Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1917-01-21
House Acts Favorably on
Measure Permitting Pur-
chase of New Security
With School Funds.
IRRIGATION BONDS, ALSO
These Included When West
ern Members Urge the
Point.
LITTLE OPPOSITION COMES


Lincoln. Jan. 20 Especial. y
Change of sentiment was shown to-
day when the Oils bill, house roll No.
5O to legalize the investment OF
school land funds in bonds Of the fed
cral land bank was considered in the
house.
When the bill was up before there
was so much antagonism that its au-
thor had it put over. But today senti-
ment in its favor was stronger than
the sentiment against it before, due
. materially to the speech made by ier-
bert Quick, member of the Federal
Land. Bank board, yesterday.
A great deal OF favor was brought
to the measure by the adoption of an
amendment to include irrigation
bonds as channel for state invest
ment. This addition was made on
motion of Beal of Keith and brought
to its support all the members from
northern and western territory, where
irrigation is one of the factors in agrl-
cultural development.
Open to All Loan Bonds.
Hoffmeister wanted to restrict the
purchase of land bank bonds to those
of the bank to be established at
Omaha, but later withdrew his amend
ment. Moseley of Lancaster moved
to postpone indefinitely the bill, but
he appeared to be the only one OF
the delegation not friendly. Members
from the eastern part of the state,
notably the Douglas county men, with
Reishick, Swanson and Hughes as
sisting them, lined up for the bill.
Mr.. Reifenrath thought that such a
bill is premature, as the land banks
are a new and untried venture. Mr.
McAllister saw objections of a con-
stitutional- nature, but Mr.. Murtey
was opposed to the states buying irri-
CATION bonds, E<a5
The other view was taken by Mr.
TAYLOR, who said it would show
mighty poor appreciation by the great
agricultural state of Nebraska if the
=, legislature should refuse to sanction
the investment of state funds in the
bonds OF the federal land banks, con.
sidering that sixty-six out of every l0t
farmers in this state are tenants and
that the rural credits act was passed
by congress to enable that class tc
become land owners.
=. Oils as Prophet.
Mr.. Oils ended the discussion, pre-
dieting that in ten years the operation
Il L. l., I,
the percentage of farmers in this STATE
owning their law. Even though th'
state may never buy any OF the bonds
. he said, it would, by recognizing then
as a desirable investment, encourag,
private investors to buy.
Bankers know that these bonds ar,
gilt edge, and you'll find them putting
their money into them," declared
Oils, who intimated that Moseley
might be opposed to the states buy
ing them because he is in the farm
loan business himself
Messrs. Greenwalt, Stearns ant
Beal all spoke particularly for th'
amendment relating to irrigation
bonds. Greenwalt stated that no pur
chaser of such bonds in Nebraska hat
ever lost dollar.
After approving this bill the com
lnittec OF the whole also sent to thirt
reading the companion measure
House Roll No. 81, authorizing trus
companies to buy the bonds.
Favors County Road Bonds.
The Naylor bill providing tina
counties may vote bonds for gradin,
and otherwise improving roads, ant
for the building OF permanent bridge
and culverts was debated at consider
able length and finally ordered en-
crossed for third reading, as AMENDED
by the standing committee. Al
amendment by Mr.. Murtey requiring
the county to do its own work wa
defeated
Another bill advanced to third read
ing was the Flansburg measure cut
ting down the time from six to thre
: months for filing appeals in the su
premc court.
The house adjourned this Afternoon
until 10 o'clock Monday.