Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1909-03-13
CHANGE IN LAW
GOVERNING
BANKS
SEMI ANNUAL INSPECTION
SYSTEM PROVIDED FOR
Council Adopts Recommended
ton of Territorial Bankers
Associations Omnibus Armory
Approved by Senators,

Santa Fc, \. NJ, March Il. 7

Santa Fc, n M March IL.
The council held a short session
this afternoon and had Mr. Catron had
his way it would have been much
longer. for the gentleman from Santa
Fe desired to take recess to allow
The steering committee to consider
some twenty-seven house bills and
considerable number OF council bills
which had been referred to 1t.
Mr. Hanley. of Befnalillo, however,
objected 60 hasty consideration and
moved to adjourn until tomorrow
morning at 10 O'Clock to allow the
steering committee time 10 work. The
motion to adjourn carried by a vote
Of 3 10 3. Messrs. Catron, Spiess and
Upton voting no.
Tho salary increases for county
trcasurers aud county assessOrs, coun-
eli substitute for council bills Nos. 36
and 81, camc into the council early In
the session carrying a house amehd-
mrnt aud was referred to the steering
committee.
There Is a strong opposition 20 this
amendment IA the council since u
gives nsscssors and trCasurors IN hd-
ditiOn to thVir regular salary, four
per cont on all licences II IS not
now believed that the bin can pass
tin council carrying this amendment
Among othrr Bills which cam" into
the council this afternoon WAS house
Joint resolution No z inviting con
grcsa TO send committee out to New
Mexico to make an Investigation. Mn
Catron said that we did not want any
investigation nnd that he objected to
the Invitation as indicating that We
needed IL
The council passed two important
bills during the session. One of these
is council substitute Tor council pill
80. 5l. an act tu nmead the baakinr
law creating the office Of assistant
to the travelling auditor. and provid-
ing for the examination OF banks and
territorial institutions
The amendments to the banking
law were agreed upon recently ~ q
meeting Of the executive committee
of the Territorial Bankers associa-
ton 1t provides that all banks OPP
Grating under territorial charters ana
all private banks shall be examined
twice each year and prohibits the con-
duct Of banking business without
authority of the territory The as
sistant to tho travelling auditor, who
Is also 70 act as bank examiner, Is
to receive a salary of twenty -four
hundred dollars per year and one
thousand dollars for travelling and In
cidental expenses and with the assist
ance Of this official the travelling au-
ditor Is required to make an annual
examination and report of the ac-
counts Of all territorial institutions.
and such other examination ana re-
port as the governor may direct
Thc bill passed by unanimous vote.
Tho other bin was the omnibus ar
morY bill carrying u total of $3s-
600, ana a couno II amendment proNid-
Ing that the appropriation he paid py
means of certificates uf Indebtedness
there not being sufficient surplus Ia
the territory's treasury TO meet the
appropriation.
Tho bin carries Sl3,500 for Las We
gas sh.5O0 for Santa Fu, $1,000 Tor
Roswon $1,000 for Silver city aud
$500 fpr Las Cruces
Tho vote on the passage OF this bill
was unanimous.
Council bin No 75. by Mr Hanlcy;
an act amending the law relating to
the approval of plots for additions To
cities and making provision for cN-
tension of streets. was held over on
objection Of Mr. Spless ana Mr. Prince.
other bills passed were;
Council bin No 14i, by Mr. Prince:
AN act to amend section 3, of chapter
ti5 Of the laws Of 1905. seeking to
prohibit the establishment of saloon
within five miles of any grading camp
or other place outside of an incor-
poratrd city or town. where twenty
five mon or more are employed
Council bin M. "a, by Mr.. Baca, Of
Socorro county. relating To the gov
erumcnt of the Socorrn land grant
The council passcr- council Joint
resolution No s. hy MI Stackhouse.
thanking Tho IEl Fusu chamber of