| Show lTER PROTECTION FOR DEPOSITORS I IN T UTAH AH BANKS of State Urges Legislative Leg Leg- Provisions for Ef Eff Efficient Efficient Ef- Ef f Examination 1 aton of or a a banking department nt of ot state of ot Utah and provision pro for ap- ap ent of a state state bank hanl kid ld one or more bank examiners to atter after the banking business s of 01 the thele le a. a and u a protect the peoples people's money the chief chleS recommendations he the bl biennial report of or C. C S. S f etar ot of state stale and ex ox bani bank im I ss Ion e r ir r. r Tinge urged that those thOSA things R one none In his last biennial report but legislature did ld not see fit to net act on things though othor other ts 8 5 were incorporated Into It laws II He orates crates his hs b belief that a n banking dement dement de- de ment is essential to the state gov- gov O and urges that action bo be taken ig g this line this time The Tho secre- secre says as a's am more than over impressed with necessity for tho tim creation of ot a aking aking king department he be present law provides for only examiner and he is required ake an examination of or each of ot th the nty corporate an and one bank at least once a year ear but buting butIng buting ing the long Interim between exam exam- Ions a b bank benk k could easily be eked either elthor through h bad loans lotina and or by the acts of ot dishonor dishon- dishon or Incompetent officials For Honking flanking Department either the examiner nor tho the of ot state who I Is s officIo x bank mIssioner oner has the time under th the ent sent law Jaw to give special attention nUon eak reak or unsound banks hanks I therefore that our banking law 18 be so a as to create creato a hanking de- de or bureau providing pro for the h by th nn rf of i n i loner r- r rr of r b banking i n and t one e o or more 1 I Iner That each state and bank or trust company be bo exam exam- at least twice each year ear and an that J- J present examination fees be e ro- ro ed ed and that such salaries be pro pro- Cd that will enable the state slate to seC see se- se e C the services of ot men well qualified the positions ha he secretary again aln recommends reI re- re I I. I of ot tho the present loan and trust rant law aw and the enactment of oC LW w providing for or the organization regulation of ot such companies t is also recommended that the law lawch Ich ch gives gl the secretary of or state final Inal in granting or refusing a n to a a. banking concern be so as ns to give applicants the thet nt it t of ot appeal from refusal on the tho thet t t to o of the thc secretary to the state board I examiners a ers refusals of ot charters have been n beene ae e eO by bp Mr r. r c because as he a. a he was convinced that in the dis- dis ts where the new banks were to be he bened ned ined there were already as man many iks ks s as ns there was business to supt sup- sup t t. t Jr Ir I says It has been the Ic Icy of or the department to have ha fewer banks I n Receipts of af Department he hc total receipts of or the department ro o Receipts from the In- In oration license tax amounted to as compared with t the preceding two years cars a decrease The decrease is accounted I b by the secretary b by tho the fact that fly tny of the tho lar large c companies have red re- re d their capital to the thc minimum reducing the tho amount of ot taxes the two years ears 1249 1219 automo- automo s S. were wera registered from which the tho Rte ate te derived a fee fec of or On SO 30 O the total registration in Iii ef state was s 2569 2560 f patents to the thc number of ot 1699 ere re e issued covering o acres Corporations were ere organized org 1 under r rf pi pl f laws of Utah to the number of or 46 6 Including 30 churches and an I 10 for for- fen n n concerns From the investment In of ot redemption ida the treasury derived derl a gain of or and it is suggested that the slature authorize investment In of QC th the j i ids for nd redemption ml of tho the bonds maring mai ma- ma i i ring cing in 1916 1918 HilS and 1920 Tho The secretary also gives a resume of oC of or his department in the pu pub pub- I cation tion and distribution of oC tho the laws of ot pe state and in other lines JInes which it komes tho the duty of the secretary of or orate ate to take tako euro care of oC 11 |
