The Birmingham age-herald., 1903-09-14
HOUSE COMMITTEE
 FROSTS BANK BILL
Opposition to Measure Regu-
 Iating State institutions.
WOULD BE RUINOUS POLLY
May Be Very HurtfuI for Country Banks if They Are Required to Publish Statements During
 the Summer Time.

Montgomery. September 13.-(Special,)- )-- The bill for the examination and regula- ton of state banks has been "Hoodooed" in the house committee. So far as that committee is concerned all legislation on the subject Is dead. The programme of the friends of the bill now is to take the matter directly to the house where a bare majority can require the committee to report the bill one way or the other and thus get it on the calendar.
 At the hearing before the joint house and senate committees on Wednesday night the only bill considered was what is known as the senate recess commit tees bills. These two bills have been considered and introduced in the house by Mr. Goodwin. It is for this consoli- dated senate recess committee bill that the fight is being made. No other is be- ing considered. Two speeches were made at the hearing for the bill by M. Cody of Montgomery and Lee c. Bradley of Bir- mingham. w. D. Holloway, who con- ducts six state banks in the smaller towns and MT. Broadus of Florence, who oper- ates a bank at Florence, with six branches up and down the Tennessee valley spoke against the bill. The only opposition requirement. for published statements.
 Would Hurt Country Banks.
 The contention was made that to re- quire the country banks to publish their statements in the newspapers as national banks do, under the law and as many state banks do voluntarily would be ex- ceedingly hurtful and in the summer time ruinous.
 The senate committee has agreed on the bill with the number of published statements each year reduced from five to three. The house committee, a major ity of whose members are opposed to any legislation at all, met Friday afternoon and referred the whole matter to a sub committee of three composed of MT. Par ker of Cullman, who is a private banker, MT. Rich of Mobile, who is vice presi- dent of a state bank, and MT. McCluskey of Lamar. All three are opposed to any legislation on the subject, MT. Parker be- ing exceedingly active in his opposition.
 The complexion of the subcommittee to draft a bill has raised a general laugh at the expense of the advocates of the bill. There is really nothing left for the ad- vocates of bank legislation except to ap- peal to the house to require the com mittee to report and this will be done. It is believed that a majority of the house favors the bill and will vote to dig open the little grave where the enemies of bank legislation now believe they have snugly laid it.
 The Bills Provisions.
 1 The bill itself on which the fight centers, l provides, in brief, that the state treasurer l shall be the head bank officer. He shall l appoint an examiner at a salary of $1So0 | per year who shall examine the banks once year at least and at any time make special examinations when needed. The banks pay the salary and expenses. The treasurer must call for five reports year. These statements must be published in the local newspapers The bill provides for reserve, limits the loans to officers and to any one person, requires impaired capital to be made good, and all dead paper to be written off
 It should be added that a large number of the country banks are heartily sup porting the bill. MT. Schuessler who is a member from Chambers and president of the Bank of Lafayette, is for 1t heart fly and so Is MT. Lancaster, president of a bank in Wetumpka and chairman of the senate banking committee. State banks at Opelisa, Tuskegee, Jasper, Marion, Sell ma, Thomasville. Jackson, Brewton and others arc for the bill. The fate of the bill at this time seems to depend on whether the house will force 1t out of the hands of hostile committee. No subject before the legislature Is at this time at l tracting so much attention