12
WOULD ABOLISH
ASSESSMENT ON
MORTGAGES
LEGISLATORS FAVOR PLAN TO
GIVE RELIEF TO PERSON BoR-
ROWING MoNEY-ANp LENDER,
ToO-TO LIMIT SESSION.
(From a staff correspondent.)

LANSING, Jan. 12.-The mortgage
tax problem will come up again be-
fore this legislature. Members are
discussing the subject and are con-
vinced that taxing mortgages Is doub-
le taxation and unfair for both t1e
lender and borrower.
That the person borrowing the mon
ey usually must pay this tax in addi-
ton 10 the property tax, incline the
LEGISLATORS toward the abolishing OF
the mortgage tax.
The present mortgage tax law. II
is claimed, is bad for the lender In
that more difficulty arises In placing
loans through the adjusting OF the tax
es on the mortgage TO be given.
Members say public sentiment Is
largely worked up against this class
of taxation and earnest efforts will be
put forth for its repeal and some sub
stitute.
Many legislators want the senate
bill. introduced at IS. changed to 10,
which will limit the session to about
1856 days, during which time the entire
work can be done.
This matter will be about the first
real work of the session as members
are anxious to get Il through. so as
to draw their pay at the end or the
first 10 days.
Attempts will be made to place pri-
vate banks under state supervision.
The belief is strong that this should
be done now, but private bankers VIII
fight II.
Prohibition will get little sympathy
from the committee on liquor traffic
in the senate Chairman Taylor be-
lieves that any acts by this legislature
on those lines would precipitate a
wet" and dry" fight next election.
which he considers bad for politics,
and Wetmore is with him.
Taylor says there will be no attempt
to smother any bill by the committee,
but every fair means will be used to
defeat all prohibitive measures. He
and Wetmore constitute the majority
Of the committee.
The electoral college Of the state
met into the senate chamber yester-
day Afternoon and after casting many
ballots, elected j. N. Bagley Of De-
troit, as the messenger to carry the
results OF the last election TO Wash
ington. which will officially notify
President-elect Taft OF his majority In
Michigan.
The legislature started its work with
the usual short and unimportant Mon
day night session. In the house Agens
bill changing the open trout season
was the only one introduced.
Heckert put in a resolution asking
congress to pass law creating vol
unteer retired list for all soldiers and
marines serving with credit in the
civil war.
The senate passed resolution by
which one member Of the senate COM
mittee on finance and appropriations
shall visit all state institutions.
Rep. Curtis. of Wayne, offered the
following resolution.
Resolved, That in view OF
statements now appearing in the
public press that the waterways
Of the state are being acquired by
large corporations without ade-
Quate compensation and for pur-
poses which threaten the CONNER
cial development of the state that
committee of three be appointed
to investigate the situation and re-
port same to the house at the
earliest possible date.
This was unanimously adopted but
the speaker wanted time to appoint
the committee.