The herald and news. [volume] (Newberry S.C.) 1903-1937, 1909-01-26
ed with reference thereto.
''Respectfully,
"W. J. Gooding,
"J. W. Babcock. -
Amends Banking Laws.

W. =. uOouluS:
u. W. Babcock. -
Amends Banking Laws.
Mr.. A. G. Brice, Of the house, has
introduced a bill Of general interest
to the banks Of the State. The bill
provides: That Chapter NLllI, Of
Volume l, Of the Code Of Laws Of
South Carolina. 1902, be, and the
same is hereby. amended by inserting
therein after Section 1,74, the fol-
lowing two additional sections fo be
known as Section 1.744 (a) and Sec
ton 1.744 (b) as follows: Section l.
IA (a). Every bahk or banking in
stitution receiving deposits shall at
all times keep and have on hand as a
reserve fund an amount equal to fif-
teen per centum Of its active deposits.
and five per centum of its savings
deposits. Section LIZA o. Every
bank or banking institution shall set
aside to its surplus account not less
than one-tenth Of its net earnings
each year, until its surplus shall be
equal to twenty-five per centum Of
its capital stock. And it shall be the
duty Of the State bank examiner to
enforce this and the preceding Sec
ton.
Wants to Eat on Sunday.
Mr.. Rucker, of the house, wants
Sunday meals and has presented this
bill in the general assembly:
Relating to The powers Of munich
pal corporations in reference to serv-
ing meals and lunches to travellers on
passenger trains on Sundays:
Be it enacted by the general as
semblv Of the State of South Caro-
lima:
Section l. That from and after
the approval of this Act, no munich
pal corporation in this State shall
have the right to pass any ordinance
prohibiting hotel and restaurant
keepers or other persons from serving
meals or lunches to passengers on
trains within the limits Of such mu
nicipal corporations on Sunday, and
ali such ordinances heretofore pass
ed are heerhy declared illegal and
void.
Sec. ,. All act or parts Of acts
inconsistent with this act are hereby
repealed.
Statements by Corporations.
The committee on interpretations
will report favorably on the Brown
ing bill, which requires all corpora
tions to keep on file statement, and
that such financial statement shall
be open to inspection Of stockholders.
It will report majority unfavorable
on Mr.. K. P. Smith s bill to require
such financial statements to be mall
ed, at least once a year to stockhold-
ers Of record.
The chief difference between the
Browning and K. P. Smiths bills are
that one looks to mailing sworn
statement to each stockholder, and
Mr.. Browning's bill requires that
certified statement shall be made
once year, and that it shall be open
to inspection of stockholders. Pun
ishment is provided in case these re-
ports are falsified.
70 Protect Foxes.
Mr.. Wright had a bill to include
Aiken county in the law for the pro-
lection of foxes. The bill was given
its second reading but not until lit
tie rider providing that nothing in the
bill shall prohibit the killing Of foxes
while engaged in killing anything
Was attached to it. The result will
be that all foxes killed will be ell
gagged in killing or trying to kill
Under the bill. as adopt
ed, many ounties undertake to pro-
tect foxes during certain seasons Of
the year.
The house calendar continues to
grow, and the members will this
week have to buckle down to work.
\ resolution was adopted authoriz-
ing the speaker to engage an aSsls-
tant, who is authorized to do such
clerical work as may be necessary
and be a general utility man.
The resolution looking to issuing
charter to the Clinchfield railroad is
being held up pending the introduce
tion and passage Of a general bill au-
charters in such cases.