Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1904-02-25
GDkk|KS FINDS
A FATAL ERROR
Governors Close Scrutiny of
Biennial Elections Amend
ment Saves Bad Blunder
FINDS A DEFECT in THE TITLE
Calls Attention of Legislators and the
Resolution 10 Recalled and Work
Will 30 All Done Over Again In
Both House. of the LesisIa-
turs:

Both House. of the LesisIa.
turs:
Special to imes-Republican
Des Moines, Feb. 25.-Owing to the
close scrutiny Of Governor CumminS
another fatal blunder in the matter OF
amending the constitution In favor OF
biennial elections in Iowa was avoided
Just in time today. When the resoiu-
ton for the amendment of the consti-
tuition reached the governor he found
that the title thereto differs materially
from the title offered two years ago
and that 1t Is referred to as resoiu-
ton OF the Thirtieth general assembly
siinstead OF the previous body. The
governor called in the legislative lead
ers and after consultation 1t was
agreed that the resolution should go
back to the legislature. The vote by
which 1t passed the house was there
fore reconsidered and the resolution
recalled from the governor for amend
ment, and the whole work will be done
over again In both houses.
80
!. The house today endorsed the reso-
luton in favor of the Hepburn-Dolli-
yer bill In congress by SO to %.
A warm debate came up on propo-
sition 20 punish chicken thieves with
two years in the penitentiary, some
members wanting to include turkeys
roosfing on trees. and others insisting
on making it apply in day time as well
.as night time. The debate was not
concluded in the house.
The bill to allow boards to designate
papers published in foreign languages
as official papers was defeated in the
house, having only ~ votes. The bill
TO increase the pay Of township tr,ls-
tees to 81 a day while engaged in the
valuation OF stock damaged was
passed.
The senate passed the bill to appro-
pirate $4,000 additional for the st.
5y.ouis exposition commission; also a
bill for $4,000 for the deficit in nation
al guard expenses at encampments;
the bill to authorize city councils to
1 NIL vacancies by appointment, and the
bin to provide a method OF procedure
I'm the repeal Of laws in the code sup
Element.
Report was made to the house In ia
svor OF the Chassell road bill, which
partially restores the old law: and
against the Dashiell bill to establish a
matrimonial bureau. against the Lo-
throp claim for additional compensn-
tion on war claims and gainst the VAL
ued policy insurance bill
$50
The banking committee of the sem
ate. in order to properly consider bill
TO require that private banks and
bankers esall be subjeo. to examina-
tion and report the slime as organized
banks, called on the banking depart
,nent OF the state auditors office for
come STATISTICS from the records as to
the failures OF organized and private
banks in Iowa and elsewhere. Willard
+. Cox. In charge OF the banking de-
partment OF the state. made as
thorough investigation as possible and
presented to the committee some valu-
able statistics. The record OF failures
in Iowa was found to be:
1ss3-Two state banks, assets $780,
900. liabilities. $235,000:two savings
banks, assets. s24s.ooo. liabilities. $780,
900: two private banks. assets, $SS0.000
liabilities $3ss.s0o
ls94-No failures
1s95-Three private, assets s156,0oo.
liabilities $1sl,600.
1S96-Four state. assets $4,000. IL
abilities $61.s6s; three private. assets
$4,000. liabilities $4,000.
1s97-No failures.
1S9S-One state, assets 100000, IL
abilities $4,000: two savings. assets
800, 900, liabilities 100000: one private
assets $4,000. liabilities $4,000.
1S99-No failures
l9oo-One private. assets $500, IL
abilities $4,000.
1so1--one private assets s45o,ooo,
liabilities 100000.
From ttas compilation 1t was found
that the percentage OF assets to liabil-
tiles in the failed state banks in the
nine years was III, in savings banks
112. and private banks 6s. There were
three private bank failures in 1902. but
statistics az to their condition We're
not obtainable. In 1903 the Sheldon
State bank and the State Bank of Ger
mania failed. and while reports have
not, yet heen complete II is expected
the GerrnanGa bank WIFI pay In full. The
failure of the Sigourney Savings bank
IS ciassed as q defaacation rather than
a failure, but the deposdtors will be
paid in full. In the latter part of 1903
there WAS the failure of the Bank OF
Colfax, and already this year the fail
ure OF tine Dunning bank at Mt. Ayr
and virtual failure OF the McCutchen
bank at Holstein, all recognized as bad
failures. The November report OF the
state and savings bank to the state
auditor showed deposits of 3129.432,649,
on capital stock OF 21.78S.000. or
aiabGldty of stock and stockholders OF
"a per cent OF the dssta in addition to
the Investments and property.
Mr.. Cox also gathered from the
bank reporters some interesting sta
tistics as to the condition OF all kinds
OF banks in the United States and on
failures in eleven years from 1893 10
1903 Inclusive. The statement Of fall
ures showed a. followe:
Assets. Liabilities.
National. 292 ..a147.664.4l4 3144.5s8.26s
state, 440 >. 66.S9l.sS1 6s.266.O90
Savings, 1875 49.s7s.s37 b4.263.745