New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-03-07
FOR OUTSIDE INQUIRY.
Bal to AppOint Andrercs and Parker
Called Adroit MoUe.
IBy Telegraph to The Tribune !

IBy Telegraph to The TribunsI
Albany March 6.-Instead OF providing any
kind of a legislative investigation of the State
Banking Department the Senate Finance Com
mittee this evening. by close vote. put out
bill creating a commission to investigate con-
ditions in the department and the banking laws.
The commission consists of Charles Andrews
and ex-Judge Alton B. Parker. a Republican
and a Democrat. While their names command
the highest respect, their serving is not con-
sidered likely. The bill names no salary, pro-
viding merely for actual expenses and such
compensation as the Governor may deem
reasonable
The presentation of this bill is regarded by
the advocates Of an investigation as the most
adroit move In all the opposition to searching
inquiry into present day banking conditions.
bill of this character. Senators and Assembly,
men predict, has almost no chance of passage,
while if it were passed 1t would be in such mutt
lated shape and after so long delay as TO be
valueless. No more clever way could have been
devised, according one legislator, to remove
all the onus of a 'hold-up' from the Senate
opposition and still make almost certainty
that there would be no investigation.
This action not taken without protest In
the committee. however and the protest will be
continued on the floor of the Senate tomorrow
when the measure is reported by the committee.
Senators Stevens and Armstrong fought vigor-
ously to save the Assembly resolution or to OBJ
tain the favorable reporting of similar resolu-
ton offered by Senator Stevens as substitute.
They were voted down and the bill adopted
Senators Stevens, Armstrong and Hill, Repub
licans. and Foley and keenan,. Democrats. voted
against the bill and for the resolution.
The following voted against the Stevens reSo-
luton and for the bill: Aids Barnes Brown,
Prime, McEwan (proxy voted by Raines)'
Raines and Grady.
THE TEXT OF THE MEASURE
The bill. it is reported. drawn by Senator
Raines. 1t is. in part. as follows:
An act TO provide for commission to inquire
state. the administration thereof by the State
Banking Department, and the expediency OF
revising or amending such law and making an
appropriation for the purposes or said coTnmls-
sion
Section 1.-Charles Andrews and Alton B.
Parker are hereby created commission, whose
duty II shall be to inquire into the operation OF
the banking law, the administration thereof by
the State Banking Department. and the manner
been conducted of banks. trust companies and
other institutions and individuals subject TO
such inspection and supervision, and also to con-
slider the practicability of revising or amending
the banking law as to better protect depos-
itors and stockholders from loss.
Said commission shall in addition have power
to take the evidence and nroofs In any case of
charges or complaints against the Superinten1-
ent of Banks or the Banking Department, which
with its findings TO the Governor with all con-
venient speed.
Said commission shall from time to time. and
at the earliest moment practicable, report 10 the
Legislature the result of its Investigations. to-
gether with bills to carry out the recommenda-
tions of the commission in regard to the revision
or amendments of the banking law of the state.
Any vacancy In said commission may be filed by
the Governor.
Sec 2-Said commission is hereby auth orized
and empowered to require and enforce the at
tendance of witnesses and the production or
,fv1f-T FbG n
to employ such assistants as may De necessary
for the purpose of It's investigation and report
Sec. 4. The sum of $1,000 or so much there,
Of as may be necessary, is hereby appropriated
out of any moneys in the treasury not otherwise
appropriated. to be paid by the State Treasurer
audit and warrant of the Controller. TO carry
out the purposes of this act.
SENATOR STEvENS'S RESOLUTION.
The resolution favored by Senator Stevens was
as follows:
Resolved Of the Assembly concur) That a Joint
committee composed of three Senators and five
Assemblymen. to be designated by the President
of the Senate and the Speaker of the Assembly,
respectively, be appointed to investigate the Bank
Department and the provisions of the banking
law for the purpose of reporting TO the Legtslat-
ure before it's adjournment. with such recon-
mendatons for amendment to the law may
seem to such committee expedient or necessary.
Further resolved That said COMMITTEES be and
hereby is authorized and empowered TO require
and enforce the attendance of witnesses. the
production of records. books and papers; to ad-
minister oaths and employ counsel and stenoS-
raphers and such other employees as may be
necessary for the purposes of such investiga-
tion. And the sum of $4,000, or so much thereof
as may be necessary, is hereby appropriated
out of any moneys in the treasury not other
wise appropriated. for the purposes Of said in
vestlgatfon-
This differed from the resolution passed by
the Assembly only that II did not specify that
the members of the investigating committee
should be chosen from the Committee on Banks
of the two houses
Over this resolution and the bill debate waxed
hot. Senators Armstrong and Stevens main
tained that the bill would never accomplish
the purpose at stake but, despite their protests.
the majority of the committee voted down Sem
ator Stevens's resolution. tabled the Assemhly's
resolution and adopted the bill. Those who
voted for the bill were Senators Aids. Barnes,
Brown, McEwan. Prime. Raines and Grady.
FRANK IN HIS OBJECTIONS.
Senator Stevens was frank IN his objections
to the hill. which he said at the worst. proba-
bly, was unconstitutional and at the best poorly
designed to accomplish the desired purpose-a
thorough investigation.
When Superintendent KiIburn asked for an
investigation of his department" said Senator
Stevens the Assembly passed a resolution suf-
fciently broad for any purposes of investiga-
ton The Senate Finance Committee sup
pressed this resolution. as we'll as one offered
by myself. and has reported this bill delegating
the legislative power TO an outside commission.
I'm my opinion, the Legislature should do its
own investigating, and not designate outsiders
to do the work / doubt II 1t has the authority
to delegate persons this way. or If the COM
mission would have the power to summon wit
nesses or administer Oaths. We cannot have a
satisfactory investigation under the provisions
of this bill. for the commission named is lin
tied as TO nowars exCept as TO the inYestig igation