New-York tribune., 1908-03-02

-eceivershie and obtaining the consent Of the
courts 10 the merger with the Metropolitan
Trust Company.
Bankers were great, amused yesterday at
Attorney General Jacksons statement that the
powers Of the State Superintendent Of Banks
We're too great il is and at his criticism OF
the banking legislation which is at present
pending at Albany Mr.. jackson called the nili
which contemplates giving the state Superin-
tendent 81 Banks the right TO appoint deputy
10 look after suspended banks, and relieves him
Of the necessity OF calling in the Attorney Gen
ssraI "a most dangerous and ridiculous piece OF
legislation and almost infamous IN its nature
This bsIi in particular has received the entire
support OF bankers and financial experts an
over the state. il gives 10 the state super
f-teuden; of Banks powers similar TO those ex-
errised by the Controller Of the Currency over
rational banks When federal bank suspends
the Controller OF the Currency has the power 10
arrofr- al once a receiver al a fixed salary,
which czrnet be more than $4,000 year, and
IN the case OF all save the largest banks is much
below the maximum figure In the case Of sus-
v,ent5ed state institutions however. the State
Superintendent of Banks must ask the Attorney
General TO apply TO the courts when he de-
Sf-es receivers for q bank. The fees OF the re-
cafvers SO appointed are fixed by the court and
are usually much- greater than under the fed
e-aI system The temporary receiver for the
Hamilton Bank. for example, received S1oe"
for one months work. while counsel received
$4,000. Under tIe proposed legislation all this
would be done away with
DIRECTORS TO ACT WITH RECEIVERS
PAM Csrout. counsel for the Mechanics and
Traders Bank. said last night that the direc-
ro-s Of the bank would act with the temporary
receivers IN getting the bank on its feet and
open again for business s soon as possible he
SAID he had no intention Of opposing the action
Of the Attorney General IN having receivers ap-
pointed
Attorney General jackson, with several OF his
assistants went 10 Albany on Saturday night,
hui he is expected back at hiss office here this
morning
Charles NJ Higgins. one Of e receivers for
the Brooklyn Bank said yesterday he did not
know there was any movement actually started
70 draw Governor HuEhes's attention 70 the
close personal and official association existing
between Attorney General jackson and many OF
The receivers for banks and trust companies in
this CITY whom the Attorney General has been
instrumental in having appointed. Mr.. Higgins
wasn't bit surprised. though. AT the announce
-77enr that charges might be made against Nj
Jackson for helping his friends 10 good berths
and fees and salaries at the expense o. deposit
ors in the banks and trust companies. There $
certainly material enough for such charges,
said M Higgins. The Oriental is getting just
about the same dose got II the Brooklyn
Bank when Bruyu Hasbrouck, OF New PATTI, q
friend Of Jackson. was appointed Core
ceiver Il was bad enough 10 have re-
ceiver from upstate, but, despite my protest
and against the wishes Of the depositoTs.
we have had an upstate counsel, Dolson, a
Jackson deputy. Of course. foisted upon US Mt
Jackson IS supposed 10 represent the depositors
OF the bank. but he never uttered word or
r7rotes- against AIr Easbrouck handing over q
contract 10 DoIsou for $4,000 for the latter's
services. got only snap notice Of day
about This fat contract. and Attorney General
jackson got no more, although according 10 law
he should have had eight days Yet he has no
-5rotest- So far as the Brooklyn Bank goes. Nj
Iackson's conduct certainly demands inyestiga-
kOur