Palestine daily herald. [volume] (Palestine, Tex.) 1902-1949, 1909-05-12
SENATE WON AT FINISH
Final Agreement on Bank Guaranty
RiII-BeIieved Governor Campbell
Will Approve the Bill.

WIZ HPRt0NS eiiS Dii''
Austin, Texas, May 1.-THE gen
eral appropriation bill carries, as fl
nally agreed upon, approximately SIS,
100000. This, however, does not in
clude the Hill amendment thereto
The committee finally agreed on $240,
600 year for the University of Tex
as. The house bill carried an appro
priation of $2SO,00O and the senate
bill $260,000, and compromise was
reached on the amount indicated here
in. Another compromise is that fol
the holding of state encampments
The house bill carried $4,000 for the
next two years, while the senate bill
carried $4,000; as agreed to by the
committee, the amount for encamp
ments was fixed at $4,000 or $4,000
a year, which is satisfactory to Adju
tant General Newton and will insure
encampments for the next two years
The San Jacinto battlefield amend
ment was left intact The house bill
carried $4,000 for the two years and
so did the senate bill, and it was left
in the measure. This insures a con.
tinuation of the work of beautifying
the San Jacinto battlefield as the
commission will now have the sum
given above besides an unexpected
balance of $1,000 in the treasury.
AS soon as both branches of the leg
islature adopts the free conference
committee reports on these measures
and the bills signed, final adjourn
ment will be had, which is expected
to be some time this afternoon.
Bank Guaranty Bill.
The changes made in the bill, which
had been accepted by the senate, are
in a large degree merely corrective
amendments and there are innumer-
able changes of this caliber.
One Important Point.
Perhaps the most important point
in the whole of the committees pro-
ceedings is that it failed to adopt the
feature of the house bill regulating
the amount of capitalization for banks
according to the population of the
towns and cities in which they are 10.
Gated. The house members strongly
supported this provision, but failed to
obtain agreement on the part of the
senate members.
There remains, however, in lieu OF
the provision mentioned the provision
that the minimum capital stock shall
be $4,000 and the provision of the
senate bill providing for the increase
of the capital stock rs per cent in
ratio to the increase in the average
daily deposits. The plan provides for
the increase to be made in case the
average deposits on October / of each
year are five times more than CAPT
tai stock of $4,000 or less; six times,
$4,000 to $4,000; seven times, $780,
600 to $4,000; eight times, $4,000 to
$4,000; nine times, $4,000 to $780,
600; ten times, 100000 or over, Pro
vision was also made that it shall be
required that a bank, which purchases
the assets of any other bank shall in
crease its capital stock to such an
amount that same will have the ratio
to the total deposits of the bank the
assets of which it has purchased is
already defined.
The provisions of the act were
changed SO as to provide that banking
charters, filed with the secretary of
state, shall be turned over to the
banking board, which, after the bank
has been satisfactorily examined by a
state bank examiner, and the board
has satisfied itself that the law has
been complied with, shall turn over
the charter and the certificate, pro.
vided for by the law, to the applicant
bank