Omaha daily bee., 1889-02-17
RAYMOND'S BANKING BILL.
1t Is Being Considered BY Commit
tees From Both Houses,
MAIN FEATURES OF THE MEASURE
An Interview With Mr.. Jewett on the
Custer County Division Question
Legislative Notes and
Gossip.


LINCOLN, Neb., Feb. 16.-lSpecial TO THE
BEE. The banking committees held severa
joint meetings at the Windsor hotel, listened
to the opinions of a large number of bank
ers, and read numerous and varied bills in
troduced in the present legislature. The
purpose was to secure light and a solid basis
for a law for the bank regulation, of which
Nebraska is in such great need, but there
were 50 many conflicting opinions among
both bankers and legislators that no agree
mcnt was reached and the committees sepa-
rated.
Senator Raymond had q bill prepared that
seemed to come nearest to the general opinion
as to what was needed, but he became impa-
tient at the delay and introduced this meas
ure. Since then both committees have taken
the Raymond bill as a basis for a new meas
urc. The committees are working scpa-
rately, but by exchanging opinions are ar
irving at similar results.
The bill makes it unlawful for anyone TO
engage in banking unless he have the capital
indicated in the following scale! In places
of less than 1000 inhabitants. 5000; LOCO to
1900, $4,000; 1900 to 1000, $1,000; 1000 to
10000, 10000; 10000 to 10000, $4,000; 10000
to 5000, So, 900; in cities of over 10000,
500, 900. Quarterly sworn reports must be
made to the state treasurer showing the fol
lowing facts:
l. lit IlDl1 Dil1t ulppI upih INV o'' v
gage, together with the list thereof; the par
value and estimated market value of all stock
or bond Investments, designating each par
ticular kind and amount invested i'll each;
the amount loaned upon the of securities,
with "a statement of the securities heia as
collateral for such loans; the amount loaned
upon notes, bills of exchange, overdrafts,
and other personal securities, with the esti-
mated market value of such securities; the
amount of rcdiscounts and commercial paper
past due; the amount invested in real estate,
giving the cost of the same; the amount of
cash on hand and on deposit in banks or trust
companies, with their names and the amount
deposited in each; the amount or all other
assets, including accrued interest, not
enumerated above, and such other lnforma-
ton as the state may require .
Commercial paper six months overdue, and
not in process of collection, may not be in
statement may not be made before any one
connected with the bank. The statements
must be published. The treasurer may call
for special reports at any time.
The treasurer must appoint a person or
persons to examine every person at least
once each year. The examiner must make a
thorough Investigation, and IS empowered to
administer oaths and compel the attendance
OF witnesses. The eXamine will be paid SO
a day while employed, but not to exceed
5000 a year. He must give a bond for
$40, 600.
A penalty of $50 is fixed for each day the
quarterly statement Is delayed DeVOnu u ten-
day limit from its date. The penalty for
any statement, book entry or false exhibit
intended to deceive the shall be a
fine not exceeding $40, 900 and Imprisonment
in the state penitentiary from one to five
years.
Each banking concern must hive on hand,
in lawful money, including sight exchange
and deposits in other banks, Is per cent of
the amount of its deposits. If the reserve
fall below Is per cent the bank may not in
crease its liabilities except by acquiring sight
exchange. If the deficiency continue thirty
DAYS it shall be sufficient cause for the ap-
pointment of u receiver. The total liabilities
for money borrowed may not exceed 20 per
cent of the capital, but the discount OF bills
OF exchange and commercial paper, made in
goodfaith, shall not be considered as money
borrowed. A bank is prohibited from re-
ceiving deposits when insolvent. Such Of
Tense is made q felony punishable by a fine
of not exceeding $4,000 or by imprisonment
not exceeding five years, or both.
If, any time, the state treasurer learn that
the interests of u banks depositors have be-
come jeopardiZed he must notify the attorney
general. who must ask the supreme or dis
trict court to appoint a receiver. A state
ment of the facts in this clause will be sutfi-
cient for the appointment of the receiver.
The Raymond bill makes deposItors pre-
ferred creditors, but the committees will
strike out that featurr. A provision will
probably be added covering savings banks.
National banks are not affected.