The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1918-03-04

such H record h Indispensable 100
view of the impussihility 10 muk, the
! required number of examinations
yearly bccausc %: inadequate office
force and Insufficient appropriation.
| \ condensed report b. made after
each report of condition made ass
provided hy law calls made by telr-
I graph. and national banks are en-
courarod 30 mako reports tn the Of
flee ON hluukH special, prepared.
state banks reports are published SIM
-uliGu"nu-ly with those OF national
banks A primer ct the bank Hpt as
h applies To- bank directors and their
duties has been prepared. and Is
proving q y1luHhl" guide. ln tie
past fiscal year luE bank oNtmlug
lions were made. bur. owing 90 back
Of q sufficient force md money. SO
banks were passed w.ih hut one cX-
animation resulting ,u the ,o-, to the
state o. for. totaling 5000.
More Conservatism
Tho matter of chartcriur now state
banks. especially under present con
ditlons. haas been given serious study
by Mr. Van stone lie is exercising
carefully the duty given him 10y the
act amended section -, Ia make "a
thorough examination of each uppli-
| catiou for % bank charter. and fiNlng
on him the responsibility for appro-
val cor distpproyul before final ac-
| ton 10y the state corporation COM
mission. in which rests the chartcriuy
power. In reply to e question 10
....... H-.H. a.. H.. aN.f. M -
stone learned that the bankers APP
prove OF q policy of more rigid rN-
animation Of applications Mr. Van
/ Stone says
- have. therefore adhered 30 the
| practice ct approving applications.
| other things being IN accordance with
the bank act. iu AN cases whore the
bank cuuLt hc supported with safety
to it's dcpositors, ana. whore there
were existing banks. with safety Ca
the deposition. Of such existing banks.
During tho ycur lHlN. conditions zee
naming the same ls in l9l1 ! shall
be Inclined tu disapproyc application
Tor bank charters unless q real ncccs.
sity for new or enlarged banking Ia
c%iiti's is shown
J nc NNflNEt NhHl W fNNllIllHlAl'll
last wear was approximately Sl3 each
Tho cost is increasing from uatura.
cause. ana examinations and inycS.
legations IN lpl>, assuming that ther,
will nc an increase Of 20 per cent
In the number of banks. viii cos.
about $685.. n force aud a%pprupria
tious make pos ihlc W. examination
Of each bank this year. making me- al
lowunce for an increase len banks
the fees resulting 10 the state wpul,
total 5000.
iionm Tor improvement.
The present banking law of Nov
Mexico. designated within itself t
the bank act. h. SO much Of an im,
provoment upon former law hat n,
comparison can we'll hc made bu
there IL room FOR further improve
mcut I had the honor to read q pa
per before the last annual c%ouVcutio.
of the Ncw McNicu bankers nssocia
ito non the subject OF the New MeNic.
hank act That convention authorize
the appointment ~ a committee {
draw up an entirely new bank uc.
based upon b present ono. for sub
mission to the convention Of the aa
sociHtiun 10 Doe held in lg3N. IN
committee app'iutc' consists ,
Mcssrs. George T.. Clrick. Arthur
Baithel Arthur .liEuan. j W. Gun
ningham, Alex shipley. Sylvester Mn
abel Jerro NnFgard ard tho stat
bank examiner. cN-ofnciu
Changes Suggested In AVt.
The working acq%uHintlnce VIII
4 the bank act secured during the pas
sIyear suggested the desirability Of III