BANK n m reform promises premises to lo be be tho the most important topic of 01 otio tl t o cw York Vork ork legislature now in session on It II Is Js said sali sAId that tho the annual report of the he new lie banking superintendent Clark Williams just submitted to the tha leIS lature has excited exalted more continent comment than han even eE nth the message of ot Governor OO lushes hughes clI The first drat recommendation in inthe Inthe the report Is That the th Superintendent of f Banks bo be given authority to direct the dIe dis discontinuance continuance of objectionable practices on the part of ot institutions under his supervision lon with on an opportunity to the Ilia institution subjected to 0 criticism to show cause causo why Vh the practices com corn complained of ot should not be discontinued and anti in the case casa of a failure allure eo so to 10 show cause ause to the satisfaction of the that he should either make public the facts acts In the premises or assume charge chare of the institution on the tho ground of Hs ts being in n an on unsafe c cand and unsound condition If it such be bethe the tho case This would give the superintendent the tho same authority over trust corn com companies panics building and loan associations mortgage fl companies and similar ciul corporations that he be now navy nat has over banks and individual bankers Other recommendations a lUC ate e That tho the present system of ot extent extravagant receiverships for or moneyed got cor or be ended ende l That links b l and Individual bankers In n pities CItIes ui u more mON than lon have on hand at all ali times S 25 15 5 per cent vent of the aggregate ot of their deposits That l nt it tt be made a I misdemeanor for tor any or of a II trust lf com corn to pay AY or 01 agree urco to pay ny a n nto of deposit in advance of It the time fixed d at Ut date of Issuance That rhal the Ule maximum of any an secured loan on n to a 0 single interest shall be bo b ii ij i 1 of at 40 per er cent of It the capital capitalor or of or n a bank or trust company That io surround 8 n or underwritten loans That no underwritten ji shall extend over n II period of more than Ihan one your year yourIn our In relation to what has been boon called the pyramid banking of certain companies the following modification it or the law aw In is desIred n it law IHU he enacted prohibiting any nil corporation ct t to the banking last from taskIng loans loana upon tl oll the tho k qt Of any other moneyed which loans in the M ahI ahall to 10 p pet r 1 cent of the par nor value valli of or th till the stock alOck of or such other moneyed On t tit U titi biM t point Uw the OX that the Ih Interdependence of fi n financial InstitutIons w UI ODD rw of ot 1111 tha thu causal tot toi 01 the Uie s recently co pg It IL WAS found thai by It the tha liy by h of ot the share ot of cinch of qt one on with another control oon rol wu wits u held bald of each I by th the UM use of practically lh th the saute bunking Title Thill contributed o tie at QI lx c 4 lit ot t the l untie w hb corn came to 0 light lIht t l th t the thu UI of ot tho the I of uv r l of 01 these have Ih l o institution units tion v Willi s to 10 un Sn use uso or ox their r lw tor 11 Ui tb taOs lilli of those holding such Un III points ho hp report in is equally and loans on 00 run real rotate Hhall bo be bort rt restricted to In n S 16 pw let win Jut of lie Uti iut at K it lG lt In of nam titan than 10 und Iud to 10 0 per funt in lit of Ut IMS IWi population nil 1111 banks and trum trull be b to record till all and to 10 That Thol loans louns upon i o d bt t atI h hen canine directorship That n coli le or of blk banks bo be Obliterated and ld directors thereof be compelled to directs n ft t Ml full rUI report at Il each Cacti monthly m meeting tf f tAtt board bon rei to 10 bo ho made by b bank detailing all alli soles of ot SC c e cUille and ot of nil 11 Ii discounts and loans loan 1011 made or paid Mince lne the last regular meeting of ot the Iho board bourd bar shOwing eh tho the eel col collateral 1 lateral to lo the tle loal loans lonn so 10 made mi as 1 of Ut f Ih the date dle of ot the meeting m at which such uch statement Bt In III i submitted That officer mers and nel rJ or d ahl be bl b prohibited le from making makinI nn and maintaining deK deposits with an n under standIng that thal they th shiI be entitled to 0 J any lonn lon or advance or other favor r That every ev t bank or trust company compan or or other institution opening n a branch Imi 1 omen offie shall be b required u o subscribe addition for tor CILI branch every el bank end and trust trus company hOW having ta V Ing branches ahU be e to Increase Its I nl or reduce rue iii ln l o ot of branches branche such provision That no bank or tr trus te company shall ts es a brunch b log hg written consent cons nt Ot the Super Superintendent o nn j i That banks J be b given glen the right tu to hypothecate securities under by y the state tte That trustees trustees of f savings banks W sworn under tindera 1 a state oath to perform theIr duties on the occasion of ot p e etch h election eleton or Ol That Tha statutory provision bo be made mado for or the valuation of of savings banks bk and the capItal ca of trust companies paper profits and d paper losses s g That tha 1 n ft wt we weekly l ly tato Ul meat ment ot o tho UIO condition of df r all financial Institutions similar collIr to the he one ole ro pub published tion ton tonIs 11 by the tho Clearing House HOs Association It is a n sweeping program or of reform I that is likely 1 to T be e extended into alt all 1 the other stats states If It the laws law pass and andare andare are attended tended w with Ith success In NOw X w York banks bauks and building societies Institutions in particular are philanthropic I ns whose function Is U mainly to care cage CIC for tho the savings of at the provident poor They should be bo safeguarded by b every device approved d by b experience and based upon sound economics s