New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-10-23
NEW BANK BUREAU PLANNED
To Supervise Institutions Whose
Conditions Cause Alarm.

Albany. oct Prevention of r-ore.
rather than cure after trouble coues' was
announced by Superintendent George G
Van Tuvl. ir. OF the State Banking De.
partment. when he assumed Office. as
motto Of his administration In pursuanes
Of his desire 70 improve the work OK his
department the Superintendent has pro-
vided for the establishment I'm the State
Banking Department II n new bureau wnica
shall have direct supervision over the az
fairs Of the occasional bank whose cOnf-
ton may be a cause for concern. one q,
the chief officials Of the Banking Depart.
ment will he designated by the superin'
tendent as the head OF this new bureau,
and he will be a man of many years FL
perience IN banking lines. Already 9r-'an
Tuyl has had occasion TO put his plan into
practice. and the result was the clearing
mp with great success Of a Threatening
situation I'm c1e sna. bank upstate. Th'
bank which was in dangerous condiuoa
when taken in hand. Is now running alOng
smoothly. 10 the great benefit Of the con-
munity whore IL Is situated
In speaking Of his new department Super.
intendent Van Tuyl YESTERDAY asnounci
that the Banking Department at al tine
was in touch with the institutions unfS
its care through the excellent work 81 -
corps Of trained bank examiners When
report is received Of bank falling beaii
through the inefficiency Of IT'S officers. ssr
orally lax management by directors. Ia
business or possible dishonesty. repre-
sentative Of the new bureau DOB the Banning
Department will be- sent Immediately 70 ar
sumo charge. The Banking Department o.
fetal Will work. many times. unknown
the customers Of the institution. ana y
intended that backed by the fu.l authorny
conferred on the State Superintendent "
Banks by law. the department r,pre'fn'''
tive shall assume temporarily tho sct"
direction OK the affairs Of tIe institution
10 has been found. said tHa Superinien'.
ent in further explanation off tho pfopo~N
new bureau. that whore am institutions
business had been unsafe and the chdia0"
of the management would not warrant ~
uectations of future success. such insu.<
tons had been restored hy such 'reatne
I'm some instances arrangements lave neen
made whereby tho hospital patient N@
consolidated with strong bank IN ~
same ueighborhood. Superintendent N@
Tuyl saws ne believes his department 'Al
do a serious and helpful work along 'D
now lines in this proposed bureau. ana ti'a-
while tine workings of tle bureau tor re
sons readily apparent viii he generally ~
known 10 the public. the result "Ii uie1-
much toward furtherius general CUISINES
stability. -,
other plans which superintendent ~
Tuvl has I'm mind for improving the "o..
oe tho Banking Department affect INC "
canizatiou of new banks. especially HN
caIities where there is no other banHin-
gtitution. Tho state Banking Depart''t.s
I'm the future is 10 Doe represented ail'-
from thc opening 81 tho now hanN' 'H'- :,
strlctfous may DO given 90 mezp''ien.
officers and directors. and that oper@'iV -.
may be- watched So as to start 'l ue .,y
stitutiou on "a safe course. thus piVf~s
guarding the carly official ACES o. tn' 20.
institution and its officers. it uN -
c.dure had been followed iu tHe pas' ~.
believed that many institutions tha' -.
been closed and uquidated, Ike the -.
nfo Trust Company or some of me X
lyp failed banks, would have been - %.
institutions to-day. enjoying the puu'' ~
hdencc.