The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1909-05-04
Disposition Among The Senators
and Representatives 10 Gel
Together on Guaranty
To TRIM ApPROPR|AT |ONs
SENATE ltnancr Committee vii II Is
BcIifvcd Deeply Cul Amounts Car.
ned in House BiIl--fcars
Another Session

Austin. Texas MAY I The logis-
lature took II easy yesterday The
senate had intended 10 take Mp the
penitenuary railroad bin. but was
prevented from doing SO because OF
the failure of the state printing con
tractor to furnish copies on time.
The bill authorizing surety compan-
les TO form associations FOR the con
troll Of rates was considered instead
and finally passed after having been
amended so as TO preserve the state S
right of supervision in the premises
and lay off was taken until tomor-
row.
The house killed the tuberculosis
commission bill and engrossed the
bill authorizing a loan of 100000
out of the general revenue fund to
the penitentiary board to be used in
starting the iron furnace at the Rusk
prison. II also granted Mobley's re-
quest ltut ~ llitlh~ ~ AAi' ! y l'P' = VI
the committee on banking on the
Alexander-Terrell bank guaranty bill
be dispensed with The gentleman
from Henderson explained that this
report recommended that the Meach-
um-Greer qe,al bill which had al
ready been3eak, R,. be substituted
for the Alellucting fdhll bill. He
He also st2kdlsts h1nhalnmittee
had few an
propuseu sub<uN had |s.'7'.'
could be easily ex: as they
came up, The reporGI win be discuss
ed today
The committee amendments refer
red to by Mr.. Mobley are designed
to, in some respects, conform the
Meachum bin to the Alexander-Ter-
rell bill in order to get the senate TO
accept it II possible. Among other
things, they provide that the maxi
mum assessment for mutual guaran-
ty purposes shall not be more than
B'i VIII VI Niit dN'thH' ohiiy h'pOnT
It's in any year, exclusive of the reg
ular assessment of IA Of | per cent
except in cases of emergency, when
it may be as much as 2 per cent.
This 2 per cent may not be levied
successfully more than twice, how
ever. The provisions for the issuance
OF certificates to depositors in case
the fund is not sufficient to pay
them in cash IL eliminated, Senator
Terrell of Bowie has, II is under
stood. been furthermore promised
that the provision authorizing the
banks to lend money on stored cot
ton to within 10 per cent Of its mar
ket value, will be so amended as TO
meet his objection to giving the
banks lien on the cotton that
would place It in the power of the
banks to close 1t out at will
The optional feature of the Mea-
chum bill Is also eliminated.
The disposition seems to be to get
something that will be acceptable all
around in order to avoid the threat
ened extra session. Whether the ef-
forts that are apparently being made
to bring this result about will be
successful remains to be seen.
Nothing was said in the house
yesterday about reconsidering the
vote by which the appropriation bill
vas saddled with the provision of
81. .06S,900 of the Waters-Pierce OIL
fine shall be applied to the retire
ment of state bonds maturing July
/ On the contrary, the bill was sent
over to the senate which promptly
| referred 1t to Its finance committee
| Chairman Willacy OF that commit
tee says that he will favor appropri-
ating but 100000 of the oil com
pany's fine for bond retiring purpos-
es and frankly admits that he fears
that deficit will show up In the
| general revenue fund II more of that
money Is applied to the purpose re-
ferred to-
The senate finance committee Will
| II Is further announced, endeavor t'
trim the house appropriation bill II
other respects. In order to meet the
governors views.