Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1911-01-20
RADICAL changes
IN BANKING BILL
SENATE ADVANCES RODDIE BILL
TO THIRD READING.
RELIEF FOR State BANKS
Object of Measure TO Make GuMaDy
Law Less of Bur-
den.
Special to the World

Special to the World
Oklahoma city okla, Jan. 10
The senate Thursday perfected and
advanced to the third reading the
Roddie banking bin effecting radical
changes In the present bank guaranty
law designed to make It less burden
some ON the state bankers
Under tho Roddle bill, the assess
mcnts on state bank deposits are TO
remain In the banks subject to call.
while the state banking department
receives per cent interest thereon.
The bank commissioner Is TO receive
1900 year instead OF $2,500, and
members Of the banking board 50 per
day for the time actually employed
and examiners $500 instead OF ST.
500
Under the Roddle bill, the person
mel OF the state banking board IA
charged from state officials. as now.
| to the governor and two members APP
pointed by MIN. In case of the fall
ure OF a bank when there Is not sur
ficlent money in the bank fund, the
banking board is authorized to Issue
emergency certificates TO depositors.
drawing G per cent and payable like
state warrants, when the funds are
collected
A bitter fight resulted in striking
section four from the bill on the mo-
tlon of Senator Garrat OF Muskogee
County The section required state
banks to deposit their reserve In guar
anteed banks and approved reserve
centers without limit, but placed "a
maximum Of 10 per cent Of the de-
posts to be placed In national banks
and not approved reserve Institutions.
Roddie made and extended speech
I'm defense OF this section. He de-
clared his blu was designed TO protect
tho state banks as congress protected
the national banks.
lie declared that had such a provis-
ion as section 4 been In the Oklahoma
law, the failure of Kiefer State Bank
would never have occurred,
lie said the Farmers National Bank
OF Tulsa controlled the Keifer bank
and In time OF stress drew $4,000 rom
the smaller institution. Both banks
nailed and the state guaranty fund
had to pay the bill.
The house Thursday advanced to
the third reading bill by Represent
atlve Charles o. Lincoln and Vogel OF
Harper. authorizing county comms-
sioners through tho state to extend
the time OF payment OF first half of
1911 taxes thirty days from January
I, taxes TO become delinquent thirty
days after the county treasurer re-
ceives the completed roll Passage
OF this bill was rendered necessary
by the confusion wrought In the coun-
" treasurers' offices in many coun-
ties by the change OF officials
In the house bills were advanced
to third reading by Durant, Semple
and Baldwin approprlating $4,000
to beautlfy the grounds at the Durant
normal; by Lewis and Ashhy, per-
mltting eX-Union soldiers and ex-Con-
federate Veterans to hawk or peddle
on the streets without license
The senate recommended for pas
rage In committee OF the whole thu
b'Il by Memminger and Stewart, fix
ing II scale Of minimum capital stock
for savings banks and trust compa-
nles as amended and caused the bill to
provide that in cities Of over 10000
the minimum capital for trust COM
pany shall be 5000, 900 and for a trust
company and bank combined $780,
900.
Grant Of Muskogee County was tho
author of the amendment The house
indefinitely postponed bill by
Broome OF Lcflore amending the ex-
empilon laws.