The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1909-01-09
PROVISION TO MAINTAIN
the GUARANTY FUND
Banks May Receive Deposits
Not 10 Exceed Eight Times
Amount Of PAID Up CapliaI

Further attcnilo., wi be given 10
banking matters by the legislature thly
session. Roddie. senate author OF he
famous aoddie.Wlllams banking meas
ure Of last year which provided FOR tbs
guaranty Of hank deposits. tho prlu
slple OF which became d innding Issue
In The late presidential calhpaiga, has
alreaiy introduced lnoilor measure
smcn1alory of the present banking
laws.
sliding Scale ~ Capital.
A proposed new feature Of the law Is
TO be a sliding scale Of capital tor state
banks based on the number OF phnbli
inls of the towns wherein the ANnki
are located There a also 70 De 4 neW
system Of ieyylns the assesnients foi
maintaining the guaranty fund
Briefly, the sliding scale propose
that IN towns Of 1900 Or lcas lha capl
tal Of state hanks shall be not less
than $4,000. in iowps 81 l.bii5 70 . isst
nnl less Than s25,to0. ln WINS or 6.00f
ITO 10000 uol less than $4,000 and Il
alties Of more then 10000 not lcas thar
si00,00p
10 MnlNVain Guaranty Funr.
An asscsslneni Of five per cent nf
the average daily deposits IL to ht
leyled IN order To maintain the guar
anly lund OF this ane,ffth Is to b.
paid during the first year and enc
twnntleln each year after until the Ell
tlre amount is paid Thereafter nf
moro assessments afe 10 believed ce
cent IA casn Of iailnrea These afp {
he known aa emergency ssseuHmenl.
Wld are never to exceed two per cent
NJ ease ihe fUud Should ftll % pay thf
losses lu any laua certificates O. iii
deblcdness bearing slx per cent are &
be ISSUED 10 the dep aliors, and are e
De paid off ds lasl as additional ae
sessmouis viii permit
Dgnosllorloa E9e 9uhlC funds.
Any bank which complies with tic
I conditions ~ The act wlll be permitted
to aci as 3 depository for any 0f tst
yarl us state aud loeal public iuuds
without being required to advance ad
lillouul security ANY bank Sudos tht
law may receive deposits moi 10 ex
aeod eight times the amount Of lis palsl
up capital aud pay interest "a rates e
be designated hy ihe State bank com
missioner,
Senate paasee Resolutions
The lapp.klne resolution. mefasrial
izing Congress In behalf of Big Pas
turo' settlers was the first 70 pass
both h0uses reaching The senate yes
lorday afternoon Another house feso
luton passed. by the senate was thai
10 appoint D C mmltlee on arrangements
for ihe election Of United States sen
aior and IIroWnlee strain and rnomai
wefe nnmed AZ the senate c0mmltthe
Legislative Expenses
A bin BY Senator Williams. nnprunFi
lallng sic9,Q00 FOR legislative eApenaf
was discussed in committee ~ las
whole and passed i4 bird reading
Senator Strain was IN lhe chaF irrlna
this. the first session Of the emmliiel
Of the whole. The bin bears ~ omefe
ency clause, added by gayls.
eseonc AnttGamkllns ~.
A strong antlgemhlilE BIN was In
lr0duced by Smith. and President ORA
ham loklngly moved that The name o.
R0ddlo be substituted nor llai
Smith, tuddie'a bin aippE Obs line
last year caused aolne strenuous Do
biting and much apprehension anlons
the knights Of the roi1I tabla."
INo Mining 8ills ~ aorfsils
Tw0 neg mlnlne idlls were inir0lRe
ia ~ sdtiella. anttkr Of wrrtnf iha
mlnina legislation nf the previous f1a
sion OF lheAe one has 10 do With
grades 81 certificates and washtgqfnf
At ihdl1inls
ITo Protect ephlla Fundr
FfHnklih allt up nlili for DO ple
secilsio OF pOhIIq funds. fhich pJvldeE
THAT no official shall deposit puDlle
money N his oe.n halk Tlie nAl also
1 requires VII interest," 70 .ie laii iliiu the
/ pebhc eaaurg and atcllxhes inJ II 1
sule oi limitations Al ID Ynnlt.fa
other sll:s Introduces.
Other bills we're ii Blair, eslahiialt
ING state lHfualFlai school, hnn h5
/ q fdcll, amending the present ftaiutf
10 that a husband can not viii more
/ than two.thIads Of his property awas
lfom hls wife. u9f lhe wIln from ael
IbHlhand
| Miscellaneous MasIeFa.
/ Senator HlaIF announced al Unet
meeting & lhe Hammtlae Ia revenue
ana taxation nek Wednesday nigh