The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-02-15
BANKERS IN D|SREPUTE
House Kills Senate Bill to Take
Bonds For Cash Reserve.
WILL BE REsURRECTEr
BILL PASSED FOR WINTER STUD
les AT THE A. C.
Proposition to Locate a Branch of the
Agricultural College in Southern
Utah-State Wants Quarter of
All Liquor License Revenues
Proposed New School Law.

Banking interests and a senate bill
pertaining to banks were accorded an
uncharitabla reception in the house of
representatives yesterday afternoon.
AS soon as senate bill No. 9, introduced
by Senator W. G. Nebeker, came up
for consideration as the special order
for the day, about a score of the house
members whetted their knives, so to
speak, and went after the senate meas
ure and the banks, in whose interest
the bill was offered. The bill proposed
to amend the law so that private and
corporation banks of the state may
have the privilege of investing their
reserve funds in Understanding gov
eminent bonds
Representative. N. j. Harris was the
first to make known his opposition to
the bill. He moved to strike out the
enacting clause, but several of his col
leagues expressed the opinion that such
a method of killing the bill would be
an act of discourtesy toward the SEN
ate, and might invite retaliation by the
other branch of the legislature on
meritorious house bills.
Seeing danger ahead for the bill
Speaker Roylance called Representa-
tive Stewart to the chair while he went
III liz iAOOl anu. ny lQClQ
worked to save Nebeker's measure from
what he deemed an undeserved fate
Representative Smith moved to strike
out the clause allowing investments Of
available funds in government bonds
Th1s clause was the very essence of the
bill. Representative Bywater proposed
an amendment by striking out three
| lines, making the law read that
banks available funds shall consist of
cash on hand and amounts due from
| solvent banks. Mr.. Smith offered to ac-
cept the amendment, but his second,
Representative Law, refused to give
his consent.
Mr.. johnson took whack at the bill
by saying it was preSumptuous on the
part of what he termed the poor bank
ers who wanted help from the legisla-
| ture so they could make an honest liV-
ing.
Representative Bennion maintained
that government bonds are better than
/ greenbackS for reserve funds.
Mr.. Cook declared that the bill would
result, if passed, in all the banks hold
/ ing bonds, instead of cash, to meet the
/ needs of depositorS whenever heavy
| drafts were made.
| Representative Lloyd expressed sur
prise that Populist theories and an
tagoniSm to banks should be so freely
displayed on the floor.
Representatives Hansen, c. u. Har-
ris and Farr favored the bill, while
jackson, Cummings, Fisher, Richards,
Law, n. j. Harris and Callister opposed
! it on the ground that il was an unique
measure with vicious tendencies that
would not afford proper protection to
depoSitors.
The motion to strike out the enacting
| clause was lost, as was also Mr.. By
waters amendment; but Mr.. Smiths
motion to eliminate the all-important
feature of the bill was carried by a
vote of % to 10. The effect of the vote
on Smiths motion was to leave the bill
an exact copy of the present law When
/ this condition was revealed, half
dozen votes were changed from yes to
no. resulting in the defeat of Smiths
motion.
The bill was then placed on its pass
age, but it failed to pass. Only four
teen voted for it. Representative
Bennion, Bywater, Crosby, Farr, Han
sen, c. u. Harris, Horne. Lloyd, Nc
Quarrie, Parry, Redd, ROylance, Stew
art and Wheeler voted in the affirma-
tive.
Mansfield gave notice that he would
move for reconsideration today.
WINTER COURSE Or STUDIES.
House bill No. %, by Holmgren, pro-
viding for the establishment of a win
ter course of study at the agricultural
I'VE calendar months
from Nov. of each year, was taken UP,
discussed at great length and finally
passed. There were only two negative
votes, those of Representatives Farr
and Mansfield. The bill was inartistic-
ally drawn, in that it did not make it
mandatory on the governing board of
the agricultural college to arrange for
the intended short course. Represen-
tatiVe Jackson sought to correct the
error after the bill had passed, but OBJ
lection was raised, whereupon Mr. !
Jackson gave notice that he would
move a reconsideration today.
The bill was opposed by McQuarrie,
Farr, Richards and Mansfield because
of the appropriation of $4,000 carried
in it, but this Objectionable feature was
stricken out.
A motion made by McQuarrie to
strike out the enacting clause was lost |
Holmgren, Lloyd, Robinson, Parry, |
Sorenson and Fisher raised their voices |
in support of the bill, which they deem
ed a meritogious measure and one cal
culated to afford educational oppOrtu-
mites to young men who can not leave !
the farm longer than during the winter !
months
Representatives Howe and Bennion
expressed the belief that the present I
law granted the necessary authority to I
the agricultural college governing |
board.
Mr.. Mansfield stated his objections to |
the bill to be that young men from the |
farming communities should be encour-
aged to better eXertions and highed ed |
vocational aims. Instead of continuing /
to pay out state funds at the rate of |
500 per pupil in the higher educational |
institutions, the funds from state taxes
at the rate of IS per pupil should be |
increased to such an extent that the /
country district schools could be graded /
to higher standards. He preferred such |
a plan to trying Mr.. Holmgrens ex-
pertinent at the agricultural college.
BILLS INTRODUCED.
House bill No. 81, by McQuarrie, to
establish a branch of the agricultural
experiment station in the southern part
of the state. The bill provides that the
president of the board of trustees and
the president of the agricultural col
lege, together with one other person to
be appointed by the governor, shall
constitute a commission whose duty
shall be to determine, within four
months from the passage of the act
upon a site for the location of the
branch institution, but as a. condition
precedent to the location, the city or
county in which the commission de-
cides to locate the same shall reat in
the state a good title for lands suffi-
Gent for the successful operation of |
the branch institution. Upon accept
ance of title the state shall establish
the branch institution by erecting suit
able buildings and maintaining school
therein under the direction of the trus-
tees and faculty of the parent agricul-
tural college. The bill carries an ap-
-i@,fi Of 70 eff to