The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-03-23
SENATE STANDS BY
THE PRIVATE BANKS
REFUSES to Adopt Eberhart's
Measure Wiping Them Out
of Existence

Another attempt to bring private
banks under the supervision of the
puDfc examiner. by forbidding them
TO use the word bank" or banking"
business, failed in the senate yester-
day.
The test came after consideration in
committee of the whole of the banking
committees bill authorizing the BUSH
ness OF private banking.
AS soon as the bill was reached on
general orders Senator Eberhart. who
mao faiied TO get his anti-private bank
Dill on general orders, moved as an
amenoment measure that practically
emoodled the provisions of his bill that
mad been Indefinitely postponed, which
IN erect would abolish private banks.
senator Shell, chairman of the banks
and banking committee, saw this and
| declared:
Why, this amendment by Senator
Eperhart is substitution of his bill
Tor the committees BILL
Senator Eberhart said II was merely
an effort to bring both bills before the
senators that the merits of both might
be discussed and understood.
Inspection Wouldn't Count
Senator Eberhart contended that the
inspection of private banks provided
by the committees bill would amount
10 nothing. 1t permitted examination
OF nothing but the banks, but did not
allow examination into the owners
other financial enterprises, and that
consequently a private bank might ap-
pear to be financially sound while its
owner might be bankrupt. as was once
the case with private bank in Shake
pee, whose owner was found to be
100000 In the hole, while the banks
side.
no
everybody in Wisconsin was satisfied
with the law there regulating the OPP
Grafton Of private banks, and added:
1T would be wrong to prostitute our
banking law, for il is an excellent
measure. But the bill proposed by the
committee would give US two kinds of
state banks"
Ward Defends Bill
Senator Ward of the banking COM
mittee protested against Senator Eber-
hart's amendment, and in behalf OF the
committees bill related its history.
The senator declared that out of fully
zoo state bankers heard by the COM
mlttee not one had advocated the Eb-
erhart bill, which, Senator Ward said,
would wipe out private banks. Sena-
tor Ward defended the committees bin.
which he helped to draft, and asserted
that its strongest feature was the pro-
vate banks preferred creditors
Senator Thorpe of Kandiyohi spoke
against the committees bill, declaring
that its passage would put the states
department of banking in disrepute
Senator Somerville opposed the Eb-
erhart, bill, but thought the banking
committees bill should be amended by
inserting a provision requiring private
banks to publish their financial stand
ing at stated intervals
A rising vote on Senator Eberharts
amendment resulted in II votes for and
% against it.
1t was then decided to lay over the
bill until today, when an amendment
requiring the publication of statements
of private banks will be incorporated
In the bill.
New Senate Bills
S. F. No. 397: BY Comstock-Appropriat
ing $500 for erection of memorial on uni
VerSity campus to university students
who died in Spanish American war
s. F. No. SeS: BY INTERCHANGEABLE
81, 600 to build a bridge across the Long
Prairie river in Douglas county. Roads
s. F. No. sss: BY stone-Legalizing
sales of real estate under execution is
sued out of district court upon judgment
rendered by justice of the peace. Judi
ciary.
s. F. No. 400: BY Putnam Cby request)
Requiring village councils to publish
their proceedings within ten days after
their meetings. Municipal corporations.
ting electors residing within corporate lin
its of villages TO vote in such villages at
general elections. Elections.
8. F. No. 402: BY Swedback-Author-
issue bonds for the building of a county
court house. Towns and counties