Omaha daily bee., 1909-03-16
Argument of the Savings Bank People
Has Had Some Effect.
SUFFRAGE BILL GIVEN A LIFT
Senate Votes to Indefinitely Postpone
Prohibitory Amendment.
WOULD BUY WAYNE NORMAL
Omaha Delegation as Yet Has Been
Unable TO Name It's Members
on the House Sitting
Committee.
From a staff correspondent

Ntrom a starr correspondents
LINCOLN, March Especial )-Gov-
ernor Shallenberger has added to the toll
of the committee on banking and currency
by submitting a number of Recommended
tions with respect to the bank guaranty
measure the legislature Is seeking to enact
The principal change suggested is that
banks which come under the provision Of
the guaranty law shall have full oppor-
tunity to advertise their relation to the
state to the end that the public may be
informed their deposits are guaranteed As
the bill was drafted, tho advertising fea-
ture was mnimized, due largely to r. de-
sire to have the guaranty for safety only
and not for the purpose of gain for the
state bankers.
The governor asks that certificate
showing the bank has complied with the
provisions of the law be furnished each
bank by the banking board. which may
be hung ur in the banking rooms
token OF authority and, further, his amend
ment provides that the banks may use the
fact their deposits are guaranteed on their
letterheads and blanks. A penalty for mis-
| representation in this respect is suggested
The prospect OF the enactment of the
law has already caused a boom in bank
charters In the state and the knowledge
that the privilege OF advertising will not
be curtailed may and may not have
cheering effect upon the national bankers
| of Nebraska. The joint committee origi-
| nally drafted contained carefully drawn
provision on the advertising feature with
view that only a bare statement OF the
| guaranty feature should be permitted on
banks letterheads, and that 1t should not
be widely advertised as ide from this.
Regulation of Directors.
A number of other amendments were sug-
| gested by the governor. He suggests that
the board of directors of a bank be of not
| less than three or more than fifteen mem
berB selected from the stockholders. and
! that the board select a president, secretary
and a cashier from the stockholders whose
} terms shall be one year. the latter to be
! fully bonded. Directors shall have two
regular meetings a year and the inspec-
ton of the books and holdings Of the banks
shall be thorough. After each meeting
/ certificate of the condition of the bank
shall be forwarded to the State Banking
/ board.
The executive suggests that the provision
Of the bill providing that the bank when
| declaring semi-annual dividends may set
| off one-tenth of the net profits to surplus
until this shall reach 20 per cent Of the
capital stock be changed that the bank
! shall set apart one-flfth OF the net profits
until the surplus shall reach in amount 80
per cent of the capital stock.
Directors, the governor thinks. should be
| given authority to assess stockholders to
restore the credit of the bank II for any
reason this may be desirable.
He is also in favor of striking out from
the bill the provision that stockholder in
a bank must qualify for twice the amount
I tIs In proparfv Outside ~ the hank
subject to execution.
The banking committee has one Of the
biggest loads OF grief now OF any body in
the legislature, for the bankers OF the state
have Just become alive TO the many pro-
visions of the measure affecting them. The
showing OF the savings banks at the public
hearing Friday night was of so great i'm
portance that 1t may be necessary yet to
provide a different system Of assessment
for them II they are 20 be under the guar
antee fund also. Some of their representa-
tives objected to being obliged TO pay the
same high assessments for the guaranty as
the state banks doing commercial bust
ness Their claims are being urged with
some show Of success.
Chairman Volpp of the senate banking
committee has huge pocketful Of amend
ments that have been suggested and
q
notifications. The committee is meeting
nightly. with the hope Of reporting the bill
back at the earliest possible date.
The measure is becoming complicated I'm
form. AS originally printed, the house com
mittee submitted one set OF amendments.
and the house committee Of the whole sub
mitted another set. quite volumnous Tho
senate standing committee is preparing a
new set of amendments and the senate
committee Of the whole may be expected TO
duplicate the work.
And Judge !. l.. Albert was to be paid
$500 10 draw up bank guaranty measure.
He gave up long ago.
state Board Attacked.
The senate. after long consideration and
over the protest of the republican members,
decided to recommend for passage s. f. %.
by Fuller of Seward, providing the state
board may neither raise or lower total as
sessments OF the state returned by the
county board, but may equalize only. Sen
ator King endeavored to show the senate
that as property must be assessed at cash
value the state board must be given au-
thority TO raise assessments that are man
ifestly unfair but the senate held the
courts would not go behind the findings of
the county boards TO cash values, unless
for fraud, and voted the Fuller bill should
pass.
Suffrage Bill on General File.
The senate today placed II. II. 15o by
Jerry Howard. a joint resolution for a con-
stitutional amendment for woman suffrage.
on general file IN spite OF an adverse re-
port Of the standing committee on consti-
tutional amendments.
Following was the vote on motion not
to concur In the committee report. which
was for postponement:
Yeas-Bannng, BocinsOn. Brown, Cain
Cox, Gammil Hatfield Ketchum. King
LaveTty, Majors, Miller. Olli8 Randall.
| Raymond. Thompsan. Warren, Wiltse-is
] Nays-BartoS Besse, Buck. Diers. Full