Show I STATE FUNDS INTEREST QUESTION BEFORE ClUB Board of Governors Asked to Approve Proposed Changes in L Laws ws A subcommittee of ot the Commercial committee on laws and legislation legislation legis legis- lation yesterday submitted Its report to tho the committee concerning proposed ed edlo lo legislation providing that public mone moneys s 's should pa pay Interest to tho the pub lie Tho Tim report was adopted b by the committee and ana referred to tho board boar of or governors for Cor approval Tho The subcommittee composed of ot Jay H. H Stockman chairman A A. T. T Sanford W. W N. N Williams G. G K j. Smith and Bismarck Bismarck Bis Die marck march Snyder stated In iii tho report that it had not had hart time LImo In Iii which to tomako maize mako an exhaustive study of ot tho the subject subject sub sub- but hut but In brief submitted tho the fol tol- lowing recommendations That in their opinion a n law lav can bo prepared that will not bo ho in conflict with tho tIm constitution of or this state That If It such a measure Is pas passed sod the tho salary of ot the tho state treasurer should bo be Increased That t r v n n. n P r h i u t tn nn a- a 0 LU L w bond bond bond-be be he b borne r rb by the tho state i That the law should provide that banks which are aro depositories of Ir public moneys be required to give a adequate S security r I ty That no bank be permitted c to hold public moneys amounting to BO fiO per cent of ot the unimpaired capital of ot said bank That tho the minimum rate rata of ot Interest should be bo 2 per cent That the state should not bo be re required ro- ro to pay Interest on oit overdraft If It there is money belonging to an any 30 fund of or tho the state in tho possession of tho the bank That penal statutes should be pro- pro pared to meet tho mandates of or the state constitution and providing that tho the treasurer be he punished for making any personal gain aln from the public moneys mones an and that an any banker er or other person offering tho treasurer any Inducement in inducement In- In to violate tho the law should hould b be properly punished That the penal statutes bo made separate separate sep sep- arate arato and Independent of or all other provisions provisions provisions pro pro- visions of or this law |