New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-18
APPROVE WELLS BILLS
CONSI1IS EMPH1TIC.
Think They Viii Protect Immi-
grants from Ticket S.cindlers.

Consuls of nations whose subjects have been
swindled by East Side private bankers" and TICK
Of agents expressed in the warmest terms yester-
day their approval OF the Wells bills. which aim TO
place all money changers and others of their kind
under strict control. The first Wells bill 10 con-
troll the bankers has been passed, and will become
operative law next September. The second
Wells bill which places the ticket sellers under
control OF the big steamship companies, viii be
put vote next week
At the imperial Russian consulate No ? Stone
street Mr.. de Lodygenskys first secretary said;
I'VE have been very glad 10 that the philan-
thropists have taken up the fuller protection OF
Immigrants We have received so many complaints
from Russians who have been swindled that 1t
seems II people were more often victuized
than other foreigners OF course. We can do moth
ing for usually, except 70 send them TO of
the legal aid societies TO the public prosecutor
THE new law that his excellency the Governor
has signed will leave at least something In the
small bond on which the persons who have been
swindled may collect. I believe that everybody
who Is interested IN the welfare OF newcomers to
this country owes thanks to the Womeu's Munich
pal League for It's work and 70 Assem5lynan
Wells for his initiative"
Baron Otto Henning O'Caroll. Consul General OF
Austria Hungary. was equally appreciat've OF the
merits or the measures. At the consulate. No l2S
East 18th street. Vice-Consul Ienha said to
Tribune reporter: such laws will help us in our
work because they will protect our countrymen
who come here ignorant OF the language and Gus
toms I have read eagerly whatever has been
printed about these Wells bills. and l wish only
that tho bond were larger"
While he was speaking Baron O'CaroN came In.
on learning from the vce-consul the subject under
discussion the baron exclaimed All the Wells
buls They good. very good and necessary"
The italian Consul General. Count Annibale Rata
bandi. said. automatically: Il would like 20 say
how much good these laws would DO. If II were
not for the rule l have established. not 20 give
opinions on any subject 10 the newspapers"
Dr. Kurt Ziegler, vice-consul at tho German
the laws were needed; but that he had never heard
of case where German immigrant had been
IS because the German imisrant usually comes
mere 20 IN ma Garmsnv and deposits his money I'm
regularly established banks"
we2 Bills Wss pres@9ted BY Max Rose 81 the
banking house OF Moretz Rosett, which estab
has ts on head f d S at No III Liberty street With
Sn'a amd At PERIL Mq AmSoy Mr Rosot u said there
question that the private banks , should
do SO 10 put them under the Jurisdiction OF
the nRk and SRA T sad the ' Pa
bankers subjected to calls by the bank eYanlII
banks As example Of the good TGsuts Of this
bank examiner To- be in financial muddie Inc
creditors received between 70 and so per cent of
they ACCOUNTS hod tng o man nave kGow5 his con
dition until he had failed or had taken the money
Mr. Rosett said that the idea Of having fixed
sum as a bond for a banker was fundamentally
rrong 4 banker who could not get surety COM
naur To furnish SIS 900 bond required under the
Wells act he said. could deposit with the state
SI5 600 Of his clients money. All the surplus de-
nosits would then he his disposal and he would
he AS free as under present conditions to lose II
or sduander il at Will
Mr. Rosett. who has made study of banking
laws. believed that the Wells bill would be declared
Unconstitutional II II ever tested, because II
applied uuy To private hanks which dealt in foreign
steamship tickets. This, he thought was infrins-
ing on the federal prerOE0tive Ot regulating COM
IOarce with foreign countries. The second Wells
bin which forbids persons to hold themselves forth
as agents for a steamship company without writ
ion commission from the company. he said.
analogous To the anti-scalpers' law, which de-
cinrcd unconstitutional in 1892 by the Court OF APP
peals in the of the People agt. Frank. Tho
-scalpers' law was to forbid persons other than
authorized agents Of railroad line selling tickets
over the line. rhe court held that the state had
delegated its powers to a pri rate party (the rail-
road company ard SO the law went by the board.
Tho WomCn's Municipal League" said Mr..
Rosett, means well. and certainly regulation is
needed. but these laws will, l believe. prove in
effectlv" The hest way 10 regulate the ticket sell
would he by federal statute. 1t would seem
that such statute ought % pass easily Just
with Oscar Strauss at the head Of the Department
Of Commerce and Labor and a former police
missioner N tho White House. Both these gentle
know the suffering entailed by ticket agents
UhO dishonest