The morning call., 1894-02-24

George H. Stewart.
took It up In the next paper before the cOU-
ventIOn and started off with the assertion that
could NE suggestions OF Mr. Sheffield nave
been put IN operation lncaleuabe benefits
might already have resulted. The city banks
had not been accommodating 10 the country
and the result was Tia [ each country bank had
had TO bear alone The burdens OF its depressed
and frightened communities. To obvate an-
other such occurrence and to promote the in-
terests of the future Mr.. Bush advocated the
formation OF some sort OF cooperative fedora
ton by which country banks could get clear
ing-house advantages In The city. He wished
a committee app oinied 10 take the matter
undel adyisement and report at subsequent
meeting
Some faint applause greeted The conclusion of
the paper. Tie chairman made no move to
have il come further before the house. Mr..
Bush handed IL 10 The secretary for hle aud not
word NOR was said.
Another paper followed on Savings Banks
and Their Dividends 10 DepGsitOrs," by }. b.
Lankershim of Los Angeles. and was treated In
The same manner. Ii recommended lower rates
OF interest as The best means OF securing stabil-
lily TO savings banks, but no one seemed TO care
TO discuss II.
Lovrll White. of course, the veteran Of The
association, stimulated interest and applause,
as be always does. when be rad a paper on
Savings Banks-Their Missions and Dutles";
but wnen numbers had waited their congratu-
latnns To him aud few stepped forward 10
shake bis hand. the same dead attentive silence
fell upon the assembly.
Mr.. Miller OF Sacramento tried to stir up
some life. Like Mr.. Gerber who had thrown
loaded shell into the meeting of Thursday, he
tossed a resolution aboard the table at the close
OF bis paper on "Unsecnred Loaus-Time VS..
Demand" which, IL considered at all. would
make at least two sides to a debate. Ii WIS to
tie effect that the convention be said TO APP
prove the practice of writing time loans, with
the exception of those wDicbl: are secured
and those which are made 10 borI overs
who reside outside the limits OF this State;
aud that 1t further approve the custom OF writing
md dadtt TIM
discount. This would be In direct contradlc
ton OF the present and newly adopted rule OF
me elearlng-house In the matter of overdrafts;
you have heard the resolution; what viii
you do with II ?" sharply spoke the president.
Move II be referred 10 the committee"
"Moyed aud S conded IL be referred TO the
committee. Are you ready for the question?
those in favOr-those not IN favor-etc. II is
vote and so ordered"
Like Mr. GerbeT's bombshell Mr.. Miller's ex-
plosiye was out OF sight before 1t could posi-
bly, have a chance To do harm.
Up 10 this time no less than five papers, prop
osltions and resolutions had been submitted,
with reference TO the relationship of country
and city banks. The leading feature of the al
veftised programme was that selfsam subject.
In lie hope OF hearing II discussed and in The
hope OF seeing some tangible results effected
BY The discussion, most OF The delegates from
tile interior had come TO the convention. But
At noon OF the second day II looked IL tie
whole matter were 10 go by the board-that is,
by the committee. An effort had been made TO
form caucus of the country people in the
Ill chosen aud nothing was done. be leaders
Of he erior bankers therefore looked on un-
happily when half second days session went
by without advantage 10 their cause.
The afternoon session came. Papers were
read by }. NJ. Elliott of Los Angeles on "Cer-
tain Changes In The STAR Banking Laws" by
Henry Drummer on "The Way to Preserve the
National Banking SYSTEM" and by j. NJ. c.
Marble on The Financial Situation" All OF
them were passed TO the secretary or to the
committee. There was no discussion. Fred
erIck L. Duhring Of SOnoma did not relish The
way things were going. He rose with Mr..
Elnotrs pap in his hand and moved that the
suggestions contained In IL should be passed
upon and be declared the sense OF the conven-
ton.
Presldrn Hellman-They are already re.
feIred to the committee on resolutions.
Mr.. Duhrng-MT. President, 1 do not think
a II these matters should go 10 the committee
without discussion. / think the committee
should take these subjects up aud talk about
them. That is what have come here for.
That is why men have conventions.
President Helman-I 90 not see what you
can do. MIR. Duhring. The paper has already
been accepted aud the resolutions referred.
The matter Is settled.
Mr.. Duhrine was fioored on the technicality
but he pro ested on the spirit. He thought the
bankers had met for the very purpose OF sug-
grSIing 10 legislators and others what they as
body want a. aud how could that be deter
mined unless II was talked over among them
selves?
The president. however, was obdurate; the
| resolution had been referred.
Meanwhile, as an exception TO the regular
programme, the State Bank Commissioners,
being In attendaDce as honorary members of
the association, had been callrd upon for
speeches Messrs. DnnsmoOr and knight sug
ges ed The necessity of certain changes in the
banking laws affecting tn ir Offices. Mr. Duhr-
Ing look advantage of the suggestions TO drive
his point home. What is tile use of hearing
all these things II we don't act upon them?' he
! asked.
! Bankers cannot act in public" replied some
one IF they wan anything they must never
let 1t be known that II is bankers who want IT'S
mat seemed TO settle matter. MIR. Stewart
mentioned the existence of the MidwiDter Fair
| as an agreeable resort and moved an adjourn
| ment. The convention gave an fiimatise vote.
But with an adjournment the end did not
come 10 The important events OF the day. I'm
mediately country caucus was summoned by
! Mr. Gerber OF Sacramento, aud everybody
reporters. city bankers. friends and strangers
were invited to vacair the room. The relation
| oil the country and city banks was about 10 be
considered. Fully sixtytdelegates remained In
caucus Tor an hour consulting over action 10 be
taken TODAY 10 compel The attention they desire
10 receive. MI. Recbmann OF Fresno was elected
chairman, and Il committee OF i've, consisting OF
Mrssrs- Gerber. Bush, Jewett, Duhring, Reich
mann ana Suodgrass, was appointed to 20 be-
lore The Clearinghouse Association at 80
O'Clock ths afternoon TO present the PROPOSE
tlons which lt has been Impossible TO get any
dcllOn upon III the convention.
During the afternoon session the president
OF the convention announced the substitute on
! OF Mr. Reichmann on tie nominating commit
tee Tor Mr.. Lnkens, resigned. Amendments to
the bylaws were passed. providing for the pay
ment OF dues at The beginning OF each calendar
var. aud making the president and first vice.
council.
Mr.. w o. HipweII. assistant cashier Of the
union National Bank OF Chicago, was present
during the afternoon, aud MIR. Miller OF Sacra-
mento eDdeavorrd TO use him TO force the
county bank" consideration on the c0nven-
tion. Mr.. Hipwell made little speech ex-
planning that Eastern banking system but It
did no more 10 stir up talk than other addresses
had done.