Every evening, Wilmington daily commercial., 1918-07-31
SUGGEST CHANGES
IN BANKING LAWS
State Financiers Prepare Program
For Consideration OF
Colleagues.

A committee of the State Bankers
Association met nj the Wilmington trust
Company Yesterday. and arranged
tentative program, To improve Delaware
banking laws 80,
Tins new proposal. If finally adopted
will consolidate all cXisting statutes re'''.
ing to banks. trust companies. safe dtio.,'s -,
companies AMI loan associations III -
comprrhcnSivc act. omttlng, ho"cs.',
st,ti,tcs ar parts Cf statutes that are no.
now operative. and adding provisions
follows -, dcpart-
~ Creating State banking oJi inver
mcnt to have supervision ana 'Um.1,.,oratcd
III Statc institutions rs above c1'ii,ic
- ~ C.aatine, The office Of state pa''N''E
,,,,s.,ancr such commissioner '" nay
-, ~ and administer the H'at' ''@''"-
80 3c,ort,pent. the person apl'''''r !"
'''t ~, tn br a qualified bahhcr 81 al
Ioost Gvr vcnrs practlciu
10, l.,nfcrring upon the state banking
n...e,nrcr all the powers and pre-
,t,,,,,r for him NIL the duties now cNcr-
',s'd and performed by the insurance
commissioners with respect 10 banks
,rust companies, Sai' u'p"S', F"itiPa'ioT
~ III Ila, associations. and such additional
s.,.ars ~ and duties as may bc deemed nd
p,bl. or may be found necessary in the
al Limiting the exercise of charter
r:chts and privileges Of banks. trust
companies, sage deposit companies and
loan associations 10 within the state and
specifically prohibiting the exercise ot
these rights and privileges without the
State, notwithstanding PERMISSION so TO do
may be granted bv any other State or hv
sny territory. district. colony OF posses
non of the United States
(b) Requiring banks and trust companies
booming members of the Federal Reserve
System to comply IN hll respects with
State laws except rs to reserves which
shall tie regulated and maintained IN
accordance with the provisions of the
Federal Reserve Act
lG) Such other provisions rs may he
suggested by the banking laws of other
States ss would be deemed Of Importance
and value TO the banking institutions OF
Delaware.
The prnporssal Will lrc acnt TO All tho State
banks with the request that they make
such corrections therein or additions
thsscto a. thev may deem proper and NJ
t,rr11 the proposals. TO the committee at
An esriv date for further consideration.
The committee will mcet NJ Dover
On August % for thc purposr Of complct-
ing its plsns for the Improvement Of our
banking Ay7ztem and will make It's report
to the antsuaI morting Of the Delaware
Bankers Association on September ,,
which viii probably he hold at Dover
IL ia undervtood that q hill will he pr
ps,zrad under the direction Of tho COMMITTEE
an State Insurance Commrssioncr VII
eoneto he submitted at the next session
of the legislature,
Members Of the committee are Ezekiel
Cooper, Of the Farmers Rank Of Wi
mlnCor. chairman John ) RoSecii.
of the Security Trust and Safe DEPOSIT
COMPANY. William & TAYLOR Of the
Delaware Trust ampanv. Henry RidgciN,
ii the Farmers BANK of Dover and
hat'o~ II Naull II the Sussex Trust
nd ~4fr Dcpo-t Company. of lrvCs
iu .adrtiou 10 tic members of the
committee 81 the meeting YESTERDAY
hcnf~ Il Wilson State insurance com
missioner attended