Deming graphic. (Deming, N.M.) 1903-1948, 1918-12-27
WHAT BECOMES Of
|. DEAD DMEN'SMONEY
Bernard s. Rodey Declares knofnlaii-
Sums Belonging TO Schools
Held by Banks
CHARLES BANKS DNN0RE Law
Total Amount u Money lnaerounied
For and Unclaimed Nay be
Mufh as sS0Ho0o

S0me wears ago, ln lSs9s 20 ~ exact
Bernard $. Rodey secured the pas
sage Of u law u New Mexico providing
that unclaimed money ~ banks should
belong TO the common schools of the
then territory; that all hanks having
such money should on the first 0f
january each year and for yiS days
thereafter. publish list Of the names
Of the deposiiors and the amount he
longing 10 each Of such money NOT
called for within three years next pre-
vious. So that The heirs might come Ia
and get 1t. II madr It critic not 'a
publish this notice II provided That
the governor the attorney general und
the district attorneys, should lmmc
diaicly cause suits 10 he brought 60
cause such money 10 echrni 70 The
schools of the teriitory
Said Mr. Rodey recently, concerning
this law;
"No banker, during an these years.
ever paid any Alteration to that law or
made any report or published any no.
lice under g. IN 1915. when the bank
crs got through their great mnsing
law IN our state legislninre they tried
To repeal that lnw in toto.
II appeared before COY. Mcdonald.
against tie repeal. Then nc forced
change In the hlll. which repealed Tie
criminal part Of the law. hut lcft the
civil liability for the money See
section 81. ch. 81. session laws. y. VI.
1872 haze d0ne everything cail
since that wear Of 1915, 10 force suit
to be- brought against the banks of tile
state, particularly the older ones. 10
force them to disclose the amount Of
this sort Of money they have on hand,
which Is now said 10 be very large.
s9mc say as high as $3OO,OO0 Moth
Ing that have heen able TO 10. aud
have agitated Il continuously. conla
induce the different governors. At
torney generals or district ATTORNEYS
to attend to this matter ! also made
strong effort with the different state
superintendents Of education. yet
nothing has been done
Every state in the union hns a law
turning such moneys into the com
mon school funds Of the state. The
state of Pennsylvania is now fighting
over fund Of fifty million dollars
Of that kind and the bankers IN tha,
state, the same as they are doing Ia
New Mexico. are fighting every effort
To turn that money, which does not be-
long to them, and never did belong t.
them. and never did belong "a them.
and Of which they have had the use
for quarter of century Ato the
common school funds Of The state
Deming Banks Not Affected
The preceding interview was sub.
miited TO Arthur Ralthel. vice presl
dent Of the Bank of Deming, and Ed
ward l., FoulkS, cashier Of the Demlng
National who stated that the subject
Is one that does not directly affect
l.nna county. us neither Of their hanks
has any money belonging to estates
Of dead depositors. Mr.. Foulks said
THE law requiring transfer Of ncH
funds Of common schools is. IN my opIn-
ion. very good one hut I think that
? Mr.. Rolev'S estimate Of the amount Of
such funds possibly held ny hanks of
the state is away beyond the hounds
Of reason. As far aS the Denn.,
banks are concerned we have no snch
I funds. our accounts are practically
entirely active, the total Of Inactive
!. deposits being less than S2O0.