The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1886-08-13
THE BANKERS CONVENTION.
Proceedings at the Second Days
Meeting Held In Boston,

BOSTON, Aug. l2.-N0tWltnStandlnS tnt
extreme heat, Horticultural Hall in thi:
city was pretty well filled with delegate.
when the second days session of the bank
ers' convention was called to order this
morning.
The executive council reported in favor Of
amending the constitution to provide for the
establishment Of the office of first vice presi
dent, the selection of one vice president
from each State and Territory represented
and an executive council of 81 members
The amendment was accepted by the con-
vention.
The committee on nominations then re-
ported a list of officers, all of whom were
elected for the ensuing year. The new
president is Logan G. Mussay of New York,
and the first vice president is Lowell ID;
Camp of Milwaukee. The New England
vice presidents are as follows: l. T. Far
rington of Portland, Hon. John Cummings
chester, N. r., II. J. Wells of Providence,
r. l., and Charles W. Woodhouse OF Yer
mont. An executive committee OF twenty
was elected, including William E. Gould OF
Portland.
Upon taking the chair President Mussay
addressed the convention briefly and then
papef on a66anRffGGpptc5yp lRfGpt 5pR@ 5a%5s who read
Judge Lowell said that ne had no doaot
there was general demand on the part OF
the business men for uniform bankruptcy
law. Some States, including. Massachusetts,
had excellent bankruptcy laws, Dut tneSe
State laws were absolutely local, ana tne
laws of one State do not cover essentlal cases
in other States. Even the Massachusetts
bankruptcy law had numerous defects, but II
answered fairly for local purposes. Judge
Lowell suggested that salaried supervisory
officer should be appointed under the govern
ment to supervise all bankruptcy
cases, just as insurance commissioners
vided for in the recent bankruptcy
law before Congress should be salaried,
and should have executive functions togetn.
er with supervising officer 1t was not
reasonable to expect judge to SIT upon
bankruptcy cases and examine into them and
not become partisan one way or the other.
This was an executive function and should
not and could lot be exercised justly by a
judge. Bankruptcy cases should pc super
vised by officers paid for so doing. In con-
clusion Judge Lowell advocated tne Dlll re-
Gently introduced in Congress, providing for
bankruptcy commission, but believed the
supervising officer he had suggested should
be included in the commission. States mlgnl
pass a similar bankruptcy law and thus over,
come many difficulties of the situation; Dut
even that might have other difficulties, and
national legislation would seem to be
the wisest and best course. =,
At the conclusion of Judge Lowell,s paper
a communication was read from G. N. Jor-
dan, treasurer of the United States, giving
statistics of silver coinage IN clrculatlon;
George Hague, manager OF the Dank OF
Montreal, then read paper on the system OF
branch banking in Canada. -,
The executive council then submitted Its
report. The report says:
The association embraces in its membership
men of every political party as Wen as tnose INC i; WIZ M
its conventions carefully avoided all mere parry
and political questions, representing as IL does tne
Stockholders of banks. The impending danger te
the whole country is the continued coinage OF sll
yer dollars under the act of 1878. Whlle we 1ully
recognize the fact that both silver and gold, are
required as the money of the land, we Delleve
that neither should be carried in such ratio that
the other shall be driven out OF general use: Inc
committee repudiates the idea so often maintain,
ed, that banks and bankers oppose the continued
coinage of silver dollars on account OF sell inter
est On the contrary they assert @ nas Iney NAYS hs
another so long it has discharged its Legitimate
purpose as money. We believe that all persons
having limited income, and particularly earners O.
wages will most largely suffer when the threat
ened evils shall come. We therefore earnestly
appeal to all industrial, civil and political asso
to secure the repeal Of the law or suspension O
the coinage OF the silver dollars.
This report was unanimously adopted,
Ex-Governor Hoyts paper was referred &c
the executive council Wlthot being reau OW-
ing to Mr.. Hoyt's Hines.
A large number of papers were received
and referred to the executive council With
out reading. The usual reports OF the secre-
tary were also referred without reading.
The following resolution, adopted last
year, with slight changes was re-enacted:
Resolved that the executive council is hereby
authorized and requested to continue such steps
as are found necessary, by memorial or otner
wise, in behalf of the association to procure Sucn
legislation as in the future will secure the return
of fugitiveS from justice, who may be at large on
account of defects in existing treaties.
The executive council, organized under j.
j. Knox of New York as chairman then re-
ported various resolutions in regard to the
internal management of the association. Va
rious votes of thanks were adopted emDrac
ing those for hospitality, courtesies and tc
the press for its liberal treatment The con-
vention then adjourned sine die.
Nearly 300 of the delegates the American
bankers convention were present tonight al
banquet rendered by Boston members Of
the association, at the Parker House Asa P
Potter, president of Maverick banklpreslded
and the principal speech of the night was
made by Senator Henry Ii Dawes, who
dropped in unexpectedly. He spoke upon
the silver question and the national banking
system. Other speeches were made by Pres
ident Potter, Comptroller Trenholm, Presi
dent Murray of the Bankers Association
ex-President Gage, Mayor O'Brien, Henry ID
HYDE and Others Among those present were
Congressman Collins. ex-CongreSsman Ran
ney, and Rev. Phillips Brooks.