The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1897-04-02
WITH THEBUSY LAW MAKERS
SENATE PASSES SETERAL SAYINGS
BANK BILLS.

ported-Other Matters.
The senate yesterday morning passed
number of bills relating to the man
agement of savings banks and trust
companies, among them being an act
concerning the surety bonds of cashiers
of banks and treasurers of trust COM
panies. 1t reads as follows:
'The cashier of each bank and the
treasurer of each trust company shall
give bonds in the penal sum of not less
than ten thousand dollars, payable to
the bank or trust company with suffi-
cient sureties, accepted and approved
by the directors or trustees, for the
faithful performance of the duties of
their office. Each cashier and treasur-
er shall give bonds to the acceptance
and approval of the directors or trus-
tees as often as once in every period Of
six years from the date of giving the
last bond. The bonds of such cashiers
and treasurers shall forthwith be re-
corded at length in the books of said
banks and trust companies, and shall
at all times be subject to the inspection
of the bank commissioners.
1T shall be the duty Of the president
of each bank and trust company to
safely keep the original bonds so given,
and he shall certify on the records Of
the bank or trust company that the
copy thereon Is the same as the original
in his possession. No president, direc-
tor or trustee of any such bank or trust
company shall be surety on the bonds
of such cashiers or treasurers, and all
sureties shall be residents of this
state"
There is also section requiring that
every institution heretofore chartered,
or that shall hereafter be chartered,
and which is required by law to report
to and be under the supervision of the
bank commissioners. shall notify said
commissioners Immediately after or
ganizing and commencing business.
There is no provision made in the bill
for the punishment of those who neg
lect to comply with the provisions Of
the act, and it will probably be inopera-
tive.
1t has been the custom in the case Of
fidelity surety bonds of officers of banks
and trust companies to incorporate the
of the institution, and the system has
been long felt to be a cumbersome one.
The following bill passed the senate
yesterday and is intended to relieve the
situation:
The bill reads that whenever under
the provisions of sections 1884 and 1916
of the general statutes it becomes nee
essary for cashier of bank, treas
urer of trust company or a treasurer
of savings bank to give bonds for the
faithful discharge of his duties he may
give bond in which any company or
ganized under the laws of this state
or chartered by any other state to
transact fidelity insurance, or corporate
suretyship, and authorized to do busi-
ness in this state, may be surety, or
may be jointly and severally bound
with such cashier or treasurer.
Such bond shall be to the satisfaction
of the directors or trustees and accept
ed by them.
A memorandum shall be made In the
books of the bank, or trust company,
or savings bank, giving the name of the
corporation issuing or joining in such
bond; the number and date of the same.
and the name of the person whom the
surety is for.
memorandum shall also be made in
said books Of the certificate renewing
such bond.
Said bond and renewals shall be kept
In the custody Of the president, who
shall certify on the records of the bank,
or trust company, or savings bank, that
the bond and renewals thereof are in
his possession.
The bank commissioners may at all
times inspect any such bonds and re-
newal certificates.
Upon the explanation of Senator
Warner of the judiciary committee the
following substitute for house bill re-
lating to injuries upon the public high
ways from bicycles, was offered. The
text of the bill is as follows:, Any
person who, while riding on or propell-
ing bicycle or other vehicle or instru-
ment of that general character, shall
run against, upon or over any person
upon the public highway, or the prop
erty of any person in his personal pos
session or use, in such manner as
to such person or property, and shall
not stop at once to ascertain the ex-
tent of such injury and to render such
assistance as may be rendered, or shall
refuse to give his name and residence,
or shall give a false name or residence,
when asked for by the person so injur-
ed or by any such person in his behalf,
shall be guilty of a misdemeanor, and.
on being convicted thereof, shall be
punished by fine of not over $500 or by
Imprisonment in the county Jail not
more than six months, or by both such
fine and such Imprisonment at the dis
cretion of the court
The act relaing to disclosures made
by persons convicted of intoxication
was repealed, Senator Tuttle explain
ing that the law had never been in sue
Cessful operation and that intoxicated
persons made statements against per-
sons who had refused to sell them Ii
quor, and it was the experience of at
tOrneys that this was the rule rather
than the exception.
The bill providing that the net in
come of any savings bank in excess of
a sum equal to one-eighth of one per
centum of its deposits, actually earned