New-York tribune., 1909-03-12
NO NEW BANKING LAWS
CLARK WILLI4MS'S TALK.
Tells Group I Members Also Of Some
Improper Competition.

The members of Group of the Ne" 1oiN
State Bankers Association. accompanied III iiaIy @
cases by their wives, dined at the MURRAY -
Hotel last night, and listened to a speech OS
Williams in which the State Superintendent OF
Banking announced that there was to De no DaiiN
ing legislation at Albany this year. except iol
few changes in the laws passed last year the
necessity for which has been shown by experience
II 1. Crandall. chairman of the group "ho "9
toa astmaster said that about all he had 70 90 as
he saw his duty to introduce the sps
sit down So he introduced MT. "liia"i''
principal speaker Of the evening theFeoS tl -
all precedents for at most dinners ue
speaker is reserved until the end Oh 'ie Pi0
gramme. In, ;. o
Mr. Williams began by saying tha'' VIM VIM ~ ~ +be
no part of his duty to make Susses'loii' -.
association he would like TO suggest tha' 90 80
e,rouns follow, the example of No. ana lhNite '"'
women to their dinners He then touched on 'iie
panicky conditions at the time OF ms -
ment and said that the restoration OF Pu'"o ~
fdence was reflected in the present ,ooaI
shown by the greatly lncreaSeu ''
banks He continued: "a.
Inst punishment for those using corporate t tLes'
for personal gain has had us eneCT neCTertTatfsm and
material growth in respect for law ahele etr ma OF
been greater on soiTency There return of
condition OF banking quality rather man a H.
quantity and we seem to be aWaKenl.s e,s ~ " -
zation that a deposit IS still a LIABILITY .. aor IN
We shall not fortanaiey we feei that we know
when enough, and aSiGe . LIolit ny Iegisla-
few min
none Of the constructive legislation that was paSe'
last year shall be borne GOWN
NJ Williams told Of the adoption of legislation
akin 70 that Of New York by other states anu
voiced his belief in its excellence Put ne sln,
honesty was necessary in addition to eniorCeiii
of laws and no legislation could provide 'la.
Mr.. williams expressed his appreciation OF parry
organization telling Of the work done oH ''
ers at Albany in helping the passage OF 'dSt -,
1o,-s after they had decided TO forward theii
passage, and said:
arcessiVe interest on demand deposits l deem ed II
a great offence economic prlnciples sn11retitfon
eSI,,1,y .bink II IS due improper CoHlpeuSi
~ 10 sion nv state and national banks, anu -!
trust companies the fair field OF SAVINGS 70
Ial[e rnyseIf unpopular by doing-that your IN
terest departments will some day cause YOU So
frust the people Of Long Island will be reeYea
from The bank promoter. believe him to pc a
5o-os eler1enf ! am proud Of last year rec
ord when only savings Dahk no ~ u a,,tbor-
bd hai,ave In proper banking facilities. but not
in overbanking. particularly In snlalI co'i'ii'
Mr. Williams went or to speak OF the necessity
for cooperation among the banking inst''utoLl' '
~ the citv. dwelling on the fact that trust COM
oioe uyare now compelled TO carry cash reserve
otbar sneakers were the Rev. DIT Nehemiah
Rovnton. F E I.yford and Edgar Mcdonald
Mr. I,->ord the vice-president Of the association
took exception TO the remark made py MI "
Jams that high banking rates were wrong M
are governed by the prosperity Of locality every
.b,no fs in proportion" he said. The western
banks are paying higher rates because oI INC
greater demand for money He said the oeNeioP-
ment of the newer sections would be S'ul''eN ~
any such law. -.
DIR Boynton told of the false conception mar
many people had Of bankers and minister's Al
the nresent time New York is full OF hnaiCle's
working in the noulest purposes and IN the most
benefcent spirit he said