Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1917-04-09

''o" whereby 1t voted to adhere,
'iSa voce vote being taken,
Inc motion prevailed.
Oh motion by the same gentleman the
-''use voted to insist on its action and
"eree 10 committee of conference.
The Chair appointed as such committee
OF conference on the part of the House
Messrs. Cole of Eliot Sawyer Of Madison
ana Descoteaux of Biddeford.
Mr.. BUTTON OF Bingham: Mr.. Speak
err would like to speak one minute as
matter Of personal privilege if the
Rouse will agree to it. / believe that I
was member Of the insurance committee
VINO heard this matter and that l signe 1
the majority report, Ought not to pass
nave listened to this matter being
threshed out and I have noticed the stan |
that has been taken by my good friend
from Madison. Dr. Sawyer, who was pres
ent, l presume, when came into. this
world, and believe that from his stand
point as "a physician and his standpoint
as man of business he is right and I
feel for once in this session that ] should
change my mind and change my position.
and l would like to be appointed on that
committee of conference
The SPEAKER: Would any one of the
three gentlemen be willing to withdraw?
Mr.. COLE: Mr.. Speaker, l will with
draw in favor Of the gentleman from
Bingham.
Mr.. DUTTON: Mr.. Speaker, excuse
me. did not know any other had been
appointed. l withdraw my request.
The SPEAKER: 1t is too late now.
Mr.. SAWYER: Mr.. Speaker, l may
have been present when the gentle
man from Bingham was born. but l
did not think 1t would ever be record
ed against me. Laughter.)
The SPEAKER: The committee Of
conference will be Messrs. button Of
Bingham, Sawyer of Madison and
Descoteaux Of Biddeford.
Mr. WILSON Of Portland: Mr..
Speaker. 1 would like to move that the
House reconsider its vote whereby it
voted to indefinitely postpone the bill
entitled "An Act relating to permit
ting savings banks to invest in railroad
bonds" This bill passed through both
branches Of the legislature. When it
came to the Chief Executive it was
determined that the bill was not strin-
gent enough and that possibly there
might be some way by which some
railroad on the verge of bankruptcy
might get It's bonds into the Maine
banks. At his suggestion it has been
returned and has gone through the
Senate as amended. Through some
misunderstanding 1t was Indefinitely
postponed IN this House last night
would like to move that we recon-
slider our action.
The motion prevailed.
Mr.. ALLEN of Sanford: Mr.. Speak
err. l would like to have that amend
ment read.
Mr. WILSON: / think perhaps l can
explain it to the gentleman in a few
words The object of the amendment
is to make the law in regard to the
investment in steam railroad bonds
uniform with the new laws passed
this session in regard to the electric
roads and light and power companies.
Previous to this session our laws have
simply provided that the bonds of
certain railroads in certain states shall
be legal investment but have not
made any provision as to earnings or
anything Of that sort 1t only said
that certain railroads in certain states
could sell their bonds legally to Maine
savings banks. They have changed
that to provide for bonds of all those
companies which have net earning
capacity above certain percentage
of it's debts
Mr.. ALLEN; What was the percent
age?
Mr.. WILSON: In this particular bill
1t provides that the bonds of all rail-
roads which have an earning capacity
of one and three-fourths per cent. over
it's debts shall be legal investment
understand the only objection to the
amendment is that 1t raises the amount
from one and one third per cent to one
and three-fourths per cent, but it Is
thought that one and three-fourths per
cent. If not too high,
On motion by Mr. Wilson of Port
land. the House voted to reconsider it's
vote whereby the bill was passed to be
enacted and on further motion by the
same gentleman, the House voted to
reconsider its vote whereby the bill
was passed to be engrossed and on fur
Their motion by the same gentleman
Senate Amendment A was adopted in
concurrence and the bill was passed
to be engrossed as amended by Senate
Amendment A in concurrence.
Mr.. Bussabarger Of Lubec presented
the following order and moved its pass
age:
Ordered, that a group picture of the
members Of the House be purchased
and that the Speaker appoint a COM
mittee of three members to select and
secure such group picture.
Mr.. ALLEN Of Sanford: Mr.. Speak
err. what are we going to do with it?
The SPEAKER: The Chair is ready
to answer parliamentary questions as
far as his ability will permit.
Mr.. ALLEN: Mr.. Speaker, that is
good sensible question: do not know
whether it is parliamentary or not.
Mr.. BUSSABARGER Of Lubec: Mr.
Speaker l would say in answer to the
inquiries that l introduced this order
on the initiative of several gentlemen.
They have thought over the matter and
have decided that the Legislature of
1917, the 18th in the State of Maine,
will go down in history as a historical
representative gathering. 1t will be
known as the Rum and Water Legis-
lature. and in addition to that as the
War Session. 1t will mark an epoch in