Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1907-05-18
pur1Es on BANK pLREoToRs.
Synopsis of Paper Read by Hon.
7. NJ. Henry Before the State
Bankers Association.

I. nj. Henry Before the state
Bankers Association.
r. NJ. Horny, Auditor of Public Ac-
counts OF Mississippi, to whose depart
mcnt State banks are required to report
at least four times yearly, read the fol-
lowing paper at the meeting of the state |
Bankers Association, held at Gulfport,
his subject being Duties Of Directors
Their Leading and Moral Responsible
ties:'
Owing to the fact that the laws of
Mississippi contains so few safeguards
for the protection of the h1nn's capital
or its deposits, il becomes important and
necessary that directors exercise the
more watchfu! care and active system
attic vigilance over its affairs, and at
least to be fully and constantly informed
as to its general conditions, and particu-
larly whether the officers entrusted with
its executive management are true to
their trust and are faithfully perform
ing their duty, bonscientiously and with
on oyo sir,,Io 70 lie General welfare. This
-.,.9l H., no.. L,o,
'"" "n'y D' "'5"''0
! themselves IN 'lo'e 'ou'n WIN 'A1'
bank IT'S securities anu TO d 'alSe "a
tent, with its patrons. These the pat
rons have more than Il reasonable right
to expect and to demand,
IL IS wen recognized inugh "a ''e Jus
ness "i Ihe uanN III l'('' 'Hr Ely"!e'
Pof'ioh-conleS IhrouSl '.e 'y'so,t,'l ~
Huehce OF inc directors ilV'I' i ,uuI..! Va
as WhoIe' anu 'H'N yoilgsl'".l''.'E,S IVY
S''ou l"''''., '.J;',, o,,Ioot ~ "a
o''''s oH eI''.'l''"'i' " II,
eve" perform ~ " nan '''''''N' P''''''N
Tory manner .....-...., 49,
Inc directors Snouio Dc lll5 SeI ,.4 ~,
'ue Wu''n IoNe' NItu ','"uIi ',t e;n, e.,
oiu MO" Guy W ,l'v o,,,lN . - &C. a.,
"O o''e G''e'. '''' ~ 'p'0''s' ", N', -
ger an" WIN Su''iyl',y ' ..'IS ,,.,,sr
promptly give tug waning ,'II',. " ,,,,'
~ see" "PPl''N"'"-' VI Nv, VA ,''
an" ~ wv" N'' ''''' ei I,,ol,
WIN ,'1, '9''', ~ p'Y n,,.ll,,oor +L,,
an 'N''"l az i';',' a., W. ''I''' saI
S"N'I'l VI '',' ''S''' -
should he selected therefor
probity of character and business DUAL.
ifcations above inst criticism should
''',o''9 GO ~ Ioiaation +har
nnv nossible amount of stock directors
, nav he WILLING and able TO subscribe for,
,,"l oe WINS "',,' 0l, W rooo,
q nized and honestly lived up to, will in
2 s,tra foI ony b,nj< satisfactory career
and tho resncct and confidence of the
community Without if no institution
can EXPECT lone and enduring prosper.
ity and would not deserve it.
With propor care on the part of direc
tors and a reasonable exercise of their
share Of the responsibility with that of
the president and cashier. bank failures
would wcll-nigh be a thing of the past
if not entirely so. Banks do not become
p insolyent. or men thieves or defaultcrs
in day. or week, or month"; BAT
. like the corroding things in the physical
= life. comes from slow. cankerou.
Growth hardly perceptible at first, be
n Ginning with carclessness. indifference OF
i the lack of knowledge and watchfuness
a ON the part of directors-no intention Of
= dosiro ov;stino ORIGINALLY to wreck III,
u hank or oven seriously iniure it. Discov
y orod in fine as they easily can be, ir
reruloritics or peculations could be cor
a