The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-02-25
AGREE ON A BILL.
Bank Guaranty Compromise Is
Made.
Deposits in Savings Eanks Are
Included.
TRUST COMPANIES OUT
Can Not Come Under Provisions
of the Law.
New Banks Let in Only When
Old Ones Refuse.
TRUST COMPANIES OUT

An agreement has been reached by
the senate and house conferees rela-
tive to the differences between the two
branches of the legislature on the bank
depositors' guaranty bill. The terms
of the agreement are almost Identical
with the prediction made in the state
journal several days ago.
The senate conferees conceded that
interest bearing savings deposits, not
subject to check, up to 500 shall be
guaranteed; that certificates issued to
depositors in insolvent banks in pay
ment of losses, shall bear per cent
interest instead of per cent; that
new banks in towns where the eStab- !
lished banks refuse for a period of
six months after the act is in force to
come in under the law, may be allow
ed the privilege of guaranty without a
years probation
The concessions made by the house
conferees were that trust companies,
as such, shall be excluded from the
guaranty privilege, but they may re-
organize as state banks and come in
and that bank reserve accounts in
other banks, bearing interest, shall
not be guaranteed.
As agreed upon by the conference
committee the guaranty bill in brief |
provides for guaranty of interest bear |
ing savings deposits up to $1OO and
time certificates of deposit not eX- |
longer and bearing interest Persons |
having small savings accounts, when |
their deposits equal 500, may thus
take out time certificates of deposit |
and have their savings guaranteed |
New banks can not come in under the |
law excepting in towns where the |
established banks refuse to come in /
for a period of six months. Only 3 |
per cent interest will be paid on /
certificates of deposit issued to de- |
pOsitors in defunct banks. No bank |
IL tc- hnl riV1or into
be guaranteed and no trust companies d.
will be permitted to come in under (
the guaranty unless they change to /
state banks
VIII Be Accepted.
1t is believed that the terms of the !
agreement decided upon by the con-
ference committee will be ratified by
both houses. although some of the
more emphatic opponents of the guar
anty bill in each branch of the legis-
lature may put up d fight against the
adoption of the conference report.
The report of the conference COM
mittee Will probably be presented to
both branches of the legislature this
afternoon.
President Pro Tenn Porter, of the SEN
announced the appointment of Sen
ators Glenn and Milhgan as the SEN
ate conferees on S. B. No. 134, the
new weights and measures act.
The senate adopted Senator Quincy's
resolution that committee of three /
senators be appointed on revision of
the senat te calendar and the chair ap-
pointed Senators Quincy, Price and |
I.eidy as the committee on revision.
Senator Hamilton's voting machine
bill No. PA. was finally passed by the
Genate at the morning session today.
The bill has been on the calendar IN
der bills on third reading for several
days.
Debate was occasioned over an
offered by Senator Hamil-
ton providing that if 10 per cent of the
voters in a township protest against
the use of the voting machines that
would be sufficient to prevent the use.
The bill provided that the use of the
machines could be authorized by a /
vote of the ma jority.
Senator Huffman thought the bill as
1t stood ought to please the manufac-
turers of the machines, and he did not
think the amendment offered helped |
the people any. He thought the ma
Mines are not wanted by the people
4f the state and knew the voters in
his district do not want them.
FtSenators Stewart. Carey and Bender !
1a{ored the bill, but objected to the
Senator Hamilton declared he want
ed to be perfectly frank with the sena-
tors in this matter. He said there is
q plant in Topeka that makes voting
machines and his amendment was de-
with the big manufacturers.
The amendment was lost and on roll
call the bill was passed by 81 to II. I
Senator Hamilton was one of the sena-
tors who voted against the bill. He
explained afterwards that he under
stood the bill would prevent the local
company from competing with the big
ger concerns and that was the reason
for his negative vote Later he learn
ed that the bill would not cut out the
local company from competing with
bigger plants.
Senator Hunters bill providing for
state registration of automobiles and
the regulation of their operation on
upon third reading An amendment
by Senator Carey was adopted pro-
Sfding that motorcycles shall pay an
original registration fee of 81 and 81
Yor each annual renewal
Senator Carey stated that ''the sage
of Doniphan" had informed him that
the amendment to the bill adopted
yesterday, which included carriages,
wagons and other vehicles in the
provision prohibiting depredations to
automobiles. could not legally be
placed in the bill. This amendment |
was offered by Senator Cooke.
The senate decided to recommit the
bill to the committee on state affairs
with instructions to obtain further in
formation relative to the point raised |
and report the bill back to the SEN
tion obtained.
Among the bills read the third time
and finally passed by the senate this
morning were the following: H B.
No. 124; H. B~,No. Ia; H. B. No.