New-York tribune., 1906-12-31

ment shall be carried always upon the same basis
The shrinking, amortization. where a pre-
saonn i to eboa s. Sf6va the a IN in aopns @
| new valuation at the end OF each six months.
BRANCH SAVINGS BANKS.
is baRqs aw be s opaSss
IN ohsf spa ds @ as IN w
s eHyns n css OF
urgently for savings bank facilities.
es @ IF sha ay Ra shoad hs IN
a to s soh Sr m
ssms ely yheTs It's prlnflpal efioe IS i the sx
am am Comment that Il It ToSd be, It night eSehtasy
dncted at points more remote from the parent in
stitution and so serve IN this respect the thirty
IS nd wb z o
securing such accommodations and advantage. are
likely to go long without them
BRANCH BANKS AND TRUST COMPANIES.
The Attorney General construes the Banking law
to authorize trust company to transact business
named init in its certioate Of incdRrporation or Char
Of Banke in the The 81 same
official who is by statute the law adviser Of the
dscout in the city Of t New Yor is e1sd SUBJ
b to 4 But he Pha d% gTs eR eRp fs
in the one case and constructvely In the other to
to n OF Of s wha IN 5fhs s
the M 1G OF It wSud not adyantags
are not believed TO e is men for the trust Again
5snk shall give 1e his W in Wrng and ioy 1
instead OF his Judgment sanctionug the act II
most enlphatically and unreservedly question and
1t is both an an gconsistency snd a6surdity IN the
and charge him with resn9Gs1 ri in the one csse
and deny him discretion and authority in the other.
expressly provide that the discretion shall
be lodged in the Superintendent of Banks with ref
5nd ts gives him With
atea facts oonneated 5S' With S the failure 'o
Of the German Bank, of Buffalo, brief statement
ing Of two IN nso5s tits eboa baeSSbh b th Ss 1
has been said and written which really had foun-
MERCHANTS TRUST COMPANY
January. 1903 a report was made to me bv ex-
entners of this department, from which It appeared
that this company had loaned a little over HoN 90
ket value, and the Intrinsic worth Of which It was
and the management Of the company, In the alb
sence Of fraud, had the right to make them upon
so s a. been an M Of Tie
the Attorney General. and thus have escaped ali
further responTasibty and yet 1t might have been
shs tsat oSmpsns @ vas 81 insoivsns fer
than saenf he soea OF he
pany; Upon receiving the report at once called
reotors es were accessible went, over the whole
ns the Wa dae them S ali or sa n fsr s0s s %
conclusion that it was my duty 10 make at
pgss6e 70 as the TO Which &c m
n dSns W'9 the As s assu ha
and az o IN Of e e III sse Seo
any Of $1,000 This Of course TOOK time patience
and great deal of work,
30 there @ concade not IN % Pen Ws int
Solvent nor that its caPItai was ii impaired 'f am
me {s The e6naas # haa slated e. the s
g5 nns the h9 into the hands Of receiver it
curities and in great loss to depositors Such a
Goqose 8 ,o (. in my opinion wa, not Justified bensyed
and, # not, least to save evarything possbie
Te5n nd Sn1ious e sna ateaoH saoH Its affairs my un
n 9Sa hs eoq o. On
Of ths eopPany reported the Xttorney S'anS en
fSg ehs ha aas Of fss
IN Pull wth soen aaa Ss been PAID
otd at dosns sG pay ns nieseS. n all u from
before the Court of Appeals and pay eomethinS %
firmly believe viii agree that any 9i othsr hs affair dar.a
0 TD@a h haTa me o e II ssSs 4 og g.
ar receiver was appointed exacted daily reports OF
aRo aR6 s9Rs sssT csasaS
duty Ssoh2sS to oosrss @s sat wa. '
iny has BEEN hghs 2 he mater att
me1ded s by some Of the best bankers in New York
that which pursued could have been tnstiSed '''h
GERMAN BANK OF BUFFALO
No reasonable person Will claim .hs, the snoo.s.
or failure of banking Institution does not direo9iy
depend upon the character and honesty OF its man
ageinent py is officers and directors. II is quite
as Impossible for a supervising officer, either ma
tlonai or state. 10 direct the Immediate and de-
tailed management of banking tnstitrffon or r.
see TO it that officers and directors are able anS
ness sst or clergyman to prevent all wtckedness
!, The German Bank of Buffalo was an cid insf,+,
non There never had been a time up to IT'S cIos.
wnsE eE any report OF examination, any other re-
IN condition which bordered on Insolvency There
was no evidence of evasion or violation OF law
In the spring Of 1904 the controlling interest In
parties. one Mr.. Appeyard and associates Imme
diateiy upon hearing this I sent an examiner to
examine the institution and TO ascertain the si1
1lnSahce or this change Of control. The examiner
made an exhaustive examination and report ana
came to the conclusion. and reported to me thar
the change OF control for the better: that Mr..
Appieyard was a man Of large means. and there
change OF control was not bona fde and for the
The principal com plant in connection with tina
German Bank is based upon the fact that il was
statements that some depositors were favored
during the time the bank was open on that morn
has made sss irbfesp3nsole and the cashier
in consultation with the board of directors and u
suppose that everybody who heard OF tho trouble
and Fho had amy any deposit with the bank tried to
osea amounted dteposss te sbaut at ths time the bank
$4,000 was drawn ont during the limo the hanE
that morning 49, ~ Wv '''"
do not think II is generally under,tooa that +h.
so-called oepostors committee which made the
compiant in this matter was not the regular and
aeb arrer number on composed Of
ion, of great responsibility ana headed w 'tM NJ.
Lautz; an eminent citizen OF Buffalo since de-
ceased This original committee never maSe spv
i