The Washington herald., 1910-10-24
ORGANIZATION OF
BUREAU COMPLETE
Will Keep Firms from Using
Undue Credit.
BANK SOLvENCY PROTECTED
Comptroller Murray Holds Confer
ence with Bank Examiners-New
Organization VIII Not Interfere
with Credit Ageneies-TO Extend
Efficiency of Treasury Officials.

Efficiency of Treasury Officials.
The committee Of national bank exam
liners appointed by the Comptroller OF
| the Currency 10 formulate a plan where
| by the information sent In 10 the Comp
| trOlleTs Office annually by the district
! chairmen could best be utilized by all the
examiners whenever they considered II
necessary met In Washington Wednes-
day OF last week and laid the foundation
for a tentative system OF collecting credit
information for the benefit OF the exam
iners, the salient feature efs which is the
compilation and checking up OF the com
mitments Of large local and extended
| borrowers. Every examiner In the sys-
tenn hereafter will be directed TO keep
/ for mis- own use a complete file OF all
large and extended borrowers IN his dis
trict. from which lists will be sent 10 the
office OF the Comptroller for summarize
ing.
II was recommended that, in addition
10 the usual annual meeting Of the ex-
aminers now held in each OF the eleven
districts OF the country during the month
| OF July. the Comptroller also require reg
ular meetings OF the several district
/ chaiTmen, To be held at some central
point during the early part OF each year
1 for the purpose OF consultation regarding
/ the conditions affecting their various dis
! tricts and 10 exchange information as 10
/ the credit rating and responsibility OF
/ those borrowers whose names might be
/ In no 90 Il
general districts and regarding whom it
might be deemed advisable 10 compare
/ notes.
VIII Protect Bankers.
/ Il is confidently expected that 1t will
make 1t extremely hazardous for the dis
I honest individual, firm. or corporation
/ seeking to borrow from national banks
/ The knowledge that hundred or more
men are keeping d constant check on
/ their borrowings Will make il very diff
| fcult 10 conceal their true condition.
| In suggesting a system for the dissem-
/ ination OF credit information between the
/ Comptroller's Office and examiners. il IS
not contemplated that comprehensive
plan which Will guarantee the assem-
bling Of complete credit information COW
ering commitments in all the banks in
the United States is practical at this
time. but that the machinery available
by the Comptroller shall be put 70 work
( 10 gather such credit information as can
De obtained from national banks State
banks and trust companies located IN
States where there Is already co-opera-
ton between the Federal and State
banking officials. as in the State OF New
York.
In COllating this credit Information. the
personal and intimate relationship be
tween the banks and the borrower is not
10 be interfered with 10 the slightest
extent. The name of ethe bank Wiiere q
line OF credit is found OF an extended
borrower Is not 10 be diyulged by the ex-
aminers IN these special reports, the to-
tai only Of their loans being listed.
Information COnhde atIaI.
The Comptroller wishes it distinctly I'M
derstood that these lists are as entirely
confidential between him and the ex-
amlners as are their reports Of exam
nations, and that under no circum-
stances will any Information embraced
therein be given out by him.
In order 20 carry out this work ef-
fectiVely the committee has recommend /
cd a somewhat radical Encouragement OF
I
has been divided with the object Of es-
tablishing districts covering we'll defined
commercial areas or banking zones. the
headquarters in each district To- be To-
Gated in "a reserve city %such cities 10 be
. designated on account OF their impor-
lance as banking centers. Each of these
districts Is IN charge Of an examiner ap-
pointed by the Comptroller as chairman,
IL j. contemplated that I'm compiling
credit information the examiners In the
field shall report not only 10 Washing
ton, but 10 each district headquarters,
whore there Is in operation a credit file
accessible 10 examiners i'm that district.
The following is the new arrangement
OF districts as proposed by the commit
tee:
District No. ALFRED Ever. chairman
Headquarters at Boston. Mass District
TO comprise the New England States
District No. 2-Charles \. Hanna, chair
man. Headquarters at New York. y. Y.
District 10 comprise New York City and
state. and Northern New Jersey. This
COmteinplates a transfer of Southern New
Jersey and Delaware 10 District No. 3.
with headquarters at Philadelphia, Pa.
District No. 3-FTank L. Norris, chair
man. Headquarters at Philadelphia, Pa.
District 10 comprise Philadelphia. Eastern
Pennsylvania, Maryland, and the District
of Columbia. to which should be added
Southern New Jersey and Delaware, elm
mating from this district Virginia and
North Carolina. which States should be
added to "A new district with headquarters
at Richmond. Va, TO comprise Southern
States embracing Virginia, North Caro-
lima, South Carolina, Georgia, and Florida
District No 4-(new district) No chair
man named. Headquarters at Richmond,
Va. District to comprise Virginia. North
Carolina, South Carolina. Georgia, and
Florida
District No. 5-H a. Williams, chair
man. Headquarters at Pittsburg, Pa.
District to comprise Pittsburg. Western
Pennsylvania, West Virginia. Cleveland
Northern and Southeastern Ohio.
District No. 6-Percy H. Johnston.
chairman, Headquarters at Cincinnati.
Ohio. District 10 comprise the States OF
Kentucky and Tennessee. eliminating
from the district South Carolina. Georgia
Florida, Alabama, Mississippi. and Louis
lana, and adding to it Southwestern Ohio /
and Southern Indiana.
District No. new districO-NO chair |
man named Headquarters at New Or
leans, Ia. District to comprise the States
Of Louisiana, Mississippi, and Alabama
District Ne. Sc. F. Rorebeck. chair
man. Headquarters at Chicago, ILL., Dis
trict TO comprise Chicago. Michigan. /
Northern Indiana, Northern Illinois, Iowa,
Wisconsin, Minnesota. North Dakota, !
South Dakota, and Nebraska. This ar
rangement eliminates entirely the pres
ent district No. :, with headquarters at
Minneapolis. Mimi, and contemplates
adding Southern Illinois 10 the st. Louis
district and Southern Indiana to the Gin
cinnati district.
Districts Rearranged