The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1925-01-26

pear 10 De OF commanding III
The legislature, when it
failed to comply with the fir
Sorlie, who urged that appre
of in the first 20 days of the
of the time might be devoted
Butt few of the important institu
tional appropriation bills have beer
passed in either branch of the legis
lature. The demand of the Governo
for economy, however, finds no op
ponents in either branch of the leg
islature. Appropriation bills are be
ing pared at every turn. The in
juno. jon of the Governor against log
rolling and trading Of votes on in
stitutional appropriation measure
thus far has been observed. ,Th'
method of the appropriations com
mittee in introducing bills for Sc
parate institutional appropriations
rather than putting in omnibus bills
has done much to discourage trading
of votes. The general consensus o
opinion that economy must be prac
ticed is another factor.
Big Measures
Among the measures of prime
Importance now before the leg
isiature are:
Banking measures, including
limitation Of interest rate and
borrowing power of banks.
Restoration of exemptions
from taxation upon small homes
and household goods.
One bin to make state hail
insurance compulsory and an
other providing coming system
for state hail insurance.
State Highway Commission re-
organization bills, with gas tax.
Authorizing railroad commits
sion to enforce intra-state
freight rate changes.
Tax on coal having over $500
Faitish Thermal Units of heat.
bill for constitutional amend
ment making county judge and
clerk of court one office in coun-
ties under 10000 population.
Substitution of gross earnings
tax for property tax on telephone
companies.
Anti-cigarette repeal law.
Ratification Of federal child
labor amendment.
Except as to the banking legisla
tiOn and the proposed Investigator
activities of the legislature embrac
ing the State Highway Commission
and the state hospital for the insan
at jamestown, and the anti-cigarett
bill and child labor amendment, n
important divisions of opinion hav
as yet arisen in the legislature.
Banking UppermOst
Banking legislation is assumin
greater importA Ance, and sharp divi
sion of opinion is certain. The Stat
Senate probably will fight out o.
the floor, either today or tomorrow
the first of the several banking bill
of Senator Ralph Ingerson, chairman
of che Senate banking committee
This bill, Senate Bill No. 2, makes
four percent the maximum legal rat,
of interest bank may pay and
percent the maximum legal rate O.
interest a bank may charge. 1t is tt
come before the Senate on dividet
report.
The banking interest rate bill pro
badly will be defeated in the Senate
although by close vote. 1t is no.
improbable that it will succeed in ar
amended form, making five percen'
and nine percent, substitutions fo1
the "four ands eight" provisions OF
the bill. The "four and eight" bill
bankers have told the banking com
mittee, would result in irreparable
injury to the small banks Of the
state but be help to the large ones
Ingerson Bills
Among the bills in Senator In
gerson's banking program are:
Making it unlawful for any
bank to hypothecate more than
80 percent of it's assets and maxi
ing it illegal for any bank to
pledge collateral on basis of
more than 1875 percent of the
amount of money borrowed; that
bills payable shall not exceed
the combined amount Of capital
stock and surplus.
Requiring shareholders of
banks, in order to guarantee dou-
BILE liability, to deposit, in stocks
or bonds Of the state or subdi-
: visions with the state treasurer,
an amount equal to their bank
stock.
Making it larceny for an Off
Ger of bank to borrow money
from the bank.
In addition to these measures, Sen.
ator Page has introduced bill linn
iting the pledging Of collateral
though not so stringent as the In
gerson bill. Mrs. Minnie Craig, rep
resentative, has introduced bill
providing that banks would pay three
percent interest on certificates oi
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