The Iola register., 1889-10-04
THE BANKS CLOSED.


Close OF the Great Bankers' Convention
ut Kansas City-Onicers Chosen.
KANSAS C1rY, No, Sept 2z.-It Was
| nearly eleven o'clock yesterday when
President Parsons called the Bankers
convention to order. He introduced Rev.
Henry Hopkins, who invoked the divine
| blessing on the convention.
A number of papers on subjects relating
to the financial question were read by
title and, referred to the secretary with
instructions to have them printed in the
proceedings
A resolution memorialising Congress to
enact such laws as would effectually put
America on an equal footing with all the
other nations in the matter OF marine
traffic was offered and was unanimously
adopted.
Mr.. Sneed. Of Kentucky, offered res
olution giving it as the sense of
the convention that section 619S of
the law governing National Banks
should be SO amended az to lssve out
the clause governing forfeiture interest
and requesting Congress to make the
change.
The New York delegates were firmly
opposed to the resolution, as the law. il SO
changed, would inflict hardships on them
and operate differently in Kentucky and
New York.
J. R Mulvane moved that the resolution
be referred to a special committee of three
to be appointed by the president.
Mr.. Knox. from the executive council,
reported the following substitute for Mr..
Sneed's resolution, which was adopted:
''That the association apply to the Con.
gress Of the United States to SO amend
said section 5l9S that no forfeiture to ex-
coed the amount taken in excess of lawful
interest shall be exacted of any National
bank.n .fE.g
THE NEW OFFICERS.
Vice President Johnston, of Alabama,
took the chair as the report of the nomi-
mating committee was announced. The
committee was composed of c. NJ. Seley,
F. W. Tracy, w. H Rhawn, j. P. Odell,
J. b. Smith, c. McCarty and George II.
Morrison. The name of each officer, as
read, was greeted with cheers and it was
apparent that the work of the committee
had been satisfactory to great majority
il not all Of the delegates. The report was
at once ratified and confirmed on motion
of Mr.. Exall, electing the following new
officers of the associations:
President Charles Parsons, president
State Bank of St Louis, Mo
First Vice. President, Morton McMichael,
cashier First National Bank of Phila.
delphia, Pa 1'e'l f#
Treasurer, George F. Baker, president
of the First National Bank of New York
City. tsE
Members Of the Executive Council for
the term of three years: John Jay Knox,
president OF the National Bank of the
Republic New York City; w. H. Rhawn,
president National Bank Of the Republic,
Philadelphia; Asa P. Potter, president
Maverick National Bank, Boston. Mass |;
L. ]. Gage, vice president First National
Bank, Chicago; A U. Wyman, vice. p, esi-
dent National Bank Of Omaha, Neb
Emery Wendell, president First National
Bank, Detroit Mich. 8. A Harris, presi-
dent Northwestern Bank, Minneapolis,
Mimi.
For the term of two years: W. P. St
John. president Mercantile National Bank.
New York City; J. J. p. Odell, vice.
president Union National Bank, Chicago,
l. H Roots, president First National
Bank. Little Rock, Ark. ]. s. Chick,
president National Bank of Kansas City,
Kansas City; R NJ. Nelson, president
Commercial Bank, Selma, Ala; M. N.
White, president Fourth National Bank.
Cincinnati, O.; s. G. Murphy, president
First National Bank. San Francisco, Cal
1For the term of one year: Logan C.
Murray, president United States National
Bank. New York; J. T. Smith, cashier
National Bank, Baltimore, Md; h. II.
Camp, president First National Bank,
Milwaukee, Wis; David T. Porter, presi.
dent Memphis National Bank. Memphis,
Tenn; James s. Barrett cashier German
Security Bank, Louisville. KY; w. E
Schmertz. president First National Bank,
New Albany, Ind
The convention then adjourned.