The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-02-06
viii Be introduced by House
Committee on Eanking.
STUBBS is SATISFIED.
Says That 1t Is Entirely Salts
factory to Him.
Fair to the Bankers and Still
Effective.

After two weeks OF pSiuStakiug Ia
Dor the house committee on banks and
banking has completed its xork OF
drafting a guarantee deposit bill out
Of the dozen different measures intro
duced and referred 10 it for report.
The committee has conferred with at
torneys, other house members. bankers,
the governor and party leaders and in
fact any and all persons from whom
any information relative to an eTec-
tive and just guarantee law might be
gained and in 4 final effort TO perfect
its bill has set a meeting with the
bankers OF the state for next Wednes-
day AT which time the bill will again
be gone over. II Is rot likely. how
ever that the committee will agree to
any material amendments TO the meas
ure unless good reasons can be shown
therefor
The bill as prepared BY the commit
tee may be called the Off
ciaI or party bill It provides for a
guarantee fund OF d quarter OF Il mill
Ion dollars and does not provide how
soon a failed banks affairs are TO be
wound up and the depositOFs paid The
bill viii not likely meet the full ap-
probation Of the radical members Of
the legislature, nor On the other hand
is It apt TO be endorsed cheerTuIIy by
the conservative element
Stiu II provides. IN D. way for
guarantee Of deposits and makes many
concessions To the bankers. excepting
always the guarantee fund. which is TO
be held by the state treasurer and rot
under control Of the bankers But then
this fund has been materially reduced
in this bill from the amounts fixed by
other bills
Stubhs Likes 1t.
Speaking today of the guarantee
deposit bill prepared by the house
committee on banks and banking
the best bill that had yet come under
his observation In fact the ehiet
state executive seemed perfectly viii
ling 70 have IL called the administra-
tion bill The banking committee OF
the houSe ard senate have neId most
- trsir meetings in the governors
office md he has fhsretors been in
close touch with the measure in its
framing
rTittee.'' said the governor today is
as fair as II can be TO the bankers and
at the same time retains its effective
ness 50 far as the demand and need for
such a law IS concerned IN this OF any
other state Some of the plans of
bank guarantee have only guaranteed
part OF the deposits but 1 have held
out all along for the guarantee OF al
Of them Il is for the man Of small
or moderate means that this measure
is especially intended as protection
against bank failure and the sweeping
aTdK or MS E6EuIuS=r 6AAAe-SS-t1 0OEA1A
by dollar by his frugalty and self
deniaIs
.sTFfs IS the first bill Of guarantee
of deposits that has been reasonably
satisfactory TO the national bankers of
the state I have heard expressions
from many bankers on this bill and
they generally agree that It IS a fair
measure.
7 believe that we have here a bill
strong enough and yet 50 well bal
anced and irnparti4IIE drawn that will
go through the legislature The con-
ssrvative and radical can rally around
this bill. and while there may be
amendments proposed and added 10 it.
vet there Is a splendid chance that
none Of these will materially change
the object Of the measure
The governor at this point in the in
tervfaw called Senator Huffman Of
Cherokee. who was in the executive
of1ce. and asked him what he had
heard from the bankers of his district
regarding the bill Sena tor Huffman
had heard from a national and a state
banker IN the most favorable terms
regarding the bill and did not hesi-
tate 70 say 50
THE administration measure mas
met with the appreciation Of the bank
ers generally he said. @.aud at the
same time I regard it as q Ineffective
law ca aIcuIated TO fulfill all the benz
dts intended by It's trainers and desired
BY the citizens Of this state"
That i the idea exactly said Gov
eruOr Stubs referring to Senator
Hufman-s remark above, at the close
OF the interview