Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1917-02-09

Senator Merrill then asked II tho
money should not remain In the treas
urv. since 1t was not owned IN any OF
the towns. Mr. Gillin explained that
he did not claim legal ownership In tho
several towns, but simply equitaoie
ownership He pointed also to the 1act
that the taking of this. stock by the
trusteeship instead Of its being dumped
on the market must have prevented
depreciation in value of the Maine own
ed stock.
budget Chief T. F. Callahan stated
that there is not in the State treasury
s1s4, 900 nor 100000 above what Is
spoken for by acts of previous LegIs-
Iatures, SO that the money would nave
to be raised by taxation
Senator Burleigh of Aroostook said
that If the value of the stock owned IN
the various towns had been Increased
there might be some equity in returning
this money to the towns, but ne Ialleo
to see it under present conditinos.
Frank L. Dutton endorsed what Mr..
| Gillin had said Questioned by senator
Holt, chairman of the committee Mr..
| Dutton said he did not believe any OF
the municipalities could recover this
money in a court of law. but there
are courts of equity" he said, ana
thew have come to the great court or
eouitv, to this great and general cours,
and ask to have their equitable rights
| adjusted.
This was merely a device, he said.
explaining that he did not mean to inn
plv anything dishonorable about 1t. to
! get around the provision of law that
| a corporation cannot buy and sell its
| own stock.
| state Master w. J. Thompson of the
Grange spoke against the resolve and
in favor of the ESQ towns of the State
which receive no money from the State
return on corporation taxes. He repre-
scented other parties to this equity suit,
! he said.
| He indicated also that another bill
will be introduced which will open up
/ the general question of the present
method of taxing corporations and
I smoke Of the system in Massachusetts,
where the towns where the actual
! property of railroads is located impose
! the taxes.
I If the resolve passes the sums to be
distributed to the principal cities or
the State would be as follows
/ Augusta, $37,6077S; Auburn, S1,315.7S,
Bangor, S21,365.S0; Bath, $13,064.27;
! Biddeford. s33o.16; Gardiner. sS,296.7O;
/ Hallowell, $253.41: Lewiston, S1,322.62;
| Portland. s64,154.95; Saco. s3.705S5;
South Portland, $934.99; Waterville, ST.
! S44.30.
Senator Albert A. Burleigh of Aroos-
took and Chairman Bertrand G. McIn.
! tire of the Board of State Assessors APP
| peared before the committee in behalf
of an act requiring wild land owners
| to file annual reports of the cut of tim
| Der on their townships. They explained
! that the State expends $4,000 year
to explore wild land townships in or
| der to fix their value, but that the
assessors cannot keep track of changes
! in valuation unless they know abou,
/ the cut of timber or losses by fire. This
| information is desired in order that the
wild land assessments may be kept up
to date.
George G. Weeks of Fairfield. who
represented company which he said
willingly files each year, without any
such law, report of the timber cut on
| its wild lands, suggested that the only
objection he had ever heard to any
! such law was the possibility that il
might furnish unfair information to
| prospective purchasers, and he wonder
ed whether the returns could be made
so as not 10 be open to the public.
Senator Holt suggested that the same
information might be obtained through
returns on an income tax, returns
which would naturally be open only to
officials at the State House
No one appeared in opposition to the
act