The Alaska daily empire., 1917-04-04
BANKING LAWS
 ARE DISCUSSED
 FOR TWO HOURS
House Objections Raised and Long Arguments Prevail; New Bill
 for Schools.


 The members of the House this morning spent two hours in a com mittee of the whole considering 1 House Bill No. 15, which is for the purpose of changing and amending ! the Territorial Banking Law This 1 bill has been recommended by the committee to not pass, but as ob- jections were raised to it's indefinite postponment, it was placed on the regular calendar for consideration this morning.
 | Representative Mccormack. Ner- land and Coombs led the fight for the bill while they were opposed by I Burns, Murray and Speaker Hess. Two amendments to the proposed bill were adopted after considerable discussion which allow banks with a capitalization of $15,000 in towns or communities having less than 1000 inhabitants within radius of five miles, and also increasing the amount of deposits they are allowed to re- ceive from $1O0,000, as at present, to $150,O00, before increasing their capital stock.
 The two amendments were put in the bill to favor the smaller towns, many of which need banking facilities which they can not secure under 1 the present law The limit of depos- it's was raised as it was represented %lot ,.-1, nf Nn1x mn are allowed a bank having capital of $15,000 is unable to make any money on the investment.
 New School Bill
 A school bill prepared by the joint educational committee was presented this morning in the House for the special relief of Anchorage Nenana and other railroad towns The prin- cipal provisions of the bill are that any district having population of 800 or more within radius of 40 square miles, and having 50 children between the ages of 6 and 20 years may incorporate a school district and may levy school taxes on the real and personal property within the district.
 When desiring to establish dis trict petition signed by 50 citizens resident of the District must be pre- scented to the District Court and an election will be then ordered at which five members of the school board shall be elected, one being a clerk, one treasurer and one as assessor.
 The board shall have power to levy a school tax of 1 per cent. on the cash value of all real and per sonal property in the District and after the levy shall sit as a board of equalization for certain number of days. The board may then col lect the taxes and provision are made for the addition of penalty and in- terest in case of non-payment and of due process of the courts to collect the tax. The members of the school board shall divide themselves into first and second class by drawing lots, the first class to serve one year, the balance for two years, The fol- lowing elections will be for two mem- bers and three members on alter nate years.
 The House was called to order. roll was called, prayer was offered by Chaplain Condit and the journal was read and approved. A message from the Senate requesting the use of the House chamber on Saturday night for committee meeting was granted. A letter from the Cover nor transmitting copy of telegram from the Secretary of War refusing the request of the, joint educational committee for franking privilege on the cable was received.
 The Judiciary committee reported House Bill No. IF. providing for a small debt procedure with recom- mendation that it do not pass. There was objection to indefinite postpon- ment and it was placed on the calen- dar for second reading.
 Committee on Municipal Affairs re- ported Senate Bill No. 2S with a recommendation that it do not pass Placed on regular file for second reading. House Bill B. relating to schools was then introduced by Rep resentative Snow.
 House Bill No. 15, relating to capi- tal stock and establishment of banks. which was reported unfavorably yes terSlay by the Banking committee, was up for second reading and the House resolved itself into a commit toe of the whole to consider it. The committee of the whole reported to the House after two hours of talk ing. recommending that the bill be amended and that it pass as amend cd.
 The House then adjourned until 1:ao o'clock this afternoon.
 ston reconvening this afternoon the r1oess cousidered Senate Concurrent 1lSrn1okipn providing for clerical AiFe
 - ( 1611p1 Committee fos fke