The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1909-02-20
Waterways Committee.

two years.
Waterways Committee.
The special waterways committee
has returned with the idea that the
thing for the state TO do is TO regulate
the water power companies in the mat.
ter of taxation and rates rather than
seek to hinder the development of the
water power OF the state. The com.
mittee will make further investigation
before making a report, the desire OF
the member being to work out the
best possible solution of the problem
in the interest of all the people OF the
state.
Possibly the most notable action OF
the week was the passage by the sen.
ate OF the anti.lobby bill. This was
not done without much discussion, al.
though but three votes were recorded
against the measure on final passage.
The bill requires all lobbyists 10 reg
lister and disclose the source OF their
employment AMI after appearing In be
half of pending measures 10 file a
statement OF compensation and ex
penses. The bill applies TO all public
officers, deputies and clerks and all
corporations and associations. pro
viding a severe penalty for directly or
indirectly attempting 10 influence leg
islatIon by gift, appointment TO Office
or position The house will give at.
tention TO this bill within the next
fortnight probably and the indications
are that Il will become a law.
To Amend Banking Laws.
Bills are being introduced freely IN
both houses. although. owing to the
provision Of the new constitution
which does away with practically all
local legislation the number Is much
smaller than al previous sessions,
Among the number OF important ones
which have made their appearance
during the past week are several
which seek TO amend the banking laws
along the lines recommended by the
Michigan Bankers association. The
association believes that the salary OF
the commissioner OF banking should be
increased from $500. the present
rate. to $4,000 per annum and that a
sort OF civil service system TO govern
examiners should be provided and that
the examiners should receive better
compensation In order that the state
may retain their services.
In the past the experience OF the de
partment has been that many OF rs
hest examiners are offered higher sal
aries by banks Just as they are oi
the greatest service 20 the state. II Is
proposed by the association that the
deputy commissioner be given sal
AIRY OF $4,000. and the salary OF exam
liners be graded from $1,000 for the
first year OF their employment. 10 a
maximum OF $4,000.
Examination for Examiners.
AZ present salary Of 100 Is pro
vided for all examiners regardless oil
length OF service. Il is proposed 20 In
/ crease the minimum salary by $3.50
\ per year until the maximum is reached
and that all examiners be required "a
pass an examination before a board Of
\ three bankers 20 be appointed by the
governor. Directors N every state
hank are required. by the terms OF the
hill. 10 hold monthly meetings for ths
examination or consideration Or loans
and discounts and general review oil
She business and affairs OF the bank.
IN case the examination BY the com
missioner disrloses an impairment ol
capital stock. that official e. required
10 assess the stockholders Ia proper
ton "a their stock holdings and direct