The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-03-01
TO EXAMINE THE BANKS.
STATE TREASURER sPEER on HIS
ANNUAL TOUR OF INSPECTION.

VIII Probably Remain Three or
Four Weeks-TwO or Three of sa-
vannah's Banks Require Much
Time for ExaminatiOn-OnIy State
Chartered Banks Examined-Mr.
specr on the Integrity of savan-
nah Bnnkers-The City Has a Fine
RecOrd-TvO of Her Banks Do as
Much Business as Any in the State.
The banks chartered under the laws of
Georgia that do business in Savannah will
all be subjected to a rigid examination
during the next few weeks. State Treas
urer Speer, to whose lot their examina
ton falls, will visit the banks and request
that statements be placed before him.
Mr.. Speer arrived yesterday, taking in
state that he regularly visits. He is stop
ping at the De Soto. He expects to be
here three or four weeks, as the examina-
ton into the accounts of all the banks
requires considerable time.
The law demands that the state treas
urer shall inspect each bank chartered by
the state at least once year. Mr.. Speer
says considerable of his time is taken up
in making these inspections.
There are 100 banks in the state that
am required to examine" he said "This
means that 1 must be away from my Of
flee at Atlanta five or six months during
year. Considerable travelling is, Of
course, necessary as the banks are scat
tered all over the state. Some of them
require more of. my time than others.
Those doing great deal of business and
which have large capital stocks often re-
quire several days in which to complete
the examination of their accounts There
are Two or three such banks in Savannah,
and they will be the means of keeping
me here some time longer than l would
have to stay were they smaller institu-
tons"
In speaking of the banking interests Of
Savannah, Mr.. Speer said there are two
banks, one particularly, that do as much
business as any in the state. He described
them as magnificent institutions with
every possible care and precaution taken
and constantly observed for the protec-
ton of depositors and those doing bust
ness with them.
The treasurer would be one of the most
surprised men in the state should he run
against anything amiss in the accounts
of any Savannah bank, which he is not
likely to do. Savannah, he says, has a
wonderfully clean record in its banking
transactions, nothing wrong having ever
been brought to light through examina-
tons. The busness-like methods that have
always been pursued induce the treasurer
to expect nothing but precision and ex-
actness in all the accounts that are sub
mitted to him.
The national and private banks are not
examined by the state treasurer. These
are not incorporated under the laws of
Georgia, and their accounts are not gone
over. The national banks have their reg
ular examiners. \ bill was passed by the
last Legis stature requiring the treasurer to
examine the private banks. This bill was
drawn by Mr., Robert Berner, and prob
ably grew out of the report that had been
submitted by the treasurer. advising that
private banks be required to place some
notice upon their stationary to show that
they are not Incorporated. This, the treas
urer says, is necessary, because many peo-
pie do not know that the private institu-
tons are not Incorporated, and their ad-
Yertisements convey no knowledge of the
fact. Mr.. Berner went further than the
report advised, and so framed his bill as
to require the banks 70 be examined the
same as those regularly chartered. Mr.
Speer sought under the law, to examine
the books of private bank in
Atlanta, but was refused access to
them, and later an injunction was secured
against his examining the books. This in
Junction is still pending, the banks at
torneys claiming the law to be unconstitu-
tional. The case viii come up before the
Superior Court Of Fulton county in a few
weeks. Its issue Is awaited with interest
Whatever the result in the lower court. II
is expected that the case will be appealed.
The bill as passed makes no provision
for private banks, sharing the expense of
the examination by the treasurer. In the
case of the chartered banks this expense.
which consists of the treasurer's travelling
and other expenses, is borne by assess
ments levied upon them, each being taxed
l according to the amount of its capital
/ stock. Some Of the banks thus pay ten
times the amount paid by the smaller
ones. The matter is evened up by the
treasurer devoting much more of his time
TO the investigation of the affairs of he
banks Of large capital stock