The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-10-21
OFFICERS OF
THE BANKERS
yeoncluded from Page 81

NCOnCluutu llpih 'hN ''i
building and loan associations nor the
Homestead companies.
Trust funds are placed separately be-
cause they do not enter into the othef
assets of the companies, and when i
state that each particular trust Is
handled by the examiners, you Will De
better able to comprehend the magh-
tude of the work involved in the exam
ination Of trust company. There
are a number of institutions OF TINS
character the examination of any one
of which requires the united work OF
four examiners for three weeks.
Aside from this, il is an interesting
statement as to the wealth of the citi-
zens of the state.
GROWTH OF THE BANKS.
The growth OF the state institutions
in the way of deposits, loans and in
yesments from Nov. 3. 1898, to June
90 1899, has been remarkable. AS
compared with the November report or
last year the increase in deposits was
s5O,545, ,50971 the increase in cash on
hand was s6,9l1,So the increase in
loans was $50, 531, ,SS5.57; the increase in
investments was $l9,0S3,515l3. The in
crease in the deposits in saving insti-
tutions, approximately nine million OF
dollars, is very gratifying and attests
the fact that the wage-earners are
sharing in the general prosperity pre-
Vailing.
The number of national banks in this
state to June 80, 1899, was 43l, and the
aggregate resources were $59I ,624,4ot.Sl.
six examiners were employed and two
or three Of them have assistants. The
work, however. of the state bank eX-
aminers is very much larger than that
of the national bank examiners. 1t is
claimed by us that the examinations
are more rigid, and has so been ac-
knowledged by officers of national
banks who are connected with state in
stitutions. A complete list is made or
all securities, collaterals and invest
ments, and the transcribing of these
schedules, in addition to the written
reports, represents no small amount
of labor imposed upon the examiners,
who often burn the midnight oil' in
their preparation.
The department in it's supervision of
building and loan associations is per-
haps more closely in touch with, and
its influence more widely felt by the
citizens OF the state, than in it's other
work The number Of shares held in
these corporations in 1898 was 1,933,47
WORK GREATLY INCREASED.
banking department occurred in 1895
no additional clerical force was pro-
Vided for, although the work was in
creased ten-fold. The office force is
composed of three clerks. whose duties
consist IN mailing reports and sched-
ules twice per year to those corpora
tions required by law to make two re-
ports, and once per year to domestic
building and loan associations. These
ha n no opk nnNlpIpn1 aud a
record of the same kept in books ro-
Vided for that purpose. All of the
material included in the annual re-
ports have to be transcribed by them.
The deputy commissioner in connec-
tion with the commissioner, receives
and answers all correspondence The
special reports of examinations come
TO the hands of the former. who care
fully examines and digests the same
for the commissioner. These digests
are the basis for communications sent
corporations regarding irregularities
correction of errors, infractions Of the
laws under which they are incorpor-
ated and compelling obedience to the
same. The commissioner conducts
hearings had before himself, and also
before the attorney general when the
necessity for the same arises.
Some little antagOnism was encoun-
tered when the department was first
created, largely, it is believed, by a
misapprehension as to the character OF
the examinations to be made and the
reports required. This disappeared
however, like dew before the morning
sun when it's aims and objects became
known. While il has primarily the
interest Of depositors and stockholders
at heart, it also proves to be a helI
to the institutions. 1t may be thai
some of the requirements Of the com
missioner are frowned upon. In mat.
ters of judgment he may differ from
some of the officers of the institution!
under his care. He has no desire tC
be arbitrary, however, and conscien
tiously seeks TO do that which will sub
serve the best interests OF all.
THE ACT QUOTED.
Section 10 of the act creating tn,
banking department reads as follows
THE commissioner of banking, nor tn
deputy commissioner of banking no
any employe of said department., shal
not. directly or indirectly, wilfully ex
hibit, publish, dlvulge or make known
to any person or persons, any record
report. statement, letter or other mat
ter, fact or thing contained in sal
banking department, or ascertaine,
from any Of the same or from any ex
animation OF any corporation subjec
~ SNiSAOAS VI TINS dClt eAceDllnl
only by such publication in such man
ner as Is herein expressly authorized
Ind any breach thereof shall be
breach OF duty on the part Of the com
mission Of banking. Deputy commits
Ioner ef banking or any employ
bf said department, and the person $
offending shall be guilty OF a misde
meaner. and upon conviction thereof
shall be sentenced to pay fine not ex
eeedins 81, 600. and be dismissed frer
his employment in said department"
BY reason Of this prohibition, tn
banking department is not PROMINENT
brought TO the notice of the publ,
which has but little knowledge Of tn
work Il has done and is doing. tn
provision OF the law just read, to Jeal
ously guard the information obtaine
from corporations by reports and eS
Bminations. is no doubt a wise en-
but II might be so modified that III
commissioner could. in his discretio
tnd under certain restrictions, furnis
Information for legitimate purposes.
The commissioner Of banking realize
The delicate and responsible work in
posed upon him In the administratio
Df his office. He expects faithfulnes
Hnd discretion to rule the employees