Omaha daily bee., 1911-12-03
Nebraska
GUARANTY FUND COVERS ALL
State Banks Holding Postal Funds
Mnst Put Up for Them.
UNIVERSITY FEES MODERATE
Chaneenor Avery AuthorSies state
students IN Nebraska
nenf Of Expense Attendant Upon
University.
CFrom a STAFF Correspondent }

VrOm a Staff Correspondent.)
LINCOLN. Neb.. Dec a--(Special. lin
an opinion rendered by Attorney General
Martin today all state banks which are
repositories for postal savings funds must
pa yguaranty taxes on all such sums de-
posted with the banks. The opinion was
given In a question submitted TO state Of
ficials by the Kearney state bank The
ruling applies to all banks and win re-
quire them to pay not only the govern
ment sk per cent interest but for bonds
given to tho government as security for
tho deposit for the benefit Of the guaranty
fund.
The guaranty tax is one-fourth Of I per
cent every six months until the guaranty
fund reaches a certain amount, $50 900
which is to guarantee about $4,000 1900
which Is on hand in the various state
banks In the state without deciding
whether the postal savings funds Of the
government are public funds in the sense
used In the statute, the attorney general
holds that such funds constitute a de
posi- that should bear the guaranty tax,
the last expression Of the legislature be-
Ing that public funds shall be secured In
the Same way that other deposits are Sc
cured, that is, by the guaranty law. II
the funds are public funds, they must be
taxed for the benefit Of the guaranty fund
and IL they are private deposits they must
alos be taxed Tor the guaranty fund.
The state in such an event would not
require state banks to give bond for the
security Of such funds. II the government
requires such state banks to give bond
Tor their security. the state has nothing
TO do with the transaction
University Fees.
Despite the fact that Governor Aldrich
has made the emphatic assertion that
university fees are somewhat excessive.
figures collected on this subject show
that the University of Nebraska requires
lighter payments than most institutions
of Its kind in the country. Chancellor
Avery by whose authority the statement
was made last night asserted that he
did not wish to argue the matter with
any state official. but that the figures
would In this case speak for themselves.
Comparative figures on this phase
show that the cost of maintaining three
years courses In various state uniyersi
ties are as follows:
California, $S6; Wisconsin. s72: Kan
sas, I'D; Missouri, 800; Colorado $50: Me-
praska $l5l: Illinois, $160. Iowa, Sf7O:
Ohlo' Nso; Michigan, $191; Minnesota, $40.
The discussion. was b ought about by
the fact that two Filipino qouths COM
planned to the governor that fees were SO
high at the university that they had little
faith In the decial atoms of residents of
the state that the state university was
q free" school. The youths objected 10
the payment OF fees to the amount of ss1
per semester. which was the amount
asked from them by the law department
the highest In the university save those
where the more expensive laboratory fees
are required.
Refuses TO Register ROnds.
State Auditor Barton refused today 10
register $4,000 worth OF University Place
school bonds and the officers OF the dis
trtct have arranged to call another cleo
ton to submit the question to the voters
The bonds were voted one year ago, but
At that time the auditor refused to reg
aster the bonds because the bonds ex-
cseded the amount of bonded Indebted
ness OF the corporation which formerly
included also Bethany and HAvelock
since that time the University Place dis
trict has paid off all but 5000 OF the
debt and again offered the same bonds
TO the auditor. The state officials. how
ever. decided that II the bonds were IL
legal then they are illegal now and a
new election must be held In order to
make the Issue valid. The election win
be called at once.
TreRSurer's Report.
The report OF State Treasurer George
which includes November, shows the
following amounts are set out:
On hand October Sl............ s45s Ols %
on hand November 29.......... 4S9 aJl 10
Amount In general tund.. AsyD
Permanent school funds on hand 43O22O 90
Permanent university funds on
hsnd .....;.........,...".......... s26
AsI cultural school endowment
funds on hand.,...........-..,.. 2,ssliO
Normal school endowment funds
on hand ........................... 65r
Outstanding state warrants .. POI, ,S9L05
(This represents state warrants which
have been re5isLered and are held by per-
sons to whom they were issued or sold to
bTokerB.)
OF The total Of moneys on hand S4S7, 81
Is deposited In banks tn ouguUut the state
ana n,oSo.V5 Is casn on hand.
FuLds invested by state and drawing
interest:
fefmanent school. l.................$ s., "a 439
fei nIanent university, ........... 2i3, 70S .O4