The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1905-06-14
ADDRESS PRESIDENT
CHARLES BURDET'[ HART

cry ship shall fly Its own flag.
The Legislature Is to be commended
also for bringing under supervision
OF the Commissioner Of Banking all
building and loan associations and.
mutual investment associations.
whether foreign or operating under
West Virginia charters. A foreign
building and loan association, mutual
Investment association or trust com.
pany. is not permitted Ito transact
any business in this. State directly or
indirectly without first procuring a
certificate Of authority from the Com,
missioner Of Banking" This officer
is given large discretion in the prem.
ises. II he administers the law &C.
cordlng TO its spirit as well as It's
letter, as We may assume that he will, !,
the public will be afforded a protec.
ton Of which 1t has stood In sore need.
This will not bring back the money
that has been drawn out OF West Wiz.
ginia by false representations, but 1t
will put a stop on more going the
same hopeless way. y.
The State provides hospitals for
the insane; 1t does well to safeguard
as we'll as It can those weak.minded
persons who are willing to believe
that somewhere else-in some other
state-they can borrow money on a
basis equal to the credit OF the Gov.
eminent of the United States, and
that in the same orssome other invit.
ing field they can invest their money
at rate Of interest which only imbe.
cile credulity would dream of. 81
In the effort made to place under
State supervision all financial institu.
lions doing or seeking to do business
in West Virginia, this association
had the sympathetic and active co.
operation Of Mr.. NJ. a. Kendall, until
recently Commissioner OF Banking.
This was to be expected from public
officer Of Mr.. Kendalls intelligence,
experience and zeal. Under his di.
rection the important Office Of Com.
missioner Of Banking, though INSULT.
GENTLY equipped, has exercised a
helpful supervision over banks and
trust companies. State supervision
has been reality which has placed
West Virginia in this respect in the
very front rank Of enlightened States
We have a right to expect Of the new
Commissioner OF Banking that he will
, be satisfied with nothing less thar
the increasing efficiency of his office
and OF the State that 1t will require
this and make 1t possible. The com
pcnsation of the Commissioner shoult
:. be such as to command high-gradt
:. service, and the Office should be
, equipped witha sufficient liberality tt
/ enable capable and conscientious
!, man to produce the very best results
s The Office is self-supporting, but II Ii
by no means OF the first importance
;, that 1t shall be 50.
These meetings are always profita
: BILE and pleasant, not alone becaus,
: We are favored with valuable address
: es by thoughtful men, but as well be
cause Of the opportunity they atfort
to make new acquaintances and t,
/. draw more closely the bonds Of oil,
3 friendships. II there were nothing
: but the fraternal coming together,
would be worth while. 1t Is always !;
help to know the man we are dom
9 business with, and 1t often happen
that the better we know him the NOR
9 we like to do business with him. 4
!; We West Virglnians cannot knoy
a each other too well. We ought t
a know Who's who" in the best sense
$ who are the men worth tying up with
4. who they are that take a real bus
$ ness interest in turning to the hes
!. account the wealth Of raw material
t with which West Virginia is endowed
b 1t may be that the better We kno,
!; each other the more self-reliant W
r shall become and the more dispose
/ to join with our neighbors in the goo
! work Of moving West Virginia II
8 rapidly in the Industrial column. W
/ Ishall. Of course, continue to welcom
{ capital and brains and energy tina
n come to develop that which we lac
J. the capital or foresight TO put on
9 hands to; but it should be our cor
slant ambition as West virginians t
Q play a larger part in the d.
t yelopment of our State. II I'VE loo
e about us in this famed Fairmont re
!. gion in which We are privileged t
J. meet this year, we shall see in tn
!, concrete just what we are talkin
. ~ v