Dr. W. Ernst of the Prussian 'Ministry "of Commerce was appointed' Federal Commissary of Banking to-day in connection with the Government's plans for establishing state supervision of banks which had previously been approyled by the Cabinet council. Dr. Ernst will be assisted by a Com mittee of Five, consisting of the Governor of the Reichsbank, the Permanent Secretaries of the Min-istness of Finance and economies, and two prominent economists.
The powers vested in the Com-emissary, however, are limited and, according to present arrangements, his activities will chiefly have an advisory character, though they will avoid a repetition such events as the failure of the Danatbank larg July. which precipitated rhe new sat new banking regulations were incorporated in one of five emergency decrees promulgated to-Jday. The second of these provi for important amendments of the laws governing the constitation of stock Companies, Furthermore this decree provides that no Loans from the funds of} any company must be made to directors, or companies, individuals connected "with them. Any fringement of this rule will be a Jeriminal offence and "subject to! penal servitude. The same punish-Jor managers attempting to juggle Ment will be meted out to alretars with thet balance anes detriment of their shareholders of who seek to hide the fact that a Jcompany has a deficit or is run at. 8 loss.
The third of the new set of, emergency decrees authorises the 100,000 gold mark loan of the Railway Company, exempt from all taxes. ' Further~ more subscription to this loan jeames with it an automatic pardon for all those Germans who have money invested abroad and hitherto failed to inform the finan-[cial authorities of that fact—Trans-Ocean Kuo
Text read from the printed page and cleaned; old type leaves the occasional error.