Willmar tribune., 1899-07-05


course, do not justify the presence of
one line of questionable merit.
The Objectionable feature of the bill
is the provision which releases the
bondsmen of the banks, without regard
to the amount which would be eventu-
ally received by the state from the
sale of the assets in question. If the
assets of the said banks would have
been sufficient to meet the claims of
the state, as alleged by Mr.. Grue,
there would be no need of giving the
bondsmen an unqualified release, be-
cause their release would avefollowed
as matter of course under the pro-
visions of the bill.
The bill was indefinitely postponed
by the senate, but later the committee
on banks and banking introduced the
following bill, (Senate File 415), which
contains the provisions of Grue's bill,
minus the Objectionable point:
BILL for an act authorizing the auditor of
the state Of Minnesota to bid in the assets OF
the State Bank OF Minneapolis and the Amer
lean Exchange Bank of Minneapolis, and to
dispose of the same.
Be it enacted by the legislature OF the state
OF Minnesota;
State Bank OF Minneapolis and the American
Exchange Bank of Minneapolis shall be offered
orta ror sale at at public auction pursuant to the d.
county! the state auditor, on behalf Of the
state; shall attend and be present at such sale
ana bld upon the said assets, or any Of them,
Al w
vent said assets, or any part thereof from be-
ing sold at q sacrifice; but the aggregate
amount which the auditor may bid for the
assets OF either Of said banks shall not exceed
the value, in his judgment, OF such assets, nor
the amount OF the claim of the state against
SAID nt bank on account OF state funds heretofore
SEC: 2: Whenever the state auditor shall
nave DID IN the assets OF said banks, or either
OF them as providedin in section one, the amount
so bid shall, under the direction OF the district
court of Hennepn county, be credited upon
the indebtedness OF said bank or banks to the
state of Minnesota.
conveniently as may be, to convert into cash
any property SO acquired, either at public or
private sale, or by leasing, and to exc. ute, in
behalf of the state, all necessary deeds, leases
and conveyances, and with the assistance OF
the attorney general, collect sell or compro-
mise, in his discretion, any notes. mortgages,
quired, and to execute, on behalf OF the state,
assignments, satisfactions and releases, in
whole or in part thereof.
SEC. 4. The state auditor shall keep sepa-
rate account OF the proceeds of the assets of
each OF said banks, in the disposal thereof, and
IN the event said auditor shall have bid in the
less than the claim OF the state against such
bank, then any amount which is realized by the
state in excess of the amount so bid by said
aualtor, sha1 be credited upon the indebted
ness OF such bank to the state.
SEC This act shall take effect and be in
force from and after its passage.
The populists of Kandiyohi county
object to Grue's action in introducing
the bill, not so much for the contents
of the bill itself as for the fact that he
did, when in hopeless minority, lend
his aid to propagate legislation for
patching up mistakes of republican,
sttration, which properly would
have been within the province of the
republican majority.
There was a vast field for a minority
member to distinguish himself in in
PRODUCING bills which would have
placed the republican majority on
record, without taking up matter of
this kind.
One of the bondsmen supposed to
have been interested in this bill was O.
prominent Kandiyohi county banker,
Hon. A. e. Rice, an old republican
war-horse, and this has given occa-
sion for the suspicion that Mr.. Rice
and Senator Grue had some under
standing before election by which Mr..
Grue profted in the way of votes, and
by which he was to introduce this bill.
This suspicion is the sole reason for
Hon. Feig's agitation and virtuous (?)
attitude in this matter, and also why
members of his crowd are (fguratively
speaking tearing their hair and COM
mitting ruthless hari-kari. We do not
believe, however, that there are Just
grounds for this suspicion. In the
first place we have Senator Grue's
word for it that there was no such un-
derstanding; and we do not hesitate
to say that while we do not like his
bill, we still believe him honest.
In the second place, our experience
in the last campaign leads us to think
otherwise, While we found number
of republicans, including Mr.. Rice,
who made no secret of their personal
dislike of Feig, we did not find sim
gle instance where these same gentle
men used their influence as against
Mr.. Thorpe and in favor of Grue.
In the third place, common sense
will tell person that the way to pass
bill is not to place it in the hands of
a member of hopeless minority.
F'ourthly, we understand there is not
the remotest probability that the claims
of the state can be collected in full
from the bondsmen, because a great
deal of the money was not legally de-
posted in the banks in the first place.
We are satisfied in our own mind that
Mr.. Grue's action, while ill-advised
and impolitic, was not inspired by inn
proper motives. We have stated what
we know about this matter in frank
manner, not SO much in reply to Mr..
Feig as for the reason that,we had in
tended to make the statement in any
event and that ourreaders are entitled
to: know the facts in the case. ~ 4.
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Please explain, also, why Sen. i /
ator Grue voted to open the prison
doors for the Younger brothers,
withstanding we have a board 4
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