The Barre daily times. (Barre, Vt.) 1897-1959, 1915-03-23
D0INGS OF THE
LEGISLATURE
Continued from first pagel

capital from 100000 TO S2,000,0O0i and
$500 for each additional 81 100000 or
! fraction thereof.
II corporation has no capital stock, zee
| TO be S25, with no fee for village inn
provement or cemetery corporations, or
any charitable, educational or religious
corporations, or public playground cor
porationsi provided that no corporation
shall be exempt from the payment OF
an organization fee if il is to have a
capital stock or is organized for profit.
| II charters are amended TO increase
capital, fee shall be sum equal to differ
ence between fee herein required for cap
ital before such increase and the fee here
in required for the total amount OF cap
ital stock permitted after such Increase
If charter is amended but stock not IN
creased fee TO be So.
Fee payable on issue to foreign cor
lporation or others with Office in another
! jurisdiction, to do business in the state,
81. Ordered TO lie and be printed,
Senate Proposals of Amendment Con-
CURED In-Special Order
! H. 404, an act to appropriate money
| for the use OF the state fair commission,
and in aid of agricultural fairs. The
question was, on the House concurring
in the Senate proposals OF amendment,
as of March II. Mr.. Stacey of Hartford
explained the proposals of amendment
which were made on recommendation OF
the auditor and attorney general and Is
approved by the governor, which, he SAID,
would tend to remove past causes OF frlc-
| ton Mr.. Foote OF Cornwall explained
the action and attitude of the CONNIE
! tee.
Mr. Hamblet Of Barton moved that the
debate now cease. Mr.. Hapgood asked
| for 80 seconds, but Mr.. Hamblet refused
to yield, Mr. Hapgood demanded a RS
ing vote which resulted in sustaining
Mr.. Hamblet's motion, l2S to 80. The
House then by rising vote concurred IN
the Senate proposals of amendment by
| So to "a.
Special Order.
II. 277. an act TO provide for the APP,
praisal Of bank stock Mr.. Caswell OF
Derby explained that. the bill provided
for uniformity of appraisal Of bank stock,
| Mr.. Stacey OF Hartford moved that ow-
ing TO the absence OF the chairman OF
the ways and means committee, the bill
be ordered to lie and be made special
order for Tuesday morning at 1918
o'clock, and il was so ordered.
Senate Amendments Concurred In.
II. 435, an act to provide for the reg
istration Of automobiles or motor vehicles
| bv manufacturers or dealers.
II. 277, an act to provide for the APP
praisal Of bank stock There being no
objection. this bill was treated as not
having been taken up, according 10 rul'
ing of the chair.
Mr.. McClary OF Windsor moved to
amend by substituting H. 2S2. after strik
ing out all of H. 277, but the enaeting
clause. Mr.. Wilson Of Chelsea explained
that If the bill were amended as pro-
posed, it would be impossible further to
amend the bill. He called attention to
provisions in II. 277 which provided for
equalizing the appraisal OF bank stock.
He did not favor the provision which
was found in the substitute bill proyid-
ing that all taxes on bank stock above
the par value would go to the state and
not to the towns Mr.. Powell OF Rich
ford opposed the amendment.
Mr. McClarv argued that this bill con
ficted with the United States law rela-
tive to national banks, Of which class
there are 40 in Vermont. He opposed
some of the methods OF appraisal pro-
posed. He thought r. 2s2 would add
$4,000 TO the revenue of the state. Mr..
Wilson of Chelsea said that IT, 277 mere
w gave TO commission a power which
the listers now had, the appraisal Of ma
tional bank stock. He used a Windsor
bank paying l6 per cent in dividends as
an Illustration of the need Of law like
LII. 277.
On motion Of Mr. Powell of Richford,
the previous question was ordered. Tho
amendment proposed by Mr.. McClary was
defeated. Mr.. Wilson Of Chelsea mgved
to amend by inserting a new section pro
viding that real estate owned by trust
company OF savings bank shall b. carried
a. assets az an amount not less than IL
appraisal for taxation.
Mr.. smith Of St. Adams City thought
the question 20 decide WAS one OF policy
between two bills. both Of which aimed
to edualize the appraisal Of bank stock.
He thought in view Of the probability
| that a direct tax might be needed, there
was something to be said in favor q =
method that would add somewhat 20 the
states revenues He was inclined 20
think that II. 2s2 was The better bill.
The third reading was then ordered.
Special order
VI. 2s2. an act relating to the taxs-
tion Of stock IN corporations and deposits
in savings banks and trust companies.
Mr.. Hapcood Of Peru moved % amend
bv inserting IN section the words "ey-
cent such ~ is loaned in this state At ,
rate ~ interest not exceeding per cent.
Mr.. Caswell Of Derby moved that the bin,
with pending amendment. b dismissed.
Mr. Soule ~ Albure opposed dismissal
and favored 3 per cent. money
I Mr. Demeritt 81 DuxburT was inclined
70 think there was an advantage IN hay-
ing the tax 20 70 the state On bank
stock
Mr. Eaton NJ Woodstock believed 81
this 5 per cent tax uas delusion and
snare Somebody has got q pay the
taxes
Mr.. NcClarv 81 Windsor moved that
the motion 80 dismiss ~ ufdered 70 ie,
ianf IL was 81 ordered
Passed in Concurrence
/ s los an 40 g. enable charitable anf
religious corporations - reesife ulinors
Y fgr TIE purpose 81 obtaining ifeal n3ni'.
ff-- Ger them