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[House, No. 132, as amended.]

Commonwealth of Massachusetts.

HOUSE OF REPRESENTATIVES, March 12, 1878.

The Committee on Banks and Banking, to whom was referred the Order relative to the expediency of further legislation in regard to Savings Banks, report, in part, the accompanying Bill.

For the Committee,

EDWARD I. THOMAS.

Commonwealth of Massachusetts.

In the Year One Thousand Eight Hundred and Seventy-Eight.

AN ACT For the better Protection of Depositors in Savings

Banks.

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

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1 Sect. 1. Whenever, in the judgment of the 2 board of commissioners of savings banks, the secu3 rity and welfare of the depositors in any savings 4 bank in this Commonwealth shall require a limita5 tion or regulation of payments to its depositors, said 6 board may, by an order in writing directed to such 7 bank, limit and regulate such payments in time and 8 amount as the benefit of all the depositors may re9 quire. Such order shall fully express the terms of 10 said limitation or regulation; and it may be changed, 11 or wholly revoked, whenever in the judgment of 12 said commissioners the welfare of the depositors in 13 such bank shall so require.

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Sect. 2. Any person aggrieved by such order

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2 may, within thirty days after service thereof, appeal 3 therefrom to the supreme judicial court. + The court shall hear and determine the rights of 5 the parties under such order, and may alter, affirm, 6 or annul the same, as equity may require. Upon i the entry of such appeal, the court may order such

notice to all other persons interested as they may 9 deem sufficient; and all persons so interested may 10 appear, and become parties to the appeal; and the 11 decree thereon shall be final, and binding upon all 1. persons who appear, or might have appeared, and 13 become parties to the proceeding. During the pen14 dency of the appeal, the order aforesaid shall re15 main in force.

1 Sect. 3. This act shall take effect upon its pas? sage. and shall continue in force three years.

HOUSE OF REPRESENTATIVES, March 14, 1878.

Passed to be engrossed.

Sent up for concurrence.

GEO. A. MARDEN, Clerk.

IN SENATE, March 15, 1878.

Passed to be engrossed in concurrence.

S. N. GIFFORD, Clerk.

Commonwealth of Massachusetts.

IN SENATE, March 18, 1878.

The Committee on the Judiciary, to whom was committed the Bill to regulate the compensation of Special Justices of District Courts, are of the opinion that provision is already made by law for what is proposed to be accomplished by the Bill; and therefore report that the Bill ought not to pass.

For the Committee,

JONA. WHITE

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