The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-02-10
WANTS BANKS BONDED
MIR. PLOWMAN INTRODUCES A BILL
FOR THE PROTECTION OF
DEPOSITORS
EACH TO FURNISH SURETY
For Double the Amount of DeDoxftx
on Hand at Any One Tfme-Mr.
jacobson Bucks Again When Mr..
Hennessy Tries to Get His Reso-
luton Urging Congress to Sup
port the Steamship Subsidy Bill.

Mr.. Plowman Pop), of Otter Tail is
not a banker and has had no ex-
perfence in the banking line. He has,
however, ideas as to the manner in
which depositors should be secured for
money placed in banks and these are
set forth in H. F. 2S5, which he in
troduced yesterday. The provision of
the bill are as follows:
That all banks and similar institutions
which receive money on deposit in this stats
be, and are under this act hereby required
TO give good aud sufficient bond for the safs
keeping OF and return to the depositors OF to
their order, all moneys deposited; said bonds
to be for at least double the amount of ce-
posts on hand at one time and to be approx
ed by the state board Of bank examiners ard
deposited with the secretary of state.
The names OF the bondSmen and the amount
OF said bond to be kept conspcuously dis.
played in said bank, and to be published
sem1-annually IN a newspaper OF general cir
culatlon in the county where said bank Is
located 1t is further provided that bank
ing Institution or the officers thereof canno,
be accepted arg bondsmen for another bank, OF
for the bank OF which they are officers.
Be 1t further enacted that any banker re-
ceiVins deposits to a greater amount than
enc half Of such good and sufficient bond shalt
be deemed guilty of q misdemeanor and cub
ject TO fine of rot less than s.. go and i'm
prtsonment not less than one year for each
offense.
Provided, however, that pending the ac-
eeptance of said bond and the publication as
herein provided. the institution may con-
unue TO receive deposits without being liabla
to this penalty. provided it keeps posted con-
spicuously on the front deor of said bank and
also over the receiving teller's window a
tice reading as follows: Depesitors' are hot
secured
Any bank failing to furnish said bond with
in thirty days after the passage of this act
or failing to post the afore mentioned notices
''Depositors are not secured " shall be sub,
ject to a fine of not les than 81 eco for each
and every day 1t continues to receive de-
posts.
HENNESSY'S RESOLUTION.
Mr. Hennessy Oem.), of Ramsey,
called up his resolution directing tn ;
Minnesota delegation in congress to
support the Hanna-Payne steamship
subsidy bill. After the resolutic ms had
j been read Mr.. Hennessy moved adop-
ton.
Mr.. Jacobson Rep), of Lac qui
Parle, objected for the reason that not
one in twenty Of the members knew
anything about the bill. The author Of
the resolutions should at least inform
> the house why the representatives OF
Minnesota in congress should vote to
take from $57, 100000 to 100000 600 out
! Of the treasury.
Mr. Hennessey explains the provision
of the bill now before congress- He
took the position that the house was a..
, we'll Informed as to this bill as 1t was to
the treaty when the memorial was re-
Gently passed on this matter. The sub
sidy bill was non-partisan measure
and its passage would be of great bene-
fit to Minnesota.
Mr.. Jacobson insisted that the mem
bers have a more reasonable explana-
ton of the bill before the delega ton IN
congress was asked to vote for it,
Mr.. Dwinnell CRep), of Hennepin
7 favored the subsidy BILL but took the
ground that it was not for the Mime
sofa legislature to advise the rep esen-
tatives in congress about measure the
house mem bers did not understand. He
was opposed to all memorials
Mr.. Hennessy withdrew his motion
and Informed the house that copies of
the bill would be secured for their con-
sideration.
DAY SCHOOLS FOR DEAF.
A. P. Smith, of Jasper, Mimi. pro-
tested against the passage of H. F. 1913.
which provides for the establishment
Of day schools for deaf in special school
districts. In his communication, which
was referred to the committee on
schools for detectives, Mr.. Smith made
the following points:
The school at Faribault was not
crowded: the work of educating the
deaf required special training; the bill
placed the local schools under control
OF persons without experience; grad
ing of pupils would be impossible; the
state school now teaches a trade that
the pupils are adapted to.