The Detroit times., 1911-02-16
Bradley In The senate and hroughout
THE capitol, the common expression
being that he has suffered enough

the capitol, the common expression
being that he has suffered enough.
Senator White jumped into the lime
light yesterday, with four bills. one
Is fora state board of equalization on
slightly different lines from that pro
posed ny Rep. George Lord IL pro-
yldes that all members Of the tax
commission as well as the auditor
general. the secretary OF state, the
state treasurer and the commissioners
of the land Office shall constitute the
board. and that 1t shall meet every
two years instead OF every hve, as
provided in the Lord bill.
A second bill authorizes the state
tax commission 10 examine the prop
erty of mining companies. as sug'
gested by Gov. Osborn at the hearing
on the tonnage tax recently. The
fourth enables the commission To eA-
anime assessments on It's own inltla-
tive, instead OF by request, and the
fourth gives the commission more
clerical help,
Rep. Copley's bill giving the COM
missioner of banking power to force
bank stockholders 20 make good I'M
paired capital, was passed by the SEN
ate.
Senator Leidlein introduced a bill
to appropriate $1,000 for the fair at
Saginaw.
The judiciary committee reported
out Senator Vanderwerps' bill giving
boards of education and water boards
power TO condemn private property.
The bill merely clears away two small
defects, which were discovered when
the Detroit water board tried to buy
property by condemnation for an ex'
tension to Gladwin park.
Detroit bankers agreed upon two
changes by the banking laws which
have been causing much discussion
recently, and these changes, when
read In the public hearing on banking
matters before the banks and corpor-
atoms committees OF the senate and
the house Wednesday night, appar-
emily seemed agreeable, and will be
introduced I'm the Legislature within
the next few days, In the form oil two
separate bills.
The first bill legalizes branch banks.
and provides that banks wishing TO
establish additional branches must in
crease their capital $4,000 for each
new branch. All branches now estab-
lished are legalized without further
ceremony.
The second bill clears up the long
drawn-out argument relating TO the
capitalization of banks situated In ter
ritory annexed TO a city. The Dill
gives these banks the power OF exer-
cising all the rights they had while
operating in a village, under village
capitalization, and also gives them
power to enlarge their capital, even
though they do not increase II to the
$3.50 900 required In cities OF over lO0,-
900 population.
1.-The bankers OF Detroit held a
meeting yesterday" said Frank Tillot-
son, OF the Dime Savings bank. ana
agreed upon these two amendments TO
the laws as being fair TO all parties
concerned While some were inclined
to think II unwise to tamper with the
laws in regards to the branch banks.
il was agreed that the $4,000 add
tional capital required was not large
enough to cause any protest from the
bankers In smaller towns who have
branches"
1.-THE only reason We think we
should be empowered to increase our
capital any amount we wish without
coming up to the minimum amount re
auired in a city like Detroit Is TO place
banks operating in annexed territory
on a better business basis" exclaimed
w. ]. Hayes, OF the Fairview Savings
bank. Some banks, now capitalized at
$4,000. should enlarge their capital
because OF the amounts OF their de-
posts, and It does not seem reason
able to force them to increase to $780,
OO0.'
Representative Brokers depositors
guarantee fund bill, and similar
measure introduced In the senate by
Senator Bradley were read, but none
of the bankers, with the exception oil
w. j. Woilcot, of Albion, were willing
to discuss 1t. The Albion banker said
a depositors guarantee fund would
have to come sooner or later.
SANFORD.