| Show 1 it t REGUlATING r DEPOSIT OF STATE r l FUNDS IS PROPOSED G George coy g e J 1 Kelly e Iy Fathers Senate Bill Providing That Banks BanksY r A APay Pay Y Interest ent en tor George Geore J. J Kelly Kolly Introduced In the senate te yesterday a a bill regulating t. t ing the deposits of state funds In banks I Band and providing for th the payment of In- In rest to the state at a II rate not less than than 2 P per r cent per pel year computed on dally balances R The proposed act compel compels the state ti 5 treasurer to make deposits of or state moneys from tho various funds In his charge and provides penalties for tor his failure to do s so Also penalties arc are Ir provided If Ir he profits b by the and penalties for tor bankers who r try tr to to the official into favoring 4 their institution with wit tho the state busl- busl ties nes nC Ample securities or bonds must bo be provided d b by tho the hanks hanke which get this money o for or safekeeping Government i bonds lond st state fe bonds and the thc b bonds nc of r th the various counties ann and municipalities o or of orthe the the thc state are arc Tc regarded ard d as trustworthy L security It If the state tato treasurer makes 11 a n profit for himself he is liable to conk conr con- con r k for tOl a felony serving a prison k term of ot not more mor than two years ea 18 a afine aj j fine tine of ot or 01 both He shall also alsos 5 s 1 he be liable on his official bond of or S for such private te ro rewards a as he ma may be beT T found to have received Ah Also o If it the state treasurer urI declines to care for rOT the b this act ho Is moneys as prescribed by liable to a R fine fine Bankers who try b by gifts compensation tion or undue In inducements to court the the i It favor vol of or the state treasurer in order tho the states state's business that they ma may got get t. t will If It found guilty Junt he liable to terms 2 of or two years ears In tho the penitentiary fines I of oC or both Il t Section 10 of ot this hill bill SR says Nothing In iii this act contained shall be construed to deprive the sta state to bos board of ot land commissioners commissioners com coin missioners of oC th the power to Invest invest or dl dispose poc of or the funds derived el from the Ithe Vale talc of public lu lIc lan lands s as ns Is now or Ina may mayho mayho ho he pro i provided lcd b by tb th- th law lan Whenever by bythe bythe the provision pro of or this act a n duty is enjoined en en- joined Joinell upon 1011 the tho governor o secretary of ot 7 state and attorney general A majority may mar act ami I the Uio decision elt of or the majority major malor- ma It ity snail shall I h ht e sufficient Section 11 S1 says S 'S All acts an and parts i j of ot acts act n try conflict herewith are arc hereby r repeal I l l. l |
