, 1925-01-26
SOLONS IN
CAPITOL TODAY

Continued from Page one.
banks" and bad banks.' but only
good banks. 1t is no fault Of the
public that the good bankers Of the
state have been made to suffer by
the acts of others in the same line
OF business. who could in no senso
be classed as good bankers. that is
simply their misfortune and they
must bear Il. The good bankers OF
the state must come forward and
place at tho service OF the law max.
ers all the knowledge and export.
ence they have gained in their busl.
ness.
The Legislative committees are at
work at present, digesting n mass
Of suggestions ard Proposals. and
as usual they cover a wide range
OF p~racticability and impracticabll.
i,y. 1t is possible out OF It all that
a satisfactory law my be evolved,
The state banking department has
submitted a voluminous bill, sweep.
ing tho present laws from the stat.
ute books. and enacting a now codo
s~urmountiug present OWLS, the whole
being patterned after the codes Of
other states, in relatively our sltua-
ton and In which stdtrs these codes
have proven successful. This partic-
ular bill is receiving careful consider.
alton.
Mr.. c. w. Erwin Of Lusk, = bank.
er Of wide experience and former
bank examiner for tho state of Nc.
brnska, was before tho committee
and made a suggestion that mot with
considerable favorable comment.
Mr.. Erwin's plan is a state reserve
bank. An idea Of tho plan may be
gained from the caption, which is
as follows:
"A bill for an act to create tho
State Reserve bank. defining its cap
ital, how the same shall be provided
and making appropriation therefor.
prescribing the number of directors
and how they shall be elected. pre-
scribing for tho management OF such
bank, defining the duties OF direc.
tors and officers. defining the pow.
ers and duties OF such state reserve
bank. and making obligatory upon
state banks TO be members OF such
state eserv bank, to subscribe 10
tho capital thereof, providing for the
supervision of state banks and au-
thorizing the directors of tho state
reserve bank to provide rules and
regulations therefor, and vestlns the
dutier and requirements now i'm
pos hv lay upon the state exam.
liner ue reformed by tho state
reserve bank, to act rs receiver for
closed banks and close the affairs
OF such banks. To act as fiscal
agent OF the state Of Wyoming. and
It's political subdivisions, to act in
the capacity OF a state depository for
public funds. Custodian OF state I'm
yestments and securities. to act as a
depository for securities pledged for
public fund deposits, and 10 be the
reserve agent OF state banks and
defining its method Of Investments.
Authorizing the writing OF Fiduclury
bonds OF state, county. school dis
trlct ana municipal officers. Fixing
the eserv to be carried by said
state reserve bank, authorizing such
bank to buy and sell securities at
Will and limiting It's functions"
The proposed bill fixes tho capital
stock at $500, 900 and TO be paid out
OF the state treasury on demand of
the bank, in quarterly instaIlments.
The details are worked out cover
ing about every contingency known
to arise in such a bank.
The notion OF bank guaranty,
which was rampant at tho opening
OF the session seems to have been
abandoned as unavoidable and undo.
sirable. Much has been learned re-.
speeding guaranty, from the expert.
ence OF adjoining states. whore It
has operated. In no state, regardless
Of local conditions, can tho guar.
unity law be said TO DO successful in
operation.
/ Within the next week, lt is thought.
a proposed banking bin viii DO really
laGnched In the house.
Bills Passed,
Just before adjournment Saturday
the house -sDurted up and passed
five bills, none OF which was OF OUT
standing Importance IS follows.
II. r. IS, introduced by Mr.. Nc.
Neeso Of johnson county. 10 amend
and re.enact section 2, chapter 20.
Session Laws OF 1923. rotating 70
drivers Tor consolidated schools.
II. B. 30. introduced hy judiciary
committee, TO repeal sections 67os.
CI09 and G71o. Wyoming Compiled
Statutes 1920, rotating TO non.
cup0tlyo wills.
II. y, 81. another judiciary com.