Show DUTIES OF DIRECTORS Comptroller Ridgely Tells How Bank Failures Can Be BeA A Avoided voided Philadelphia Sept 27 Tho j-Tho Tho failure fail Call all all- ure uro of or the tIre Real Heal Estate Trust compan company com coin pany pan was Wt touched upon either cither directly direct direct- I ly or Indirectly at great length today at the open opening In session of the convention conven con ion tion of or tho lie Pennsylvania Pennsyl Cankers Bankers as as- sedation Comptroller though not trot mentioning the tire defunct Institution b by name miami had lund much to f say of or the tho liability lia lirt- lirt of oC directors and anti of oC directors who die lid not direct and In his address set seta seti a i high standard for bank and trust t company boards The Tho welcome in behalf of the Philadelphia Phila Phila- delphia banks s was ma made e b by Jo Joseph Moore Jr Jl president of the lie National Bank of ot Northern Liberties The Tire ad addless address address ad- ad dress of or chief Interest was that of the comptroller of the tire currency In speaking speak speak- In ing ng of oC the robbing and antI looting of oC ban banks s and trust companies Mr Ridgely Ridge Ridge- c- c ly Jy y said Xo No l. l for fOl J Jobbery There Is no excuse for such robber robbery robery rob- rob ber bery ery of oC a batik bank It cannot happen where the directors arc are honest and anel doln doing thou their duty It Is no answer for 01 forthe oi the directors to say ay thc they had confidence con con- in iii their officers and ell did not know the tire real condition It is their business and their sworn duty to know the real condition It Is their business business busi busi- ness anti and their sworn duty cluty to knothe know kno the condition and amI prevent such stealIng steal steal- ing As S to remedies for Cor such sueh conditions he said The Time directors should require complete complete com coin reports from all officers and have hn them verified b by directors who arc are not officers and make mako frequent and complete examinations These should be bc made by the directors director's independently lode inde of ot the tire officers and when possible competent outside account account- nuts should be employed to do the work Every bank whose business Is large Jarge h to lo afford it should have havea a regular au auditor or audit department department depart depart- ment constantly at work checking checking- up first one man man and then another |