Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-06-03

careful consideration the question of
uniform rates of exchange, that will be
submitted, l hope, by the committee
appointed at our last convention to re
port on this subject and with the view
of adopting a uniform system of eX-
change, if such q plan appear to be
feasible. had the honor of bringing
this question before you in my last
annual address, and | trust it will be
found practicable for a definite policy
TO be reached on this important matter
The question of interest on deposit,
I am aware. is an intricate one. The
custom has become so interviewer with
our system that the problem of eradi-
eating il and relieving banks where
business does not legitimately contem-
plate this draft on their resources, is
so complex as to discourage effort look
ing to this needed reform. Neverthe-
less. in view of the keenness OF com
petition in the present day and the
natural tendency toward the curtail-
ment of just and legitimate sources or
profit. it would seem wise and desir-
able to preserve in our efforts to abol-
ish the custom or at least to mitigate
its evils and adopt restrictive measures
looking TO its limitation within reason
able bounds.
The president congratulated the as
sociation upon its growth. there being
now 5S enrolled members out of lO4
banks in the State. He also felicitated
the banks of the State upon the note
worthy tribute to their stability and
conservative business principles in sue
cessfully weathering the storms and
perils of the past few years.
THAT the conduct of our banking in
stitutions in West Virginia is without
a blemish, both in the integrity of
their management and their rigid adj
herence to safe business principles,
justifes us in contemplating our bank
ing system with a keen sense of salts
faction"
Secretary L. E. Sands submitted his
annual report, showing that the mem
bership had increased from 3S to SO. He
also reviewed the failure of the Legisla-
ture to pass Judge Haymond's bill TO
abolish days of grace He urged thTt
the fight in that direction be kept up.
The report of the treasurer shows
receipts Of $5O5.46, disbursements Of
S22S.O3. and a balance of S277.49. A
number Of letters of regret were read,
including one from Senator Faulkner
and one from Senator Elkins. Mr..
Eckels also expressed his regrets.
Mr. J. E. Sands, the delegate to the
national association, submitted his re-
port.
A committee was appointed to pre-
sent resolutions of regret at the death
of P. B. Dobbins.
A telegram of fraternal greeting was
sent the Maryland Bankers Associa-
ton. now in session, and an auditing
committee and a committee to select
new officers was appointed, all to re-
port tomorrow morning.
The remainder of the afternoon ses-
sion was given up to general discus
sion upon various topics, and in get
ting the session started generally upon
the work.
Cashing of express money orders was
one Of the topics largely talked about,
and the verdict was adverse to the
practice. and took the form of de-
mand for State legislation regulating
the issuance of express orders.
Out of this grew movement for
standing committee on legislation, but
nothing definite resulted at the time,
a motion for a recess carrying while a
resolution was being drawn.
The association reassembled shortly
after S. During the interval between
sessions there had been a good deal
of private discussion of the proposition
to express money orders
and il was held by several gentlemen
that such orders were absolutely es-
sential to the transactions Of business
in small towns without banking facili-
ties and that it would be the part of
both wisdom and justice TO let things
alone. Colonel O'Briel particularly
held to these views.
The matter was not taken up imme-
diatelv. the first business being a paper
bv Cashier w. H. Furbee, cashier of
the First National Bank of Manning
ton. his topic being, How to Figure
What an Account Is Worth to You
His paper was a very able one and was
listened to with attention. His re-
marks about the undesirability of
buying business at auction" were very
much to the point.
Several new delegates came in dur
ing the reading of the paper. and the
were interrupted to record
the names of J. L. Caldwell, First Ma