Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1908-03-07
Thinks Capital Of Banks Should Be
Twenty Per Cent of Deposits.
PRESIDENT Is TAKING A HAND
Determined that Some Currency Leg
islation Shall Be Enacted.
CONFERENCES WITH SENATORS
Contest for supply Depot building Rt
Omaha One of New York Against
the Gate City--Chnnce for
Omaha to Win.
lrrnm a stnff corrorrondent.l

WASHINGTON, March 6--(special Tele,
gram) Senator Burkett, who Is by no
means satisfied with the railroad bond prop
osition OF tho Aldrich bill and who will vote
against the measure II that clause Is not
stricken out, today introduced an amend
ment to the bill in the interest Of small
national banks as against the banks with a
capital Of flO0OO0O or more. His amendment
provides, instead Of 80 per cent Of the capt.
tai stock Of national bank which has
surplus OF not less than 20 per cent, that
the capital stock aud surplus shall not
be less than 20 per cent Of It's deposits This
is offered according to Senator Burltett
to prevent just such conditions as brought
about the failure of the Bank OF Commerce
in Kansas City. 1t is done to protect, ac-
cording to the senator. depositors in ma
tional banks with small capital, having
enormously large deposits against failure
1t is the senator's contention as deposits
go up banks should increase their capital.
which seems to be the consensus of opinion
of the bankers of Nebraska, who are repre-
sentative in character and who reflect the
banking methods of the country
SO important is the fight becoming on the
Aldrich bill and so tense Is the situation
growing that the president has undoubtedly
decided to take hand, for he sent out word
tonight to a number Of senator's, who are
generally counted against the Aldrich bill
to confer with him tomorrow morning
among the number being Senator Burkett
Just how far the president will go In his
support of the Aldrich bill cannot be pre-
dcted, but that he is committed to some of
the provisions of the bill and IL a staunch
advocate of remedial financial legislation is
well known, and he is determined that some
measure shall be passed.
Tonight It is authoritatively stated that
the democrats will vote as a body against
including railroad bonds as a basis upon
which circulating notes may be issued and
with dozen or fifteen republicans. who
are openly against this feature of the bill,
its defeat is confidently looked for But
the president Is a power and II he, per-
chance, should array himself on the side
Of the Aldrich bill with the railroad bond
clause included, It is believed his wishes
would obtain.
New York Fights Indian Depot.
The fight over the Indian supply depot at
Omaha, so far as the appropriation Of $780,
600 is concerned has resolved itself into q
contest between Omaha and New York, ac-
cording to Senator Burkett. Chairman
Sherman of the committee on conference
on the Indian appropriation bill Is against
voting this sum of money for a supply depot
at Onlana ana senator burkelI mas taken
up the fight. All day he labored with the
conferees the Indian bill and tonight
he believed that he has saved the appro-
priation made in the senate for the Omaha
depot. But whether he has or not, he has
written into the bill the little word "here-
after" in relation to the appropriation for
the Indian warehouses in five cities of the
United States, so that hereafter the appro-
priation will be continuing instead of from
year to year, at present
Seeks HOnOrs for Omaha Roy.
Senator Brown has made application to
the Navy department for the transfer of
Frank ]. willie of Omaha to the civil en-
gineerng corps upon his graduation from
the Naval academy at Annapolis in June.
Mr.. Willie is the nineteenth man in his
class of more than 200 cadets. The transfer
to the civil engineering corps means a
further course OF two years for the young
man in the Troy Polytechncal school. and
upon his completion of that course, he will
be given a high standing among men of his
rank in the navy.
Minor Matters at Capital.
Secretary w. e. Whitten of the Lincoln
Commercial club called on the Nebraska
representatives and senator's in congress
today to urge them to support the Hardy
| bill, which provides for the practical en-
forcement of the long and short haul clause
! OF the act to regulate commerce.
| Senator Burkett today introduced a bill
! providing for an increase of the pension
of Charles f. Barker of Tekamah, Neb..
| to $50 per month.
| The commissioner, OF pensions has aa-
vised Senator Burkett that pensions have
been granted Joseph e. Jones. Hastings,
| S6, and Edward Weimer, Burkett Nsb.,
| SIS per month.
! Representative Walter l. Smith today Sc
cured ten days leave OF absence and left
! tonight for Council Bluffs. Mr.. Smith said
| he took a short leave because Of some
| important legal matters in which he is in
| terested.
Postmasters appointed: Iowa, Aimoral
/ station, Delaware county, w. F. Miller,
vice A. T. Barron resigned. South Da-
kota, Harrison. Douglas county, !. Markus.
vice G. V. Werp. resigned; Willard. Stan
ley county, A. f. spaur, vice c. C. Sharon.
| resigned.