St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-05-07
ISS. .

Approved March j. 1889.
1ss.
s. F. No. 143. AN ACT to amend an act
entitled IAN act to conform all savings
banks or institutions for savings to uni
formity of powers, rights and liabilities,
and to provide for the organization of saw
ings banks. for their supervision and tor
In such institutions" approved, March
11th, 1879, being chapter one hundred
and nine, Of the General Laws of one
thousand eight hundred and seventy-nine.
Be it enacted by the Legislature of the State
of Minnesota:
SECTION l. That section twenty-six Of an
act to conform all savings banks or institu-
tons for savings to uniformity Of powers,
rights and liabilities, and to provide for the
organization of savings banks, for their
supervision, and for the more efficient pro-
lection of depositors in such institutions, ap-
proved March 18th, 1879. be and the same
is hereby amended by striking out the words
and figures Five thousand dollars [S5, 0O0]'
twenty-six, and [by] inserting in place
thereof the following words: "One-half of
one per cent of the total deposit of any such
savings bank" provided, that nothing in
whose total deposits be less than one million
dollars.
Sec. 2. That section twenty Of said
act be and the same is hereby amended by
striking out the words and figures five Isl"
where they occur before the word years in
the second subdivision of said section, and
by inserting in place thereof the word and
figures ten [l0.l"
SEC. 3. That section twenty-eight Of said
act be, and the same Is hereby amended SO as
section %. 1t shall be the duty of the
trustees of any such corporation, as soon as
practicable, to invest the moneys deposited
with them in the securities named in the
~ 81 III
except that for the purpose of meeting cur
rent expenses and payments i'll excess Of the
receipts there may be kept an available fund
Of not exceeding fifteen per cent OF the
whole amount of deposits with such corpora
tons, and the same may be kept on hand, or
on deposit in any bank OF banking associa-
ton in the State of Minnesota organized
under any law or laws of the state or of the
United States, or with any trust company
incorporated by any law Of this state; or in
any trust company or bank in the city of
New York, duly organized under the laws Of
the State of New York or of the United States;
but the sum so deposited in any one bank
or trust company shall not exceed ten per
cent of the paid up capital and surplus of
such bank or trust company: or such avail
able fund. or any part thereof, may be loaned
upon pledge of the securities, or any of them,
named in subdivisions one y two q ,three(3)
but not in excess of nine [9o] per cent of the
cash market value of such securities SO
pledged, nor in excess of the par value there
Of; and should any of the securities so held
In pledge Gepreclate in value after making
any loan thereon, it hall be the duty Of the
trustees to require the immediate payment of
such loan, or of part thereof, or additional
security therefor so that the amount loaned
shall at no time exceed ninety 1901 per cent
Of the market value of the securities pledged
for the same.''
SEC. 4. That section thirty two Of said act
be and the same Is hereby amended by strik-
ing out the words ten per cent wherever
they occur in said section, and by inserting
SEC. 5. This act shall take effect and be in
force from and after its passage.
Approved April 6. 1889.
IsO.
s. !. No. 1o5-AN ACT to smend chapter
l4S Of General Laws Of 1887, relating to
soldiers home and relief.
Be it enacted by the Legislature Of the State
sEoTloN i. That section twenty i've (25)
General Laws Of 1887, be amended and
changed to read as follows: ''Section 25.
The state auditor shall annually hereafter
add to the tax levy Of the state one-tenth
[1-1O] of one mill on each dollar OF the val
uation Of the state. both real and personal
to constitute soldiers relief fund, and he
shall at the close OF each fiscal year transfer
from the revenue fund to the soldiers relief
fund the amount OF such levy not already
credited to said relief fund"
SEC. 2. That section twenty.six Of the
said chapter one hundred and torty-eight
[14S] of General Laws of 1887 be and the
same is hereby amended by adding the fol-
lowing exception to the end Of the first pro-
viso Of said section, as follows, viz: Except
that the trustees in their discretion may gran
or provide transportation and rations en- route
forany Aonorably. discharged INDECENT ex-
United States soldier, sailor or marine. or
the dependent families of the same.
SEC. 8. Section thirty Of the said chapter
one hundred and forty eight l14sl, General
Laws 1887. Is hereby amended and changed
to read as follows: "Section 80. The board
Of trustees may, by unanimous vote of all
the trustees. transfer any surplus moneys
either from the soldiers home fund, to the
soldiers relief fund or from the soldiers
relief fund to the soldiers home fund.-
when In their Judgment such transfer will
better enable them. to enforce the spirit and
intent Of this act''
SEC. T. This act shall take effect and be
In force from and after its passage.
APPROVED April 2, 1889.