The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-02-25
HIS PERSONAL FIGHTS CUT A BIG
FIGURE IN THE BANK
FIGHT.
MILWAUKEE, ROADS DENIAL.
CLAIMS 1T Is NOT DISCRIMINATING
AGAINST ST. PAUL AND MIN
NEAPOLIS.
Senator Thompson's Measure to En-
courage Country Schools, Goes
Through.

The senate yesterday started in ear
nest after the alleged discrimination
OF the Chicago, Milwaukee & ST. Paul,
against the Twin Cities in favor Of
Chicago on it's Southern Minnesota
branch; gave the Wyman banking bills
a hard run and sent them back to the
table, and made AN heroic, although
not eminently successful, effort to clear
up the daily frightening list of general
orders
When this last order of business was
reached it precipitated debate which
took up the greater part of the day.
Senator Wyman moved that S. F.
lis, giving the public examiner addi-
tional help and larger appropriation.
be recommended to pass. Senator Cul-
kin said the department had been a
source of great disappointment to the
people of this state. 1t did not give
the depositOrs any protection that he
could see. Not even in the case of
the most corrupt banks in the state
had this public examiner raised the
danger flag. What protection would
it give to the poor depositors to put
two more $1,S00 a year clerks in the
basement of the capitol?
Something should be done to pro-
tect the people who did business with
banks, but he did not think this was
the bill that would do it. He believed
that the protection would be found in
the salutary provision that no active
officer of any bank be permitted to
borrow money from that bank. He de-
plored the striking out of the double
liability clause by the legislature of
1eso, and said that the anxiety of some
OF the senators to protect the stock
holders still apparent was not over
looked when the act of 1895 was pass
ed.
Senator Wyman said the clause re-
1erred to had been stricken out in 1895,
out 1t was a discrimination against
the state banks in favor of the na-
uonal and private banks.
senator thompson said he was in
clined to the position taken by Senator
Culkin.
Senator Greer said that the same
department which had drawn the ex-
listing laws was complaining now of
their inefticiency. While he had the
greatest respect for the public exam
1ner himself, he had recently visited
mat Office and found four clerks SET
ting around not doing much of any,
tnlng. He did not think the real need
was additional office help. Indeed, he
felt that it was not the frequency of
examinations that was the safeguard of
the people; it was the enforcement of
the restrictions thrown about the banks
by the law
1t was well-known fact, he said.
that the examiner had known Of the
rotten condition Of the Guaranty Loan
Iong oefore it failed, but he had not
warned the people,
Senator Greer thnY tool I'M Tho ,o,,o.-4
OF the bank examiner, and pointed ont
that the report had mixed up the banks
leaving IN the list of failed. a bank
winch mad not failed, and left out of
the failed the bank which really had
gone bump.
Senator Miller said the state had
plled more work on the department
tnat it could care for with its present
force. -
Senator Culkin said the national
banks were safe, because the law was
PETER. Senator Wyman retorted that
II the Judiciary committee of the SEN
ate would not declare his bill a strono-
er measure than the national banking
law, he would vote for almost anV
measure that the senator from WRIGHT
could propose. 10 IL
me noon recess interrupted the dis
cCssIOn and for two hours the friends
OF the Dill put in g, busy time lobbying
III us pehaif. 1t was so nearly in vain
however, that in order to prevent the
immediate slaughter of the bill Senator
Wyman moved that when the com
mlUtee rise it report progress Senator
howard however moved to recOmn1it
and this was done with the addition
by Senator Greer that the COMMITTEES
on banks and banking report also the
needs of the department for the en-
forcement Of the present laws and also
on the accessibility Of creating an ex.
aminer Of banks and public accounts
for each congressional district The
resolution was considered later in the
day, with similar, but more compre.
hensive substitute by Senator Wyman
giving to the committee the right to in
VestiSate everything but the personal
unpOpularity of the bank examiner.
which he would concede. The substi-
tute was adopted.