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Show COMPETENT EXAMINERS POR BANKS PROVIDED IN PROPOSED LEGISLATION CHICAGO, Sept. ' 29. Competent bank examiners, whose inspection of an institution will be a guarantee of its financial safety are provided for in a bill to be introduced at the next session of the State Legislature by Representative Representa-tive John P. McGoorty of the First district dis-trict who holds that the present system-of system-of -examinations is worse than none. The measure will be a final blow to the perfunctory examination of banks by State officials. Its most important provisions will be: Fee system to be abolished and bank examiners to receive re-ceive a sufficient salary to secure men of ability. - . Bank examiners to be certified public pub-lic accountants, and to be retained permanently per-manently under civil service. Assistants in suficieat, number .to, b4 "provided aadthey must be experts on value of listed and unlisted securities, mercantile collateral or real estate and also experts on handwriting. - Examination to be not only m thorough, thor-ough, audit, but to include valuation of all securities held as collateral. Loans to stockholders to be itemized as part of the report. State Auditor to have power to close suspicious banks immediately and discretionary dis-cretionary authority in refusing charters. char-ters. Directors to bo live men, not dummies and to be required to certify in writing to the genuineness of notes and other securities.. |