The Montgomery advertiser., 1907-11-15
IMPORTANT ACTION
MEMBERS or BANKING CoMMIs-
 SION ACCEPT APPOINTMENT.
Changes that win Be Recommended in New York Banking Laws, May
 Result in a National Movement. -

New York. Nov. 14.--In the New York financial circles. the view was freely expressed today that the action of Governor Hughes in appointing a commission to recommend changes in the New York banking laws, may re- suit in a similar movement extending to other sections of the country and in the enactment of Legislation which will place State banking institutions on a sounder basls and under supervision more closely akin to that of the na- tional banks.
 A. P. Hepburn, President of the Chase National Bank. and former Comptroller of the Currency, who, it Is generally conceded, will be the is one of the strongest advocates of the national banking system in the financial world. It is believed that MT. Hepburn will personally recommend to his associates that the State law should be made to conform as nearly as pos sible to the Federal statutes. The re- port of the Commission is looked for ward to by bankers generally as likely to express at once the highest and the most conservative opinion as to the re- forms needed in the way of State finan- cial legislation.
 Many bankers are inclined to believe that the report of the Commission. made to Governor Hughes. may form the frame work for legislation in many other States. The investigation and recommendations of the committee are. therefore, looked upon as being national as we'll as local in character.
 Mir. Hepburns said today that the Commission will get to work inside of one week. s ! "This is not like the ordinary com mission appointed to investigate a sub Ject with which the members might or might not be familiar" he declared. 'sThe members of the Commission named by Governor Hughes are all practical bankers with the interests of their institutions and the financial well fare of the community at heart. They know about all there is to the banking business and each one has in mind cer- tain definite Ideas as to where and in what manner the banking laws can be improved.
 we will be in position to comply with Governor Hushess request for report by December IS. Ii is to be ex- pected that the views of the fndivid- ual members of the Commission will coincide in most matters and our work will consist largely in bringing out and emphasizing the most important points. Public hearings will not be necessary, so far as we can see at this time. have been in consultation with Gov ernor Hoghes for several weeks. He has taken deep interest in the sub feet and was convinced that the changes in the banking laws are neces- sary. We hope to be able to meet his views and to convince the Legislature the wisdom of the course we shall recommend"
 Trust companies, it is understood, will come in for a large share of con sideration from the commission. and it is believed that the suggestion will be made that the laws governing them should conform to those relating to the regular banks. All of the members of the commission named by Governor Hughes today signified their accept ance of the trust imposed upon them.
 Banking interests generally In the city approve the action of the Gov ernor in appointing the commission, and expressed their qualification over its personnel.