“ I do not believe that any trust company in Philadelphia ran down ten per cent. in any one month of the time, but the banks have active accounts and discount paper which is running on time. In the companies I am in I think ninety per cent of the moneys are loaned on collateral and on call, and while not absolute it is pretty near reserve. Take Reading fours, you could sell 1,000,000 a day, and Pennsylvania railroad, and when you get to a stock like Reading, you could sell $10,000 worth of that without a ripple. I think it would be wise to require trust companies to keep a ten per cent. reserve. ”

“ I should think that the trust companies had plenty of safeguards against everything except fraud and that we cannot prevent, if you will put in the law the right of the trust companies at any time to ask for an examination. I think there should be a supervision of state banks as of national banks and that trust companies should have he right to ask for an examination if they desire. ”

“ If we could have called upon some one to examine the trust companies it would possibly have restored confidence. I do not agree with the gentleman who say that the state ought to pay these gentlemen. I think if a business is conducted for my benefit I should pay for it. If it is compulsory they could not help themselves. ”

“ A. There are some of them that are good and some of them are going to rob the people. They go to good companies and open accounts and then they advertise so and so deposit agency, and do tricks of that kind. ”