The Birmingham age-herald., 1907-11-15
Commission AppointedB Hughes
 Ready for Work
REFORMS FOR STATE BANKS
Chairman Hepburn of the Commission Says That National Bank Reuula- tions Are To Be Model
 for Committee.

New York, November 14-In New
 York financial circles the view was freely expressed today that the action
 of Governor Hughes. in appointing 6 commission to recommend changes in
 the New York banking laws. may re-
 suit in slnn.ar movement extending to other sections of the country and
 in the enactment of legislation which will place state banking institutions on
 a sounder basis ard under supervision
 more closely akin to that of the na-
 tional banks A. B. Hepburn, presi-
 dent of the Chase National bank and
 former comptroller of the currency,
 who, it is generally conceded. will be
 the chairman of the Hughes commis-
 sion, is one of the strongest advocates
 of the national banking system in the
 financial world. It is believed that Mr.
 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 report of the commission is
 looked forward to by bankers generally l as likely to express at once the highest
 and the most conservative position as
 to the reforms needed in the way of state financial legislation.
 Other States May Follow. 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. This investigation and recommendations of the commission are therefore looked upon as being national
 as well as local in character.
 MT. Hepburn said today that the com
 mission will get to work inside of one week.
 This is not like the ordinary com mission appointed 10 investigate a sub l ject with which tic members might Or
 might not be familiar.yr he declared. The members of the commission
 named by Governor Hughes are all practical bankers, with the interests OF
 their institutions and nnancial world
 of the community at heart. They know about all there Is to banking business, and each one has in mind certain defi- nite ideas to where and in what man
 ner the banking laws can be improved.
 No Public Hearings. We will be in a position to con- fer with Governor Hughes by Decen- Der 1. It is to be expected that the views of the commission will coincide in most matters, and our work will consist largely in bringing out and em- phasizing the most important points Public hearings will not be necessary so far as we can see at this time. l have been in consultation with Gov ernor Hughes for several weeks. He has taken deep interest in the sub ject and is convinced that changes in the banking laws are needed. We hope to be able to meet his views and to convince the legislature of the pur- pose and the wisdom of the course we shall recommend"
 Trust companies, 1t Is understood will come in for a large share of con sideration from the committee, and 1t is believed that the suggestion will be made that laws governing them should
 conform to those relating to the regu- lar banks. All of the members of tie commission named by Governor Hughes today signifed their acceptance or the trust imposed upon them.
 Banking interests generally in tue city approved the action of the sov- ernor in appointing the commission and expressed their qualification over it's personnel