The midland journal. (Rising Sun, Md.) 1885-1947, 1909-08-20
WASHINGTON LETTER.


business details of their institution is dis
closed in report made to Comptroller of
the Currency Murray by the directors Of
national banks throughout the country.
Mr.. Murray has beeu doinaAa lot OF
housekeeping in his department since bis
appointment by President Roosevelt. He
is now after the directors of national
banks. There are $4,000 of them, and a
short time ago they were astonished to
receive letter from the Comptroller Of
the Currency asking them if they were
really directing.
The answers to the 2o questions in the
letters sent out disclosed some interesting
information. Only rs per cent. of TIE
national bank directors are familiar with
the conditions of their bank in all details
Four per cent. practically admitted that
they knew nothing of the state of the
banks with which they are connected
Loans were approved by directors in only
81 per cent. of all cases. The officers
had full control and used their own
Judgment as to loans in nearly one-hall
of the institutions. Eighty per cent. OF
the directors could not certify to
the genuineness of signatures on notes
discounted by the banks. Sixty per cent.
tacitly allowed officers to permit over
drafts. In only one-halfof the banks was
condition of the reserve regularly in
quired into by the directors.
The Comptroller has classified every
national bank in the United States.
Those whose directors admitted that they
were not familiar with the workings of
their institutions have been classed as
'bad" banks and will now be subjected
to four examinations each year, at which
times the attendance of all the directors
is necessary. The good" banks are ex-
amined in this manner only twice year.
As soon as the conditions in the "bad"
banks have been remedied to meet the
requirements of the Comptroller they are
taken off the "bad" list By pursuing
this method of hammering away at the
banks Mr.. Murray hopes to impress upon
every director in the country his personal
obligation to the bank with which he is
connected.
x*x
That great effort is to be made il
Wisconsin to prevent the return of Sena-
tor Robert M. LaFollette to the Senate is
the word that has reached Washington
from the Badger State in the last day or
two. Mutterings of this have been heard
for some time.
On the way from Washington to his
home in Marinette ''Uncle Ike" Stephen
son. La Follette's colleague, stopped over
in Milwaukee and held conferences with
some of the anti Toilette politicians. As
the outgrowth of these conferences, it is
said. the work of organizing to defeat La
Toilette has been begun. His term will
expire year from next March, and
the Senatorial primaries will be held
about year hence.
Senator Stephenson, though once the
friend of Senator La Toilette, is now
thoroughly against him and eager to-
compass his defeat. He is looked on as
the head of the stalwart, or anti-La Fol
lette movement. The man on whom
Senator Stephenson and his friend are re.
puted to have settled to run for the Senate
against La Toilette is Walter Alexander
of Wausau. He is millionaire lumber
man, like 'Uncle Ike"
The fight on La Toilette will afford a
spectacular struggle. He has acquired a
large aud active crop of enemies. who
are looking about for chance to do him
up politically. La Follette's friends de.
clare that various big interests over the
country that La Toilette has autagonized,
either as Governor of Wisconsin or as
Senator, will pour money into Wisconsin
to.defeat him. The supporters of the fiery
insurgent Senator say, furthermore, that
his opponents will have hard time beat.
ing him for the reason that his course in
the tariff struggle was popular in the
Badger State.
They admit that in recent years SEN
ator La Toilette has found in difficult, if
not impossible. to get elected to Office in
Wisconsin the men whose cause he
espoused.
''But just wait until Bob runs him.
SELF" is the way his adherents talk.
"They can't beat hiu."
x*#
Anticipating an Increased demand for
the American Red Cross christmas
stamps next winter, the American Ma
tional Red Cross, with headquarters in