Evening journal., 1920-09-02
lined his IDEAS on such measure as

4 ftAo AN@01 VA e1AAA a AA~ASbAR Nl
1 follows:
ITO my mind this proposed act
should incorporate all Of the desirable
provisions of our present law and any
additions that might be thought de-
sirable, and TO be enacted into one
complete and well rounded bank act.
With your permission I will touch
briefly upon some Of the main points
which ] have included in this tenta-
tive draft
Il. An entirely new law providing
for the taxing of banks, as 1t Is con-
ceded that our present law cannot be
enforced against national banks
2; Providing for the examination
or the trust departments OF national
banks and fixing the charge therefor.
3. Requiring a director 10 own at
least $500 par value Of stock.
"A. Prohibiting a bank from own
ing or loaning upon shares OF its own
capital stock as collateral.
70. Prohibiting over certification.
g. Providing for the appraisement
OF doubtful assets.
z. Modifying the present law limit
ing loans to 10 per cent. to any indi-
Nidual. firm or corporation, etc.
'S. Determining the amount OF re-
serve to be kept by savings banks and
against savings deposits OF commercial
banks.
-. Determining the status Of saw
ings deposits
40. Providing for the filing OF a
copy of all bank charters In the bank
commissioners office, and providing
for the issuing by the bank commits
sioner a certificate Of authority before
new bank may commence business.
III. Prohibiting a bank from deal
ing in stocks and bonds.
"t2. Limiting the amount Of money
bank may borrow.
Il would suggest that your COM
mlttee secure the services of the best
attorney in the State to the end that
we might get a masterpiece of bank
LEGISLATION; something that we will be
proud TO send out over the country
in response to the many requests that
receive for a copy Of our banking
laws"
Rossell Deplores State Deficit.
President Rossell in his annual re-
port congratulated bhe association
heartily on its achievements; declared
the association had kept TO the fore
the great questions of education, re-
form in State government; brought
the farmer and banker into more inti-
mate relationship, and encouraged
thrift and savings.
1T is lamentable that our State"
said Mr.. Rossell, with its very large
income, should show a deficit at the
end OF any fiscal year But it apnears
by recent report that though there
was paid into the Stale treasury for
1919, Si,So0,774, we managed to expend
si,937 ,64s. and closed the year with a
deficit of SS6,S74, The taxpayers are
x.,ida oxsyaiya N axiicfipo cnndifionc and
concentrated effort will be made to
bring about the radical change that
is absolutely necessary. The report
OF the excellent work done by the
State Survey Commission, will point
the way"
The executive committee reported
favorably on several amendments to
the bylaws and construction Of the
association, which will be submitted
for final action at this meeting. The
committee on education recommended
support by the bankers of the Chair
Of Economies and Business Admiais-
trati0n at Delaware College.
At o'clock this evening a banquet
will be served in the Hotel Belhaven.
after which a final business meeting
and election Of officers will be held.
Among the speakers tonight will be
United States Senator l.. Heisler Ball,
George " Norris. Governor OF the
Federal Reserve Bank, Philadelphia; I;
Thomas f. Bayard, Of Wilmington;
William p. White, chairman Of the
Delaware State Survey Commission I;
Harry B. Salter. Trenton, chief audi
tor OF New Jersey; Arthur " Moron,
vice-president Of the Pennsylvania
Company, Philadelphia, and David
Barry, president of the Pennsylvania
Ba1kers' Association.