Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1910-01-20
Fees for Examinations.


entitled.
Fees for Examinations.
Discussing the question of bank ey-
animation and the payment of fees
therefor the committee points out
that the largest bank in the state
with capital of $1,OOO,OOO pays the
same for an examination fee that is
paid by bank with capital stock
of $4,000. The $4,000 bank can be
examined by one man in about two
days, while it takes four men about
a week to examine the largest bank
in the state. To examine the $4,000
banks costs the state about $40, while
the expense to the state for examin-
ing the $1,000,000 bank is about two
hundred and forty dollars.
Segregation of Funds.
Upon the subject of segregation of
savings from commercial deposits the
committee presents a proposal and
The plan proposed provides that ev-
cry institution holding itself out as
receiving savings deposits or which
maintains savings department, must
provide and establish a separate ana
distinct department for the accOmmo-
datiOn of the funds of such deposi-
tors, all the assets of this department
to be invested only in the highest
class of securities, such as real es-
tate mortgages, and bonds of a ma
tional, state or municipal govern
ment. Such assets to be held at all
times separate and apart from the
other assets of the bank and in the
time of trouble, or Of liquidation, the
savings depositor is given a first lien
upon the assets of this savings de-
partment.
This law, when passed, gives to the
wage Garner and persons of small
means as absolute safety for the safe
return of his money deposited IN a
bank as can be given outside of an
absolute guaranty. Such legislation
will meet the demands of this class or
individuals for a safe repository for
their funds, materially lessening the
demand for postal savings banks, with
the added advantage of keeping the
accumulations in the respective COM
munities where they are necessary
for the commercial life OF that com
The committee is heartily in accord |
with Bank Commissioner Bergh upon !
the question of uniform bank book
keeping, so far as his position is re-
fected in his report to the governor
for 1908
While we have not attempted to
prescribe a complete system of book |
keeping which banks shall employ, |
we are firmly convinced that all books |
Of original entry should be bound in |
a form to make a permanent record. |
I'VE have suggested an amendment |
to the law relating to the investment |
Of funds Of mutual savings banks. We |
think funds Of this character should |
not be invested in personal securities,
and under the present law, 40 per
cent. OF such funds may be so invest
ed. The bill proposed limits such
investments to national, state and mu-
nicipal bonds We have deemed this
matter important in view of the fact
that We propose segregation Of depos-
its so that if such segregation shall
be made there will be a large percent
age of deposits in the state that
should be treated distinctly as savings
deposits which should be protected in
every possible manner"
The report viii be unanimously
signed by the committee, Senators
Walter c. Owen, chairman. H C. Mar
in and James A. Wright and Assem-
blynen L. c.. Whittet, o. A. CrowelI,
Plat Whitman and William Reader.