The Elbert County tribune. [volume] (Elbert, Elbert County, Colo.) 18??-1920, 1911-04-14
COLORADO
LEGISLATIVE
Cove Bank Guaranty Bin.

maze lnsclVent through loans TO their
officers. directors and stockholders.
Senator Frank f. Cove who prepared
the banking code" portion of the
Crowley bank guaranty bill. explained
that. IL depositors are to be fully pro-
tected, hard and fast rule on the
subject of loans by state banks would
have to be enacted and the Senate
voted to retain the following provi-
sions of the Crowley hank guaranty
bill.
mo bank shall loan to any officer
or employe thereof No officer or en-
ploye of any bank shall become en-
aorser for any person. firm or cor
poration borrowing money therefrom
without the approval of the board OF
directors entered on record In the
minutes of the board"
The same provisions apply to unin-
corporated banks and the following
amendment was adopted: mo bank
shall become the creditor OF its stock
holders in an amount exceeding 40
per cent of its capital"
For three days and two nights the
Senate, In committee OF the whole,
has subjected the Cove portion OF the
bank guaranty bill to critical analy-
sis and of the sixty-three sections of
the bill thus far considered, but few
-, $50 "a 49, =, a..
biI1 with tho Aid Of thirty state hank
ers and as tho measure now stands
tho guaranty offerad IN denositors CON
sists In tho enlargement Of rigid hank
ing regulations az to loans. invest
ments RESERVES and examinations.
The hill applies only to state banks
hereafter organized
o"' '''''s We" S'u'
mere Is one p,h IN 'ne Sens.e osel
have yi,an themselvos h,t IIt,Io con-
corn rho hin hecomes ouite ;mnort-
nnt as adioprnment annroacbes no
cause tbere arc tho Democratic Mat
form nIedpes the tunnel and the an
nronriatIon h,,Ia which viii crowd
every minute of the remaining norton
NJ tho session and force n,pbt sessions
besides Tho cova biu re-estabIisb-
inc the court of anneaIs has been lost
sight Of but its author win call II out
into tho SUNLIGHT ope dav not later
tban newt week. and Senator Cove
will try tn mako II n special order on
the calendar.
-,
WIN AoJou'" Np''' N<"''
me Eighteenth General Assembly
VIII ADJOURN without day on April zzd-
me House VIII concur WIN the
Senate In adopting resolution liking
this as the DAY Tor Closing the regular
SESSION, Leauers na'e oeoiueu INA.
inns WIN DC sui,iciene " pan sa,i ,ne
iaws ena' con De passeu ~ .ni,
senoy IN ,ea. sss,o az W."
" Diean INC i"'
Bills Made Special Orders.
The other bills made a special order
which were not reached:
s. b. No. AGA, Cornforth, an act to
encourage the breeding of horses and
creating state racing commission.
S. b. No. 465, Cornforth, an act to
regulate the holding of racing meets.
S. B. No. 1913, Hits, an act making
new regulations to govern warehouses
and the issuing of warehouse receipts.
II. b. No. III, Teller. an act making
a new classification OF counties and
regulating the salaries of county Of
ficers.
H.rB. No. 256, Slattery. an act to
amend the revenue law OF the state to
require the payment OF fee when
stf license Is transferred.
l.. b. no. of4' Mauaeh' an ae' u
MAKE possipie tne creueior oi roau ini-
pro'eineht uis'iio's III iuiai eoi""i'"'-
'i
H. %. NO l., ohinhel' Tue ,aiiroao
coIlhlss,oh pii .ioim pieuseJ
n D. NJ, alo, .ai.e, -, an aee MAJ az,