Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1907-05-16
ENJOYING THEIR PERIOD OF POWER,

leYlky among hepupllchu OHcthisi anu
they apparently enjoyed the prospect Of
telling how carefully and economically
they were navigating the ship Of State.
Well. the investigators sas last Wednes-
day, holding full days session.
Hon. D. o. Watkins, State Commissioner
of Banking and Insurance, was the first
witness.
Mr.. Watkins said be had been com mis-
sioner since 1908, and that his salary was
Sc, 600 per year. He testified that from
January to April l, this year the depart
ment receipts were $204, 045.13. and dur
ing the same time he turned oyer to the
state treasurer $149, 7e6. 81.
At once Mr.. Backes began to query
about the balance In reply to question
on the part Of counsel as to why the bal
ance had not been turned over, Mr.. Wat
kins said that it was maintained in the
Mechanics National bank Trenton city, and
in two Woodbury. institutions He adj
mitted that the account in the Mechanics
bank was small, the bulk of the money
being kept at Woodbury. in the name Of
ssDavid o. Watkins, state commissioner OF
banking and insurance. !"
Asked if the Woodbury. bank paid inter-
est, Mr.. Watkins said that it did not.
Taking up the deposits in the Woodbury.
Trust Company in detail, Mr.. Backes
showed that during the three months the
deposits were $40, 1890. The balance
there April was $31, 253.09 and Mr.. Wat
kins admitted that from this deposit the
State had not received cents interest.
Taking up the books of the Mechanics
bank Of this city Mr.. Bakes showed that
that institution had paid 1929 95 interest on
a deposit of the state department. during a
portion of last year, and be asked Mr.. Wat
kins why be did not make all of his depos-
its with the Mechanics bank, so that the de-
partment would get the benefit Of the
interest. Mr.. Watkins declared that he
had right to make the deposits in any
bank he deemed safe. Have you any
criticism Of the stability of the Mechanics
bank?' asked Mr.. Backes. Mr.. Watkins
said that he considered it no worse nor any
better than the Woodbury. banks.
II was at this point thas Mr.. Backes
piled the witness with questions as to his
relations to the favored institutions.
'Are you interested in any Of the Wood
bury banks?n asked Mr.. Backes. Mr. Wat
kins admitted that he was. Pressed further.
he said be was stakeholder In both banks
and that be was also director. When
asked why the money was not kept in the
bank that would pay interest Mr.. Watkins
said be had never thought about the matter
and admitted that he had not paid much
attention to the details Of the banking Of
his department..
Mr.. Baokes then showed that it was soon
after the witness took Office that the bulk
of the balance Of his department were main
tanned at Woodbury..
Woodbury. is Mr.. Watkins home. Mr..
Backes then sought TO get Mr.. Watkins to
testify that he had drawn money from the
Mechanics bank to deposit in the Wood
bury banks. He referred so deposit in
the Farmers and Mechanics bank at
Woodbury., May "a, 1906, Of So. 035, and
asked if this did nos come from Trenton
bank, but Mr.. Watkins thought not.
Mr.. Backes showed that most Of this de-
posit comprises the firemens' relief fund
paid to the department by insurance com
panies, and that it had been in the Wood
bury bank for more than six months, yet
no interest was paid. He asked Mr.. Wat
kins if be would not have benefited the
fund if the bank had paid interest on the
deposits, but Mr. Watkins said he had never
thought about it.
Switching suddenly, Mr.. Baekes took his
first shot at absenteeism, when he asked
Mr.. Watkins as to the time he gave his
duties as commissioner of banking and in |
surance. Mr.. Watkins said he was in his
office at least two days a week, and some
times more. He also said that he con-
QbCSCtA COuclcCA dDAC CeNtC OpcattCs CIV HaAo I
private Office in Woodbury.. Chairman
Hahn, Of the committee, then brought out
the point that Mr.. Watkins acted as coun-
sci to she Woodbury. banks, and few
minutes later the witness was excused.
Mr.. H. Ripper, Jr.. Clerk Of the Supreme
Court, gets salary Of $4,000, and testified
that he was in his Office one day in the week
from 10 to 4 o'clock. Then he works 2os
hours a year, at the rate Of $50 per hour.
A Miss Allen, stenographer in the Law
Department was shown to have been in her
Office once or twice in the past six months.
Lewis T. Bryant, Commissioner Of Labor,
said that his salary as head Of the labor de-
partment was s., 500 year. He had held
this Office since 1904 Previous to this he
had been chief factory inspector. Mr..