Oakes weekly Republican. (Oakes, Dickey County, D.T. [i.e. N.D.]) 1883-1898, 1891-02-27

other than state and national, cam0 up for
tain had poured as oil upon the troubled wa.
tors Of the banking sea, and he made hard
fight for his measure
intended to allow capitalists of small means
to do IL banking business. He believed the
present law was driving capital out of the
state. ~
Mr.. Burke said that auder the provisions of
this bill all that was necessary to enablo
mao to do bAnkinE business was t.
on it, He need not have q do,lss of cap
it'll. 1t gives dishonest men too much Of an op-
portunity to swindle the public.
Mr.. Gill read an editorial from the Chicago In
ter Ocean strongly indorsing the present North
D lkota banking law.
Mr.. Brooke said: Not only have our votes
been sought bv strong lobby for a candidate
for United States senator, but anoth her LOBBY ul-
most as strong has been constantly on the
ground seeking the ret,eal OF section ~ of he
banking law. This bill is a device to repeal
that section.
Mr.. Skinner. in his u-u -ual impressive manner.
spoke In favor OF the private banker. He
thought that section 81 ought to be repealed.
He would prefer the bill under consideration to
Mr. Brooke The badger has been unearthed.
Mr. Skinner: No: the badger has been above
ground NIL the time.
Mr. Burton irad taken the word of a Rontle-
man that this bill was not intended as repeal
OF section 27 AT the opening OF the debate he
vocates OF this bill had opened his eyes to tho
fact that 1t was intended to nullifv the provis-
ions of that section. The present law provides
! for but Two classes of banks: this bill adds an
| mother class
Mr.. Oliver said that there was nothing in the
bill that provides tor repeating anything. He
read from the constitution to show that bill.
| TO repeal any existing law, must have II repeal
ing ciauee. Ha favored the bill. He had been
spoken to in favor of the repeal OF section No.
p, but no one had said a word to him III favor
| of No 127, referring to the Inter Ocean edi-
| torial, the gentleman said that money would
| buy al article in any newspaper.
MIR. atrom wanted to know II the bill required
the possession Of any capital to enable un indi-
vidnal to do a bankin: business.
MIR. Fay replied that 1t allowed any one TO do
| banking business, the same Us any one was at
| liberty to do mercantile business Is he saw fit.
Mr.. Gill said that hearing the discussion on
this bill was listening to The lawyers In GRIM
| inal trial. When he heard the prosecution, 1t
when the defense had spoken, tho prisoner APP
peared inthe light OF a martyr He believed In
| full discussion OF tho measure. and he would
| therefore move to make house bill l27 special
| order for Thursday at 3 o'clock
| Mr. White moved toindetinitely postpone.
MIR. Lutz said: trust this motion to in.
! Affects business, ana anything affecting busi-
| ness should be treated with the utmost con-
sideration Being business man myself, bank
ing should come within the province of my un-
derstaudng-at least may be presumed to pos
sess knowledge OF tho same. The paper read by
ihe gent leman from Cass being an arttcle of
Ule SulCaHO lQUcF OCeuU, uOeB UOG buy LuaG u
bank, In order to be safe, must be a stock conn
Dany, but it tries to relnOnstrate that bank
which IL examined ard publishes statements of
its resources and Liabilities offers security
to the depOsitor than tho bank which is not
examined and which makes no Statements. OF
course this security will have to exist In the
supposed fact that tho depnsttor has nn oppor.
tnntty TO inform himself of the standing of tho
bank. The fact alone that bank is a stock
company can certainly not be special inspir.
alton OF confidence to u business man. Any
W n nyth ,npu
corporation means limited liability. The gen
| tlcman from Trail inquiries how much capi-
tai Z man must have to enable him to do q
| does MT dictate to any American citizen how
| much capital he must have to 20 into business.
but 1t provides for plan by which We can
| find oMt how much actual capital there Is III
| his business / would also say to the GENTLE
man That the law now upon our statute
| books permits a man to do banking business.
| 80 to say, IN tho name OF the state OF North
| Dakota, with capital of $4,000. which may
consist of an old or new building estimated
to be worth SS2, ,O0O a promisory for So, 900 run
three months, and say $1,000 actual capital
This is the creation by the state Of North Da-
| kota OF II joint stock company for banking pur-
poses with n capi al of $4,000. and Of limited
liability. Is there any sense in such creation?
l can not zee it, and would much preter to deal
with private individual with $4,000 actual
| cash capital ana no absolute liability.
| Mr. White withdrew his motion for indefinite
postponement. and tho motion OF MIR. Gill, maxi
ng house bill LET special order for next
| Thursday at p. m. prevailed.
On motion Of Mr.: Lu 2, II committoe OF four
on the part OF the house was appointed to con-
fer with similar committee from tho senate oil
the differences exis' ing between the two bodies
regarding senate bill 6G, aprropriatiug funds
for the STATE insane hospital
The speaker appointed MesRrs. Richie. Brown,
| Lutz and Walton az such COMMITTEE,
Mr.. Oliver was called to he chair.
House bill 172, allowing civil townships tc
bond for the purpose of. furnishing seed grain
for needy farmers. was passed with out debate
Mr.. Havrevold moved that when he house
adjourns 1t tuke a resess until . o'clock next
| Tuesday. Carried.
MIR. Burke moved to adi ,urn. Lost
Mr. Bjornson moved that the rules be sus.
pended and senate bills II aud 125, amending
the school law, be placed .on third reading,
Carried.
Mr.. Burke agaiu moved to adjourn, "out of ro-
spect to the memory of General Sherman. whose
fune ral is to-day" Ruled ont, because no busi-
ness had been transacted since the last previous
| motion to adjourn
The chief clerk read the title to one of the sem
ate bills. whereuyon Mr.. Burke renewed his mo-
ei0n. This time 1t prevailed. out OF respect to
the memory Of the departed thero the house nd
| iourp