Waterbury evening Democrat., 1908-01-02
BANKING CHIEF TOPIC
Reform Bills Are Introduced In
 New York Legislature.
BLOW AT RACE TRACK BETTING

bGVuv 1I buHV6 sUHSsN VI 's - Wadsworth Is Re elected Speaker, Mer-
 ritt Is Slated For Majority Leader
 and Phillips Will Probably Be Given
 Judiciary Committee Craftsmanship. ]
 Albany, N. r., Jan. 2.-The annual report of the new banking superintend- ent, Clark Williams, submitted to the legislature, excited more comment than did the governors message. The ac- tivity on the part of senators and as- semblymen in discussing if and their inclinations to introduce reform bills indicate that banking will be the most important topic of legislation this ses- sion.
 Senator Page started the legislative movement by handing up three bills designed to bring bank directors to account for wrongdoing. The first bill adds to the acts defining conspiracy "the willful violation of any of the obligations of the relation of trust"
 To Punish Guilty Banker.
 The second bill extends the time in which the indictment for misde- meanor may be brought from two to five years. The third bill makes it easier to punish a guilty bank official by providing that conviction may be had upon the testimony of person who has been party to the crime. but who has derived no pecuniary adyan- tage from 1t. The bill states that mo person shall be deemed an accomplice unless he shall have derived a pecu- niary advantage or other thing of val ue by means of the commission of the crime or shall have committed crime for the purpose of deriving therefrom such advantage"
 The three bills were not accepted at the desk on account of an irregularity in the titles. Senator Page will offer them again Monday night. Sweeping Bill Introduced. Senator Mccall introduced bill GOV ering some of Superintendent Will Hams recommendations It provides that before bank can open branch office it must have capital of $500,- GOO and Sl0O,OOO additional for each branch established. The bill further provides that no bank shall hereafter | be established without proof 10 the superintendent that the organizers are | men of good character with banking experience and that the locality is one | where the business conditions require the establishment of bank and there are reasonable assurances of success; also:
 "The capital stock of banks in this state shall not be increased without the consent in writing of the state SUI perintendent of banks | At all meetings of the directors of banks in this state there shall be sub mitted to and spread upon the minutes of such meeting a full and detailed | statement of all loans or discounts made or commercial paper purchased since the meeting. and no loan to any individual, firm or corporation shall be made on any collateral in sum ex ceeding 25 per cent of the deposit of such bank"
 A violation of the act is made a mis demeanor
 Merritt Majority Leader.
 There will be no fight for majority leadership. Wadsworth having practi cally decided to give the chairmanshiI of the committee on ways and means to Edwin A. Merritt of St. Lawrence Jesse Phillips of Allegany. who as pired to the place. will probably bt given the chairmanship of the commit tee on judiciary. which will be con genial to him.
 In the organization of the assembly wadsworth was reelected speaker by a party vote. every Democrat standinf up for George NJ. Palmer Coione Archie E. Baxter, the choice of the l combined Hughes-odell and Grand Army forces, was thrown out for cleri and Ray E. Smith, the Roosevelt wads worth favorite. substituted. The Dem ocrats voted solidly for Colonel Ed ward R. Atkinson. the second choice after Baxter of the war veterans.
 The annual message of Governor Hughes. which was sent to the legisla ture. contains many important recon mendations.
 The most striking feature Is his ad vocscy of a law to stop gambling al race tracks.
 This recommendation. if carried out will. of course. put a stop to racing as without the support of the gam bling element race tracks could not ex ist
 Bills Introduced.
 Following the recommendation of tn, governors message Senator Page in troduced a bill providing for the ap pointment by the governor of a com mission of eleven to investigate th' local government of the city of New York. The bIn directs the board of es timate Of New York to approprist' s300OO for the work.
 Senator Mccall handed up bill re quiring that appointments of stewardi and judges by the Jockey Club and National SteepIechsse association shaI be approved by the state racing com mission. and every steward must tak, oath not io make any bet or wager or any race run at a meeting for which h'