The Brookings register. [volume] (Brookings, Brookings County, S.D.) 1903-1971, 1909-01-07
LEGISLATURE
IN SESSION
Convened at Pierre Tuesday For
Regular Grind
GOV. CRAWFORD READS MESSAGE
And New Governor Delivers His
Inaugural Address

The senate caucus Monday night
selected as principal officers Frank M.
Byrne, president pro tenn of the SEN
ate; l.. M. Simons of Butte, secretary;
Roscoe Mercer of Hyde, assistant Sec
retary; o. NJ. Osbon of Beadle, SER
geant-at-arms; John Mcdonald of
Beadle, assistant sergeant-at-alm
The house caucus Tuesday selected
as officers: NJ ]. CLANCY, of Clay.
speaker; J. w. Cone, of Minnehaha,
chief clerk; Geo. Van Camp, of HYDE,
first assistant; II. Burden, of Penning-
ton, second assistant; Geo. B. McClel-
Ian, of Lawrence, bill clerk; w. f..
Reeves, of Hand, chief of engrossing
clerks; Reed Matheny, of Sphinx, as
sistant; r. NJ. Oscrip, CT Lincoln,
Sergeant-at-arms: James Olsen, of
Union, assistant; A. J. Crawford, of
Grant, postmaster; Frank Perdue, of
Grant, assistant: X. w. Leavitt, of
kingsbury, watchman; Perry Oldfield,
OF Clark, watchman.
Both houses met at noon Tuesday
and proceeded with their organiza-
tion by the selection of caucus nom
inees, the oath Of office being admin
istered to the members of the senate
by Justice Haney, and that of the
house members by Justice Whiting.
After the organization the two bod
les met in joint session in the hall
of the house and in that room the
oath of office of the newly-elected
state officers was administered by JUS
tice Haney
Retiring Gov Crawford thCn read
his message covering the affairs of
the state for the past two years, and
Gov. Vessey read his shorter message,
in which he leaves the details to be
gathered from the longer document
by Gov. Crawford.
Both houses then took a recess until
Wednesday.
Gov. Vessey's message was brief
On matters of most important interest
he says:
Il recommend the enactment of a
law providing for the designation of
Repositories of state funds and the pay
ment to the ctate OF interest on the
daily balances in such repositories.
The regulations governing such deposi-
tories should be uniform and open on
equal terms to all the banks of the
state, and no bank outside of the state
should be eligible to selection.
There is strong public demand
for the insurance of greater safety
of bank deposits. The people are call
ing for some action to protect them
in this respect. Our party platform
declares in favor of the insurance of
bank deposits in case of the establish
ment of postal savings banks. | believe
that a wise measure should be framed
by which it void be made possible
that all bank depositors shall be as
sured against loss. Pending the evOlu-
tion of such a measure, l recommend
that the safeguards around our banks
be increased and made more strict
Our laws should be amended that
no bank may be allowed to incorporate
with less than $4,000 capital. No
bank should be allowed to invest in
it's building and furniture more than
40 per cent of it's capital and surplus.
The amount of money bank may loan
to it's own officers should be reduced
and carefully restricted; if, indeed,
such loans should not wholly be pro-
hibited. Banks should be compelled
TO bond their active officers in stated
amounts, the bonds to be approved by
the state examiner. When the depOs-
its of a bank exceeds ten times it's
capital and surplus, such bank should
be compelled to increase it's capital
or give bond to the state for a proper
tional amount of such excess. No
bank should be permitted to be a
stockholder in another bank.
But while we are thus placing safe
guards around the banking business
by means of salutary restrictions we
should not for moment forget that
no bank can have any other standard
of safety of it's assets; and If we I'M
pose restrictions and hedge the busi-
ness about with safeguards, it is but
just and right hat we should also give
to the assets of banks that quality
of safety which we are seeking for
their deposits. To this end, earnest
ly recommend that you pass the uni
form negotiable instrument law which
has found favor in so many of our
sister states Also the exemptions al
lowed in this state should be reduced.
At the present time they are unreas-
onably high and their very size re-
duces the safety of otherwise sound
loans.
Another source of great annoyance
and embarrassment to the banking
business has been the numerous and
successful burglaries within the state.
AS a means to helping stamp out this
curse, l recommend that you make the
penalties for bank robberies more sew
ere and also make 1t crime for any
person to be found with nitro-glycer-
inc or burglars tools In their posses
sion. unless he can clearly and pos
itively show his intention to use them
for legitimate purpose.
II recommend an entire revision OF
our Insurance Code and the enactment
OF a new code modelled, SO far as our
conditions permit, upon the codes Of
Massachusetts,, Colorado and Connects.
cut.
THE Office of Hotel Inspector. Great
ed by the last legislature, has we'll
justified its existence. It's authority
should be extended to the kitchens
and bedrooms Of hotels and to the