The Topeka state journal., 1909-02-19

have them say: eve asked for bread
and .ye gave US a stone" which would
be the case if the interest bearing de-
poSits are eliminated.
Senator Quincy offered an amend
ment to the Fowler amendment to
strike out the provision guaranteeing
savings accounts bearing per cent in
tereSt not subject to check upon which
so days notice is required before with
drawal This portion was. also includ-
ed in the Fowler amendment
HamiIton's Losing Fight.
Senator Hamilton made a speech on
and only outburst of applause from
the galleries during the con-
sideration of the bill, and in
fact since the opening of the session.
In the city of Topeka said Sena-
tor Hamilton. there is bank which
has little stool on which little kids
about feet high and smaller stand in
order to reach the window and deposit
their small earnings in the bank And
I want to say that if this legislature
savings of those little kids shall not
be protected the same as the rich busi-
ness mans deposit, there will arise g.
protest from the people of this state
that will have teeth in it,
The galleries broke out in hearty ap-
plause, but this expression from the
people apparently had no effect on the
senators, for the Quincy amendment
afterwards the Fowler proposition as
amended was also adopted and which
completed the amputation of the inter-
est bearing deposit provision.
Senator Cambern endeavored to have
the bill amended so that no bank
which pays more than 4 per cent on
any deposit shall be permitted to par
ticipate in the benefits of the act. Sen
ator Quincy, however was still on the
job and the amendment was defeated,
leaving the interest rate at per cent.
On motion of Senator Quincy the pen
atty of 500 against any guaranteed
bank violating the provisions of the bill
was eliminated. The remaining sec
tions of the bill were read and adopt
ed without material change and then
it was subject to amendments general
ly.
Limit ON Time Deposits.
Senator Price thereupon offered an
amendment to section 6, providing that
time deposits for six months up to S3,-
300 bearing not more than per cent in
terest be guaranteed by the act. In
support of his amendment Senator Price
said:
II think this bill has not been con-
sidered by the senators with the same
calm deliberation that is customary in
matters of legislation. This bill as 1t
came from the committee was a good,
business-like bill, but as
it his been indiscriminately amended 1T
has become absolutely meaningless and
worthless and any bank depoSitor, If he
were governor, would veto it. The pur-
pose of my amendment is to reha b11-
tate the bill in one particular.
Il understand there are $20000,OO0 in Kan
sas banks that cannot be guaranteed at
all as this bill stands. A guaranty bill to
be serviceable and fair must afford ample
safety to depositors and ample protection
to the banks We must not look at the
bill bankers. but as senators and bust
ness men doing the work of the people,.
Senator Reed wanted the deposit limited
In 1rODOSRd a
LOCO limit
Senator Quincy said the amount doesn't
there should be no discrimination be-
tween small or large deposits.
Cambern were lost and the question re-
Cured to the amendment of Senator
Price.
Il will admit" said Senator Cambern,
that I am supporting this bill partly be-
cause of selfish motives. as a banker.
going to get out from under it and I be-
lieve something is going to happen if we
do not pass a law here satisfactory to the
people. believe the bankers of Kansas
have been stampeded by the bankers of
Kansas City, Mo-, who have held up the
specter of flood of deposits coming over
from Missouri
When put to a vote Senator Prices |
was adopted by 20 to II, thus !
portion of the interest bearing |
deposits.
savings deposits up to 5000 included in |
he bill.
Senator stavely had few words to say
1t this point. He favored the Hamilton |
amendment and among other things said |
II became disgusted with the turn taken |
ernoon. The bill as it has been amended /
S a fallacy from beginning to end. What |
he people want is a guaranty for all de-
will be satisfactory to the people and that |
$ law that will make AXE secure tiG every. every dol.
subject to check. But with the amend |
nents of the senators from Clark and |
Shawnee, the bill will not be quite SO bad
is it would be otherwise.
The Hamilton amendment was voted |
# # deposits at smaller amount. % INC --i-'i'
Section l was amended to Provide that
surplus fund equal to 10 per
,ent of it's capital instead of 20 per cent
6e orgnfaly d the aw may participate in
Several other amendments. of minor i'm
'ortance. which did not change the bill |
n any essential particular, were also
ldopted.
The bill was finally recommended for
passage as amended.
Senator Hamilton desired it to be re-
ported subject to amendment and debate,
'qt ut. his motion was defeated,
moved that the senate do not concur in
senator Prices amendment to the guaran-
deposits up to $4,000. . ''''- = - ''''
Roll call was demanded and Senator
Slenn's motion was lost by q to IS, and the
eport fo the committee on the bill was
dopted and the Price amendment was re-
aimed.
The senators who went on record as
opposed to guaranty of any time deposits
by voting for the Glenn motion,
we're Bender, Brewster. Carey. Chapman,
,aIdwell, Fowler, Glenn, Hodges, Hostrup,
Iunter. Lower, Milligan, Porter, Quincy, |
Reed, Robertson, Stewart and Stillings.
The senate adjourned at $50 p. m. until
friday at 10 a. m.
The joint committees of the house and
enate on Judiciary have expressed a
reference for three amendments to the
tate constitution. Only three amendments
an legally be substituted at one time and
he committee by majority vote agreed to |
ecommend the proposition of Represen,
at of 4