The record-union., 1896-06-09
BANKS ASKED TO REPORT.
The Bank Commissioners Send Them a
Circular.
Governor Budd's Letter That Brought
About the Commissioners
Action.


has been in progress between Governor
Budd and the Board of Bank Commits
eioners, growing out of the request OF
the State Board of Equalization to the
Commissioners that they would Sc
cure from the banks of the State a re-
port as to their condition on the last
day of February, in order that the
County Assessors might have data on
which to base their assessments.
The information did not material
ize as desired, and the Governors at
tention was called to the matter, and
the following statement was prepared
and handed to him, upon which he be-
gan a correspondence ON the subject:
(Extracts from minutes of State Board
of Equalization)
Sacramento, March y, 1896.
MIR. Ortman also requested that the
board confer with the Bank Commits
sioners with a view of getting a re-
turn or report from each bank in the
State as of the last day Of February.
Mr.. Beamer moved that the request be
granted, and that the Chairman, Mr..
Morehouse, act as a committee of one,
on behalf of the board, to confer with
the Bank Commissionersin in regard tothe
matter. Motion seconded by Mr..
Chesebrough. Carried unanimously"
(Extract from Mr.. Warehouses; letter.
Il have called on the Board of Bank
Commissioners several times; found
only one of them in; it will be two weeks
before they get together, but they say
the Assessors can come into their Of
flee at any time and see the returns as
they come in of any bank they have
looked over. 1 think you had better
drop a line to the San Joaquin County
Assessor, telling him 1 am unable to
get any report from them until they
get together
L, Charles M. Coglan, Clerk of the
State Board of Equalization, hereby
certify that the foregoing are correct
abstracts from the minutes Of said
board, and from a letter to me as said
Clerk from Mr.. Morehouse, in regard to
the matter above mentioned.
CHARLES NJ. COGLAN,
Clerk State Board of Equalization.
Following is a copy of the last letter
sent by the Governor 10 the Bank Com
missioners, which tells the whole story of
the affair:
May 81, 1896.
Board of Bank Commissioners, State
OF NEUTRALITY-SUSPICIOUS.: Yours of
May 10Th to hand Your Commission
is appointed by the Governor for the
purposes set forth in the Act creating a
Board of Bank Commissioners. Under
Sections and Z, Article V, Constitu-
ton of California, and Subdivisions l,
> and Ii of Section $50 of the Political
Code, the Governor is entitled to the
report from you, which l have hereto
fore requested
This information you receive through
reports and personal inspection, is sup
posed to be for the public good and
you publish your information at public
expense for public benefit, and include
IL your report to the Governor such
other matters as in their your opinion
may be of interest TO the public" (Sec-
tion 3, Amendment 1859
What if the information required be
used for the purpose of seeing that
banks are properly assessed? How can
they be harassed thereby? 1t is pub
lie information acquired by public Off
GERS, and 1 cannot understand the talk
ABOUT harassing capital. Do bankers
claim that your board possesses knowl-
edge that other State officials are not
entitled to? Harm cannot be done
banks by requiring a report on the first
Monday in March, or the last day of
February instead OF on the 2Sth of
March, nor could capital be properly
harassed thereby.
In your letter of April 10Th you show
that on March 31st your board issued
an order for the banks to make a re-
port as to their financial condition on
March %, 1896. Why that day was Sc
lected does not appear, but it was
known in your office, and by some of
your commissioners that the State
Board of Equalization desired the state
ment to be made as of the last day of
February or 1st of March, 1896.
On March 9, 1896, as appeared from
the minutes of the latter board, Charles
Ortman, Assessor of San Joaquin Coun-
ty, requested that board to confer with
your board with a view of getting a
return or report from the banks as Of
the last day of February.
On motion Mr. Morehouse was ap-
pointed committee of one on behalf
of this board to confe. with you. 1 at
tach certified copy Of minutes of March
9, 1896. Between that day and March
18th he, as such committeeman, called
several times on your board at your
office, and saw one of your members,
to whom he spoke of the desire of the
State Board of Equalization. That he
got little encoura cement his letter
shows 1 attach extracts from his let
ter.
Thus, your board, on March 31st,
must have known of the desire that the
banks report be as of the last day of
February or the first Monday in March;
and yet you fixed it for March 2Sth.