New-York tribune., 1908-04-17
PASS NINE BANK BILLS
HOT DEBATE IN SENATE.
CokoIau Puts Republican Leaders
to Flight.
II, telegraph to Tn. rrtsun.. !

-A-x .1-il 1s-The Senate passed nine OF the
s,-v-one banking reform bills recommended by
e-,s-irten6ent Clark Williams Of the Safe Bank
- r,epartrnent to-day, including the important
- srs -ecsivership measures. These now go
=. Governor One is held up uao-ion OF
.o- Grady TO reconsider the vote by which
-eeseS that he may amend il later, hu1 the
=. ,z--v vote by which aI the bills were put
- TODAY indicates that he will net succeed
a. considering the vote and mat the pA VIII
- along with us associates
-.,=a--el TO the passage OF these bills, an acri-
--,ri.s sktrrish took place between members
=. -sze pet schemes they are trying TO carry
y ra- over an hour Senators Armstrong and
80 nd Cohalsn and Grady denounced one an
-. ,-o1artly. Fom bills had been passed. and
- nad spent nearly two hours talking On the
- - when Cohslan became nervous over the
--..-sss of the hour and declared, as there was
: .-5;-ae{on Of desire TO get into the general Or
= = -srs,5s-. lie proposed 20 insist that every
- : e-e-v till be read His interest," in the
,-=e-s calendar vas centred il the bill
..a--rlvr,zr Green providing for the Torrens
-, r registering land titles. In the end
49, - me Republican leaders 70 fight and
= -+s ri. OFT o. the general orders calendar
s---e-sss the reading ot every word OF the
,-l-,e hill which seeks to transfer from the
80 - genera 70 the Superintendent OF Banks
-, --1z-,-s5on Of hank liquidation proceedings
= .e-f n ho-- The CLERK dryly recited line after
-. - -s-zc-zph after paragraph OF e Dill tlaE
uzEsS- t-d-- CC1S-l C0A-1s0-S -
- :, ---1d-sr his motion, and finally he agreed
P-r = thai Senator smith renewed me
se--and- -.,- .
-Ez-.-ere-. Governor Chanler was apparently Pro
- - --ts anC. with vigorous rap OF the
- La -s-,ested Senator Smith 70 take the
= Tbs Senator Smith declined 20 &C. appeal
- senate that he was elected 20 SIT on the
= 81 -c- 70 preside. and that strict perform
- - MS duty -ecessltared his presence upon TIE
50 during Proceedings The Lieutenant t1o'erio'
.s-ss mat I Senator Smith wanted 70 near e---
- 80 rs could preside while the readlns vas
's s. - -,-v-,vv resulted smith declared that
5. v-a--a5 70 reach bill on the general oroeI7
-.-e-5s- taxing foreign mutual nre insurance oo-
-s-s.= Fafres wanted TO proceed, but ArhlS'folls
I'D out ,rtu ne could gee q promise from falHeS
-rz- his bill, aPpropriating sio"V foT the pulo1e
:. . site fo- < new state hospital II the south
ss-s-- mart OF the state, would be advanced 10
order OF final passage. Senators haires Atm
s--a-E GRADY Cohalan and Smith we're al taking
- 5-ce 7i-h occasional interruptions from Aids
--e- Ack-oyd. Of Utica. arose and said; i sug-
=es- -5sr THIS IS good tine 70 cal II me chaP-a
e-d pray"
Nc one would l1dge an inch. and i was apparent
--at -vo o. taree disaHeeted members could easily
XII Cv-o or three hundred bills by insisting on
l-a-or- tactics. 50 finally Ha1nes yielded and
agreed tc 50 into general orders calendar and stay
there If il took all night
Practically the only serious fight over the bank
--E hills was on The passage OF the liquidation
measure i was opposed by Grady, but was
PASSED 5y party vote OF 3 10 g Two others were
submitted 70 z party vote and the other SIX were
passed unanimously.
The attack Of Senator Grady on the liquidation
iii was based chiefly Oh the principle involved
TT Is said" he declared, that this bill only con-
forms ths state banking system TO the national
s-S-e-r where liquidation proceedings in connection
---a national banks II the hands OF the Con-
--oLle- Of -re Currency There never was greater
-zUacy. Such a free sweep OF power has never
ree- delegated 70 any officer before. Here you
-l~1-de for the destruction OF banks ny the Super
s--endeu1 of Banks i ne thinks tlat any law IS
bsing violated
Senator Davis Republican offered two amend
-7errs but both were voted down. The nine bills
PASSED ait rs follows.
-srrsrr-endert of Banks the supervision over bank
l-lLIIdaIion proceedings .
Recurring branches II trust cornpan MES 10 have
500 6GG capital. addition 70 the capital O. TIE
R.gri-ing future branches Of state banks 70 have
ro. 600 and present branches S5o,epV capital II
z5E--icn the capital Of the home institution
Ir-ress1-c the reserve cf trust companies y
7-c-eesf-C the reserve O. state banks IN Man
>zr-zr 70 Is per cent and ID state . per cent
Requiring trustees o. Wings benks 70 take a.
Fsu.-lnE that the submission ~ statement ~
T. .oe-e Fe made 4 COMMITTEES Of I'VE OF tIs
--1a-d directors once ? month - -
Providing fcr the publicity OF the acLlShs q l-S
safe EIpe-InrerGent Of Banks. .
Pacing limitations or the loans ana h1sl-'Ss
----ra.5s = banking institutions