The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-07-13
Sentiment For Convening Legis-
lature Is Waning.
Best Informed Think There
Will BE None.
J JACKSON'S OPINION.
Attorney General Satisfied That
1t Is Unnecessary.
Poll by the Governor Is Nearly
Completed.

The chances are now very much
against a special session of the legis-
lature for the purpose of Strengthening
out the tangle between the state and
national banks. The matter has been
checked up to Insurance Commission
er Charles Barnes. If he has the
power and will use it to restrict the
national bankers guaranty company
to the payment of per cent interest
on deposits and thus place them on
an equal footing with the state bank
ers under the state guaranty law the
governor will not call a special ses-
sion.
Attorney General Jackson, speaking
this morning of Commissioner Barnes
powers to restrict and control the
bankers insurance company, declared
positively that he believed that the
commissioner had ample powers in
the matter and that he would so ad-
wise him if Mr.. Barnes came to him
1t is reported that Mr.. Barnes. who
is out of the city today but who is
expected back tomorrow, will act If
the attorney general decides that he
has the power.
Under these circumstances 1t seems
safe to predict that the chances are
now against a special session of the
Attorney General Jackson's argu-
ment against the need of a special
session and showing the insurance
commissioners powers is very logical.
1.-The commissioner he said, 'can
take the stand that he is authorized
by the last session of the Legislature to
pass upon the charter of this company
which proposes to insure bank de-
posits and his powers are outlined in
that section of the guaranty. law which
restricts state banks from paying over
per cent on deposits. That para
graph outlines the views of the legls-
lature on what constitutes safe bank
ing. So, outside his powers conferred
by specific law, the insurance commits
sioner can point to the precedent
established by the legislature on the
particular subject of guaranty of de-
posits after weeks of careful study and
Investigation.
1t seemed to besthe general opinion
in administration circles todav that
the governor would not call a special
session until the attorney general
and insurance commissioner had held
a conference and decided what ac-
tion the latter would take. If the
commissioner decides to act upon the
advice of the attorney general then
there will be no special session. If
he declines to act the governor will
likely call the legislature together at
once. The governor regards the
legislative call as last resort, but he
will not hesitate moment to use it |
if it comes to that stage in the game. |
Attorney General Jackson advanced |
another argument against special |
session worthy of consideration and |
that is the fact that the legislature
would be called in extraordinary ses-
sion to legislate regarding a. theory |
and not a condition of fact. Bank |
guaranty either by state. or private /
Corporation is still a theory. After /
two years of practice the legislature
will. in regular session, be better able
to correct any abuses or inequalities
that may have developed by that |
time. But in dealing with the subject |
now they would have to theorize for
he reason that they will confront
The poll of the legislature by the
governor is nearly completed and
shows that a large majority of the
legislators favor placing the banks on
equal footing. but this poll is not
worth very much when it comes to a
1oint of the members agreeing on the
letails of how this shall be done.