Omaha daily bee., 1911-05-06
Nebraska
MAY CUT RATES OF INTEREST
Law TO Avoid Double Taxation Said
to Have This Effect.
MANY PERSONS AT THE PEN
eeived at LincoIn-BOard of Par
dOns Has Large Amount
of work Ahead.
Trom a staff Correspondent.)

LINCOLN, May ESPECIAL 1.-The law
seeking TO obviate the double taxation of
mortgages and mortEaged lands has al
ready had considerable effect upon dealers
in that class Of securities in that It has
caused. II is said. reduction In the inter
est rates formerly charged.
Under the old system mortgsged land was
taxed for its real value and the tax
assessed against the owner The mortgage
was also taxed at It's face value at the
residence OF the holder. In cases where the
securities were held in this state a conse-
auent double taxing resulted. The new
law provides that the mortgage shall be
taxed to the holder for it's face value and
the land taxed only for such excess value
as It has above the face of the mortgage.
Under the terms of the new law the
owner Of the land may by stipulating in
the mortgage contract pay both of the
taxes. and this, It is generally thought by
brokers and those handling securities, will
be accepted by mortgagors over the state,
leaving the mortgages free from taxation
IN this regard. This tax, 1t is asserted. is
primarily the reason why mortgages
should loan their money at n lower rate
than under the present system.
More Prisoners Received.
Prisoners received at the state peni-
tentiaTy for commitment during the month
Of April mark a decided increase In num-
bers over any previous months. Twenty
seven came in during April, exclusive Of
three alleged bank robbers who were
brought here from Hamilton county for
Eafe0eeping At the end of the month there
we're 44S convicts at the institution Eleven
were discharged during the month and
two were paroled. The present roll shows
B7 white male prisoners. three white
females, 1o2 colored males. two colored
females seven Indians, one Japanese and
pne Korean
Warden James Delahunty reports that
no had balance of 1881 in the prison
cash fund at the beginning of April. He
received $1OOss.4S under the provisions Of
IL r. No. 812 This, with gate receipts,
and $50 for the sale OF cinders and S2s7.65
from the Lee Broom and Buster company,
made a total of S1O.4ss,& The warden
paid into the state treasury $1O,S7S+A leav-
ing a balance of $1,000 on hand.
Boar dof PardOns to BE Busy.
The board of pardons which viii come
into official existence on July already
has q path outlined for it. which assures
Ito members of anything but periods of
snnui for the first few days after it be-
comes q part Of the state government.
The application for pardon, which was
pnly a few Gays ago made by Mrs. Mamie
Hutchinson and her son, who were con-
victed in Nuclzolls county fer the muir
der OF q farmer named Eli Feasal. will
be laid over until that time by Governor
Aldrich. and win be the first case ~ be
taken UP by the new board Tho woman
IL serving a sentence of ten years and
her Offspring, who according to the evil
derce assisted In the commission of the
decd. is receiving q twelve-year term of
imprisonment 1t is said that q brother
Of the Deed man proposes to resist the APP
plication-
Hugh Thompson Of Richardson has like