Tombstone epitaph., 1922-03-05
SUBMIT STATE BANKING
 CODE TO BOTH HOUSES

. Stdtc DdHhinS COue, Sdlu tO nave Deeu prepared by the State Bankers asso- citation. was submitted to both houses of the legislature today It was pre-. scented to the senate by Senator Bur, ton of Yayapai The new act would
 Create department of banking and the offices of superintendent af banks aud bank examiner.
 Limit loans to individuals and 10 officers and stockholders. Fix classes of banks and rules for their guidance.
 Provide for the levying of assess ments upon stockholders.
 Define the method of liquidation and reorganization of insolvent banks.
 Define unauthorized banking.
 Define the relation between state, federal and national banks
 The proposed code provides that loans to an individual or corporation ar company may not exceed 20 per cont of the capital stock; that en of siGer. director or stockholder may n {. borrow more than an amount equal to 2n per celt of the captal stock and 'fc stock held by tb. officer. dircc- tor or oc:holder cannot be advanced as security; and that the superiaten- dent of banking shall not be asscciat- I'd with or interested in any banking institution. and he may not borrow of any bank under his Jurisdiction
 Two thousand copies Of the bill were ordered printed and the meas ure was deferred
 Senate bill No. 27. introduced by Senator Curtin of Mohave county. proposes that s+5.000 appropriated to build a bridge across the Colorado in that county be used instead to con struct road from Chloride to the Boulder Canyon dam site
 Senator Lines of Graham county. introduced Senate Bill No. 2s, for amendment of a provision of the con stitution which prohibits the exercise of the governors veto power against any initiated or referred measure The amendment is intended to make the provision conform 10 another pro- posed amendment requiring that an initiated or referred measure in order to be effective must receive a ma. jority of all the votes cast at the cleo ton al which the measure is submit ted
 Senate Biii No. 2s. introduced later by Lines. proposes amendment of leg islation relative to the levying of ir. riSation district taxes to meet the in terest on district bonds
 The committee of the whole rec commended indefinite postponement of bill to make an appropriation for the widow of Walter Layton. an em- ploy Of the state industrial school. who was killed by an inmate
 letter from State Engineer Mad dock to Governor Campbell was read. asking that means be provided to en- able the state to purchase it's portion of the S1,O00. 100000 worth of road building equipment which the govern ment has on hand. following the war. Maddock stated Arizonas share is s1.500.000 worth. which he said. can be obtained for between S150.O0O to s200. GOO The communication was re ferred
 Representative Hays of Cochise. in troduced in the house two bills for amendment of the gasoline tax and the automobile license laws. They pro- vide that taxes from these sources shall be turned into county road funds instead Of to the state fund
 House concurrent resolution No. was introduced. inviting Herbert Hoover to address the legislature while here, preferably on March 15.
 Democratic members of both houses went into caucus this afternoon, but discussion of the secret conference was so closely guarded that no ink ing could be obtained of what tran spired.