The Montgomery advertiser., 1903-10-04
WITH THE CLOCK STANDINGl5fILL
 LEGISLATIVE SESSIos OF 1903 ENDS
HOUSE SIGNALIZES CLOSE
 BY PASSING THE BANK BILL

Mir. Handiey of Randolph. recounted the history of the old State banks which were started in 1S23. and lasted until 1Sli, when the whole system went to ruin. The whole State was reviewed. It was the hardest times Alabama had ever seen. The State issued $s,00o,0e0 in bonds be- cause of the crash and the people of Ala bama were to this day paying interest on these bonds 6a&
 He read a list of banks which had failed in the past few years, amounting in all to twelve.
 Handley on Cornwell. Does not the bank which suspen6s stand better chance for paying out than the bank which is forced into bankrupt cyl" asked MT. Hoffman of Mobile, T don't know" replied Mir. Handley. but do know that we had in the Con- stitutional Convention a man. a banker who fought continuously against putting any word in the Constitution about tine examination He fought in evesy way he knew how. And where is he now? He Is in Mexico and the people of Bessemer are suffering the loss of two or three hum dred thousand dollars"
 The reply brought forth round of ap- plause.
 The apprehension that some of the mem Ders felt that the State officials would impose upon banks he did not share. Tne State. he said. had wise Governor. a conservative Governor and le endorsed him. The fair and square thing to do, he said. was to pass a bill which would protect the rights and interests of the people of Alabama.
 MT. Hoffman of Mobile. spoke against the Simpson substitute. which, he said, x.ra- ~ts fr. A. Anx infttee bill This bill, he sald, purportcd to be bill for the examination of banks, but it was in fact a bill regulating banks.
 MT. Rushton of Crenshaw. said that he favored examination, but he opposed regulations. He did not. protest against examination. but he protested against regulation It put over 900 banks in the hands of one man. He was opposed to centralization in power.
 Hickman for the Substitute.
 MT. Hickman of Jefferson made an The opponents of the bill had not fought fairly and had not come out in the open. he declared. MT. Lussk he said, had attempted to arouse the prejudice of the members by comparing the bill to Repub- lican legislation. Bankers were in the business to make money and not for their health. The argument that they W0AO hoah6 Uta9tiACBb TUT pHltdIlLnTOplC purposes was faliacicus. He moved the previous -.--~tion which the House or dered. H " 7s X The substitute of Mir. simpson WIS adopted, ayes a. nays l3. MT. L,isk offered an amendment making tho provisions of the bin apply to build ing and loan associations. There had ben more fIeslex lost M ssald. ih tho failure of building and loan associations than, in all the bank failures. The labor ing men of the State had repeatedly lost money fin the building and loan schemes.
 DO you represent anybody else in Ala bama except the laboring men?' asked Mr. Hickman, and the question raised a laugh.
 When did you discover these wrongs in the building and loan associations? '" asked MT. London of Jefferson of Mir Lusk.
 Some time ago." replied MT. Lusk FAren't you a little late fin bringing forward remedy?' dueried MT. London.
 About as late as the Jefferson county delegation is in Joking after the in- terest of depositors in State banks" re- sponded MT. Lusk
 Benners Explains Lusk's Motive.
 MT. Benners of Jefferson said that there was a wide difference between the busi- ness of banking and building and loan associations. The funds of the building and loan associations consisted of what was paid in the treasury by the stock holders and associations were required to lend to their stockholders all the money paid in.
 He said that he understood the motive that prompted the amendment. He was an attorney for a building and loan as- sociation.
 T have been too industriously engaged in pushing this banking bill,' said Mir Benners. This amendment was put in to give me a blow under the seventh rib. Now. I shall not ask the House to vote down this amendment unless shall show you that 1t is absolutely un- reasonable"
 He read the present laws relative to building and loan associations, and said that they were ample. Twice as elabor- ate reports were now required from the associations by present laws as the bill required from State banks. He urged the House not to throw the law into con- fusion on this subject
 He moved to table the amendment. The amendment was tabled. 59 to 25
 On the floor Speaker Tunstall said that 1t was evident that a majority of the members of the House desired a banking bill and as the time was growing short. he moved the previous question. lie withdrew IL temporarily TOT an amendment by Representative Walker of Madison, providing a heavy penalty for the State examiner who should reveal any secrets of a bank. The amendment was adopted.
 The substitute was adopted, 6S ayes, 1 nay.
 MT Mcdonald of Barbour cast the only negative vote.
 The Dnl was then passed with only one vote against it. MT. Kelly of Choc- | taw.
 Amendments from Governor. The Governors message containing his amendment to the bill for the Old Sol diers' Home at Mountain Creek, was received. The Governors amendment limited the annual appropriation to the home to $12,5OO, allowing 100 old soldiers l to be cared for at the home. The amend ment was adopted.
 The Governors amendment to the Ben ners' convict bill was also adopted. The bill as originally drawn provided that all convicts in counties of more than 5OOOO inhabitants should be returned to the county in which they were sentenced. The Governors amendment made the bill apply only to counties with 100000 inhab- itants.
 The House recessed at 1 p. m.
 HoUsT AFTERNOON SESSION. ''Pony Circuit" Bill Made Special Order.