Saturday news. (Watertown, S.D.) 19??-19??, 1909-03-12

tol covers the excess OF the present
year.
Banks and Banking.
Perhaps the one topic of greatest
interest in the campaign and before
the Legislature, aside from financial
matters, was the proposition to insure
bank deposits, This was a platform
plank and consequently the legislature
reluctantly considered it. The bill
adopted was modification Of the
proposition introduced by Issenhuth OF
Sphinx and provides that not less than
100 banks. having $ ,OO0,o0 in CAPT
tai may voluntary associate for the
Insurance Of their deposits. An admia
sion fec, graduated from 500 upward
is TO bc paid and policy lee or pre-
MUM OF = mills on the dollar of aV-
erae" deposits In case OF losses eX
ceding IN" funds on hand each bank
in the association may be assessed to
not exceed 4 mills upon its average
deposits.
/" his annual report The public tX.
amincr made many suggestions for i'm
provem"nts in the banking law. The
pankine committee of the senate re
pore bill cmbodying practically
all of his suggestions and it was
passed.
Railroad Legislation.
About forty bills were introduced
Into the legislature pertaining to the
regulation of railroads and the fol
lowing were enacted into law. Pri
marly most of these bills were very
arbitrary in form, requiring the rail
road companies to do certain things
under penalties. but with tho eNcep.
ton Of the 2-cent rate bill all were
modified to empower the railroad com,
mission. In it's discretion, to do the
things it desired. These bills were .
The 2-cent rate bill; requiring trans.
fer tracks hetween connecting Iii SSSs
requiring reports of all wrecks and
casualties to the railroad commits
sioners; providing for building via.
ducts over street crossings; providing
penalty for failure to repay over
charge on freight within sixty days:
providing for determining the rental
value of warehouse sites; requiring
railroads to install safety appliances
at railroad crossings and draw
bridges; requiring switch lights to be
kept burning all night at each station :;
requiring toilet rooms to be provided
at all stations; requiring the fencing
Of the right Of way; requiring water.
ing tHougns TO be provided at all stock
yards; authorizing the railroad com
mirsionors to prosecute actions before
! the interstate commerce commission
prohibiting gambling and the drinking
Of intoXicants upon trains.
insurance.
Last year there was a good deal OF
| criticism upon the methods pursued
| by some insurance companies in sell
Ing bargain counter insurance" and
Governor VeSsey came to Pierre de
termined upon securing legislation
that would regulate these matters
| Senator Byrne took charge of the ad.
| ministration insurance measures and
secured The passage of bills prescrib
Ing standard forms Of fire insurance
1 policies; standard form of life poll
7cies aud standard form of stock in
snrance policies and also recrganizing
the state insurance department anG
giving to 1t ample power to protect
the public against wild cat insur
ance Of any kind.
Other insurance bills require state
mutual companies to keep on hand a
rs per cent reinsurance reserve; limi,
the liability of insurers in mutual com
panies tC the amount of unpaid poll
cies; regulate fidelity bond insurance;
prohibit accident insurance companies
from giving presents Of merchandise
with their policies and prescribe the
duties of secretaries of county mutual
companies.
Economy in state Affairs.
There has been much proper crit
fcism of unnecessary waste In public
printing and in the expense of legis
lative sessions. Printers have done
the work cheap enough, but public Of
ficers have made up their reports
/ without any system or regulation and
generally speaking, it has been con
Rfdered that the officer who coulC
print the most stuff was the best fel
low. Chairman Cable OF the house ap
preparations committee took vigorous
hold Of this subject and secured the
1 passage of number OF bills, known
as the Cable bills, which seek to limit
the expenditure for public printing
and for general economy In state at
4 fairs These bills provide that no of
| ftcer or board shall create deficiency
| for any purpose whatever without the
written consent of the governor; an
other requires strict termination OF ey
cry voucher upon which money is
paid; a third requires the auditor, in
his biennial report, to publish the
items in every voucher upon which a
warrant is issued and still another
fixes a definite limit upon the number
of pages OF printed matter which ma,
be contained in each report. Y.
Senator Dillon took up the matter
OF legislative expenses and In three
, :