Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1899-02-02
MoNulty, o'Day, Rose, shallcross and

Taylor.
On motion Of Representative Hushe-
beck, the bill was recommitted to the
committee on judiciary.
BnIsTLEs WITH SINGLE TAX IDEAS.
Representative Hushebeck will in
troduce an act requiring banks and
other corporations to give notice of
unclaimed dividends, deposits and bal
ances in certain cases. The bill, which,
it is said, bristles with Single Tax
ideas. is as follows:
Section /. That each of the banks,
saving institutions. loan companies and
insurance companies and each and
every other of the companies. institu-
tions or associations Incorporated by or
upder any law of this State, and legally
authorized to declare and make divi-
dends of profits amongst the stock
holders thereof, shall In the month Of
December in the present year, and an
nually thereafter, cause to be published,
for two successive weeks, in one or
more public newspapers, having the
largest circulation, printed in the city
or county in which such bank, savings
institution, loan company, insurance
company or other company, institution
or association may be located or in
which its principal Office or piaco OF
business may be situated, trus and
accurate statement, verified by tine oath
or affirmation of the cashier or treas
urer thereof, of al dividends or profits
declared on its capital stock, which,
ut the date of such settlement, shall
have remained unclaimed by the per-
son, partnership or corporation
authorized TO receive the same, for the
| period OF three years then next proceed
ing: which said statement shall set
forth the names and, il known, the
residence and business Of the persons,
partnerships or corporations in
whose favor said dividends or Profits
may have been declared, the amount of
such dividends or profits, and the num-
Der of shares in the capital stock upon
which the same had accrued
| Sec. 9 That each of the said banks,
savings institutions and loan com
panies and each and every savings fund
society, insurance or trust company,
or other company, institution or asso-
citation, incorporated as aforesaid, and
legally authorized to receive deposits
| of money, shall, in the said month of
December of the present year, and an
nually thereafter, cause to be published,
| in like manner. and for the same period,
n statement, verified as aforesaid. of
+, the names, and, il known, the resi-
dence and business of all persons, CO.
partnerships or corporations who have
made deposits therein, or have bal
ances due them, and who have not,
within the three years then next pre-
ceding the date Of said statement,
either increased or diminished the
amount of such deposits or balances,
or received any interest thereon, with
| the dates when snch deposits were
made, or balances accrued. the amount
| thereof, and the amount of interest, IL
any, accruing thereon.
Sec.3. If any such bank, savings in
stitution, loan company. insurance
company or other banking institution
or association, incorporated as afore-
said, shall neglect or refuse to publish
the statement herein before required to
be published, the same, and the cashier
or treasurer thereof, in his individual
capacity, shall be liable to the party in
whose name such unclaimed dividends,
profit, deposit or balance may stand,
or to his, her or their legal representa-
tives, for the amount thereof, with in
terest thereon, at the rate of IL per
cent per annuin, from the date of such
dividend, profit, deposit Or balance until
paid, recoverable by action Of debt as
in other cases; provided, that nothing
herein contained, shall be so consigned
as to require the publication of any
such unclaimed dividends or profits
amounting to less than So nor such I'm.
claimed deposits or balances, amount.
ing TO less than $40.
Sec. 4. That at the expiration oil
three years after the first publication
Of any particular dividends or profit,
balance or deposit, with the interest
that has accrued thereon as provided
, by the first and second sections of this
act, such dividend or profit, balance Oh
deposit, with the interest that ha:
accrued, if not demanded within thai
time by the rightful owner or owner;
, thereof, Or their legal representatives,
shall escheat to the State, and shall bt
, paid into the treasury thereof without
discount or deduction for commissions,
fees or expenses of any description by
the cashier, treasurer or other propei
officer Of sGid bank, savings institution
J loan company, insurance company, say
ing fund society Or other company, in
7 stitution or association, in which suci
/. dividend or profit, balance or depcsi
: shall have remained without being de
: manded, rs aforesaid, or without beini
. increased or diminished for tho length
{ of time aforesaid; and the said bank
S savings institution, loan company, in
r surance company, Saving fund societ.
or other company, institution or asso
citation, as the case may be, shall there
upon be discharged from any obliga
; ton or liability TO pay over such divi
dend or profit, balance or deposit, o
i interest thereon, to the owner or owner
! thereof, that the said owner or owners
Z or their legal representatives, upon ap
: plication to mo State treasurer, for tn,
time being, and producing satisfactvr
!, proof to that officer of his, her or thei
right to such dividend or profit, bal
. ance or deposit, with the interes
! thereon, paid into the treasury a
!, aforesaid or any part thereof shall re
: COVE from tho State the amount lie
y she or they shall DO found legally o
; equitably entitled to. Provided, tba
. the expense Of the publication o
? publications required by this act, shal
= be paid out of such dividend or profit
:, balance or deposit SO published.
8 That it shall be the duty OF th
= cashier of any such bank, on the frs
" Monday i'll January of each year, /
= cause to be forwarded to the auditor {
- accounts, certified list of the name
I, OF any persons having unclaimed div
:, dends or deposits in such bank, whic
- shall have remained unclaimed Il
~ three years, or the amount of whic
- has neither been increased nor d
~ unfinished for the period OF three yeal
- next preceding.
y Legislatire Attorney Polk, By reques
\, will prepare a bill emhodying some
~ the features of REPRESENTATIVE Hush,