The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-02-11
KANSAS LEGISLATURE.
Senate Recommends a Building
and Loan Association Bill.
Puts Such Companies Under
Control of Bank Department.
a Pure Milk and Butter Bill Also he
ported Favorably-Legislatlve N oTes'

The a,tira fine of the senate yester-
dav afternoon was taken up by the con-
sidera tion of bills as a committee OF the
whole The following bills were rec
commended for passage;
The building and loan company bill,
prepared by Senator Crossan, which
provides that all such associations do
ing business in the state shall be under
The supervision of the bank commits
si0ner The act also provides that any
number of persons, not less than %.
who are residents of this state, may as
sOciate themselves together by an
agreement in writing with the intention
of organizing a corporation for the pur-
pose of assisting each other, and all
who may afterward become associated
with them in acquiring real estate,
making improvement thereon and re-
moving membranes therefron. And
that when the savings and profits aris-
ing from the payment of periodical IN
stallmentS reach a certain sum per
share to be specified in the articles of
agreement, the association shall be-
come a corpora ton.
be the accumulation of capital in mon
ey, to be derived from the payments
by it's members in periodical install
SnentS. and the profits arising from the
investment of the same. Such capital
not to exceed ten million dollars, to be
divided into shares of equal value, this
value not to exceed $1,000 per share. The
moneys accumulated by such corpora
ton may be loaned or advanced to such
shareholder or shareholders who shall
bid the highest premium for the prefer
ence of right to have the loan. the pre-
MUM to consist of percentage on the
amount to be loaned. For every loan
or advance made, q negotiable note or
bond, secured by first mortgage on real
estate, accompanied by a transfer and
pledge of stock, must be given.
The matured shares of such corpora
ton shall be paid out of the funds OF
the corporation, provided, that at no
time shall more than one-half the funds
in the treasury be applicable to the
payment of the matured shares.
Any foreign building or loan asSOcia-
ton doing business in this state shall
conduct its business in accordance with
the laws governing domestic assOcia-
tons, after procuring from the bank
commissioner certificate of authority.
To procure this certificate, any such
foreign corporation shall deposit with
the bank commissioner the sum of $25,-
600, in cash or in bonds, and file writ
ten statement agreeing that summons
may issue against 1t from any city or
county in the state and be served on the
Bank Commissioner.
By Senator Hanna-An act to prevent
deception in the production and sale of
milk and to prohibit the sale of oloe-
margarine as butter.
This bill makes it a misdemeanor for
any person to sell, deliver exchange or
offer for sale for human consumption,
unclean, unWhOlesOme or adulterated
milk or milks from a sick or diseased
COW, or milk from a COW fed on the re-
fuse of distilleries, or milk from which
has been kept back what is known as
''strippings."
Any person, by himself or by his GER
want or agent, who shall compound or
manufacture, or knowingly sell or offer
for sale, any substance or compound for
human food, made wholly or partly out
of fat, oil or Oleaginous substance, not
produced from pure milk or cream
which shall be in imitation of butter or
cheese, shall be subject to- a fine of not
less than $50 or more than 5000. Pro-
vided, that this provision shall not be
construed to prohibit the manufacture
or sale of any article in a separate and
distinct form, and in manner that will
advise the consumer of it's real charac-
ter.
The bill also makes it a nnisdemeanor
for the keeper of any hotel, boarding
house, restaurant, or place of public en-
tertainment to serve as food any COM
pound of CseaginouS substance in i'm
itatiOn of butter or cheese.
By Senator StOcks-An act giving to
graduates of the law school of the state
university the authority to practice Law,
in the district and all inferior courts of
the state of Kansas.
By Senator Farrely-An act requiring
road overseerS of all townships to en-
force the cutting of the brush and
weeds along all public highways in the
state