The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-01-07

temporary receiver was uppolnleu ny
me-"
Colonel GilkesOn recommends that the
loans In relation to building and loan as
sOCiatlons and the whole subject of such
associations should he taken up by he
legislatu lie also makes the following
recommendations: That the Applications
for charters of trust companies and other
financial institutions should be submitted
to the banking commissioner for his APP
proval. That foreign corporations COM
Ing under the supervision of the banking
department and applying for authority TO
transact business Within the slate, should
he submitted to the commissioners OF
banking for his approval That foreign
corporations doing business In the state
should he obliged to have printed on all
litera tire issued their corporate name
and the location of their home office, city,
county ana state. That no institution
should be permitted to make loans upon
the security OF its own capital stock.
That the percentage of loans to officers
and directors of trust companies and
other financial institutions should, un-
loss named In the acts Incorporating
| them, be fixed 10y law. That fixed per-
centagc of cash In proportion to de-
Dcsits should he required by law to he
kept in the vaults of banks, trust corr
panies etc, and called the reserve. That
the oaths of directors of all the finan-
| required to be filed in the banking de-
partmtnt. That all corporations having
power to receive and administer trusts
should be required to set apart pCrma-
nently definite percentage of each divi-
dend declared as a reserve for the addi-
| tional protection of the trusts committed
| to their custody. That no individual fire
| or Incorporated company be permitted TO
use in the CordCct Of a banking business
| any name, sign or device resembling in
| any respect that of a bank or other fnan-
! cial corporation. That Il uniform rule for
| all institutions be established fixing n
| reasonable period beyond which no loans
| upon which interest remains unpaid
| should be permitted TO be carried as an
| available asset That n general license
| fee reasonably heavy should be imposed
| for the privilege OF doing business within
| this state upon all foreign building and
| loan associations. That all domestic
4 building and loan associations should be
| required to register in the banking de-
| partment and that when such assocla-
| tions cease to exist an affidavit to that
| effect should be filed in the depart ment.
| That the question OF the issuing Of fun
| paid and prepaid stock by building asso-
| Citations, chartered under PENNSYLVANIA
laws, should be taken up by the esiS
! lature and such issue of stock, either le-
| galized or absolutely prohibited. That
| the holders of stocks Of other CORPORA
tions as investments by the financial In
| Stitutions of the commonwealth should be
| IN some degree regulated by law. That
| tho act creating the banking depart
] ment be so modified as to permit the
| commissioner upon proper cause shown
| to give information TO officers. directors
and stockholders of the condition of cor
porations III which they or any of them
are interested as disclosed by special ex-
animation thereof.
| %
There are on the books of tile depart
ment l,2S9 building and loan associations,
| of which IS are corporations of other
| states permitted by law TO do business in
| Pennsylvania. The numher of special
l examinations during COIOnel GilkeSOn'S 8