The Barre daily times. (Barre, Vt.) 1897-1959, 1915-03-20
Frank C. Williams Tells the
Members Of Banking
Conditions in State
BILLS CONTINUED TO
TUESDAY AFTERNOON
Effort to Reconsider Ad-
journment Resolution
Failed

Mr.. Proctor OF Proctor, chairman OF
the House committee on final adjourn
ment. said this morning. in opposing a
motion made by MIR. Stickney of Straf-
ford for reconsideration of the joint resG-
luton passed yesterday relating to final
Adjournment. that the committee win
hold a meeting next Tuesday morning,
at which definite date for adjournment
will probably be decided upon, and ne
urged that no reconsideration be made
until that time. The motion to TO recon
slider was ordered to lie
The House resolved into committee
Of the whole this morning to hear Bank
Commissio er Frank c. Williams of New
port discuss the bank bills, II. 277 and
2s2. Mr. Williams explained extensive
tly the banking system and the purport
Of the bills. When the committee arose,
the House, on motion OF Mr.. Wilson Of
Chelsea. ordered the bills to lie and be
made special orders Tor Monday after
noon.
The Senate held long session and de-
voted most Of the time to discussion OF
the corporation bills, which were ordered
to third readings.
The House suspended the rules and
took up the educational bills, substitutes
for n. 40, and ordered the bills to lie
and be made special orders for Tuesday
morning and afternoon.
An effort to reconsider the vote on =.
| lO7, relating to log business was made
by Mr.. Dickey of Barre Town, but failed
la,Ier some discussion, by vote OF 90
to "a.
II. 4O4, relating to appropriations to
STATE and agricultural fairs was made
special order for Monday at 3:0j o'clock,
the senate having proposed many amend
ments which change materially the pur-
port OF the bill by creating a state taT
commission.
The Banking Debate.
Mr.. Wilson Of Chelsea moved that the
House resolve itself into a committee OF
the whole for the purpose OF considering
n 277 and II. 2S2. and that the bank
commissioner. +. c. Williams OF New
mort be invited to address the House on
The bills in question. Mr.. Morse Of
Hardwick took the chair as presiding
officer.
Mr. Williams discussed many features
Of the banking laws, and stated that
SO 600 900 on deposit IN the state banks
were owned by lss.020 citizens Of Yer
mont. or more than one-half the entire
populntion. Sixty-siX millions Of depos
/ h. were held by 10000 people-there
are sl3.OO0000 Of foreign deposits, and
an average deposit OF s42l. Mr.. VIII
liams said that he had frequently been
criticized bv commissioners from other
states because they claimed that this
state did not have enough liquid assets;
hut no called attention 10 the fact that
an hanks in and about New England,
excepting Vermont and New York, had
in tbe stress 81 financial times last tall,
lost practically an their liquid assets.
He said that the appraisal OF hank
stocks in different towns bad been very
erratic and varied be- told OF how many
hanks had endeayored two years ago 10
etade taxation and Of the methods tol-
lowed; the advantages and disadvantages
81 each proposition were stated, nut ne
thought tn banks generally valued their
stocks az approximately correct figures.
lie stated that about six banks in the
state would feel that they were sufferers
il they had 20 pay tax at par, they BE-
ing Young banks.
III n. 275 Was 10 become a law, he
said. tho advisability Of two amend.
ments should b. considered; one proposal
that in addition 20 local taxation. the
hanks should b. taxcd 20 the state a.
seven -tenths Of J per cent annually
Mr.. Wilson iutcuovated the commits.
si0ner a. Is the, difference In The appli-
cation Of the two bills Mr.. Williams
thought tie new Law would raise the
Grand LET about sa0a. and would be
e,sduaUy increased. On motion q Mr.
WBson al Chelsea. the committee roscs
reporting rs progress. Mr. Wilson's mo-
-, that n R71 - ordered % DE- and
made speeial order for Monday alter
1oon ~ 3 81. ard that n. 2s2 b. made
: sperial order for Tuesday afternoon q
3 90 was passed
signed by the Governor
Anaet - ar1rnd scctiuns $3.50 and 1850
Il ths ruhle statutes. relating 10 NUM-
fsfal .ndsltedness.
AZ "a relating 70 the collection #
tnnes
Az aa relating 70 WIliamstouu fre
district No.
AZ 80 a. amend subdivision 3 ~ sec-
tiar SD of No. e0l II the sets ~ 1912
r,latiur 81 fsh snd game aus
A. 80 q creats . basrd oi pebble
frriinE
AZ a. IS afntuf s0s tun sffs 70 the
rmtIr statutes. relating e. condemns
f5ar II s.t1I hrlfurs
An s.f - suahit tts village 81 Luflau
& rar.Inse aud 81 rle1rf crrrrt fur
Hrft nrG raaeT rtTFia-Hs
AZ att fa ar.and Mol fs3 - ~ asas
- Tns reiafana e. cirriaag assastanrs f1r
80 r7ras e s.-rttarF - ststf ari state
frrewr
Eaf rsaf rrfasF ft.sHE rsEsrnes
ff.t HrfffnEtfr TERED
~ ts rs-tarf the s.3as1
F ts
~ - e natf urferm fts itu q
fars r lrfrf
A. 81 EuterruE ttf e1rnr 'sslrnsr
H +sr9s 81 ffFrt srs3 asftas
E m=e W rf- ataet irrtas
r uFnnfH rm -
rasfsr
rara sa f raaa-
Il - --rH e uasr hsF taE
= f.ts-r eau srr sa rf-r1a-ttsa
frarffumez sr fuwsk FnEs