Show HOW GOVERNOR HUGHES WORKS We Ve have mentioned before that Governor Hughes had appointed a commission tc to investigate the bank bank- ank- ank ing and trust institutions in m New York An eastern p piper paper per gives us full particulars Th The governor has written to several banking officials officials' of New York 9 City t informing them then that he deems it both proper and fund important that at as ns early a date as possible and nd before the meeting of the legislature opportunity should hould be offered for t the h expression of matured opinion with reference to the improvement of the states state's financial l legislation He has therefore requested re re- quested the bankers selected b by him to act as a committee committee com com- for the purpose of collecting facts receiving sUJ suggestions i and expressing sing the views which after due ue reflection the they may entertain upon the question and if any changes are advisable isable in the laws of the state relating to the incorporation condition of business and supervision of banks and trust com com- P anies This committee will win consist of A. A Barton Edwin S S. S Marston Edward W W. Sheldon Alperson S S. S Frissell Stephen Baker and Andrew Andre Mills lills of New York and it is asked to submit a lep report re re- report p port rt on or b Decem December her 35 15 5 next nest It is l i se i that Governor Hughes believes there is something ig very verr wrong in the handling of finances in in New York City The system is all right I s so long a as all the banks hanks and managers of trust companies companies cornI com corn are honest but he believes evidently that at atle le least st a part of them then need some careful watch watching ng and and as is s- s sh h he is is' isa a resolute straightforward man he lie wants the report of this committee before the legislature legis legis- lature meets m in order to make recommendations to th the legislature through which the tho state mate authorities will ill have haye at least a partial control over the plungers of N New w York City We hope ho P e the president t is quietly pur pursuing lIing a similar Lr plan We hope further that through our in Europe h he is getting getting- the best advice of the strongest f financiers of the old world as to wherein in their judgment our financial laws fail in efficiency ej It may be he said that this would be humiliating hut it would not be bc half so humiliating as to see our great country with its millions of increasing increasing- wealth annually t s supplicating Europe for a few million dollars to help out the financial chaos I |