Show BANKS fOR fORI I I fARMING t r TOWNS Co operative Co-operative Saving Institutions lions lions' Proposed by Senator Senator Sen Sen- Senator ator Rideout operative Co savings banks for tor rural communities of the state tato are lore proposed in an import Important t measure Introduced In the upper bouso today by Senator D. D 0 O. Rideout of ot Draper Tho bill Is 18 a companion measure to the land mortgage bank bill bUt Introduced Intro inn last Friday by Senator Rideout Ride Ride- out It Is designed to make mako possible the organization of at savings banks in villages villages villages' and farm communities re- re I moto mota from larger luger banking I The banks would be under the supervision supervision su su- of ot the st state banking commission com corn mission w which h wOl would d be bc the authority authority author author- t ity to pass upon the organization OfF of ot F the banks Seven Sevet or more persons may petition i for r the organization or n of ofa a operative co-operative bank and If it the banking banking bank bauk- ing commission of ot the tho state is satisfied sat sat- that the field of the proposed bank promises success and that the standing of or the proposed members is such as to give assurance that Its affairs affairs af af- affairs af- af fairs would be he administered in ac accordance au- au with the plan of the act a ach ch charter can be issued Th There e is no fixed amount of at capitalization Stock may be bo subscribed at a a. par ar value of 5 5 a L share char and no member will be allowed to hold more than shares shareL The act provides that in towns of ot loss than population the banks shall be known as farmers cooperative cooperative cooperative co co- co- co operative banks and in towns town of ot more than they will be bc known as a. urban co operative banks Funds of oC the bank ma may bo be Invested In Insecurities securities approved by tho board of or di dl- dl r rectors tors Including a 0 certain amount In Inland laud land mortgage bonds bond such as ar aI ara provided provided pro pro- vided for tor in the I land an 11 mOTt mortgage tSo bank banc bill The Tbt bill biti also provides that thai in mal making petty loans of oC a remedial character moro mora than a If al rate of ot Interest t may b. b charged chari d upon th the unanimous approval I in writing by the directors WI Wisconsin Law Similar The bill is patterned after a 0 similar law now in operation In Massachusetts and another similar la law in Wisconsin J In both states state accor according to Senator Sen- Sen Senator r ator Rideout the co operative ln saving saving-s banks kayo havo proved a great reat boon booi to farm- farm I era and in the sparse sparsely settled districts of lIt f Utah especially ho believes es great ben benefit fit could b be had from such or At At the present it Is 15 possible in inman inmany inmany man many places in tn this state for farmers farmen to be lie so 60 tar far from banks that the cost to them in going to to- the bank and back amounts to more than tho the Interest t they Te receive said all Senator Rideout today in commenting on the tho bilL Under the act they would have a substantial bank at home and could participate in its organization and administration in investing In In- vesting a a. part of at t their savings in stock I of the bank While it would require separate to operate both a It land mortgage mortgage mortgage mort mort- gage bank and a co operative savings hank bank the tho t two to o me measures eures fathered by Senator Rideout it would be possible for tor the same Fame officers to serve erve for tor both institutions aDI arid and for tor both to be operated I Jn tn the same Fame banking office B By such ouch combinations Senator Rideout believes U Ues es a a. I trone rural banking system can be hoe de deI de- de I throughout the state I To Govern Optometry Gen General ral revision of or tho tb-c existing laws law of DC the state f governing the optometry are I proposed in senate bill till No 70 iO Introduced intro Intro- today by 8 S Senator Joseph Eckersley 1 1 In the opinion of Senator E kersley the j present p laws governing go opticians are im Jrr im r practical and cumbersome and a revision I IR Is seriously n needed eded One of or the tho most Important features of this measure is the I proposal ropo al to ralee ralas the I standard of ot opticians Under the bill a two year course cours' In tn an IUt optical school of oC leco recognized standing would be required re of all practitioners of ot optometry in tho the tate state At th tim present time e eyeglasses 1 can n l be ho c told MId I almost moet At Ufe IMe M J me c same time me Senator dei de- de i tiaras that If ir a a. strict t interpretation were ere placed upon the present law nil all glasses clans would be liable to floe fine for tor forThe fItting The Eckersley bill provides for Cor the ap- ap of or a state tate board of examines examiners In optometry consisting of three thre 3 meme mem- mem beTa ben The e duty of ot tho the board would b be to I u i iH the tho Practice of ot t tho the H tate state l Members would Optometry be appointed in I for two y two yar ar terms and would have ha to I have lun-e five years of ot eq experIence a as opticians before the th could qualify r n on OM members I |