The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1925-02-23

vote.
With but IL days of its 6O-day
session left, the 10Th general assem-
bly, Of North Dakota was speeding
up it's bill manufacturing machinery
today to dispose of great volume Of
work yet before it. In the process
Of selecting measures from the large
number of bills before it, the assem-
bly, last week began to kill as we'll
as to make laws in volume, and the
accelerated pace was expected to con-
tinue for the next two weeks.
Under the rules of the legislature,
House and Senate must dispose of
bills originating in the respective
branches by the end Of the 5Oth leg
islative day, SO that in the last 10
days the House considers only Senate
bills and the Senate considers only
House bills. A night session of the
House before the 50th day was in
prospect.
The policies Of the legislative as
sembly, as indicated in the work of
the past week, are made more appar-
ent from the bills which were killed
than those that were passed. The
final record is yet to be written.
Banking Legislation
Radical banking legislation is
doomed. The Senate defeated the
Babcock resolution for a referendum
on a constitutional amendment pro-
viding $lO,O0O.O0O deposit to aid
depositors in closed banks. The
House rejected bills making deposit
Of public funds in the Bank Of
North Dakota compulsory and pro-
viding for the establishment Of
branch state banks on petition Of so
percent of the voters of county.
Efforts to revise the present system
of receivership of closed banks have
made no headway.
Most of the so-called radical bank
ing bills in the Senate have been
defeated. They included the bill to
require stockholders of state banks
to place bonds to the amount of
their capital stock in trust fund, to
guarantee double liability, measure
which, bankers said, would make the
investment in state bank so high
that it would discourage the forma-
tion of new banks and cause many
bankers to quit. The Senate also
stepped" on bills making it larceny
for an officer to borubw money
from bank, changed the radical pro-
gram of limitation of borrowing, and
every other proposal made to greatly
change the present banking system.
The House fell in line with the
Senate program when it defeated a
proposal to reduce the contract rate
of interest to eight percent after
January l, 1927, and it is probable
that the Senate bill, reducing this
rate from 10 to 8 percent, will be
passed. No headway has been made
with measures providing for linn
itation of four percent to be paid to
depositors by banks.
State Industries
The state industrial program also
is virtually settled. The bill giving
Governor Sorlie full control of the
North Dakota mill and elevator at
Grand Forks has two companion
measures, a bill declaring the state
elevator terminal market and
measure designed to improve the
warehouse receipts law. Both are
expected to be enacted. Financing
of the mill was settled. although not
in a manner satisfactory to many
members of the legislature. (.
The majority in the House frown-
ed on any proposal to make a direct
appropriation to provide operating
capital for the state mill at Grand
Forks, and instead the provision was
adopted whereby up to 100000 ad-
ditional may be borrowed from the
Bank Of North Dakota. Nonpartisans,
endeavoring to keep down appropria-.
tions. and hoping that the mill will
pay, did not want : direct appro-''
As -. f q 4 u y