The citizen. (Frederick City, Md.) 1895-1923, 1911-08-04
Comptroller of the Currency
Issues New Order.

Comptroller of the Currency, Murray,
has notified the national banks of the
country to hold directors meetings at
least once month, to maintain discount
and examining Committees and to adopt
permanent system of loans and DIS
counts. Mr. Murray makes it clear in
his letter received by all of the national
bank presidents recently that if his order
is not complied with, ne will investigate
the various financial institutions at least
four times year
Comptroller Murray also notified the
bank examiners that they must send in
henceforth with their reports of examina-
tons certificate signed by themselves.
He further stated that he desired to be
Immediately notified if any particular
! board of directors failed to hold meet
/ ing or otherwise furnish evidence of the
| lack of personal interest.
The notice sent out by Comptroller
Murray to the examiner says, in part:
Hereafter you will please send in
with your reports of examinations GER
/ tifcate signed by you covering the fol-
| lowing points: That the bank is, in your
judgment, absolutely solvent; that the
! bylaws are satisfactory and are also
| -,
that the books show its real condition
and are SO kept that the examiner can
readily make a thorough examination
of the bank. If you can not make this
certificate unqualified, then you will ad-
wise the officers and directors that the
bank will not be passed by you unless
the conditions which make it impossible
for you to make such certificate are REM
eded.
Acting upon the advice Of the Comp
troller of the Currency and Frederick
E. Farnsworth, general Secretary of the
American Bankers Association, it is
believed that the Baltimore Clearing
1, House Association will shortly appoint
an independent bank examner-an in
novation recently started with success
by IS of the large cities of the country.
, THE Clearing House Association at a
meeting several days ago, placed this
and number Of other important ques-
tons in the hands of the Executive Com
mittee for consideration. In an address
before the Maryland Bankers Conven'
ton at Deer Park several weeks ago he
recommended that an effort be made by
the Baltimore Clearing House Associa
ton to have the trust companies OF this
city affiliate as members OF the organlza
ton.
at is believed that the Executive Com
mittee will also act favorably on thi:
matter. An effort is being made to
strengthen the clearing house and within
the next few weeks several importan
changes will be made in the constitution
and the bylaws of this institution. 1t i:
probable that an entire new constitution
will be adopted.
THAT the central bank plan recent,
approved by the Maryland Bankers
Association is fast gaining converts il
evident from the numerous favorable
expressions being heard. Since the re
cent discourse on the subject at the con
vention by DIR. A. Plat Andrews, ass s..
ant secretary of the treasury, many o
the bankers have made deep study o
the subject. An apparently unanimous
opinion seems to prevail that the pro
posed reserve association is the logica
outcome Of the present financial status
the country and will be without doubt,
in the years TO come, the panacea of al
the ills of the nation"