The Norfolk weekly news-journal. (Norfolk, Neb.) 1900-19??, 1907-04-26

only To these two counties.
senator Randall from this senate.
, rial district and member of this
group and the state association I'm
good standing introduced bill af.
focting depository bonds. II provided
that u bond need only be given for the
amount Of the deposit and that certain
securities could he deposited to secure
such deposit If desired. After amend.
islatlon, the bankers outside of tho
larger cities saw In It's enactment n
menace to their business and, ably
assisted by the lawyers who Thought
they saw u possible loss to them I'm
Wills, administration of estates and
trusts of various kinds, finally succeed.
Ing by striking out the clause provld.
Ing for the plcdging OF other sccuri-
tics, this bill passed both houses, but
was vetoed by the governor who was
led to believe that II intcrfCrrCd with
another bill upon depository bonds
providing for concurrent loss and nj.
lowing two or moro bonds to be filed
for county deposits, as no bond com.
pany could write for more than one
fourth or one third of the banks cap.
ital stock.
Again the cities came In conflict
with the country. While possibly not
to exceed thirty to forty banks were
affected by the bill allowing two or
more bonds, all the rest of the banks
throughout the state would have been
benefited by Senator Randalrs bill. |
am told that the bill which became "A
law does not provide that the deposit
shall be FOR only fifty per cent of the
bond, and that this oversight will prac.
tically accomplish all that was desired
by Senator Randall's bill, but as
have not examined the law as II now
Is am unable to vOuch for this asscr
ton.
understand that the Legislative
committee also killed n bill limiting
the premium to be charged by surety
companies for depository bonds, allcg
Ing that such law would drive bond
companies from the state. with this
argument ! have no sympathy. We
have demonstrated that we are able
to carry our own burglar insurance;
why not carry our own guaranty bonds,
in the same manner through the state
association?
That the state associations legisla-
tive committee was active goes with.
out saying and they were ably assist.
ed by the bankers who dropped into
Lincoln as either visitors or upon 9th.
er business matters throughout one of
the most interesting legislatures the
state has ever seen.
After routine business connected
with the details of the meetings had
been disposed Of, the president was
authorized to appoint committee of
three on resolutions and similar com
mittee ON nominations President
Durham announced that the commit
tee appointments would be made at
the converting of the afternoon SEES
sion. Adjournment was then taken
until 2 o'clock.
The Afternoon Session.
1t was after 2 o'clock when the af-
ternoon session was called to order In
the Elk lodge rooms. President Burn
ham announced the appointment of
the following committees w. d.
Forbes of Butte, II. II. Mathewson of
Wakefield and Willis Mcbride of FL
gin on resolutions; c. II. Randall Of
Randolph, c. A. Smith of Tilden and
Frank Nelson of Niobrara on nomina-
tons.
For the afternoon the following
bankers were scheduled to deliver ad-
dresses: Hon. c. f. McGrew, Omaha
THE New West" II. j. Linderick of
Emerson, Escrows,' the Bankers
Duty and Responsibility" Hon. Gle
ment Chase, "The Average man"
At 2 o'clock more than $50 had reg
istered. II was said to be the most
thoroughly representative attendance
that the association had known in
many years, the presidents and chief
officers of banks invariably being pres
ent. Each guest was adorned by Nor
folk bankers with a red carnation
The three Norfolk banks-the Citizens
National, the Nebraska National and
the Norfolk National-acted as hosts
for the day in entertaining the out of
town financial men.
The annual banquet connected with
the bankers convention will be held
this evening at Marquardt hall. d.
MathewsOn will act tOastmaster The
following toasts will be responded to:
THE Banker as Seen by the Custom.
En-" f. A. Bullock, Norfolk; After
Hours" w. r. Graham of Laurel;
Dreams" Ed r. Kearney of Jackson;
Our Heritage" George n. Seymour
Elgin.
MR.. DURLANDS ADDRESS.