El Paso herald. (El Paso, Tex.) 1901-1931, 1917-02-14
NEW ATTACK At
TEXAS CAPITAL
Chamber of Commerce Pro
tests at Another Texas
Legislative Measure.

At q special meeting OF the board
Of directors OF the II Paso chamber o.
commerce Tuesday afternoon At /
o'clock. protests were sent 10 Nessrs
Thomson and Dudley. FL Paso's rep
resentatives in the legislature At Aus
tin, against the passage of 4 house
bill assessing vendors lien notes for
taxation. The bill would make it i'm
possible TO collect a note in court I'M
less it had been rendered Tor taxation
and all taxes had been paid
The same measure relieves the owner
of the property against which the
notes are held from paying taxes
upon that portion or his property en-
numbered by note.
Theoretically the measure Is to mako
the man holding the notes pay some
Of the taxes and the man owning tho
property pay taxes only or thar por-
ton of his property which ne has paid
for
Actually. however. II viii have the
effect. il is contenjed. or driving rapi-
tai out OF the state. since a. is pos
sible TO secure Investments in other
states without such restrictions &c
would either have this effect or II
would result in the buyers Of the notes
insisting that the man selling the note
pay the taxes. which would throw thu
burden right back upon the shoulders
- here IL rests now and even heavier,
for il would result IN most cases III
the owner OF the property paying a.
most as much taxes as ne pays now
ana In addition paying the taxes upon
the notes.
Wyatt Fails Legislature.
L. calling rhe meeting 70 order.
president j. ". Wyatt said with =
smile that he thought the chamber Of
commerce might just a. well go on
record for once and all as opposed 10
all measures brought W ~ the Texas
IarH -eHa NH FHH
every new measure and save meeting
so often. IF not. we viii have 10
meet daily 10 keep wiring our ohlec-
tons TO the pernicious measures intro
dUced IL this pernicious body of very
small men" continued Nr- Wyatt
"AIessrs. Dudley and Thomson, our
own representatives are out or place
in such small company. he continued.
They represent the highest " pc or
men in the legislature.
". ii. Shelton suggested that the
of commerce 90 on record as
favoriuE the legislature busying itself
solely during the rest o. its term with
repeating statutes now on the books
instead Of enactinS new legislation
The discussion continued for some
time in a lighter vein among the mem
hers. No other business was transact
ed save sending this protest TO the 81
l'asO Teurese utdtfNeS-
Gearing House Protest.
The message wired 70 Messrs- Bud- /
Clearing House association on yester- I
lay follows
We strongly urge yOur earnest op- I
7osiuon ana influence against mousse .
bill No IS and companion bills
The effect Of the passage OF these Z
measures viii be the total withdrawal :
lf outside loans from the state OF .
Texas and consequent curtailmenr or !
All building operations relying upon (
outside loans. !
Not only this. but local money lend /
-rs will no longer lend on real estate.
,ut will look only to other securities 1
ia making investments In this city. !
all taxes. state, county and
) percent real estate loans
would net only . percent ana no one
would lend money at this rate Il this /
standpoint the result OF these meas
1res would be TO drive the lender 10
,ther states for safe investments, or 10 /
he abandonment of the real estate I
ield.
VIII Hamper Development
West Texas rs speedily BENG DE-
-eloped on outside money. and in our
nothing should be done 10
.utaconize the foreign investor who IS =
low furnishing rs. OF large loans.
money at percent Neither Snoula
ne Texas money lender be driven from
he real estate field to some other, de-
irving the farmer. the small home
,uilder and other small borrower OF
he chance Of securing his needed
unds for such purposes at the very
owest rate Of interest
We know what your attitude viii
"a on these matters, but urge you 10 I
our greatest activity and influence /
z securing the support OF others IN
heir defeat