Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1908-05-01
THE OHIO LEGISLATURE
WHAT THE STATE LAWMAKERS
IN BOTH BRANCHES ARE
DOING.

In the laws regulating building
and loan associations of Ohio are
made by the bill by Senator Russell
of Shelby county, which passed the
house Thursday and which 1t seems
assured will become a law.
Among the more important depart
ures from the existing laws provided
| by the Russell bill as 1t passed the
house are these:
Associations may drop the word,
building" from titles and may be-
called Savings companies" loan,
companies" or Associations" The
use of the words bank" banking,
| or trust" in the title is forbidden.
Deposits may be accepted and loans
may be made to others than members.
but the withdrawal of deposits by
check is prohibited. Joint deposits
may be made, payable either to the
holder or survivor
Permits an undivided profit account.
in addition to the regular reserve al
ready required by law.
Allows the investment of surplus
funds in federal, state, county, NUM-
cipal and township bonds and other
securities accepted by the United
States as security for deposits, and
permits deposits of idle funds In,
banks and other building associations.
Permits increase or decrease in the
number of directors.
Provides for compulsory inspections
at least once a year.
Permits the buying of mortgages,
but prohibits their sale except in
times of financial stringency by COM
sent of the state building and loan as
sociation inspector.
The senate passed the bill prohibit
ing fraternities or sororities in high
schools. Senator Gayman secured am
amendment requiring 30 days instead
of ten days notice to offending pupils
and making the law take effect July
1, 1908.
Columbus, O.-The house on Friday
indefinitely postponed the senate bilT
to authorize county commissioners to-
buy bloodhounds for the purpose Of
tracking criminals.
The Schmidt bill giving cities the
right to limit the speed of trains and
to make railroads guard their grade
crossings was defeated in the senate
The senate passed the Harper bilP
giving pensions to the blind, in con-
stitutional form. ~
Senator Howe of the cities commit
tee reported out the Wertz bill giving
tuc luitldtiNc anu TeIeTeuQum 10 all
municipal legislation, with an amend
ment exempting street railway fran
chises from its operation. The report
went over until next Tuesday.
That many bills will be practically
made into laws next week was indi-
Gated Friday when more than 40 SEN.
ate bills were reported to the house
by various committees which have.
had them under consideration
Representative Stockwell of Cleve-
land presented in the house a COM
munication from State Treasurer Nc
Knnon giving the average weekly
balances of cash held in the vaults of
the state treasury since January ].
1904. This information was requested
by the, house. The state depositary-
law went into effect April 20, 1904.
and the report shows that at that time
there was more than S2,000,O00 cash
in the vaults of the state treasury
The average balances ranged from
one to three and half millions from
January, 1904, until April, 1905, when
they dropped below $1,000,000. This
indicates that the depositary law was
put into effect very gradually. The
lowest weekly balance in 1907 was
$SS.000.
Under the proposed amendments to-
the state depositary law the state
treasurer will not be permitted to re
tain more than $4,000 cash in the
vaults of the state treasury.
Columbus, O-By a vote of 27
to 6, the senate on Monday adopt
ed the resolution by Representa-
tive Little of Greene county provid-
ing for an investigation of the munich
pal affairs of Cleveland by Joint COM
mittee of the general assembly to be
composed of three Republican mem
bers of the house and three Democrat
lc members of the senate. Numerous.
amendments were offered by the DEM
ocratic senators, but these were all
voted down, Senator Lamb, the Lucas
county Independent, Joining the Re
publican members in opposition. But
one amendment was accepted, and.
that simply specified the allegations,
set forth in the resolution AZ:
charges" whereas the resolution re-
cited them without qualification.
Senator Espy proposed a resolution
extending the scope of the Cincinnati
committee to all cities
OF the state as a substitute for the
Little resolution and it was defeated
"a to IL. The Little resolution was.
then adopted.
The house concurred in the senate,
amendments to the Thomas banking
bill without any debate. 1t now goes
to the governor
The Thomas bill is in effect a bank
ing code providing for the incorpora-
tion, conduct and management of,
banks, subject to examination and su-,
pervision by the state. All banks:
hereafter incorporated must comply in
all respects with the provisions of the
act. Existing banks may, by action or
their stockholders, elect to conform
their business to the act, but after
April l, 1910, all banks will be sub
ject to its provisions as to their bust
ness.
The superintendent of banks is to,
ha annoinfpd hu tho o,o,,a..1.