The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-01-21

bond and security ana allow him such
reasonable compensation as he deems
proper. Such receiver, under the di-
rection of the bank commissioner,
shall take charge of such bank and its
assets and wind up tne affairs and
business thereof for the benefit of its
depositors, creditors, and stockhold-
ers. Such receiver SHALL upon the
order of a court of competent jurisdic-
ton, or the judge thereof in cham
bers, upon the application of the bank
commissioner, sell or compound all
bad or doubtful debts due to the bank
and sell all personal property of such
bank on such terms as the court shall
direct, and may upon like order of
such court sell all real property of
such bank on such terms as the
court shall direct; and shall, If
necessary to pay the debts of such
bank enforce the Individual liability
of the stockholders. Such receiver
shall pay over all moneys received by
him TO the creditors of the bank as
ordered by the bank commissioner,
and shall make report to the bank
commissioner of all his acts and pro-
ceedings.
The debate on this bill revealed a
strong feeling in certain quarters
against placing such autocratic powers
in the hands of a state official, Senator
Getty denouncing it as vicious leg1Sla-
tion and predicting that some day a
bank commissioner in this state Will
wreck banks in order to serve his po-
litical friends. Getty moved to strike
out the enacting clause, and roll call
being demanded on the motion 1t was
lost by vote of to ~.
a share of the condemnation meted out
to the bill, it's author and supporters,
but Quincy avowed himself RESPONSE
BILE for the authorship and held the
bank commissioner blameless- The
hank commissioner is appointed to rep
resent the stockholders and creditors,
and why shouldn't he have charger"
asked Quincy
Miller voted no when the roll was
called to strike out the enacting clause,
"in the interest of the depositors;
Noftzger voted AYE" also in the in
terest of the depositors."
Quincy offered an amendment to the
bill authorizing the judge of the dis
trict court in the county in which
bank failure occurs, to consider and
approve the compensation OF the re-
ceiver, upon the application OF any
party in interest.
The noon hour having arrived, the
senate adjourned 20 meet its ap-
pointment with the photographer on the
north steps of the capitol building.
Senate bill No. 102. By Porter OF
Montgomery-An act to amend chap
ter 431 of the session laws OF lsoi.
said act being a proposition TO ameno
the constitution of the state OF Kansas
relating to the compensation of the
members of the legislature, was read
a second time and referred to the
committee on judiciary.
At the recent meeting in this city of
the Kansas Grain Dealers association,
a committee was appointed, In ac-
cordance with the suggestion of for
mer Congressman Bowersock, to wait
on the governor and request him to
incorporate in his message a recon-
mendation for an appropriation OF
$4,000 to aid in fighting the green bug
pest. The expense of the fight a year
ago was borne by the millers and pri-
vate parties.
Senator Griffin of Jefferson today
introduced senate bill No. lis, which
covers this ground.
At the request of Senator Griffin the
rules were suspended and the bill i'm
mediately advanced to second reading.