The morning call., 1894-02-25

for the attention OF the convention by a
Dir. Il. II. ii. Hunt, not banker, was
referred to the committee on resolutions
without being read. No other addresses
being presented, committee reports were
asked, and that of the committee on reso-
lutioDs was presented. 1t recommended
that the propositions of Mr.. Tom, Mr.
Miller and MIR. Lankershim. presented in
Fridays session, bearing respectively on
time notes, on rates of exchange and on
savings banks, should be embodied in the
printed reports of the convention as con-
tanning valuable ideas, but that no vote
should be taken upon their adoption.
The nominating committee brought in
the following ticket OF officers for the
year: For president, Lowell White; for
first vice-president, |. q. Wickersham; for
treasurer. G. w. Kline 0ncumbenD; for
secretary, r. NJ. WEIGH QncumbeDD; for
members of the executive council-George
II. Stewart, II. III. Hewlett and n. ID.
Rideout; for delegate to the American
Bankers Association. Edward Floyd
Jones.
The names all seemed to please the con-
veniion. and the secretary was instructed
to cast the ballot for them.
Dir. Hellman called Mr.. White TO the
platform and introduced him with some
graceful remarks as the new president of
the association.
Mr.. White replied that he had hoped to
CsCdpo lilo utDUIs Uut Tie
spirit in which the nomination was ten
dered, and therefore accepted the election.
The place Of holding the next coDven-
ton was referred to the selection OF the
executive council.
All these matters of routine being flu
ished miscellaneous busiu ess coming next
on the programme Mr.. Dubring of So
n IONA, the man who tried in vain to break
the dull monotony of Fridays proceed
ings, presented a proposition which this
time did Set things a-going. Taking in his
hand Nj. ElllOtts paper containing sugges-
tions of certain changes in the State bank
ing laws he moved that the convention in
open session should consider the clauses
of the paper one by one and express its
opinion upon them. Answering the OBJ
lection made in the preceding session that
for bankers to openly pronounce in favor
OF certain measure would be TO leopard
| iZe its passage Mr.. Duhring said:
These propositions can be introduced
| to tire Legislature in such a way that they
! can be seen not TO be for the interest of
class but for that Of the whole community.
| A committee should be appointed 10 see
| thar legislators are so impressed. One OF
MIR. EIlioitS recommendations Is that the
| Bank Commissioners shall be given power
| TO close n bank without referring to the
Attorney-General. This is an important
matter. The Commissioners themselves
the convention heard suggest 1t yesterday.
| All Olutidi oplDlOu OuRub 10 DC expressed
| upon 1t here. and in order TO bring the
thing to an Issue do row move that 1T is
the opinion Of this association that changes
should be made In the banking laws which
will follow in the line of Mr.. Elliott's
suggestions"
! The motion had tbe effect which its au-
| thor desired. Instantly, before il could be
seconded, Mr.. Stewart of Los Angeles was
on his feet with the remark that he did not
think The resolution of Mr.. Eliotts paper
was broad enough. The Bank Commits
si0ners should be able simply by their own
unanimous vote to declare any bank closed
which they found to be insolvent.
| Mr.. Elliott rose TO say that such was
| exactly the suggestion OF his paper.
There can he no question:" he said,
that had the Commissioners had the
| power therein proposed to be given to
them they would have shut the doors of
| several banks long before the panic and
| thus have forestalled the evil influence
which their SUSPENSION exerted In such a
| critical time"
Others took up the debate and the dis
cnssion became general. PresideDt-elect
| White moved the reference of the matter
TO the executive council, with instructions
that it should prepare an amendment Ia
| the banking laws of the State, which
| should embody the suggestions of Mr..
| Elliot. Without delay Mr.. Miller of Sac
| ramento seconded the motion. Reichman
| OF Fresno acceded, But, at the same
| time" said he, I'VE are here TO discuss
just such matters as these, and we can ex-
| press our views so that the executive coun-
Gil shall know what they are and be able
to make use of them in its deliberations"
This was exactly Dnhring's idea-not to