The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1909-01-27
THE SENATE

The senate yesterday afternoon re.
stored to the Roddie banking bili the
original schedule OF minimum capital
l1ation required for state banks Rod
! dies measure amends the present
banking law and contains a section re.'
qulrimg various amounts OF capital Tor
state banks. according 70 the size OF
the towA or city ~ which they are lo.I
Gated Some time ago Ia the commit
tee OF the whole these amounts We're
reduced al down the line and the au'
thor Of the bill az the time gave no
tice that he would attempt 70 get the
original provision Ne Inserted when the
bill came up on the floor Of the senate
liIa made good when the measure came
un for consideration yestcrday.
Three sections Of the bin we're ce
faffed to o special committed consist
na OF Echols. stafford and Roddie, to
be reported on at tue saasion this
morning
1 STAFFORD proposed an amendment uns
der which the various state banks
would b. allowed 10 retain the asseas.
menta levied against them for the
guaranty fund, subject TO night draft
/ hy the state banking board aud paying
Interest az the rate Of 3 per cent. He
believed the fund would BE- safer II
distributed among large number Of
banks tham II e0naeated m One place
Roddie replied that ID case the BANKS
failed the money could not be collect.
cd. and that II the money was permit
! ted 10 be retained in the banks. there
iSould be no guaranty fund at all, An.
other argument against the stafford
lameEdm nt was that ,he fund ia now
drawing 9 per cent, as agaiaat the :
lpef cent proposed by STAFFORD.
! Williams asked where the money ~
ln0w deposited and Roddic replied tnat
very little Of Il Is deposited anywhere
most of 1t being invested Ia slate war
lfants.
ColVille, smith and Rlssell were all
0i stailOrds opinion and Il wa9 stat.
a. that anyway The money belonged IN
reality to the banks and not 20 tho
state. Hence Il was believed that they
should have some say as TO as disposl.
lti0n Il was sprtGer stated that the
Bankers association In their recent
: injecting az Muskogee had adopted re-
aOluiiop embodymg abont the same
! nnRuaEe as sE..t o. Tie St9iforl
Iamehlmen,,
Davis TOOK on opposite view belley'
Ing that The money was safer In mo
hands Of the banking board. Memmin'
} lger followed with leiensp OF the star
( ford plan aud was much inclined 70
doubt The statement Of the Brlstow
senator
Memmlnger proposed TO eut out the
lpruvision thar only guaranteed banks
might be recognized as public deposit
tories 10 the state, declaring tnat Il
was rank lndlscriminaglon against the
nationals. Eggermnn was OF the same
opinion and said the state was going
Wild with the idaa Of fayofing cor
tain class oi banks.
RoddIe defended the proposition OF
axcludlhg the national banks as pub
lie repositories. declaring that many
Of them wcre applying for admission
under the guaranty plan. The hanh
commissioner. ho said had had u
turn down some OF them, while others
had been given time 10 eamply with
Z ths requirements Of Che law.
T. Mere discussion followed AID on
e vote The Memmlnger amsndmenl wa
4 defeated.
j. Eggerman's amendment Was adopt
t cd, under which the amount OF aiai,
{ funds TO BE- deposited tn a guaranteed
& bank without further security " limlt
4 ed one-half Che capital and surplus ol
. the bank
There was q sharp debate over lhl
/ report of The committee on rules tN
! ing The time OF conYenng at 10 IN
stead of 1880 o'clock However, It wai
decided mat tho morning hour was e
Pie preferred
Formal service was had on Senator
Hurst. defendant IN the Warren.Hufsi
cuntegt and he a required tu make an
gwer In three days.
Franklln's bill, placing responsibility
in transit on tho last carrier, was pass
ed on third reading.