New-York tribune., 1907-11-15
HEPBURN TO BANKERS
disks Members of GOUerHOr's Com
mittee to Report an Week.

Every member OF the committee appointed by
Governor Hughes TO look into banking conditions
and suggest legislation TO place banking on a
stronger basis has accepted hts appointment Each
IS TO reflect the problem for a week Then
the committee VIII be called together 70 hear re-
ports from the Individual members. A Barton
Hepburn president Of the Chase National Bank.
who has been acting as chairman pending meet
ing of the members. said yesterday:
II have sent a letter 10 each OF the i've gentle
men on the commission with me asking them 20
give the subject proposed BY the Governor earnest
consideration for week BY that time We shall
have meeting. and each OF Us viii have definite
views as 10 what revision OF the state banking favs
is needed
'I have nv own views on the subject buk OF
course. do not want 20 talk Of them now. G0vernrr
Hughes has done good thing. but he has given
us hard problem to solve. The need Of reform a
the present moment IS not urgent. but It IS irpor
tart. There win be some marked changes IN or
banking laws within the next year..
There was general approval in financial 1rrfas
Yesterday of the course taken by the Governcr.
Thomas F Ryan expressed his views as fonowss
7 heartily approve the action o1 the GoFernor
In appointing a commission to rev1se the banking
laws Of New York State The nen he has named
for this work stand for all that Is conservative.
and they can be depended upon % recoErnend
legislation which viii not only strengthen the m
stitutions created by the state TO receive the de-
posts of the people. but VIII insure public conf
dence so necessary to these banks and trust com
NAMES People ali the country doing ousf-
ness with trust companies and banks created un-
der the laws Of this state 20 be congratulated
that New York has executive Ike Govs-nor
Hughes"
one Of the most important things 20 be taken up
by the committee will be the amount OF reserve
that shall be required the state banks and trust
companies. Presidents OF national banks. which
are required 10 keep . per cent reserve. have
long been Of the opinion that trust companies
should be required keep IN their vaults more
than the per cent cash reserve which Is al that
Is necessary under the present law. Another sub
fect to be considered viii be the character Of tn
vestuents that may be legally made
The members Of the committee were lOath YES
+er5av 70 discuss their views reform banking
legislation. They realize that it IS a big subject
and one not 20 be discussed without mature delb-
Grafton They also hold that il would be discour
+aous 10 the Governor 70 give their views in ad-
vance OF their report TO him
AIgernon s FrsseH. president OF the Fifth Avenue
Bank of New York. said he regarded the compost
,,o- of the committee as ideal because none % the
so-caued big interests prominently repre-
seuted
,.It is a big thing" said stephen Baker. president
of the Rank of the Manhattan Company; 20 big
10 discuss offhand- We have big task before us
Edward W Seldom said he was only too glad 70
do what he could toward making the financial
legislation OF the state more perfect There Is
big feld TO be gone over he said. and tAink
the laws can be considerably changed. 50 IS 10
bring about beneficial results
Edwin s Marston. president Of the Farmers
Loan and Trust Company. would not talk Andrew
Mills president Of the Dry Dock Savings lns1ito-
ton. was out OF town yesterday