The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1908-12-03

Grated that IL his faithful followers
would come and pray with inirn he
would be healed.
BOTH FELICITOUS
President Receives Message From the
Late Emperor
Washington, Dec. 3.-Defects in
methods Of bank examination and the
inability of the comptroller Of the
currency to deal with infractions of
the banking laws without restoring
to such harsh punishment as the
closing of the offending nationat
banks. we're pointed out to the ma
tional monetary commission today by
high officials Of the treasury depart
ment. Interested listeners were Of
flcers. members of the legislative
committee and prominent members of
the American Bankers association,
who will be given an opportunity la
ter to approve or, disapprove of the
suggestions for amending the laws
governing administrative features of
banking.
Any general revision of the national
banking laws is not contemplated by
the present hearings, all of which are
executive. Such changes as will be
recommended In all probability will
be confined to amendments which can
sbe made without friction between
bankers and. ofictals charged with the
senforqeInsnt -of the national banking
laws. In other words 1t is the intan-
ton Of the: national commission to re-
port to tho coming session Of congress
amendments which practically all in
terested persons will agree are need
ed to correct faults in the laws gov
erntng the conduct of national banks,
but it is not intended to provide for
any general revision of the laws In
advance Of the full report of the COM
mission, which will not be made un-
til the first regular session Of the
Sixty-first congress. j.,
The hearing today was continued
uutil late in the afternoon. A state
ment was made by Secretary Cortel-
you, who added to suggestions he had
made at former hearing at Narra-
gansett Pier. A brief statement was
made also by Ia A. Collidge, assist
ant secretary Of the treasury, but
most Of the day was occupied by
Lawrence O. Murray, comptroller of
the currency, and Thomas P. Kane,
the deputy comptroller. They ex-
planned IN detail the amendments
they think should be made to- the
banking laws.
Great interest was shown in Mr..
Murray's request for the passage Of q
law which would enable him to deal
5udtciously with minor infractions of
banking laws so as not to inflict dis
tress upon stockholders not RESPONSE
BILE for the violations and not to in
jure q community where the banking
institution is situated, as would be-
the case IL the bank was closed. Mr..
Murray did not complete his state
ment today.
The legislative committee of the
American Bankers committee is
composed Of Arthur Reynolds, presi-
dent Of the Des Moines National
bank, chairman; e. P. swinney, presi-
dent Of the First National bank Of
Kansas City; ]. "A. McCord, vice presi-
dent Of the Third National bank of
Atlanta, Ga: John L. Hamilton,
Hoopestown. ILL.,, and w. v. Cox,
president Of the Second National
bank Of Washington In addition
there were present w. II. Porter;
president Of the Chemical National
bank Of New York; Thomas p. Beal,
president of the Second National
bank of Boston, and Ernest A. Hamill,
president Of the Corn Exchange Ma
tional bank Of Chicago.
KS Most sot thesee bankers have. re-
csived, recently circular issued BY
Comptroller Murray, which asked Of
bank directors . number Of questions
pertinent to practical banking. Mr..
Murray wanted to know, among other
things, II the directors attended meet
ings oI the bank boards; II they took
. healthy interest In the proceedings;
Il they were familiar with the sigma
lures Of chief borrowers, and many
other things. BY reason Of these
questions some Of the bankers as
sumed that Mr.. Murray was inquiring
II they were dummy directors and
they resented the inquiry. Whom he
appeared before the commissionS the |
bankers In . measure had made OF It |
q hostile camp, but In the noon re-,
cess the comptroller and the bankers
came to an understanding, or ct least
. partial understanding, which re
moved the frigtd Atmosphere