San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1896-09-23

| Inc uueS were fXeu so as TO yield
certain sum in the aggregate-if
membership of this association is not
worth ten dollars to the smallest bank
in the smallest place in our country,
ii is not worth anything.
| While we believe we affI'd excellent
| protection to our members against pro-
| fessional criminals, we should be sorry
If each member in Joining thought on
| ly of what his bank might gain, in
stead of joining from professional
| pride, esprit de corps, actuated by a
| desire to contribute to the common in
| terest and welfare of the banking fra
| ternity.
When those prominent professional
| criminals, Becker and Creegan, were
| arrested, and when, a few weeks ago,
| their conviction (and sentence to life
| Imprisonment was flashed over the
wires, each member of our association
| rejoiced, and felt a sense of pride that
he had performed his share in achiev-
ing that result.
DAYS OF GRACE.
Many states have abolished days of
grace, and the subject is being consid
cred by the remainder.
We hope, with the cooperation of the
Bankers association in these states,
during the present year to have the
pleasure at our next convention to an
nounce that days of grace have been
abolished in every state of our union.
Uniformity in commercial laws and
usages in the different states is very
desirable.
We have given much thought to the
M dn of in ha
desired direction.
FortS-five states with more or less
difference in their commercial and
banking laws, homestead exemptions
and limitations, naturally attract at
tention and thought
For example, in one state, at least
in the cases of failure of a bank or
ganized under it's laws, the home de-
positors receiving no interest are pre-
ferred creditors-in others, possession
as collateral of certificate of stock
of corporation organized under their
laws, standing in the name of the bor-
rover, is valueless as security unless
transferred to the lender or noted on
its stock ledger.
In another, if payment of demand
note, Endorsed, is not demanded within
four months from its date and protest
ed if not paid, the endorsers are releas-
ed.
In another, notes that are not paya-
BILE at a bank within the state, protest
is not necessary to hold the endorsers,
but the maker must be sued at the first
court after maturity of note, unless it
can be shown that he was insolvent at
that time.
cite these few examples to illustrate
the differences that exist, and earnest
ly urge that this association should
take up this work of harmonizing the
commercial and banking laws of the
different states. A well-arranged plan
in cooperation with the state bankers
associations and our various vice pres
idents would, in my Judgment, be
crowned with success.
EXPRESS COMPANIES.
We have taken a deep interest in
the pending controversy between ex-
press companies and banks in various
parts of our country in regard to what
are known as express money orders,
and also their increased rates for
transportation of money.
A committee was appointed to look
into the merits of the controversy and
suggest such action as they might con-
slider essential for the protection of our
interests, and the results of their in
vestigations will be submitted to your
consideration.
There has been considerable bitter
ness of feeling injected in the contro-
versy that is needless and irrelevant.
1t does not tend to an equitable solu-
ton of the difficulty to be Incorporate
in speech or action.
If the express companies do not pay
their fair share of taxation, If their is
sue of money orders should be liable
as circulation as ten per cent. tax, if
they should be subjected to the re-
strictions of the interstate commerce
law, are matters that can be discussed
in a dispassionate manner, and the
legislatures of the different states or
the congress can be invoked to make
such legislation as is needed.
To say that in New York, Chicago
and other cities, banks should decline
to keep the accounts of express COM
panies and redeem their money orders
is simply ridiculous.
The advice to the country bankers
to withdraw their accounts from banks
in those cities who will not close ac-
counts Nof express companies or sub
stitute their own drafts in lieu of ex-
press orders is superlative nonsense.
The whole question is one of competi-
ton, and our sole effort should be to
restrain that competition within legal
| limitations.
ENDORSEMENTS.
The subject of restrictive endorse
ments has attracted considerable at
tention lately, and the clearing houses
of our country have taken action in re-
gard to the matter.