Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-04-08

/
that it Is water. and that the invest
ment is in bonds and preferred stock.
| He pointed out that it is the con-
! tention that this company which pays
| dividends on watered stock and sells
preferred stock to anyone who will
| buy, Is unable to pay tax in compe-
tition with the citizens Of the State"
Il say that such condition war
rants the levying of this tax and its
collection and payment"
! He declared that what is true of the
earnings of the General Maine Power
Co. is true of the Cumberland County
Power & Light Co, and he quoted fig
| ures showing the amounts in excise
| taxes paid by steam and street rail-
! roads, telephone and telegraph COM
panies, savings banks, express compa-
MES and other classes of corporations
paving the franchise tax.
| He spoke of the needs for state hos
pitfalls and highways of the state and
asked why the accumulated capital of
I power companies as we'll as the ac-
emulation of capital in savings banks
! should not contribute to the common
purse.
| I'VE now come to the proposition
| of how we are to access this tax
| and | figure that 4 per cent on the
! gross income would he the better
| way. At first l concluded that-a tax
! on the kiloWatt hour would be the
| better but on reflection | decided
! that the gross income tax would be
/ the one, for tax on the kilowatt
hour might be a double tax. | ask
! YOU is it an unjust tax that would
! take but 100000 from these pros
porous electrical companies and
turn into the State Of Maine a new
! source of revenue. The tax would
I be spread over a large area and
would not be felt greatly by either
/ the consumer or the electrical COM
| panies."
Rep. Martin Moves POstponement
Rep. Martin of Augusta moved for
the indefinite poStponement of the
bill saying, The committee on tax
alton was unanimously against this
bill and they were not hostile but
| adverse. They would have reported
! differently or presented a divided
report if they could have seen any
merit in the measure at all. Rail-
| roads pay only on their physical
, property and the rest comes out of
| their franchise tax. Telephone COM
! panies do not pay taxes on their
| local property but all they are taxed
| is on their franchise. Electrical
| companies pay local taxes and this
! proposed tax would be adding an
| other burden. The result would be
| that these companies if this tax were
| passed would come before the Pub
| lie Utilities Commission and ask for
| an increase in their rates for every
| company is entitled to fair earn
| ing on their investment. They talk
about Boom Maine but how are you
| going to Boom Maine if bill like
this goes through that will make all
| industries suffer-"
Rep. Curtis Of Brewer said, "As
| House chairman of the committee on
taxation j Will say that we treated
the bill fairly but we could find
nothing that should merit favor
able report and though the commit
tee took into consideration the
! amendment it in no way affected the
bill. A raise in the rates would he
/ hard blow to some industries in
this State that depend alone on sub
sistence on low electric rates. We
representatives must consider the
people in the locality from which we
come and which we represent. OF
what use is it to advertise Maine?
+, We might as we'll scatter the money
appropriated by this body for the
use OF publicity.
Rep. Leland of Sangerville said
that the agricultural progress of the
State depends greatly on cheap pow
er. If it is possible to find some
method for advancing the develop
ment of cheap electricity it will be
I one of the controlling factors in
agricultural development"
Rep. Foster OF Ellsworth said that
! the tax on the Bangor Hydro-electric
! Co. in the city of Ellsworth. was
| So 500, compared with total tax
| commitment of $132,O0O. or about
- per cent. II would like to have
! the gentleman from Auburn COM
I pare that with the excise tax on the
! Pullman Co, and the American EN-
press Co.
i II believe his opening remarks
We're intended to intimidare any
! stock holder in any hydro electric
! company. l am a very small stock
/ holder in the Bangor Hydro-electric
! Co. l would like very much to have
! a ruling from the chair as to wheth-
| err l am entitled to vote on this
! Rep. Holmes of Lewiston, said he
| found himself speaking in support
OF the motion to indefinitely postpone
and opposed to Mr.. Wing. Il listened
J to his remarks to the extent of Criti-
| cism of past Republican admins
! trations," said Mr.. Holmes. Ma
turally / am pleased that he pre-
! empted my grounds for criticism. |
would have UNNECESSARILY enjoyed
! denouncing the Republican party.
! even more SO than the gentleman
I from Auburn.
Il am interested to know the real
| purpose OF this bill. as | have tigur-
| ed it out from the bill and from the
| remarks. Is it to get list of stock
! holders or to place tax on the IN
! come? Ii the former there is suf-
| ficient law to cover it," Mr.. Holmes
| then quoted from Section - or
| Chapter 81 of the revised statutes.
| IF the gentleman from Auburn
! feels that his constituents in Au-
burn, who for the most part depend
on the industries of Auburn, and
which in turn depend on the water
| power-if he believes that they
would support him in this measure.
| for my part my constituents in
| Lewiston would not vote for it,
They have to earn their daily bread
! the same as anybody. We must
keep the wheels turning.
| "A certain bill was introduced in
| the Legislature U will not say in
| which House or by whom. but it
was not by the gentleman from Au-
! burn) One of the papers, | might
as we'll say which one as we all
read the papers-it was the Lewis
ton Journal-hailed it as a states
rianlike measure. But when ne be-
gan to think of Clark's RIPS, evil
| IDENTITY the editor of the Lewiston