The Norfolk weekly news-journal. (Norfolk, Neb.) 1900-19??, 1909-02-26
I'll Passes the House After
Long Declaration.
KNOCKS OUT OLD CUSTOM
South Dakota Senate Adopts Anti
Treating Bill and House Passes Bill
Prohibiting Sale of Cigarettes.
Deadlock on Interest

OF interest last week was the house
deliberations in committee of the
whole upon the proposed bank deposit
insurance act. Briefly the act pro.
vides that Number of banks may
voluntarily associate and pay certain
stipulated fees into the state treas
ury which shall constitute an insur-
ance fund from which losses to depos-
itors may be paid. In the committee
the chief points at issue were the
number of banks which must associ-
ate before the law becomes effective;
minimum capital to be required OF
each; the fees and premiums to be
paid and the rate of interest permissi-
BILE Messrs. Issenhuth and Johnston
for the committee on banks and bank
ing had the management of the bill
and Speaker CLANCY led in the de-
mand for certain amendments cover
ing the points above indicated. The
number of banks required to open the
association to business was fixed at
100. Chaney's motion that the max.
imum rate of interest be fixed at 1
per cent and that funds deposited at
a higher rate should not be protected
by the insurance prevailed. Taylor
presented most important amend
ment, which was adopted. 1t required
banks Withdrawing from the associa-
ton. to give thirty days notice to de-
pOsitors. Van RuSChen's plan for a
graduated entrance fee of 500 for
small banks, increasing by $40 jumps
TO SITS for the largest, was adopted
and the premium is to be | mill on
the dollar of deposits. The bill then
passed.
Mr.. EriCkson's bill for nail lnsur-
ance under the supervision of the
state was discussed at much length in
committee of the whole and referred
to a special committee for further
consideration. 1t is in principle iden-
tiCal with the bank deposits insurance
measure and some of the members
argue that it is inconsistent to pass
the one and ignore the other. 1t does
not impose any obligation upon the
state except to appraise the damages
from hail and to equitably pay out
the funds to those suffering losses.
!. \ :.
The senate state depository bill has
passed. 1t creates a state board of
finance consisting of the governor,
secretary of state, auditor, treasurer
and public examiner, who are to de-
post the state funds in bonded banks
to be distributed about the state,
O., ho ;,to
rate, and the treasurer is relieved
| from responsibility for funds so de-
| posted. This has been a vexed sub
| ject since statehood and this Is the
| first practicable settlement of it.
4 i. i.
The total demands upon the treas
ury as presented to the appropriations
committee exceed $3O00,OOO. This is
much in excess of the revenues and
the committee is now engaged in the
delicate task of pairing down the esti-
mates. 1t will probably be late in the
session before the general bill is
ready, perhaps as late as March l.
!. i. !.
The last bill day, that is, the last
day on which bills could be intro
duced without special consent, fell on
| Feb. Is and not before in the history
Of the state have so many measures
been presented upon a single day, nor
has the aggregate before been so
large. SiXty-three bills came into the
house and forty-five in the senate. The
total number of house bills reached
400 and more than 300 are in the SEN
ate. Seven hundred bills are a good
many to give careful examination to
In the brief space of sixty days and
not more than forty-five of actual ses.
sions. The bills this year are un.
usually brief, only two or three meas
ures of any length having been pre-
sented, these being the standard life
policy bill, the military bill and the
ueeotiable instruments act
i. j. j.
In the house Friday Mr.. Brady's
bill absolutely forbidding the sale or
manufacture of cigarettes, or the
"makins," was passed by an almost
unanimous vote and that notwith-
standing the committee on public
health had returned the bill with an
adverse report, deeming the law of
two years ago sufficient. Brady, who
is an Irish schoolmaster and a Demo-
crat, had introduced but the one bill
and had not previously spoken upon
any question, but upon the considera.
tion of the report he made an elo.
quent plea for the boys, reciting some
of his own observations, and the house
reversed the report and sent the bill
to the calendar and when it had
passed the members fiocked around
the author of the bill giving him such
an ovation as no other member has
received in the session.
i. !. !.
At this writing the house and sen.
ate are deadlocked upon the rate of
interest upon registered state war.
rants. The present rate is 7 per cent
Senator Ewert introduced a bill lower
ing the rate to 6 per cent, but it was
amended to upon the floor, The