The morning call., 1894-02-25

Oe nasty IN getting conciusiono-pu' w
get the bankers to express some opinions,
To say something. to do something, to
awaken the convention. Otner wise our
coming here has been waste or time.
therefore," he added. ''if my original mo-
ton on particular clause is going 10 clog
things Will withdraw 1t.
LaDkershim of Los Angeles SPOKE
Then Hellman began to he anxious for
vote. DGhring's motion was out OF the
way. Only Mr.. Whites amendment was
before the house.
Inc question was put a unanimous
amrmative was returned.
Then, with tact, Mr.. White moved that
the convention should give iis opinion.
Item by item, on all the suggestions OF Mr..
EillottS paper; that the executive council
might hear and profit by il. To TINS Mr..
Duhrlng assented; likewise Mr.. Reich
man. Dir. Elliott and all others.
Inc suggestions of Mr.. Elliott we're
taken up seristim, and approval was given
10 All except one. They were:
tlrst-That banks be required to make
hve reports each year for publication
Second-That commercial banks, be re-
CURED to keep 10 per cent of cash on hand;
savings banks q smaller percentaEe.
Thlrd-That the Banking Commission
ers be allowed to proceed against banks
without relerence to the Attorney General:
that IN an emergency their unanimous de-
clsIon shall suffice TO close any bank.
A suggestion to increase the Commits
slonerS' term to eight years was disap-
proved.
This being done and settled once for all,
Mr.. DuhriDg having accomplished bis
purpose of making discussion in the con-
ventlon, many persons having had some
little say, and everybody having derived
some measure of profit from an animated
session. Mr.. Stewart arose and said:
Now, L move that all votes on this mat
| ter be stricken from the record, the opin-
ions having been expressed and the execu-
1--WE Council having heard them"
Such was the will of the convention, and
the hour of adjournment approached.
Before the assembly should disperse,
however, and before the deliberations
should close. and everything about them
| become only memory" said the committee
| on resolutions, I'VE must call TO mind
| those who. too, are only memory now,
those who were with US al our last cOnVen-
| ton and who are now numbered among
the dead-E. +. Spence of Los Angeles,
| Mr.. Gottig. Mr.. Woodwork and MI. Nc
kee OF this city, besides several others of
other places"
Accordingly fitting resolutions were in
tr"dueed and adopted. One was read con-
corning Mr. Spence, and the others were
given into the hands of the committee.
Mr.. Breed of Los Angeles paid a kind
| tribute to Mr.. Spence on behalf of those
who had known him intimately.
On motion of Mr.. Reichman votes of
thanks were rendered to the Chamber of
| Commerce for the use of its rooms, to the
public press and to Mr.. Holman.
Vice-presidents from the various coun-
ties were named and the convention ad-
journed.
Immediately after the adjournment the
executive council assem- bled and elected
Mr.. George II. Stewart Of Los Angeles as
presiding officer.
In the afternoon the matter over viii oh
the country caucus had been contending
came before the clearinghouse committee.
| Headed by Mr.. Gerber. the country
bankers presented their claims. Their
substance was given in the resolution of
Mr.. Gerber, read before the convention
! on Friday. 1t is in the matter OF the in
terest on the notes which according to
the recent ruling take the place of over
drafts as formerly allowed. The country
| bankers contend for a rebate on credit
balances in the city clearing houses
against the notes by which they cover
oyerdrafts. The city bankers are averse
TO allowing il.
Mr.. Gerber, Mr.. Duhring and the other
members OF the committee of five argued
the matter as best they could. but Messrs.
| Steinhart and the other representatives
OF the clearinghouse opposed and the
matter came TO no head. The Clearing
/ house representatives acknowledged in
measure the business of the claims of the
| Country EdDk6fs. Out SalQ Lloy were ufl-
authorized to proceed as a body and so
would have to take the request under
| advisement.
Thus ended for the time being all ad-
| Juncts and aspects OF the third annual con-
ventiOn of the California Bankers As~o-
| citation. There were in all nearly $50
| delegates In attendance, over ninety of
whom were from the interior. The two
definite things accomplished were the ref
creme of certain propositions to amend
the State banking laws To a committee for
action, and the adoption of a resolution
looking to the establishment of an institu-
ton for the higher education of business
men. The end Tor which the country
bankers came to the convention was not
attained. but the subject was agitated and
brought officially before the body which is
eventually to decide il. IL is rumored
that this is not the end Of it, but that the
parties concerned have obtained from the
convention an esprit de corps which may
materialize into greater results at some
later time.