Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1915-04-22
NEW LAWS TO AID LAND OWNERS
ALONG MlNNEsoTA.ioWA
BORDER.
BONDS TO BE MADE GOOD
ON INTERSTATE CONTRACTS
State Senator Lars Doe Sends Resis.
nation to Governor Preparatory to
Leaving State-Governor Clarke May
Veto Thompson Bill Permitting Loan
Sharks to Charge High Interest.


Des Moines, April %. - Representa-
tive L. l.. Bingham, Of Emmett county,
who was deeply Interested in the
drainage bills, stated just before he
departed for home tina; there is no
doubt that satisfactory laws will be
perfected in, Iowa and Minnesota SO
thao interstate drainage work can be
done the next year.
There are three drainage projects
ready for consideration in Dickinson
county, two or three in Emmett and
others along the border. They have
not been attempted because they all
involve running drains back and forth
across the state line and under previ-
Gus laws there was no method Of issue
Of bonds that would be good against
drainage districts in two states.
The Iowa legislature passed bill
giving authority for forma ton of in
terstate drainage districts, with dis
tribution of the costs evenly over the
district regardless of whether the eX-
pense was in one state or another: and
Mr. Bingham had word that the Min
nesota corresponding bill was well on
its way to q completion. The matter
was arranged by a commission Of leg
islators of the two states.
Mr.. Bingham was disappointed over
failure of the legislature to pass the
bill providing that drainage bonds
might be issued by u county instead OF
by district. That would have meant
{ lower rate of interest.
Senator Lars NJ. Doe, of Winnebago
county, has sent his resignation to the
governor II would not have been nee
esary for him to resign now; but he
felt that in leaving the state he should
tender his resignation at once. He has
gone to Minneapolis. He was one of
the most active Of the senators and Of
great usefulness.
1t has been remarked that the re-
cent session Of the Iowa legislature
was remarkable .or the fact that not
one member was lost during the ses-
sion. There was not a death in the
membership and no serious Illness of
any member at any time There were
a healthy and husky lot Of law makers.
It may not he that the Thompson
bill to authorize loan sharks to legally
charge more interest than banks are
permitted to charge will become law.
The governor has not yet signed the
bill, and representations have been
made to him. so it is stated. that the
bill is one to be looked :.te.
The bill provides, IN substance, that
a loan agency shall not charge more
than 2 per cent a month on loans.
There was also added provision
about a certain commission that may
be charged in addition and a fee for
examination Of the property which is
security.
But the question was raised on the
floor OF the legislature that possibly
the 3 per-cent-a-months scheme might
have the effect of multiplying the law
fixing per cent as legal rate Of in
terest. So an amendment was tackled
on to provide that the act should not
interfere with the law as to legal rate
Of interest. But how it can be made
to prevent the ordinary banker, or
plethoric farmer, making a loan for
any more than per cent and at the
same time permit the professional loan
office TO charge 2 per cent a month
is not quite clear to the governor. At
any rate. he is thinking about it, be-
fore appending his signature.
Speaker Atkinson gave a quiet little
dinner party at the Slavery last evening
to few Of the newspaper boys and
friends, who have been good to him
during the session. No politics; just
an expression Of good will toward those
who have dealt fairly with the speaker
and the legislature. Turnout the en-
tire session Big Bill" Atkinson has
maintained his perennial good nature
and cheerfulness and the newspapers
boys, as well as all others who came in
contact with him, appreciated his good
qualities. AS manager CT an unframed
aggregation of political colts he proved
a decided success.
! Another little dinner party last even
ing was given by W. E. OBIeness, who
has for years been at the head Of the
mechanical department of the state
printing office, and to whose manage