New-York tribune., 1906-12-31
RECOMMENDATIONS.

The superintendent then takes up the subject of
recommendations. saying IN part:
The amendments which my experience suggests
should be made TO the Banking Law. IL improve
ment OF that act is to go forward piecemea and by
patchwork, are not numerous. In reality the law
should be revised throughout for the elimination
Of is sections with present doubtful meaning
n aad dn6 to it 50 that it shall
might perhaps best be done by a commissioner ap-
POINTED Ga ID for that PURPOSE and psr6ormng the ser
superintendent of Banks.
PRIVATE BANKERS
The attention of the Legislature has repeatedly
d. sn directed in my annual reports to the desir
ness of private banking There are. of course.
many conc3Ins of this character in New York City.
Of entire oorre0tness and Il sP1rah.
db ahe or B % there need e no also Official
skonsi9le or unscrupulous men in the business
ignorant and eredulous among those recently sTe ar
Iyeo IN tn tais country are continually suffering
representation by sign advertising or the use Of
in the Susnesss s Of ann T Se and 25 amy nS
to the superyisf2n of the superintendent of banks
him place oee Of Ink " NeveTtRheess 20 sTR0I5 80
re dI come to the state Banking
@aere Of hs fb o1d Italian Or Yddh
sign or used in advertising iiteratire In eIsrs Ss
insseaaace instance a communication is addressed to the
him hat przisece violating it will i oause Wsenths ths
.elsiuon .. tne District Attorney to be brought
But the law is not construed as prohibiting the
banker there is no sharp significance to the aver
the requirement be enacted that no one be per-
prvae banEeT expt that bs aenosf IN % as
state official securities to the value Of at least so
ors and creditors. aud continue to hold to the
opinion that such requirement would be justl-
bic and salutary.
Section % Of the Banking Law requires state
verified statements Of all deposits and of 'aI dyi
bonds Or other evidences Of indebtedness nc Of such
institutions which shall amount $50 or over and
requirement is REGARDED by banks and by Some de- de-
TIE ghs Of ndydas m tn p4yaot If n
CUISINES ia a5 a anG the Of Banks
tory requirement has in view could as we'll be at
tanned by amending the section TO compel the nling
With the proon add tha. RePsF
@ the 5h9Sd bs ~ sh
TO any one entitled to receive the same
DORMANT ACCOUNTS.
Popular misconception concerning so-caIled "un-
claimed moneys in the savings banks Is so gen
for ' its #Sas ma
as re- aDG ha asa II ts
PSs2ss s perhaps have forgotten
deposors heirs are gnoranf Of fns the eH
Islehce or SUCH moneys-no one knows The
amount OF the dormant accounts in savings banks
! Wlllch are simply accounts In excess of s each
which SE have not been increased by deposits noI
dnnlillsned by Withdrawals. exclusive of fnteres
/ credlte, curing period OF twenty-five years and
Ess s. saH ams sy mos tat
ser ssernestiy to every savings bank which has any
dormant accounts at all that II spare no reason
able effort to locate the owners thereof and tc
nave then taken out of the category of dormant
dar aat IL Is 30 Sny IestiSe TO depostors 1t VIII more
! the system. 'i' A
AMORTIZATION OF PREMIUM ACCOUNTS
mere mas hitherto been uniformity of pro-
J ceuufe oy savings banks in the matter OF deeIins
tne r i, Paid upon the purchase of in
curltles are bought at prices below par hlt az ita
annual meeting last May the State Savings banks
System nnivstsaliy The movement has tn cord
/ lhi IhdorseIncnt of the Superintendent who vii
cooperate in it by modifying tbe forms for tba va
Pe.s OF me savings banks that WIN be neces
len 70 CONFORM 10 II The plan U.s. briefly that a
Pfopef proporton OF the premium or disno1,nf nno