Norwich bulletin. [volume] (Norwich, Conn.) 1895-2011, 1915-05-15
tconsinusdsfr0r,r page4one)

Protect Depositors.
Mr.. Brooks of Torrington, said the
bill would protect the depositors, as It
would hold trustees responsible who
gave OF their time 10 safeguard the
depositors and If made responsible
there would he difficulty In getting
representative citizens to serve els
trustees. This act was drawn by a
Hartford banker and. approved by
leading lawyer oflthe :cfty and by the
attorney general.
Messrs Forbes of Manchester and
the bill which made the law clearer
than heretofore Mr. Spencer of
Suffield said great care was exercised
in the selection OF bank officers and
special care given to audit. and aft
er doing all that is possible for pro-
lection, the trustees ought not to be
held responsible.
Mr.. Martin said that this act IL it
becomes law. protects the directors
and trustees rather than; The deposit
Ir. Ford Of Stamford. asked
what more can beSdone for protection
of depositrs than cmpetent auditing.
adm that it was wrong to hold trustees
responsible after It wa ssshown that
they were not fr any way negligent in
their duty.
Mr. Dillon asked what more could
be done than to secure the very best
audit? The trustees who do this have
performed their duty.
Directors Responsible.
Mr. House declared that if anyone
was responsible for the savings in a
bank it was the directors. He said he
was director in small bank and
believed he was responsible in part
for the deposits. In there any cor
poration in existence without respon-
sibility. It ought to have careful
consideration and be tabled for two
years. If responsibility is placed on
the director, the director will see to
1t that the bank does not go wrong.
Mr.. Martin moved that the matter
be indefinitely postponed
Mr.. Hyde said that under the law
the directors are not relieved from re-
sponsihility Of any act of which they
have personal knowledge, hut are not
relieved unless competent auditors are
employed and that the directors must
see to it that careful audit is made.
Mr.. Ryan, of Ridgefel6. spoke in
favor of the bill and said trustees
should not be held responsible for
matters over which they have no con-
troll.
Cousin Did Not Know.
Mr.. Stoddard said that while the
trustees select the auditors, under
this act the trustees are not RESPONSE
Bile for the work of the auditors. He
said the only members of the house
who favor the bill are bank trustees
and members of the committee. Mr..
1sbe1 refuted the statement, as he
favored the bill. Mr.. Stoddard asked
how about a cousin who was a bank
trustee.
The Bill is Passed.
Vote was then taken on the motion
to indefinitely postpone and the motion
wa slost by a vote of Sc to 63
Mfr nLY11G Ct,
he had introduced a bill to guarantee
the safety of deposits in savings
banks. which was rejected, but the de-
bate of the afternoon had convinced
him, and perhaps others that his bill
ought to have been accepted
The original bill was then put upon
its passage and carried by a vote of
20 to 81.
TIE total vote was 129, just a
quorum.
Issuance of State Bonds.
The act was passed authorizing the
treasurer to issue bonds to the
amount of $15.000,000. The same act
directs the treasurer to purchase old
bonds to the amount of 100000 a
year.
Mr.. Stoddard Apologies.
Mr. Sstoddard, of Woodbridge, arose
to question of personal privilege He
said the gentleman from Ansonia, Mr.
Ishell, had Informed him that an apol-
oSy was due. Mr.. Stoddard said that
if in his remarks he intimated that
Mr.. IsbeIl had voted for the bank bill
from improper motives, he offered
apology. Mr.. IsgeI said the apology
was accepted in the spirit it was Civ
en-
Institute For the Blind.
The house concurred with the SEN
ate in the passage of the bill con-
corning the Connecticut Institute for
the Blind, located in Hartford, which
carried with it an appropriation of
$4,000.
Few Did the Business.
A large volume of business, of more
Or less Importance was transacted
during the last hour of Friday after
noon session, there being only Ga
members present, or 60 less than a
quorum. Among the faithful were
'Repr esentatives Bailey and Henderson
of Norwich On nation of Mr. Hyde
the house adjourned to 1916 Monday
morning. He requested the members
to come to the capitol prepared to re-
main in session until all the business
was finished That probably means a
night session.
Deputy Judge Appointed.