The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-02-12
THE CIGARETTE BILL.
1t Passes the House by a Unani-
nous Vote.
THE TRUST AND GUARANTY BILL.
The Bill Providing for the Adoption OF
Children Gets Through the House
The Eight Hour Law.

The Council held only short session
yesterday, but the House got down towork
in good shape The bill prohibiting the
giving or sale of cigarettes, cigars, opium
or narcotics of any kind to minors under
eighteen years Of age passed the House.
In the House, Mr. Pierce has introduced
a bill to provide for the incorporation and
management of trust and guaranty asso
Citations. 1t provides as follows: ''Sec.
That trust or guaranty associations
which may have been heretofore incor
porated, or which may hereafter be incor
porated under the provisions Of this act
for the insurance Of owners of real estate
from loss by reason Of defective titles,
liens and membranes shall have the
power and right: Ito make assurances
of every kind pertaining to or connected
with titles to real estate, and to make, exc
cute and perfect such and so many con-
tracts, agreements, policies and other in
struments as may be required therefor.
2To receive and hold on deposit and in
trust and as security, estate, real and per
sonal, including the notes, bonds, obiiga-
tions of states and territories, individuals,
companies and corporations, and the same
TO purchase, collect, adjust and settle, sell
and dispose Of in any manner without pro
ceeding in law or equity, and for such
price, and on such terms as may be agreed
on between them and parties contracting
with them; Provided, That nothing herein
contained shall authorize said companies to
engage in the business of banking. $40
make insurance for the fidelity of persons
holding places of responsibility and of
trust, and to receive upon deposit for safe
keeping iewelry, plate, stocks, bonds and
valuable property of every description,
upon terms as may be agreed upon. ITO
act as assignees. receivers, guardians, exc
cutors, administrators, and to execute
trusts of every description not inconsist-
ent with the laws of this territory or of
the United States. 5-To act as agents for
the purpose of issuing or counter signing
the certificates of stock, bonds or other
obligations of any corporation, association
or municipality, state or public authority,
and to receive and manage any sinking
fund thereof on such terms as may be
agreed upon. 6-To become sole surety in
any case where by law one or more sureties
may be required for the faithful perform
ance of any trust, Office, duty, action or
engagement. ITO take, receive and hold
any and all such pieces Of real property as
may have been, or may hereafter be, the
subject of any insurance made by such
companies under the powers conferred by
their charter, and the same to grant, bar
gain, sell, convey and dispose of in any
such manner as they see proper $40
purchase and sell real estate and take
charge of the same. 9To act as security
for the faithful performance Of any con-
tract entered into with any person or NUM-
cipal or other corporation, or with any
state or government by any person or
pc sons, corporation or corporations 10
To become sole security for the faithful
performance of the duties of any national,
state, territorial county or municipal
officer, and to execute such bonds or recog-
nizances as may be required by law in such
cases. Ito become security for the
faithful performance Of the duties of anv
clerk or employee of any corporation, com
pany, firm or individual. Ito become
security for the payment of all damages
that may be assessed and directed to be
paid for lands taken in the building of any
railway, or for the purpose of any railway,
or for the opening of streets or roads, or
for any purpose whatever where land OF
other property is authorized by law to be
taken 13-To become security upon any
writ of error or appeal, or in any proceed.
ing instituted in any court of this territory,
in which security may be required: Pro
hot ~.
shall be so construed as to dispense with
the approval of such body, corporation.
court or officer, as is by law now required
to approve such security. Sec 2-Propided
however. that before exercising any of the
powers hereby conferred, each such cor
poration shall have paid-up capital of not
less than one hundred thousand dollars. an
affidavit of which fact, made by the treas
urer thereof, shall be filed in the office of
the secretary of the territory, and each
such company, heretofore or hereafter in
corporated, shall file in the office of the
secretary of the territory a certificate OF
its acceptance hereof, made by formal reso-
luton adopted at regular or called meet
ing of the directors, trustees, managers. or
other proper officers thereof and certified
under the corporate seal of the company.
and copy of such affidavit and of such
resolution certified under seal of the Office
of the secretary of the territory shall be
evidence of compliance with the require
ments hereof. Sec. 3-Whenever such
companies snail receive and accept the
office or appointment Of assignees, receiver,
guardian, executor, administrator, or to be
directed to execute any trust whatever, the
capital OF the said company shall be taken
and considered as the security required by
law for the faithful performance of the
duties as aforesaid and shall be absolutely
liable in case Of any default whatever.
Sec. THAT any executor, administrator.
guardian or trustee having the custody OF
control of any bonds, stocks, securities OF
other valuables belonging to Others shall
keeping with said companies. Sec 5-That
whenever any court shall appoint said com
panies. assignees, receiver, guardian, exc
cutor, administrator, or to execute any
trust whatever, the said court may. in its
discretion, or upon the application of any
person interested, appoint suitable per
son to investigate the affairs and manage
ment of the company so appointed, who
shall report to such court the manner in
which its investments are made and the
security afforded to those by or for whom
its engagements are held, and the expense
of such investigation shall be betrayed by
the said company, or the court may, il