The Durham recorder. [volume] (Durham, N.C.) 1879-19??, 1911-01-24
Proposed Bill Fixes $4,000 as
Minimum Capital
LIMITS sAM0UNT BORROWED
Proposition TO Create Hoke County
Will BE Heard at Joint Meeting
Tomorrow--Ayery County Advo-
Gates Scheduled for Thursday and
Piedmont Hearing January 81.

Raleigh, Jan. Estate Bank Ex-
aminer J. X. Doughton, cooperating
with and having the approval of the
corporation commission, has pre-
pared bill revising and consolidat-
ing the banking laws Of North Caro-
lima and 1t will be introduced in the
general assembly this week. The
bill fixes $4,000 as the minimum
capital with which bank shall be-
gin business; limits the loans of the
smaller as well as the larger banks
in proportion TO their capital and
surplus; prohibits the paying out Of
all the earnings In dividends and re-
quires the accumulation Of a sur
plus; limits the amount of money a
bank shall borrow and prevents the
'habitual borrowing OF money 70 re-
loan; requires the directors TO direct
the affairs of the bank in reality and
make thorough examinations at least
every six months; prohibits banks
from lending money to officers OF the
bank without the consent of the di-
rectors; provides for the liquidation
OF insolyent banks under direction
OF the corporation commission and
thus avoid the big expense Of bank
reeeiyerships.
State Bank Examiner Doughton
has been working on this bill for six
months and he says that II is a pro-
gressiye measure without being radi-
cal. with special view to throwing
around t.e banks more careful
supervision and to safeguard the in
terests OF depositors and the busi-
ness public more than the interests
of the banks. However, the bill has
the approval Of the leading bankers
or the state and Is not expected 20
receive any formidable opposition.
New Counties.
The coming week will be franght
with interest in the matter OF the
establishment or new counties. The
hearing OF the proposition 10 create
Hoke county ont OF portions Of Cum
berland and Robson with Raeford
as the county seat comes up Tuesday
before the joint meeting Of the SEN
ate and house committees on coun-
ties, cities and towns and II is ex-
pected that the contest will wax
warm. II is reported that great
crowds for and against the new coun-
~ vii be here 20 present their argu-
ncris. The movement to create
Avery t0aaiy out Of portions OF
Mitchell and Caldwell will be re-
ported by special committe Thurs
day, when the Joint committees Of
the senate and house are expected 70
decide on their report. This matter
was threshcd out before the joint
committees last Thursday. Pied
mont county advocates and those OPP
posed to the measure are bestirring
themselves and lively time Is look
ed for when the hearing comes up
before the joint committees January
slst. The proposed county Is TO be
carved out 81 Guilford, Randolph
and Davidson and citizens of these
counties are following up their reso-
luting for and against the new coun.
ty BY gcttIng down to effective work,
and are taking advantage OF every
move that might further their cause
Very little Las been heard OF the
creation OF Ransom county out 81
portions of Wake. Franklin and
Johnston aud this may not b,
brought into the legislative limelighl
until after the other three new coun.
~ propositions are out Of the way.