Section 115. A furnace for melting iron or making glass, or a stationary steam engine for use in a mill for planing or sawing boards or turning wood or in which other fuel than coal is used to create steam, shall not be erected or put up to be used in a city or town which accepts this and sections one hundred and sixteen and one hundred and seventeen or has accepted corresponding provisions of earlier laws, unless the aldermen or selectmen thereof have granted a license therefor, prescribing the place where the building shall be erected in which the steam engine or furnace is to be used and the materials and construction thereof, and have made such regulations as to the height of flues and protection against fire as they deem necessary for the safety of the neighborhood. Such license may be granted on a written application, and shall be recorded in the city or town records. The aldermen or selectmen shall assign a time and place for a hearing upon such application, and cause at least fourteen days’ public notice thereof to be given, at the expense of the applicant, in such manner as they may order. The fee for such a license shall be set by the aldermen or selectmen, but in no event shall any such fee be greater than twenty-five dollars for each such license.