The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-08-18

utation as we'll as their money on tbs
result Of the business. Large bushes.
interests would be in the hands Of mer
who intended to pay and they would b.
released from the Legitimate competi
ton Of those who, by intention or reck
lessly, go into a corporate business by
which creditors must lose. Progress viii
doubtless develop other means for max
ing corporations honest. But believe
we ought not 20 stop until the response
bility to be honest resting upon corpora
lions which exist by virtue Of franchises
granted by the public is as great as tina;
which rests upon a first-class, honest
business man. If something in the ma
ture of responsibility imposed by the ma
tional banking law upon banks could be
applied TO all private corporations, be-
lieve that much of the odium that now
would be removed.
LAS regards the taxing OF banking
capital, as long as We apply the principle
that all property in whatever shape.
whether real or personal. shall De equally
taxed, property in the shape of money
Should certainly bear a proportion of the
which has an earning power, should be
taxed, but at the same time not discrim-
mated against by any method OF double
taxation.
IAN amendment to the national bank
| ing law permitting national banks 20
| lend as state banks do upon rear estate
could not out tend 20 benefit both bank
ers and those who borrow from them
The last address of welcome came
from George H. Russell, member OF
! the executive council.
President Lowry then arose and res
| ponded to the address Of welcome
Officers and committee reports were
| then submitted
William H. Porter, treasurer Of the as
ISOLATION, reported receipts for the year
1881 and disbursements s14,5s9.
THE ROGUE CATCHERS.
JOS. C. Hendrix Of New York submit
ted the report of the protective commit
tee. which Is composed OF three bank
ers whose names are kept secret and
who act under the direction of the exec
utive council in taking steps for the
arrest and prosecution Of parties charg-
association. During the past year not
member OF the association has lost a
dollar through burglary and every pro-
fessional operator to whom the attention
of the protective committee is called
has either been convicted. is now await
ing trial, or has been released on turn
ing states evidence. Mr.. Hendrix called
attention to the fact that there has been
no notable swindle or forgery during
the year.
AMENDMENTS.
Alva Trowbr,dge of New York, chair
man OF the executive council, said the
only important business of last nights
session was the consideration Of two
amendments to the constitution.
A subcommittee on the amendments
had been appointed and ]. c. Hendrix,
its chairman, reported favorably on the
proposed amendment. One of them in
creases the representation Of the state
associa L'onS in the executive council
from three to five and the other puts
the nomination of officers more largely
in the hands OF members of the conven-
ton instead of leaving 10 the council.
Both amendments were unanimously
adopted.
UNIFORM LAWS.
The report OF the committee on uni
form laws was read by Frank W. Tracey
Of Springfield, Ill. The report begins as
follows:
Your committee on uniform laws was
directed by the executive council at It's
meeting in April last to prepare, with |
ed. uniform law for commercial paper. |
Fortunately for the committee, there /
was published in the American Bank |
ers' Magazine for May, a negotiable n |
strument law which seemed to be /
better law for the purpose than any |
which we could possibly frame. Hon. |
Lyman D. Brewster of Danbury, Conn, |
president of the conference OF commits |
sioners Of uniform state laws. freely |
and heartily gave the committee au-
thority TO adopt il for Recommendation
TO your association"
In speaking Of the merits Of the new
law, the report says:
"A more useful or thoroughly prepar-
ed statute on commercial law would be
difficult to find. All the fundamental
principles and essential definitions OF
the law CT commercial paper, the law,
in short of some ten thousand reported
cases. is in substance condensed into
thirty-sx pages. The disputed points
whose discussion occupies so large a
share OF two and three-volumed treat
'ses on the subject are decided and har-
mon;ous.
This law has been already adopted
in the states OF New Jersey, Connect
cut and Colorado. II has became law
in New York, TO take effect in October
next"
The report concludes by recommend
ing the appointment OF committee 70
correspond with several state associa-
tons and look generally after the pass
age % the law by state legislatures.
BUREAU OF EDUCATION.
The remaining report on the program
was that OF the committee on formation
OF a bureau OF education, submitted by
Ca: rman William Cornwell He said IL
the bankers OF the United States would
establish a bureau and employ speakers
10 present the claims OF the bankers
properly before the public. men who
could in plain speech show the farmer
and others that Il the banks charge
high for accommodation. i is The fault
Of legislation ard not OF the banks them
selves, much OF the present hostility
which exists against banks would be re-
moved.
Letters favoring the idea OF such
bureau o. education were read from
Comptroller EckeIs and others.
The committee will be ready in a short
time with the first pamphlet 70 be is