The Montgomery advertiser., 1901-07-16

J MT. Malone-I move to lay tne suu- stitute on the table. l A vote being taken on a division, by 61 ayes to 9 noes the substitute was laid on the table.
 l Mf. O'Neal-I now move the previ- ous question on the Section and the amendment.
 A vote being taken. the main Ques- tion was ordered.
 Mr. heflin (Chambers)-I move to table the amendment and the original Section.
 The Presidential is too late after the previous question has been ordered. The question is on the adoption of the amendment of the delegate from Eto- wah.
 Mf. Heflin (Chambers)-I hope the Convention will indulge us just mo- ment. A good number of delegates voted a moment ago thinking they were striking out this Section.
 The President-Those same delegates will be able to express their will on the adoption of the amendment.
 MT. deGraffenreid-On the adoption of the amendment I call for the ayes and noes.
 The call was not sustained. and a vote being taken the amendment was adopted.
 MT. Harrison-If this matter is adopted it ought to be correct. and it ought not to be left in language that would apply to national banks. The language is very broad.
 Mr. O'Neal-The great argument of the National bank is that they are required to bs examined.
 Mir. Harrison-By National bank ex- aminers. but they are here required to be inspected by State officers. l favor the report but this matter ought to be corrected.
 MT. Boone-l rise to point of or der. The previous question has been ordered and it is not debatable. A vote being taken the Section as amended was adopted.
 Mr. Rogers-I vote aye fer the pur- pose of moving a reconsideration of this Section tomorrow morning.
 MT. Sanford Pike)-I was rising to give notice for that same purpose.
 Mir. Reynolds (Chiton)-I have an additional Section to offer.
 The amendment was read as follows:
 Amend the report of the Committee on Banks and Banking by additional Section. to be known as Section g as follows: Sec. g. If necessary for the payment of any creditor or depositor of an incorporated bank, each holder of stock therein shall be held liable for double the amount of stock held by such stockholder in said bank
 Mr Reynolds (Chilton)-I was member of the Committee on Banking and l reserved the right when the Committee reported to offer this amendment at the proper time It was not the views of the entire Committee. but some of the Committee agreed with me on this question.
 | When men associate themselves to- gether and organize a bank and hold it out to the world as place to re- ceive deposits and to take care of the peoples money, I see no reason why the law should not at least make them partly responsible for failures when the peoples money is squandered. A corporation can be organized with $25,- OOo Of capital and pay the President 5000 and the Secretary $40e0 and in few years they have nothing left but tin box. An advertisement of bank carries with it that it is 8 place of safety to deposit money, and banks of an insolvent or unsafe character gen. erally get the money of poor people and widows. Nobody who investigates puts their money there.
 It Is an everyday occurrence that Presidents of banks are skipping out, and wheel people put themselves up as having bank, a place of deposit the law cannot be too strong in taking care ) of the money that is deposited with them. People put their money in a } bank without hope of reward, they draw no interest and they place it there simply for safety. that it may be ta- ken care of. and the money that is . generally lost is money belonging to people who can the least afford the , loss. Business people for two years before the failure of a bank have been 5 keeping clear of that hank, and it is n0lt f1o 70 } ows that is left there to be lost, and } l can see no reason why the law of our State should not at least make ? stockholders of a bank partly respon- sible for the money deposited in their s bank.
 MT. Knight-I move to lay the amendment of the gentleman on the table.
 t A vote being taken by 4s ayes to 30 , noes on division the amendment was 5 tabled.
 MT. Williams (Marengo)-I have an 2 amendment to the Article. l The amendment was read as follows: \ Amend Article on Banks and Bank , ing. by adding Section -. That the ? provisions of this Article shall apply to all banks trust companies and in dividuals doing a banking business, , whether incorporated or not.
 Mr. Fletcher-I move to lay the amendment upon the table.
 Upon vote being taken a division | was called for. whereupon a reading I was demanded.
 Mir. Williams (Marengo)-It has been suggested that I insert in there except l National banks" If I can get unani- s nous leave to insert except National Banks" l would like to insert it. MT. Parker (Cullman)-A point of or | der The vote has been put, and a 7 division called for.
 Upon vote being taken, the motion to table was lost. , MT. O'Neal Lauderdale)-I desire to offer an additional section. f The President-The question is now 7 on the section offered by the gentle man from Marengo. The House has declined to table the section. , MT. Williams (Marengo)-I ask unan- . imous leave to insert the words lex cept National Banks" f The leave was given, and the amendment made.
 The President-The question is upon , the adoption of the section offered by 1, the gentleman from Marengo. Y MT. Winn-It seems to me that the . action of the Convention in reference , to banking in this State and State : banks. is somewhat nasty and incon- : sideRate. Let's take it practically and see what is the result. You talk of
 doubling the responsibilities of the