Book Description

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1910 edition. Excerpt: ...We don't believe there is anything in it. Such securities could be removed to or from a distance equally as well. 11. A good idea. 12. Might appear dangerous. A bad idea. 13. We are not in favor of such appointment under civil-servios regulations. Legal and executive ability may be obtained better outside of civil-service regulations. 14. We believe the law should be extended to apply to false reports made to the Comptroller. 15. Yes. 16. We believe the Treasurer should have authority in some way to enforce this law by giving such institutions a limited time to make good without resorting to such extremes. 17. The limit might be removed and the matter made optional with banks. 18. Not feasible. 19. No suggestion. We believe that the results up to the present time of the national banking act in its administrative features and otherwise have been excellent, and while of course improvements will better things we don't believe any radical change will better them very much and we don't believe there is any call for any radical change. Ocrosna 13, 1908. F. O. Watts, President First National Bank, . Nashville, Tenn.: . We are in receipt of a copy of your circular letter under date of September 26. We are not advocates of too many changes in our present national-bank law. Without undertaking to go into details, we believe that the most important changes are: First, the placing of the examiners on a salary basis and under civil-service rules; second, restriction of loans to be made to oflicers of the bank to those secured by approved collaterals, and to the directors of the bank to loans approved by not less than five of the other members of the board, the loans to oflicers on collateral to have a similar approval. We think it...