Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1913-03-26
MAINE LEGISLATURE.
tContinued from Page Two.)


4 leeting bill In which he is interested.
submit that it is not fair, not fair to
the bondhoiders who have lost largely,
not fair to other claimants, not FAR To
those who had. bills aginst this COM
pany aside from this individual and
that there is no more reason why TINS
should be paid than there would be thar
z the senator from kennebec should nave
4 TO pay for a grocery bill Which might
4 have been incurred prior TO the time
that he sold a piece OF real estate and
gave title TO it,-no more reason why
this should Be allowed t1}au in an in
4 stance of that Kind And can not be-
lieye that the gold SENSE of this Sem
ate win allow suGh naamendmeut to
! be adopted.
Mr.. ALLEN of Kennebec: Mr.. Presi-
4 dent, ! am not very well versed ON thrs
question, but | am sorry when any sen
] ators here compare grocery bill with
the killing of an S-year-old boy. / think
il is out of comparison And that is
one of these preferred claims that is
tackled on in this amendment, as l I'M
derstand the matter--it is simply pay
ing the parents the small, insignificant
sum of six or seven hundred dollars for
am S-year-old boy which this railroad
killed. !. for one, hope this amendment
will pass.
MI. WING of franklin: / fear that
the senator from sKennebeeid not un-
dersfand the real situation As have
been Informed. this railroad company
had issued FIRST mortgage bonds ON their
plant, they had. issued first preferred
stock and preferred stock, and there
was also large Indebtedness. and this
5000 was included in the Indebtedness
of the compaaNse The COMPANY was un-
able 10 pay their bills, They became
insolvent and all of the property was
sold. sold to "a new company, that had
absolutely no- legal connection with the
old company. and at the price which
was paid the property was not worth
enough to pay fifty cents on a dollar of
The first mortgage bonds. =
Consequently. the preferred stock, the
second preferred stock. and the indebt-
edness was ali Wiped out of the tran
saction That is the condition. And
the new company that was organized
had none of those legal obligations that
the old company had remaining against
it. So far salegal matters go it was
an entirely new rqpmpany- And it seems
10 me that il would be unwise to say
to that new company that had bought
this property and paid for it, that you
must now take up the old debts of the
new company and pay them. The prop
osition is just the same as ii would
be if a man should sell a lot of land
that was owing, and afterwards the
Legislature should say that so long as
4 he had this land that he should pay
some of the debts of the party who
sold it,
The PRESIDING OFFICER: The
question is on the motion of the sena-
/ TOR from oxford that Senate Amend
ment be indefinitely postponed Are
you ready for the question?
Mr.. DT'TToN: l ask for the yeas
and nays ,oz.
A sufficient number baving arisen the
yeas and nays9 we're ordered, and the
secretary calledfthef roll.
Those voting.Yea- We're. Messrs. Bailey,
Boynton. Chase, Colby, conapt, Emery,
Hersey, Jillson, richardson, stearns.
Wing--11. air i4t5.g- &C., .z-z-.'
Those voting nay were Messrs. Al
Ian, Allen. Bprleigl, Clark, Dutton, Fla
herty, HageEtAy, Mansfield. Maxwell
Morey, Mouton, Murphy. Packard. Pat
ten, Reynolds, Smith, Walker-17.
Absences Mr. Hastings-l.
Eleven having voted in the afiirma-
tive and Il having voted in the mega.
tive, the motion of, the senator from
Oxford did not prevail
Mr.. BUTTON: Mr.. President,
move the adoption of amendment A.
The motion was agreed to.
The PRESIDING OFFICER: The
pending question is the first reading of
the bill as amended.
sIr. EMERY of York: Mr.. President.
move that this bill be indefinitely
pAsspe.ied
viva voee vote was taken and the
chair being in doubt as to the result a
rising vote was had and nine having
voted in the affirmative and Is having
voted in the negative, the motion of
the senator from York did not prevail.
The bin as amended was given its
first reading.
Mr. BUTTON: Mr.. President, l
move the rules be suspended and that
the bill be given it's second reading.
Mr. STEARNS: Mr. President |
would like TO ask the senator from
Kcnnebec what is the meaning of this
great haste in relation TO the passing
of this bill. with such an amendment
as has now been attached to il.
Mr.. BUTTON: Mr.. President. if the
senator desires further time / will
Withdraw my motion.
The PRESIDING OFFICER: The
next matter on the calendar, an Act &c
regulate the business of dealing in Sc
curities. Senate Document No. 54l
tabled on motion of Senator Bailey
The pending question is commitment
To committee on bills in second read
4 ing.
Mr. BAILEY of Penobscot: Mr.
Persidept, as there are some parties
here Who perhaps may want TO offer
amendments TO the bill. move that il
be re-assigned for this afternoon