Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1896-12-09
COMPTROLLER ECKELs ANNUAL
Recommendations Mnie for Changes In
the National Banking Law.


the National Banking Law.
Washington, Dec. Sin his annual
report, which was given out yesterday.
Comptroller Of the Currency Eckels
suggests ten amendments to the ma
tional banking law. among which are
the following: That loans and discounts
of banks to the executive officers and
employees be restricted I'm amount and
secured by proper collateral; that no
loan be made to a director not an exc
cutive officer of the bank. except upon
collateral security or a satisfactorily
Endorsed note; that directors be re-
quired to make an examination of their
bank once each year upon a day to
be designated by the comptroller.
That in places having a population of
less than 1900 inhabitants national
banks shall be permitted under regula-
tons to be made by the comptroller of
the currency and approved by the sec
rotary of the treasury. to be organized
with a capital stock of not less than
$4,000. and with a corresponding re-
duction in the amount OF bonds required
to he deposited with the treasurer of the
United States. That national banks he
permitted under proper regulations Co
established branch banks in towns and
villages where no national bank Is es-
tablished. and where the population
does not exceed 1.oe0 inhabitants: such
branch banks in no case TO be permitted
to issue circulating notes other than
of the parent bank. That the semi
annual tax on circulation be reduced
to one-fourth of I per cent. and that
the issue Of circulating notes TO the PAR
value of the bonds deposited be per-
mitted.
Figures are given showing the cost
to the United States Of maintaining
the legal tenders. and the difference In
such cost II the notes had been con-
verted to 4 per cent. bonds. which diff
ference Is shown to be So. $50 22s With
this cost Is compared the profit to the
government on account OF the national
banks. which has been si57. 1925.
Views nj the Postmaster General.
Washington. Dec. "a vigorous pro-
test against the abuse of the postal
service is made In the annual report Of
Postmaster General Wilson. He quotes
figures which show excess Of expendi-
lures over receipts OF ss.l21. oss for the
past fiscal year. which. however. is n
decrease in deficiency of s1.619. $50. as
compared with the previous fiscal year.
The postmaster general says there Is
no necessity for q deficiency at all and
lays IL chiefly to the carrying In the
mail at second-class rates. one cent n
| pound, of a large amount of printed
| matter not contemplated by the law.
He also objects to the franking privi-
lege. He favors civil service reform in
misunderstanding to its limit, and makes
many recommendations for the i'm
| provement of the service, advocating
the passage of the Loud bill. which he
| says would wipe out the deficiency.
Washington, Dec. 9.-W. 3. Franklin,
| president board OF managers of the Ma
| tional Homes for Disabled Volunteer
| Soldiers, in his report to congress says
that applications for admission are
| more numerous than ever before. A
| greater number of persons applies for
admission each year and as they are
nearly all eligible 1t will be necessary
for congress to make additional pro-
vision for their accumulation.
How Somebody Does Lie These Days.
Washington. Dec. 9.-Henry c. Payne
said yesterday that the report that hi
had resigned the vice presidency OF the
| Milwaukee Electric Railway and Ligh,
company was entirely erroneous. and
that 1t could be said authoritatively
that he had not resigned.
Lorimer's Anti Black List Bill.