Birmingham state herald. (Birmingham, Ala.) 1895-1897, 1896-09-24
BANKERS TALK POLITICS
And Are Called Down By One of
Their Number.
THE BUSINESS is VERY GOOD
Is the Epitome of Reports by Different Mem.
bers of the Association.
M'as'ss'PPyS EXCEPTIONAL SHOWING
~
The "sq ~ Money" String Was garped
Into s&"A"l'-The Uniformity .f1aws
overning Commercial Paper
g Discussed at Length
h'Ss'ssIPPIS EXCEPTIONAL SHOWING

uay S session of the twenty-second an.
huai convention of the American Bank
ers association was called to order al
1905 o'clock.
Inc Most Rey. John ]. Kain, arch
bishop of the diocese of st. Louis. in
Voked divine blessing upon the proceed
ings of the convention
Inc first business of the session was
tf& report of the various delegates as to
the general condition of banking In tbeir
states. A number of states faiIad +o no
spond and they were passed over to be
heard later in the session. Among those
who spoke were delegates from Arkan.
sas, Illinois, Kansas California. KEN
lucky, Maryland, Massachusetts,. Mis-
souri,, New York, Nebraska, Ohio and
Pennsylvania
Mr.. John H. Leathers of Louisville
claimed that the banks of Kentucky
were prosperous and confident of the
future. He believed that Kentucky
would do its share in contributing to the
welfare of the country by casting 20 600
majority for Mckinley
John III. Schneider of Cumberland, Nd,
said that the banks of his state, while
not doing so much business as formerly
were being conducted In safe and con-
servative manner. He claimed that the
banking interests of his state were in
favor of sound money"
Mr.. Thurow of Boston and f. w.
Hayes of Detroit spoke in a similar
strain.
j. M. Sherwood, banking commissioner
of Michigan spoke in behalf of the bank
ing interests of Michigan and claimed
that almost the entire banking fraterni-
ty was In favor of "sound money"
A. G. Anderson of st. Paul also adj
vocated sound money" He said that
Minnesota was waiting to hear from the
country in November, and the result, to-
gether with the movement of crops,
would stimulate the banking interests
of his state.
r. W. Millais of Jackson. Miss, said
that in 1893 there was but one bank fail
ure in his state, and that since then but
one more failure was recorded. Both
failures were the result Of misconduct
The conditions were favorable for the
banking interests of Mississippi, as the
cotton crop was good and prices were
satisfactory.
w. III. Woods of Kansas City spoke for
Missouri. He said Missouri banking in
terests were in better condition now than
at any time In their history. He stated
that there was $137 100000 in deposit in
the various banks of the state, and that
collections were good.
Henry Y. Yates of Omaha declared that
in the three years from 1892 to 1895 the
banks of Nebraska had lost on deposits
nearly 25,O00,O 900. He claimed that this
was due to depression In real estate, low
prices for crops and the unsettled con.
dition of affairs on account of the cur
rency question.
j. B. Rhodes of New York city spoke for
the Empire State. H. said that he pre-
dicted a majority of 100000 for the Sound
money" candidates. He said that the
banks of New York had an abundance of
money, and that loans were being made
on liberal basis.
Delegate Seiber of Higginsvlle pro-
tested that the proceedings of the session
were developing into a political discus
sion.
William A. Graham of Sidny, o., read a
statistical report of the condition of the
banks in his state, which showed them to
be in a solid and healthy condition.
The roll call of states was concluded
about noon, and showed that nearly ev-
cry speaker claimed that the banking in
terests of his section were In splendid
condition. Almost without exception the
speakers favored sound money" policy
as the safeguard of the banking insttu-
tions and the business iAerests OF the
country.
The convention then discussed the rule
abolishing restrictive Endorsements. The
matter was referred to the executive
council to report at its next meeting
Th convention engaged in lengthy
discussion over the practice IN diHefent
states of the payment of deposltors' rates.
The recommendation was fndue tHdt tne
convention endeavor to secure uniformi-
ty of practice In the matter
The necessity Of uniform laws govern"
ing commercial paper was the next sub
ject, with the question: What can the
American Bankers ASSOCIATION do to
bring the various state laws into harmo-
N.Y." The subject was debated at con-
siderable length and was finally referred
tc the executive council for such action
as they may deem proper to secure the
desired result
At | o'clock the convention took re-
cess until p. m.
At the afternoon session President Pull
len named the following as members OF
the nominating committees: NJ. NJ. White
of Cincinnati, F. w. Hayes of Detroit, L.
p. Day of Pittsburg, J. b. Ramsey of Bal
timore and George S. Prince of st. Paul.
The privileges of the convention were
granted TO Percy Thompson, secretary or
the American Warehouse association,
who made an argument In favor OF the
admission of that association TO member
ship in the American Blnkers assoca-
ton. The matter was referred TO the ex-
ecufiye council. Discussion OF various
matters affecting banking occupied the
remainder Of the day. the most important
being rs a bank check revocable before
presentation for payment" No conclu-
sion was reached before adjournment.
sTRICK LEN BY APOpLEYY.