The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1923-01-26
MAY CONSIDER
BANK REPORTS
IN SECRECY
Senate Banking Committee
Discusses This Proposal
Made by Member
NOTHING TO HIDE
NOTHING TO HIDE
Cass County Senator Says
Guaranty Fund Commission
Has Nothing to Conceal

Reports by the state guaranty
fund commission on details connect
ed with the collection and disposi-
= tion Of the state guaranty fund will
probably be received by the senate
committee on banks and banking in
executive session, it was indicated
today.
At meeting of the committee
late yesterday Senator Atkins Of
Towner,. moved that the action of
the committee in calling for the re-
port be reconsidered. He pointed out
that\ the publication of this infor-
nation might seriously affect the
safety of some of the banks in the
state.
Senator Rusch of Cass, objected
to this saying that the guaranty
fund commission had nothing 70
cotceal and that the committee
needed the information to clean up
the mess caused by the depositors
guaranty law.
"This is the worst situation in
many ways the state has ever been
up against" said the senator. "What-
ever we do we can't please every
one. If such situation arose in my
own business I'd say simply write
off the loss, and think that's what
the state should do and get rid Of
the law, if we cam"
Senator Ingerson, who introduced
the resolution calling for the report
said that it might be received in exc
cutive session, and not be given
publicity unless the committee
thought proper. After some further
debate Senator Atkins withdrew his
motion for reconsideration.
The committee then continued
analyzing the original report made
by the guaranty fund commission
with the assistance of the commits.
sion members who were present.
The resolution calling for the de-
tailed report on the guaranty fund
is regarded by some of the Inde-
pendent leaders as the first gun in
AN attack by the Nonpartisan League
on the state administration in corr
nection with its conduct of the af-
fairs of closed banks.
AhS LAWS SSbACo 1OI IHc sup.
Elementary report are the follow
ing:
A detailed report of all assess
ments made for the state guaranty
fund up to Dec. 81, 1922.
A statement of the deposits of
the fund made by the guaranty fund
commission showing the amounts
placed in each bank up to Dec. 81,
1922.
A statement of all payments made
from the fund up to December 81,
1922.
A statement of the balance of the
fund, and where it was kept on
December 81, 1922.
Many Bills Put In
Introduction Of. a total of 33 bills
several of them of conAlderable i'm
portance marked the only feature
of the senate session yesterday aft
ernoon.
The bills introduced included two
brought in by Senator Ettestad of
McHenry county which would elimi-
nate tax exemptions on city property
and farm implements, and would set
up new rules for assessment, and a |
bill introduced by Senator Walter
Bond of. Cass county to make possi-
BILE the consolidation of banks. The
last name measure is the one put
before the senate committee some
10 days ago by A. G. Divet, attor-
.ney for the North Dakota Bankers |
Association, and described fully at
that time.
The two measures introduced Dv
Senator Ettestad will probably un-
dergo considerable change before
they are reported out by the sonata
committee on taxes and tax laws.
They eliminate the tax exemptions
on practically all classes of prop
erty except farm buildings, churchk
property, fraternal orders property
and property of the government.
They also list for 100 percent as
sessment railroads and public utili-
ties, lands fncluding farm lands,
buildings on right of way sites, etc.
Other taxable property is to be as
sessed at 30 percent of it's actual
valuation.
Would Emit Levies
Somewhat allied to these two is
Senate Bill 148 introduced by Sena-
tor Martin of Morton county, which
IL passed would limit all tax levies
to GO percent of the, levy made, by
the same taxing body for the pre-
vious biennial period.
Of the bills introduced today 21
were portions of the biennial bud
get, and were referred back to the
committee on appropriations which
had introduced them. A somewhat
different policy is being followed in
regard to appropriations from that
of two years gao, the appropriation
for each state institution and de-
partment being made in separate
bill.
Slope Condition
A peculiar condition on the Mis-
souri Slope was brought out in two
bills introduced by Senator Peter
iarberg Of Hettinger county. In
his region there are q large num-
,er Of la1 suits pending against a /
insurance company for ,
(COntinued On parA TshraaN