Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-09-12
MEET At TREASURY
Supervisors of State Banks
Holding Convention.
ADDRESS By Mr.. MURRAY
Controller Of Currency Praises Work
Of the Association.
SESSION TO LAST THREE DAYS
Points Of Interest About City Will
Be Visited-Trip to Mount
Vernon.
ADDRESS BY Mr.. MURRAY
SESSION TO LAST THREE DAYS

National Association OF Supervisors OF
State Banks met today by courtesy Of
Controller Of the Currency Murray in
his office In the Treasury Department.
Among those present are the supervisors
or other representatives from a majority
OF the states in the country, including
the following:
Charles II. Noble. Connecticut: ]. d.
Downes, Maryland: ]. B. Galarneault,
Minnesota; c. E. Kumpe. Montana: E.
Royse. Nebraska; F. E. Roberts, Iowa !;
]. 0. Otis. Massachusetts,: L. l.. Bacchus,
Illinois; J. c. Motter. Maryland; Joseph
A. Fowler. Rhode Island; r. NJ. Scam
mon. New Hampshire; 0. H. Cheney. New
York; F. E Baxter, Ohio; w. p. Good
win, Rhode Island: G.. l.. Wilson, South
Carolina; John L. Jones, South Dakota;
{. 8. Tingey. Utah; c. A. GLACIER, Utah;
J. l. Mohundro. Washington; s. v. Mat
thews. West Virginia: M. c. Bergh, Wis
consin; NJ. w. Hutchins, New York: w.
Mississippi; Clark Williams. New York;
JEFFERSON REYNOLDS. New Mexico; b. j.
Rhame. South Carolina; Charles r.
Dodge. Ohio: c. A. Peple. Virginia
The members Of the association super
wise something like 1900 banks, with
capital stocks amounting to x922 900. 900
and deposits Of $9.JOO.O0O,O0O The amount
Of money supervised by them is many
millions In excess Of that under the con-
troller OF the currency.
Omcers Of Association.
The omcers OF the association are:
President, Clark Williams superintendent
of banks, New York: first vice president,
J. NJ. Appel. Illinois: second vice presi-
dent, H. NJ. Zimmerman. Michigan; third
vice president. j. L. Mohundro, Washing
ton; secretary and treasurer. Giles l..
Wilson. South Carolina; chairman OF the
executive committee. John L. Jones,
South Dakota.
The principal business today, after
the convention had been called togeth-
er by President Williams was an adj
dress by Lawrence o. Murray, control
Ter of the currency. Mr.: Murray met
with the association in Chicago a year
ago. He referred to the cooperation
that has been going on between super
visors OF state banks and the officers
OF the national banking system Of the
country. He said that a broader field
had developed for cooperation between
the two great forces controlling the
banking systems Of the country. He
alluded to the cooperation between
federal and state authorities before a
national bank is chartered. He said
that applications for creation of ma
tional banks are now referred not only
to national bank examiners in the
proper district, but to state supervis-
ors OF banks. He said that these in
vestigations are carried SO far that IL
there is evidence Of insufficient bust
ness for a national bank in a commun-
ity charter Is refused. This co-opera-
istsnce years ago. u All osiciais, s na-
tiOnl or state, and the country, gen
orally. he stated. are interested in
strong banks. He appreciated the con-
state banks are giving when appli-
cations are referred to them.
Charters Refused.
by the advice you have given me-"
he said. Il have refused to charter ma
tional banks where state banks already
served the community well and efficiently
and where another bank would irrepar-
ably injure the existing ones, and I also
have been able to keep out Of the ma
tionai banking system men who organized
state banks and practically ruined them
We have no other way Of keeping out
bank wreckers thar by this mutual CO.
operation.
Elm the last eighteen months 1OS appli-
cations for national bank charters nave
been rejected. Every one of these 1OS
reflections was made for one or more of
the following reasons:
"First-Ths men who applied were
shown to have been either incompetent
or dishonest. either in state or national
banks. or otherwise.
"Second-There was not sufficient busi-
ness to justify the organization of a
national bank In the community; or the
banks already there were serving the
business interests well. and an additional
bank thrown into the banking situation
would have brought about ruinous COM
petition and made weak banks where
they were already fairly strong, or
"Third-The applicants were we'll known
spectators, or were men without stand
ing, financial or otherwise, in the COM
munity.