The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-01-24
House Likely to Adopt Two
Guarantee Deposit Bills.
An Insurance Plan for the
National Banks.
BUT LITTLE PROGRESS
Much Talk Wasted in Discussing
the Question.
Believed That Royce Measure
Will Be Passed.

Indications are that the house of rep
resentatives is getting itself in the
proper frame of mind to pass not one
bank deposit guarantee bill, but two.
There is a strong sentiment in the
house in favor Of the bank deposit
guarantee plan proposed by Bank Com
missioner John @. Royce, and bill
embodying Royce's plan is likely tc
pass
At the same time, the house may
meet the demands of the nationa
Yanks for protection by passing the
SWaggener-Ham bill authorizing the
formation of a private corporation to
insure bank deposits.
The two propositions do not conflict
and the national bankers insist that the
Waggener-Ham bill must be passed De-
cause the comptroller will not allow
national banks to participate In the
state deposit guarantee plan.
The house put in nearly the Whole
morning session listening to the presen-
tation of the national bankers side OF
the case This afternoon each one OF
the bills is being given 10-m1nute
hearing The following are the guaran-
tee deposit bius under consideration:
House bill No. II, the deposit insur-
ance bill, by B. P. Waggener. intro
duced by W. B. Ham,
HOUSE Dill 1NO 10, 3 uc1A e1iANOO ny
bill. by Fred H Quincy, introduced by
w. Y. Morgan.
House bill No 7, guarantee deposit
bill, by C. L. Davidson.
House bill No 10. guarantee deposit
bill, known as "Petherbridge BILL" in
troduced by D. V. umholtz. hn,s
House bill No. 123, requiring banks
to give the state bond for the protec-
ton of deposits, by w. B. Ham, intro
duced by William Wells.
House bill No. -. known as the
Royce bill. not introduced, put sup
mitted for information of members:
House bill No. -, known as tne
Haskins bill, not introduced but sub
mitted for information of members.
At this mornings session, ]. w.
Berryman took the floor in defense OF
the insurance bill, known as No. Ill.
This is the bill which the committee
on banks and banking favorably re-
ported.
For an hour Mr.. Bergman was
kept busy answering questions, ana
explaining away objections to the NO.
III bill.
This afternoon it is expected that
Bank Commissioner John Q. Royce
will be given an opportunity to come
before the house and explain his Dill.
Only one vote was taken this morn
ing which indicated IN any way how
the house will line up. This was on
motion of Stannard of Lyon county
after Mr.. Bergman had finished his
presentation of No. Ill bill that the
house give each of the other bills re-
1ected by the committee hearing.
Mr.. Bergman objected to this, and
said the house should go ahead and
pass the insurance bill.
The house. however, wanted to hear
the other bills. and passed Stannard's 8
motion by a vote Of "a to 20.
Mr.. Bergman opened the bank de-
posit guarantee discussion by moving
that the house take up house bill Ill,
which is the insurance plan proposed
by the bankers. Mr.. Bergman said:
National banks can not come in
under the guarantee deposit plan, SO
it is absolutely necessary to pass an
insurance bill for national banks,
whether we pass one of the other bills
or not"
w. r. Stubbs thought there was no
reason why the legislature should not
pass both the insurance bill and the
deposit guarantee bill.
c. A. Stannard said he had no OBJ
lection to the insurance bill for the
national bankers but thought it would
be a good plan to have the deposit
guarantee plan for state banks.
There is a disposition here said
Mr.. Stannard, "to force this insurance
plan down our throats, and possibly
to let the deposit guarantee plan co.
w 7. Morgan moved that the Ham
bill for deposit insurance be read
first, and that afterwards each of the
other bills be explained by the auth
ors.
e. A. Enright, who is backing the
"mysterious stranger" bill prepared
by John Q. Royce. state bank COM
missioner, wanted to have his bill
read. Royce's bill has never been in
troduced, but has simply been printed
The house appointed a committee this
morning to sift all local bills out of the
calendar, and put them in one big ON
nibus. BY this means the house can
dispose of all its local bills at one bite
adjournment at 8 p m. Saturday came
up this morning. Holdren of Mont
Romery moved to strike out that part
of the resolution saying that the legis-
lature should adjourn land go home
Some of u.s. said Holdren may not
want to go home"
'1 guess that's right" said a prom
inent member.
w. w. Padgett moved to lay the res
olution on the table. The vote was
close and a roll call was demanded The
vote was 63 in favor of laying on the
table and 80 against, and thus died DR.
Brierley's resolution.
After reading the insurance bill
through, j. W. Bergman of Clark was
called upon to explain the plan which
the bankers favor.
There are two kinds of insurance
so-called old line and mutual Old line
provides for the payment of a definite
premium and a limit on liability Tha-
is the plan of deposit insurance recon.
mended by the committee. The plar
of guarantee deposit fund is an unlim
tied liability on the banks. and vii
be a source of weakness rather thar
strength. The only way a national banl
can participate in such a plan is by s
limited liability, by a dehaite policy o.
contract. This plan Will come nearer