The San Francisco call., 1896-06-04
BANKS TO REPORT AGAIN,
Budd Demands a Special Ac.
counting for Assessors
Benefit.
Wants Report for March 2,
When One Was Furnished March
2S-Bankers Object.

Governor Budd has ordered the Board
of Bank Commissioners to collect reports
from all the banks of the State as to their
financial condition on March 2, 1896
This action is exceptional. 1t is, how
ever, the outcome of Gubernatorial re-
quest to the same effect, but which the
Com missioners informed the Governor
they regarded simply as suggestion.
The Commissioners are required by law
to render three reports each year on the
banks. Their last report was for March
49, 1896.
The assessment-rolls in the several coun-
ties are made up upon the valuation of
property on the first Monday in March,
which this year occurred on the second day
of the month. A great many of the AS
SCISSORS based tn cir bank assessments on
the Commissioners report of March %,
making such slight adjustments as
| were necessary. The Assessor of
San Joaquin County, it will be remem-
bered by those who have followed
| the matter as it has appeared from time to
time in the newspapers, asked the. Bank
| Commissioners for valuations CD March 2.
The Com missioners felt that in comply
| ing with the requirements of the law they
had performed their duty, and so wrote
the Governor in a very polite response to
| his request for the extra, antedated re-
| port.
All such commissions are under the
control of the Governor, and what he Or
| ders must be done. In this instance the
question with the Bank Commissioners is,
Whv should the banks be singled out to
| furnish extra information for the benefit
OF the assessors while the building and
| loan associations, the insurance COM
panies and other similar corporations,
| over which there are State commissions,
are not required to render reports for the
| benefit OF assessors?
| In accordance with Governor Budd's ex.
plicit orders the following official notifca
| ton has been sent out to all the banks in
| California:
OFFICE OF BOARD OF BANK CoMMIssIoNERs,)
| $50 CALIFORNIA STREET
| SAN FRANCISCO, CAL May %, 1896.
| To the Presidents and Directors of California
| State Gnks-GENTLEMEN We this day in
receipt of the following order from his Ex
cellency James II. Budd, Governor of Califor
| MIA, to w.t.
| require information, in writing from the Board
| of Bank Commissioners of the State of California
| of the condition of every corporation mentioned In
| section of The Bank Commissioners act; and
| also require from it information to each, every
and all the facts required 10 set out and forth il
the report as provided Tor In section of the Banl
| Commissioners act, as amended March 26. 1895
| such information TO be. however, as of the sai(
| corporations condition on March 2, 1896.
| That this commission may comply with saiG
order we herewith inclose the necessary blanks
for report and require the same TO be properly
filled out and returned TO this office. as pro
| vided in section of the Bank Commissioners
act. Very respectfully,
By order of the Board of Bank Commission
| ers. Z. II. DUNsMooR, Secretary.
Appended to the Governors order wa
the following explanation of his authorit!
for so doing:
require this information under sections
and 7, article of the constitution of thi
State, and section $50 of the Political Code o
California, subdivisions l. 2 and 13, and th
act of March 80, 1878, creating board o
Bank Commissioners and prescribing thei
duties and powers and the acts amendator,
thereof.
Notwithstanding the Governors defens
of his authority for this order many o
the bankers are strongly opposed to per
forming the extra labor and bearing tn
additional expense. That some OF tn
banks will rebel is fully expected.
The San Francisco Clearing house will
hold special meeting this forenoon at
o'clock to take action on the matter.