Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1896-12-27
GUARANTY FOR STATE BANKS
Scheme by Which Depositors May Have
Unusual Protection,
RESERVE FUND TO De HELD BY THE STATE
4 Smnil Percentage of thc Deposits 10
lie Invested in Securities for
Use Ia Cases Of Emcr-
gcnciCs.

Il.NbOlssNt IJeC Eb,--l lSlJ'.-OnC OF i.lC
measures which is quite likely to divide the
attention Of tho members OF the next lcgis-
lature will be a bill INTENDED to proven;
panics and restore confidence OF the peo-
pie in the state banks of Nebraska. Funda-
mentally the proposition Is to levy an as
sessment OF onc-half OF / per cent CT the
average deposits u each state bank, the
total Of which is to be Il general fund to
protect depositcjs in any state Jonk which
may happen to fail. II Is proposed to de-
post this fund with the state treasurer and
whenever the amount reaches $4,000 or over
IL lis to be invested in United states bonds.
The reason for selecting these bonds is that
they are the most available In case cash is
required Immediately. as a United STATES
bond can be attached to draft drawn on
any New York or Chicago bank and tho
money quickly secured to protect dopositors.
II is estimated by the secretary OF the State
Banking board that one half OF per cent
would DO ample TO create protective fund
of this description. and perhaps one-fourtn
of l per cent would do 1t. 1t rcight be
arranged so that the banks could receive
the interest on the government bonds, and In
case bank closed up its business, paid of
all depositors and retired there would be no
loss to it, as the deposit would then be re-
turned to 1t. II is considered by the advo.
Gates Of this measure that 1t is much safer
and in every way more expeditions than the
slow and uncertain process of recovering
from bondsmen. Under such law all the
state banks would become insurers to de-
positors in any other bank, and thus would
be established mutual interest.
LAWYERS GET THE CASH.
There is u fair prospect for the whole Of
the $1,000 reward offered by the Rock Is
land Railroad company Tor the conviction of
the man who wrecked tho train in August,
lao. ft, lat. nruf Ia
distribution lately made by the district court
OF the money between five or six claimants
has engendered considerable hard feeling
and three of the claimants propose to test
the legality Of The division IN the supreme
court. Already attorneys liens have been
filed against the bulk of the reward and it
looks ii those to whom it was given will
get nothing In the end.
The funeral of Charles E. Alexander, late
city editor of the Lincoln News, Will occur
from tho Fist Baptist church at o'clock
Sunday afternoon, Rev. Mr.. Rowiands Off
ciatng.
According 10 n special order issued today
from the Office of the adjutant general, the
election of Robert G. Adams as captain and
Charles l.. Barber as first leutenant OF com.
pany b. First regiment, Nebraska National
Guard, Decembe" 10 at Fullerton is APP
proved The oiicers named will be duly
commissioned next week.
Theodore Mawn, eX-county clerk Of Harlan
county, is now prominently mentioned as
the most probable successor OF Nelson Nc
Dowell, who for eighteen years has been
bookkeeper in the office of the secretary OF
state.
The Lincoln Life association has recently
added to its force Milton NJ White as chief
bookkeepor. MIR. White was for many years
connected with the state auditors Office
as bookkeeper, the position held BY
Mr. Babcock.
Several days ago one Darrell Fast of johns
town, Brown county, preferred charges OF
malfeasance in office against Arthur Scat
tergood. notary public In Brown county and
cashier Of the Bank OF YOUNGSTOWN. The
charges supported by affidavit, accused Scat.
tergood OF having deceived Fast in relation
to $l45, which Fast supposed he Dor
rowing of one William Ruxton, when in
reality he made to give mortgage &c
the bank of Johnstown, which was recently
foreclosed by the bank. Today the governor
received letter OF explanation from Scatter.
good accompanied by affidavit, in which he
appears to give a good showing of his case
to the governor. The governor has not yet
completed his investigation of the mattel
and reserves his decision.
Articles of incorporation of the Chase
Land company were filed today with thC
secretary of state. The incorporators are
Champion S. Chase, Clement Chase and Lula
b. Chase, with principal place of business
at Omaha. The company will transact
general real estate business and the capital
stock is placed at 100000.
Omaha people in Lncoln At the Capital
w. S. Widenor