Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1904-01-01
} ! |A1[ banks IN IOWA
e : ment That They Should
: Put Under Supervision
SfBanking Department
KEEPING OF STATE ACCOUNTS
Steady Improvement Shown in The Ae-
counting Departments of the State
Probable Legislation to Remedy ,Ex-
istins Defects-Mayor erenton's
Withdrawal From Race.

/
, Withdrawal From Race.
: Special to Times Republican.
Des Mo;nes. Jan. 1.-The suicide o
Banker C. I. Wood at ST. Charles call;
attention TO the fact that this make.
/. the third private banker of Iowa who
has committed suicide within the pas
six weeks in Iowa. This fact is Great
ing much comment among the bankers
OF the state and it Is all unfavorable
to the private banks and bankers. Fol
some time 1t has been apparent THAI
an effort would again be made to bring
Under the supervision OF the banking
department of the state auditors office
Efforts have been made in previous
general assemblies TO do this. but the
iniiuence to permit 1t. This time it is
found on investigation that there are
4 not to exceed half dozen members of
the legislature who are interested di-
rectly or indirectly in private banks.
while quite number are stockholders
in savings and state banks or inter-
ested in national banks. BY reason Of
Go business pretty much as they
Please and are under no restrictions
which insure conservatism the compe-
- q.
/ tition OF the private banks Is strongly
/ felt in all parts of the state, and there
| fore there is a feeling that something
should be done to place them where
| there will be some official supervision.
| In each of the cases where there has
! been a suicide the past few weeks IL
WAS announced that the banks We're
| solvent. These cases were those OF
Cashier Wood at ST. Charles, Cashier
Woods at Colfax and Cashier Mayne at
! I,,inn Grove. But later Investigation in
leuci, cage shows here WAS reckless
banking that would hardly have been
possible under tine safe or national
laws. There are 574 of the private
banks in Iowa doing business. Their
many OF them organizing under the
state laws, but they still! average near
ly six to county of the state Pri-
vate bankers have been apprehensive
Of adverse legislation and have already
taken steps to see to 1t that the bank
ing committees in the legislature are
made up of men whv VIII not be dis
posed to injure them. Despite this
precaution 1t is believed there will be
a strong pull for some legislation that
will compel them to submit to axami-
nation and make reports showing the
amount and character of their busi-
ness at stated periods.
The report of C. c. Heer, Of ARM
strong, accountant for the state execu-
tive council, on the accounting OF the
various offices of the state Iowa, in
cluding all bureaus and commissions,
has Just been filed with the state ex-
ecutive council. 1t covers the work
done by him in the year and includes
report on every Office He Will begin
In January on the checking up of ac-
counts of the Offices for the past year.
The matter of chief interest In this
report Is that 1t shows plainly there
has been steady Improvement In tns
accounting departments of the state
and that 1t is much easier to know
lust what has been done in each and |
every department of the state tha'l
ever before In fact, few years ago
there was utter lack of system n |
the matter of keeping state accounts
Each office had developed its owl
method and they were all different.
But under the guidance OF the execu-
tive council under some new laws or
der has been created where there was
disorder But there Is still room for
and it Is more than prob
able that there will be some legis
latlon to remedy manifest defects in
the present system. The tendency is tn
get more and more power in the hanls
of the executive council as 1t is found
this power is used wisely, and the
labors of the state officers in conne2-
ton with the work of this board are
increasing.
sss
The announcement of the withdraw
al of Mayor James M. Brenton for
the race for denomination as mayor
Of Des Mofnes came as surprise. II
was believed by many that Brenton
vas sure OF renominatlon Ills Irlenu!
showed great confidence and great ac
ivity But a bitter fight was being
vaged against him and the outcome
whatever it might have been, would
nave left many sore spots. John NJ
Vicar, former mayor. had developed
strength in the canvass.
But there was heard on all hands a de-
nand for still another candidate. There {
we're many who We're not satisfied with I
.ither one. Then the Brenton candi
lacy was complicating the municipa, I
with congressional matters.
,apt Hull should have, by the logic {
II events, given the support of his.
machine, to Brenton, but he had NOT ,
ecided upon doing this and was stand
ng neutral In the fight so far as he
ould. Overtures We're therefore mace
D Brenton for him to withdraw with n q
romise of something else in the future Il
nd he got out of the race, in order h
hat there might be unity on George w 1
sheriff of the county, whose {
erin viii expire this week Mattern a
Ill prove formidable candidate but Il
will still be question whether he b