Birmingham state herald., 1897-06-11
SOME INTERESTING 1ALES.
Indulged In By Members of the
 Bankers, Association.
DOES ADVERTISING PAYl9"
Was One of the Topics FaSOrabIy Discussed- Bank saxations and Other Topics
 Dwelt Upon-Trolley Ride, Etc.


 convened yes erday morning in the parlor of the Commercial Club at 10:SO o'clock, President Whiting in the chair.
 Alt the request of the president the fol- lowing who had not registered on the firss day added their namee to the roster;
 w.. H. KeBsig, Birmingham Trust and siavings company, Birmingham; Js'P. Mudd, Peoples Savings & Trust compa- ny, of Birningham; F. M. Davidsong Bank of, Warrior, Warrior; J. E. Max well, Alexander City Bank, Alexander City; G. A. Searcy, Merchants National Bank, of Tuskaloosa; W. P. G. Harding First National Bank, of Birm-ng ham; J. B. McMillan,. First National Bank of Tal- fadega, of Talladega; H. Lee Brown, Bank of Greenvifle, Greenyille; C. l. Woodruff, Annfston National Bank Of Annis on; J. Ellioti, Peoples Savings & Trust company, 'Birmingham; J. B. Cobbs Berney National Bank Birmingham.
 The first number on the programme was ar discussion of the question Does Plank Advertising Pay?" R. M Greene. of Opelika, opsined the discussion as-- suming the affirmative side of the ques- ton. As a general business principle ne was heartily in favor of 1t, but as. to bank advertising he was nos prepared 10 give a definite opinion .-
 s. Steinery of Birmingham, assumed the negative. being of the opinion thai bank advertising was not profltaple investment. gt@ e' Ist
 W.1P. c. Harding could not assume any view as his bank had only recently begunna advertising and he was not ready to give results
 MT Senauer, of the American Banker, being called upon spoke freely on the SUD jeot5 Being fnJthez printing business hiS views,were consldETed worthy hearing T fO raf1f larger banks of the country, he said, wers large advertisers and with this as bai sis he was of the opinion that |. was q profitable investment. He referred to banks An1 New York, Chicago and other large citiesywih placed their business be fore the public Tn advertising the banks were rewarded by ell aiming coun " bus+ mess which always proved profitable.
 The next subject was Flank Taxatien in Alabama" Mir Moody, of Tuskaloosas was frs. called upon and he reviewed a recent5sdecisions of the supreme court on the subject,. He asked and answered the question whether the banks enjoyed priv ileges and protection and advantages in a civilized country-Iwhether machinery of justice and order established in lhes civilized country is OF any benefit tos the banks? The banks, he said depended on privileges and advantages of the civilized. country to keep off robbsrs and to aid in ;collec. ing and affording protection. Banksp he safds should be willing to be burdened with a jusf tax. It was some T thing strange to him that the question had been so long undecided in. Alabama. Every legislature had touched upon ehe subject, but nothing definite had been accomplished, Banks are as fairly treat- ed, he thought, as any other organlza- tiont The, speaker here read the decision of the supreme court in the case of the Jefferson, County Swings Bank vs. Hew- it on the subject of taxing every share of stock of the bank. It was hardship, he thought, to tax real estate in the hands of corporation and tax. also, each share of stock. ; This. he said, would nec- essarily be double tax. This was the condition of affairs up to the sitting of the last legislature. While the last leg islature era,ad this seel. ion, he said, the next revenue bill is liable to have fl efn- bodied therein, This. the banks and cor porations should watch and guard against As the law now stands inc banks pay th.dr jusl. dues.
 It was moved that the execlutive com mittee of thetnssociation wa.ch the reve- nue laws when ithte4nax, legislature meets in order that the interests of the organi- za.ion might be served. The motion pre- vailed. :. f. 5'i
 It was suggested that when the next executive committee was selected, its members be chosen from the same town so that the committee could do some work. lsr JT3-f- t
 A report was received that the treas- urer has s5.60 to the credit of the asso- citation.
 Mir s. SteNrsr moved that the Alabama Bankers association memoriallza the Alabama congressman and senators to work for the reduction of taxation on circulation, and that ma tionaf banks be allowed to issue legal issues at par value of bords. It twas secc-ds sd by MT. Kett'g.
 MT. Ccbbs, of the Bfrnege Naticnal
 
 that ths matter should go to the Ma tionsl sssociat ton before going to the CO., gressmen or senat tors.
 Currency legislation is the most inn portant subject looking to prosperity." said Mir Stei'rer. Tt is a loss to na- land am not selfish in this movement. Alabaina is a lealting state, and ths act on referred to would be an impetus for good" tei 7ft@ x
 Mir Cobbs offered an amendment that the matter be referred first to the Ma tional association. which Mir Steiner ac- cepted.
 Mr Moody, elf Tuskaleosa, asked that the motion be divid.d. He favored. the reduction of taxatjon. but he was not prepared to vote on the other part. He spoke against astredeemable dollar com, monly called tfia fiat dollar. He was not in favor of dollar which had to be re- deemed, and w1anted the government and not the banks to carry gold for redemp- ton purposes.
 . MT. Steiner thought that banks should bei allowed to issue money on face value of bonds al par value. and opposed a sep- aretion of the proposition
 MT. Alex T. London was allowed the floor. He Thought ttat MT. Steiner:si motson wasr2 one to issue more money He said the banks would issue money as t1ng as' 1t was profitab ble. He advocated the two propositions going tog ether.
 An amesdment to the ame ndment was offered to the effect t71st the state asso- ciation memorialize both the National as- sociatdop Of shanksars and the representa- tives at sWashin ngton.s
 A iiscifssion followed as 10 the duties of the government redeemfng issues.
 Mir Steiner argued t11at the retirement of ereenbhHks and the Issuance of notes at low rates by national banks would re- Meye the ctfrrency question.
 "A vote was taken and it was decided to memorabilia both tine National Bankersf association and the representatives Tn conrrers on f7se two subJ-cts.
 MT. S. stefner spoke on thr subject of Al bank supervisor for Alabama The