Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1909-03-04
All But Committee Amendments Are
Promptly Voted Down.
ONE SALOON BILL FINALLY DEAD
No Chance to Pass the Seven O'clock
Closing Measure.
INK BED SHEET BILL PASSES
Senate Gets TanRIcd Up aud ForRets
20 omcislly Take n Recess, bat
the Members stop 20 Eat
Just the same.
Iron q staff CorresnondentN !


LINCOLN, March Especial )-ThouEh
admitting the banking bill does not provide
for the actual guaranty Of deposits and
neither does II provide for the immediate
payment of losses in case of bank failures
the democratic majority in the house this
afternoon recommended the bill for pas-
sage. following an all-day discussion OF the
measure
The majority party refused to take from
the governor the control Of the banks which
the bill gices to him and place II in the
hands of the State Banking board, com
posed Of the governor. the attorney gem
eral and the state auditor as made up in
the BILL even though the members OF the
majority party were elected under the
slogan Let the People Rule"
1t was pointed out by republican sneak
ers that while the attorney general and
the state auditor were elected members of
the board by the people Just the same az
was the governor this bill provided thew
should be mere figureheads on the board.
But 1t had no effect
klllen of Gage told the members that
Nebraska had governor who at one tina
was banker and that the records showed
ne was very poor banker, and he called
upon Victor Wilson, at one time a hsnt
examiner. to verify the statement. but Mr
! Wilson ignored the question because Wi
sons explanation might have opened the
eyes OF the majority party to the serious
ness OF Its action in placing the governor
III aosolute control OF the banks OF Me-
4 braska.
Ihiessen Of jefferson and McCon ~ Gage
voted with the democrats when tho roll
was called upon the motion not to concur
In the report of the committee az m.
| whole, but to substitute another rosa.ura
for this BILL which left the banking laws
! as they are at present and changed thu
guaranty fund to an unlimited amount
/ lhlessen explained that he had promised
ms people to vote for a guaranty hill and
| ne believed this is the bill which will mass
! ana MoColl said he voted no becausa he
was opposed to the guaranty OF hank ae-
poslts
| Vote ON the BIlI.
! Those who voted 10 recommit the bill
for the specific amendment to substitute
the Myers bill now pending In the senate
were the following:
fes-Armstrong Baker. Barclay. Barrett
Begole, Black, Brown OF Lancaster. B,sbee'
Chase, Ellis, Fannon Griffin Hsdseu
SN3aHs9n Nattiatn OF Adams Johnson Of Burt, Moore.
H HHathsaek' Ssberson, Smith Taylor OF
No-Bates. Boelts. Boland. Bolts. Row-
man, Brodrck, Brown Of Sherman Butt
Bygland, Carr Case, Cab, Clark, Connolly,
TTSoPerrider TSo%I Der, Dolezal Dostal., Eastman,
nan, nan Holmes, Hospodsky Kelley, Kotouc,
Murphy, McCoii, McVicier PickeS, P,IseT' PP,iI,ler'
Kltchie, Scheele, Schoettger. ShoensNei
TaHoE Tl,k, skeeni ." Snyder tedman, wan: TalcGtt,
Thiessen, Thomas Weems West, Wilson
Worthlng. Young. Mr. peaker-s2
In the discussion this afternoon Hum
phrey OF Lancaster moved that instead
OF giving authority to the governor TO an
point the examiners that these appoint
ments be made with the approval of the
State Banking Board. The motion was
promptly voted down.
In the debate on the bill Monday TAYLOR
OF Custer secured an amendment proyIdInr
that the reserve funds shall be deposited
In repositories approved by the banking
board. Under the original bill this power
was given to the governor alone. Today
Taylor moved to reconsider that motion
but after a lengthy debate the motion 10
reconsider was lost. In discussing Il CLARK
OF Richardson said:
Too Much Power 10 Governoy
Il am in favor of keeping those words
out giving power 10 governor TO select
depositories). Too much power has al
ready been given to the governor. We
expect this law to be in force for MANY
years. and I want to denounce on the
floor Of this house the proposition 10 give
to the governor the power to say where
this money should be deposited. It say Il
is almost crime"
Broderick tried to get In an amendment
cutting out the words "other than banI,
stocks" referring to the section which
provides that stockholders OF banks must
have property other than bank stock. sub
ject to execution. of twice the value OF
their bank stock. But he lost, though Il
was explained this section made the bank
ing business the business Of the rich man
only Graft explained this applied only
t to banks yet to-be organized.
) At the conclusion Of the debate on amend.
I merts Brown of Lancaster moved that the
bill be indefinitely postponed. giving as hi.
reasons that the bill did not provide fot
the guaranty OF bank deposits: that 4
S tended to dishonest banking; that II CAV,
= to the governor too much power.
( At the conclusion Of his speech Brown Of
n Nuckolls moved that debate be limited tc
] five minutes to each speaker rayioi
S moved that debate be shut off in five min
q utes, but he withdrew his motion when 4
. howl went up. Then the Bow man motor
y carried.
In his talk against the bill Taylor OF YorI
e told the democrats: when this bill be
4 comes a law the people will say we askeC
g for bread and you gave us stone I hear,
t an unlimited guaranty fund talked durinl
I the campaign. The fund in this bill is I'm
u tied. You raise $4,000 a year. This i
just like the insurance against hog cholera
J. The insurance was good until the hogs be
n gun to die Of cholera. The bill will tend {,
s decrease the capital stock of banks an,
d thus lessen the liability"
:. Clark OF Richardson and Graft spoke 70
q the bni, admitting that while Il was no
L all that might have been expected and tina
e II might not be perfect. It was a start II
!. the right direction. II Was the foundation