The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-11-17
DEPOSITS OF The STATE.
4 Claim That They Are Unequally
Distributed Among the Banks.

Two Banks Whose officers Are on the
Bond of the State Treasurer Partic-
ularly Lucky-Senator Persons In
PRODUCES a Bill Providing That the
Deposits be More Equally Divided
and That No Bank Shall Retain
Funds Greatly in Excess of It's
$4,000 Bond.
Atlanta, Ga. Nov. 16.-The sensation
at the capitol to-day has been the lobby
discussion over the bill by Senator Per
sons. looking to the regulation of state de-
posits in the various state repositories.
Senator Persons was a member Of the
committee 10 examine the books of the
state treasurer. The investigation dis
closed the fact that some of the deposit
cries had great deal more money than
others, that small balances were left in
some banks and very large ones in others.
At the time of the investigation Of the
Third National Bank OF Columbus, J. w
Murphy, the cashier, had in hand 500
600 of the states money; the bank
at Lagrange, Mr.. Speer president, had on
hand $4,000 and the depository in At
lanta, the Atlanta National Bank, had
S160 600. All banks gave a bond for $50,
900 so these banks had a large sum in eX-
cess of the security they had given the
state No question was raised as to the
safety of the states money, but the fact
that Cashier Murphy, Of the Columbus
Bank, and President Spcer, of the
LAGRANGE Bank, are upon the bond of
State Treasurer Hardeman brought on a
of a1 N tho limo that
are favored, in fact do
large business on the states money as
capital, for which they pay no interest
NO REFLECTION INTENDED.
Senator Persons says the bill means no
reflection on the state treasurer, but is to
better protect the state. 1t proposes that
no state depository shall retain any such
difference between their bond and the
amount in state funds. The bill proposes
that the money be more equally distribu-
ted among the state repositories, and in
the event that the total deposit exceeds
the amount designated, to give each de-
pository $4,000, then the money
shall be kept in the state treasury
There has been outspOken complaint
from the less favored banks. 1t is also
claimed by friends of the bill that there
will be no need for any other bill to raise
money to pay teachers monthly, or any bill
tion.
The state treasurer has balance from
January to January of at least S400 900,
and instead of allowing the repositories
to keep it and lend it out at interest the
treasurer can be required to pay it out to
the teachers. 1t gives a bank a tremen-
dous capital when it can operate the year
round on 100000 of the states money
free of charge. The bill has met with
general commentator and the outlook
is that it will pass without opposition.
1t is a business measure that stands on
very plain merits.
TOO MANY ELECTIONS.
Mr. Graham, of Appling, thinks there are
too many elections in Georgia, and this
morning introduced a bill to change the
time for electing congressman from Tu es-
day after the LIST Monday in November
to the LIST Wednesday in October. The
general election in which members Of the
legislature and state officers are selected
takes place on the first Wednesday in
October The people. as a general thing,
turn out very largely on this election, but
they will not turn out for the election for
congressman and other national elections
occurring so soon afterwards. Many con-
gressmep favor the change, which pro-
vides that the state and national elections
shall 10th occur on the same day, the
first Wednesday in October. This would
be the means Of having a full vote polled
for members of congress.
Among other important bills introduced
were the following:
BY Mr. Fleming, of Richmond Pro
viding for three commissioners appointed
by the governor, to codify the laws of
the state.
BY Mr.. Martin, of F'ulton-Authorizing
judges of the superior and city courts to
cut down Verdicts 10 damage cases when.
in their opinion. they are excessive and
when new trials have been applied for
MIR. Guerard, of Chatham, introduced a
resolution providing that counties which
pay less tax money into the state treas
ury than they receive in return from the
school fund shall receive only s per cent.
of the taxes paid in.
The Senate passed the bill ordering
that all cOuvicts in the penitentiary, who
were sentenced under the law providing
for different terms of punishment than
the law now IN force, be discharged if
they have served as long as the law now
in existence fixes the penalty. If the gov
ernor signs the bill there will be num-
Der of hearts made glad that are now sor-
rowing in the penitentiary.