The Emporia weekly news. [volume] (Emporia, Kan.) 1881-1889, 1889-02-21
Mondays Proceedings
SENATE


i number of bills of local interest
were introduced and passed first read
ing, and senate bills 3S2 to $50 we're
read a Sc cond time and referred. Sem
ator Hardness called up his motion to
reconsider the action o. the senate in
definitely pOstponing the senate subst1-
tute relating to judicial apportionment.
and the motion prevailed. It was
agreed, 10 to s, to place the substitute
on third reading for passage. The SEN
ate went into committee of the whole
to consider insurance bills, and on mo-
tion of Senator kirkpatrick, Senator
Wilson's bill was faVorably reported
for passage. The bill is as follows:
Section ]. 1t shall be unlawful for
any insurance company doing business
in the state of Kansas, either directly
or indirectly to make any contract or
agreement, or enter into any specuia-
tion with any other fire insurance COM
pany doing business in this state, by
which rating boards may be established,
or any agreed rate be adopted for in
surance upon any certain property; and
any violation of this provision shall
render the Insurance company violat-
ing the same liable to penalty. as pro-
Vided in section % OF chapter numbSr
80 of the laws of 1871.
Sec. 2. The provision of this act shall
apply to individuals and partners, and
to all insurance companies and assocla-
lions, whether incorporated or not, now
or hereafter engaged in the business of
ire insurance in this state.
The following bills were taken up
and passed on third reading: A Dill
to provide for the erection of bridge
across the Kansas river at Bonner
Springs; bill to return to certain
individuals over payments of interest
ON purchase price of school lands; a bill
fixing the times for holding the regular
terms of court in the Thirteenth dis
trict. Some other bills of local impor-
lance were also passed. The evening
session was taken up with the conSlo-
Grafton of appropriation bills.
HOUSE.
The time of the house was occupied
| in considering the bill reported from
| the judiciary committee with regard 70
the legal rate of interest. The bill re-
duces the legal rate to 6 per cent and
the contract rate to 10 per cent. The
| bill provides penalty that any person
contracting for more than 10 per cent
shall forfeit all interest so contracted
/ for in excess of such 10 per cent, and
| in addition thereto shall forfeit sum
| of money to be deducted from the
amount due for principal and lawful
| interest equal to the amount or inter-
| est contracted IOr IN excess Oh III pei
cent. A score of amendments were
/ offered. but all we've voted down with
the exception of the two following,
| which were adopted:
when such excess interest shall eX-
coed 2 per cent per annum and not ex-
coed 5 per cent, the party contracting
to receive such excess shall forfeit all
the interest contracted for; when ex-
cess shall exceed 5 per cent per annum
and not exceed 10 per cent, the party
shall forfeit all interest and one-half OF
the principal; when such excess shall
exceed 10 per cent the party contract
ing TO receive such excess shall forfeit
ali the debt both principal and inter-
est
''AIl conditions and provisions con-
tanned in any written promise or con-
tract hereafter made for the payment
of money, which provides that upon de-
fault of payment or any of the pay
ments stipulated therein that the rate
of interest shall be increased, which in
creased rate is to cover any period OF
time prior TO such default, shall be abb
solutely void"
The bill, as amended. was then or
dered placed on third reading.