The San Francisco call., 1908-03-14
THINKS STR|NGFNCY
IS FAST VANISHING
Senator Curtin of Legislative
Committee Finds Business
Nearer Normal
Banks Ready to Meet All 0bli-
cations and Are Now
Making Loans
SPECIAL DISPATCH TO THE CALL


. STOCKTON, March 13-"we have
completed our examination of banking
interests in both San FrancIsco and
Los Angeles and find conditions In both
these cities greatly improved and
money getting easier.- said senator
j. II. Curtin of Sonora. member of
the legislative committee of ak
state banking. today.
'sThe associated savings banks Of San
Francisco" he continued. .nre uo.v
about 10 waive their presentation Of
notice before withdrawal can he had,
thus establishing the fact that the
banks can meet all the demands made
against them. While not particularly
making new loans at the present time,
they are taking care Of all customers
and their immediate necessities.
That condition prevails in Los An
geles. hut they are taking more loans
proportionately in Los Angeles than in
San Francisco. The consensus of opin-
ion seems to be that notwithstanding
the fact that during presidential cleo
tion years investments are not made
to as great extent as in other times,
the bankers feel that there will be
plenty of money in California for all
legitimate enterprises.
The banking fraternity in San
Francisco and Los Angeles say that
the bank commission of the state of
California today is inefficient for more
reasons than one. The principal rea-
sons are that the salary is inadequate
and therefore the examination and
work are not satisfactory, and that
the bankers themselves attach but lit
tie confidence to the bank commissions S
work.
IF better salary were paid and
men could be appointed from various
districts in the state who were fa
miliar with banking methods and with
the value of securities they might be
held in Office long enough to become
familiar With the different persons
dealing with the banks. 1t would then
be easy to ascertain whether the Sc
curities offered and found in the banks
were adequate.
Instances have been pointed out in
which If such law had been enforced
and the bank commission had done
its full duty the loss. as in the failure
of the California safe deposit and trust
company. would not have been SO great.
The several banking interests. the
trust department savings department
and commercial department of the
. banking business, will report to the
committee in writing, a little later.
such recommendations as they believe
VIII OC DSACHOidl W Tile OduhS tlQ Tie
people generally. When this is re-
ceived, the committee viii hold other
meetings at Fresno, Stockton and Sac
ramento to hear the views of the
bankers representing, as it were, the
country banks-in other words, the
banks which deal largely with the pro-
ducer
With all of that matter in the
hands of the committee we hope that
at the next session of the legislature
laws can be recommended for passage
whereby the interests of the depositor
will be better protected and the bank
! ing interests receive more fully the
canfidence of the people
Senator Curtin learned from the
bankers that to move California crops
sS7 100000 annually is required. 1t was
found upon investigation that the
amount needed south of the Tehachapi
was not more than $4,000 This
would leave balance of $50, 900, 900
for the San Joaquin and Sacramento
valleys.