The Washington times., 1927-01-27
\. ]. BANK PLAN
INTERESTS
BY RICHARD HATTON

interest Ia an effort now being
made In the State Of New Jersey to
amend It's banking laws to correct
certain present defects and to fur
Their safeguard the interests Of de-
positors. Nine measures to this
end have been endorsed by the leg
1slative committee Of the New Jer-
sey Bankers Association and, it is
stated. that practically all banking
interests in the State, including Mud
Archer, approve the bills.
according to the Wall Street
Journal:
Zone of the bills of the group
appeals strongly to the various
women organizations and is offered
as an amendment to the law relat.
ing to property Of married women
and gives the wife equal rights to
enter into contract and transact
business with banking house as
though she were unmarried. The
purpose of the bill is to permit a
married woman to assume response
bility for contracts into which he
enters. Many married men desiring
credit at a bank and not wanting
to obligate themselves by asking
others to, indorse notes could often
obtain credit with the wife's en-
dorsement. As a wife cannot now
be held for such Endorsement the
situation is embarrassing for bor-
rover.
"BnI No. . relates to savings
banks. the object Of the measure
being to enable savings banks to
accept deposits to an amount rea'
sonably related to their resources.
The existing restrictions, to which
other banks and trust companies
are not subject, is found in some
cases to be detrimental to their In
terests and inconvenient to their
depositors.
"Bill No. 8, an amendment to the
Fiduciary act, Is intended further
TO strengthen and safeguard this
law concerning liability for partl-
cipation in breaches Of fducary OBJ
legations. This measure, which. Is
known as the Uniform Fiduciary
bill, has been recommended by the
American Bankers Association. The
general purpose of the act is to
facilitate the performance by f1du-
Charles, Of their obligations, rather
than to favor. any particular class
OF persons dealing with fiduciaries.
''BiIl No. an amendment to the
act concerning trust companies, Is
to permit trust companies to have
shares of capital stock OF par
value to be determined by the cor
poration in its certificate OF incor-
poraton1 of an amendment thereon;
that is, of par value more or less
than $100 which Is the requirement
of the present law.
%BiIl No. concerns banks and
trust companies authorized to DO q
fiduciary business. The bill would
pernnt State banks and trust COM
panies to deposit in their own in.
stitutions moneys held in trust under
the same conditions as such privilege
Is now given to national banks.
"Bills Nos. s, Z. 8, and 8 amend
the law enacted at the 1925 session
Of the legislature permitting the
establishment Of branch banks, by
eliminating the section which pro-
hibits the branch banks until such
time as Congress passes the McFad-
den bill. The state Bankers Asso-
citation wants the 1925 laws effec-
tive at once, instead of waiting until
Congress passes the Mctadden Dill.
In view Of the present "crisis" in
China it is Of interest to note.
according to the Industrial Digest.
that ''the Far East does not enter
into the American loan market to
n sufficient extent to give any par
ticlllar Significance to changes In
volume from year to year. japan.
csc interests have close financial
relations with American institutions
and; offerings from that country
appear occasionally. particularly
those OF Japanese electric compan.
les. Last year the city Of Yoke.
hama came into this market for
$19.74O, 900 to complete the work OF
reconstruction made necessary by
the earthquake Of 1928. Two Jap.
anese electric companies borrowed
$4,000, 900 and an American tobacco
company operating in. the East
Indies placed securities to the value
Of q little more than million dol
lars. Australia was not represented
IN thea1926 flotations."
The statement Of the Chesapeake
and Potomac Telephone Company's
operations for the month of Decem-
her. 1926, to the Public Utilities
Commission shows telephone operat-
ing revenues Of $628,S34, an in
crease of $21,218 compared with
November, and telephone operating
expenses of $429,545, an increase
Of S24,929 compared with November.
Taxes for the month of December
were $41, 507. a decrease of $1,000
compared with November, and
other miscellaneous expenses
amounted to $10,912, an increase OF
S3.59f compared with November,
leaving net income Of $146,S70,
which is an increase Of $1,S9S COM
pared with November.
The statement also shows that
new plant and equipment added for
the full year of 1925, amounted to
S3,S57.73, while retirements for the
same period amounted to $1,1SS,.
395.5s, making the net additions to
plant for the full year $2,72S,676.16'
TREASURY STATEMENT
The daily statement Of the United
States Treasury shows:
Income to date this year, $2,1T2.-
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