The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-03-31
THE LEGISL AZURE
PRIVATE BANK
BILL IS LOST
SENATE KILLS ELABORATE COM
MITTEE MEASURE.
Amendment Limiting Loans to One In
dividual to 20 Per Cent Carries, After
Which Friends of the Bill Helped
Kill It-Lost by Two Votes.

winch EflenQS OF Cne Bill Helped
Kill It-Lost by Two Votes.
The senate banking committee bill
for the regulation of private banks was
killed in the senate today as the result
Of an amendment by Senator Collier Of
Shakopee. ......
The bill came up ON general orders.
Senator McGil offered an amendment
for the benefit of private banks in Ham
line and St. Anthony Park; to exempt
from necessary increase in capital banks
of $4,000 capital which have been in
business one year. This amendment was
overwhelmingly voted down on the
ground that it would nullify the bill,
would make it unconstitutional.
Senator Collier then offered the fatal
amendment, to prohibit private banks
from loaning over rs per cent of their
capital to any. one party.
was needed. He said:
:'The only safeguard to, the people Of
this state on private banks is to limit
passed unamended it makes the private
bank system for the people worse than
before, for they understand the old sys-
tenn, and they would have to learn the
them.' -, ~
Senator somerville said II the Collier
am n'1 On 7;t,ogp passed the bill NIL ht as
Senator Eberhart said he thought the
senator from Brown county about right.
Nearly all private bank failures, he
said, came from excessive loans to
single parties.
Senator Thompson said he thought
i
and that satisfactory compromise
amendment prevailed, IL against, "a in
favor of it.
Senator Thorpe moved the bill be
recommended to pass. Senator Somer-
vile moved a substitute motion for in
definite postponement. The substitute
motion prevailed, FL against, 20 for the
motion.
The Cowan bill to change the name of
Pine county to Clover county passed,
no: He thought sentimentality not
sufficient reason for changing the name
Pine awhile, he said. ~ "
"The only objection I see to the en-
actment of the BILL said Senator Will
son, is that Senator Cowan will then
be in Clover all the time.'
1m Hay AoAAoWiIR no Passage "
duced by Senator Shell as follows:
I" Resolved, That the name Of ST.
Louis county be changed to Alfalfa.'
But it failed Of adoption.
Bardwell Bill Passed.
On motion Of Senator Wilson, Fl. F.
No. $40, by W. w. Bardwell, passed the
senate under suspension Of the rules.
It permits Of the use for the Hennepin
county law library, Of fund formed
from the accumulation Of excess fees in
once before passed in the. house.. but
in form declared unconstitutional by
the attorney general, and for this rea-
son disapproved by the governor. 1t
was redrafted in q constitutional form
and is now sure Of the governor s sig
nature.
Adjourned Until Monday. .-
The senate adjourned until 10 am:
Monday to rest up before "tack1ing'
the code.
Senator Rieke moved adjournment
was lost. Senator iaybourn then
moved adjournment until Monday, and
the motion overwhelmingly prevailed.
Favors New School.
The senate committee on education
reported back the bill to establish a
branch school Of agriculture at Crooks
pass. The report was presented by
Senator Ward.
Senator johnson Of st. Peter is tire
Of waiting for his bill increasing liza
bility for causing death from $4,000
to $4,000 to come out from the jul
dietary committee Of the senate.
ator Johnson, tGthat If this bill increas-
ing the death liability is not reported
out the first Of the new week, will
move that the senate recall it from the
committee.
| Passed Voting Machinh Bill.
Bills passed including the Dunn vot.
Ing MACHINE bill, s. F. 4o3; and the
somerville bill, s. F. 1923, providing
procedure for collecting an inherit
ance tax.
Approve Abolition Of Bucket Shops
The Erickson anti bucket shop house
bill was recommended for passage after
discussion as to whether It should be
held up as club till the house got
busy and acted on the Ward senate
bill Of like character.
| the house with house bill,' asserted
Senator Wilson of Minneapolis, "st
that if it were made law it would
! destroy every legitimate chamber O:
commerce and board of trade as well a
the bucket shops"
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