The convention of the Lakes-to-the-Gulf Deep Water Way Association has just been held at Chicago. Among the papers read were, "The Future of Rail and River Transportation" by Theodore P. Shonts, formerly chief engineer of the Panama Commission; "What Europe is Doing with Waterways" by John Ockerson of the Mississippi River Commission; "Conservation of our Resources" by Gifford Pinchot of the Forestry Service. The Trans-Mississippi Commercial Congress was in session at San Francisco at about the same time and also considered relative problems.

The new term of the United States Supreme Court began last week. On the docket are many matters of interest. Among these is the appeal from the decision of the Circuit Court concerning the "commodities clause" of the Interstate law as affecting the relation of the Pennsylvania railroads to the control of anthracite properties; also the decision of the Texas courts ousting from the State the Waters-Pierce Company, identified with Standard Oil interests. Another case is that to test the validity of the Bank Guaranty law of Oklahoma as applied to national banks.

Comptroller of the Currency Murray has decided to increase the number of national bank examinations in many cases from twice to three or four times a year. The new rule will be made to apply especially to all national banks which have in the past shown a disposition to violate or evade any of the provisions of the national banking laws or the regulations prescribed by the comptroller of the currency. He will also put into immediate action a plan for the formation of eleven districts of national examiners.

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October 24, 1908

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