Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-01-11
0A|0'S new GOVERNOR
Myron T. Herriek Inaugu-
rated at Columbus Today,
IMPOSING CEREMONIES
TEN THOUSAND PARTICIPATED
IN GRAND PARADE.
Governors Speech Dealt With Proper
Corporation and Banking
Laws.

COLUMBUS Ohio. January 11.-The in
auguration of Col. Myron T. Herrick as
governor of Ohio today was participa ted IN
by thousands of people, including numer-
Gus citizens of other towns in Ohio.
Gov. Nash and the joint legislative COM
mttee, escorted by Troop A of Cleveland.
of which the new governor was formerly
member. proceeded to Col. Herrick's resi-
dence on East Broad street. With him they
returned to the state capitol later and the
ceremonies incident to the inauguration
began with an Introductory address by MI
John Y. Bassell. secretary of the Columbus
board of trade. After prayer by Rev. 8. s.
Palmer, Gov. Nash presented the commits
sion of office to Col. Herrick and Chief
Justice Jacob F. Burket of the supreme
court administered the oath of office.
Turning to the crowd which filed the ro-
tunda of the capitol, Gov. Herrick said:
The Governors Address.
Gov Herrick said, in part: The affairs of
a great state such as ours should be con-
Quoted with the same care and prudence
that a careful man of business would eX-
ercise in the management of his own prop
erty When man in business has funds
on hand he finds a safe and profitable In
vestment for the same, that they may not
lie idle and unproductive. From time to
time the state of Ohio has In Its treasury
large balances of money. This means not
only that the business and commercial
world is deprived Of those amounts of cir
culating medium, but that the state has not
the benefit of the interest, which, under
proper conditions and safeguards, 1t might
use and enjoy. Having this in mind, /
would recommend the passage OF a state
depository law similar to those in effective
operation in other states, and II, In The
necessarily hasty preparation and passage
by the last legislature OF the municipal
CODE there be any defect in the depository
law for municipalities that should be cor
rected
To Revise Corporation Laws.
The constitutional amendment doing
away with the double liability of stockhold-
ers of various corporations gives to the
state of Ohio an opportunity to revise and
codify its laws with reference to the or
ganization and control of corporations SO
that our citizens will not feel impeiled to
Incorporate in other states for business
which they wish to transact in the state of
Ohio. 1t should rather be our aim to so re-
enact the laws bearing upon the incorpora-
ton of companies that they Shall be IS
simple and comprehensive as possible pro
tecting alike all of our citizens, or those
doing business within our state, who seek
to invest their money in our corporate en-
terprises, and at the same time safeguard
ing the public IN their dealings with such
corporal tionS.
Under the provisions of the national
banking law frequent examinations are
made by competent examiners of the con-
dition and soundness of banks establ SIZED
under the laws of the United States. These
examinations, after trial of forty years,
seem to amply justify tbs method OF gov
ernmental supervision over banking insti-
tutions. Unfortunately, institutions estab-
lished under the laws of the state of OHIO
for banking purposes have, in some IN
stances, met with disastrous failure, wh,ch
might have been prevented and the putEc
warned If similar system should be estab-
lished for them.
For State Banking Department.
In this connection recommend either the
establishment of state banking depart
ment or the enIarging of the powers of the
state auditor, SO that all banking and trust
companies Incorporated under our state
laws shall be subjected to thorough ami
confidential examination to the end of at
fording protection alike to depostor and
stockholder.
Governor Herrick. referring to the Ohio
National Guard, said he was proud of the
organization and hopes to improve It's per-
sonnel during his admin straton.
He recommended a revision of the laws
governing primaries and elections and the
codifying of all statutes in connection
Herewith. He urged needed amend men S
to existing school laws recommended add
tional appropriations for Ohio eXh bits at
the St Louis exposition, called attention to
the benefits to be derived IN replacing. to
some extent at least, the fores,s which
have disappeared from the state. In clcs-
ing Governor Herrick sa d:
Il ask your hearty c. peration and as
sstance in the iabors before me. l des;ra
to congratulate our state upon the splendid
administrations of Governor NASH who has
served the state as good and faithful
servant"
Signs officials Commissions.
At the conclusion of the address the gov
ernor proceeded to the executive chamber,
where he signed the commission of Secre-
tary to the Governor Tod B. Galloway.
Meantime Lieut.. Gov. Warren G. Harding
editor of the Marion, Ohio, Star, was being
inaugurated in the senate chamber, and
the newly elected state officials were being
irducted into office in their various de-
partments
At / o'clock Gov. Herrick. accompanied
by ex-Gov. Nash and the state officials
took his place in the inaugural parade
which moved through the principal streets.
There were fully 10000 men in line includ-
ing forty-four companies of the Ohio Ma
honal Guard, battalion of the United
States army, veterans of two wars civic
and secret organizations and a division Of
historic pageantry.
Tonight there will be a public reception
rendered by the governor while numerous
banquets will take place.