Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-02-23
THE BANKERS MEET.
STATE ASSOCIATION IN SESSION
YESTERDAY AT OLD POINT.
ANNUAL ELECTION OF OFFICERS.
Resolutions Adopted Looking to the
Amendment of the National hank
ing Act and the Issue of an Elastic
Currency.

The virginia Bankers Association met
at old Point Comfort yesterday morning
at II O'clock. 1t was large and repre-
sentative gathering. and included the fol-
lowing delegation from Richmond: Messrs.
Mann s. Quarles, william NJ. Hill, r. H..
Smith. S. G. Wallace, John f. Glenn, j.
w. Slnton, and John A. Cullen.
Mr.. Caldwell Hardy, Of Norfolk, presi-
dent OF the association. called the meeting
TO order. Mr.. s. G. Wallace. Of this city,
acted as recording secretary, and Mr.. w.
Mac Jones as stenographer.
The morning session was opened with
prayer by Rev. c. Z. Bryan. and addresses
of welcome were delivered by President
Hardy and Mr.. Francis f. Causey, both
Of Norfolk.
Messrs. Mann S. Quarles. Of Richmond;
Colonel w. II. Taylor, OF Norfolk, and
Mr.. y. II. Williams, Of Chase City; Mr..
G. Hatton, of Portsmouth, and Mr.. Jo-
seph H. Parker. OF Portsmouth, were APP
pointed a nominating committee to select
officers for the ensuing year.
Mr.. r. w. Burke, Of the National VAL
ley Bank, OF Staunton, was unanimously
elected president OF the association. with
the following vice-presidents: Mr. w. H..
Lambert, of Alexandria, Mr.. u. V. D..
Conway, of Fredericksburg; Mr.. S. G..
Wallace, OF Richmond; Mr.. William Hill,
Of Richmond; Mr. Mann S. Quarles, Of
Richmond; Mr. Il. +. Miller, of Lynch
burg; Mr.. j. II. Toomer, of Portsmouth;
Mr.. w. II. Doyle, of Norfolk, and Mr.. j.
A. Wilett. Of Newport News
Mr.. II. a. Williams, Of the Metropolitan
Bank, OF Richmond. was elected secretary
and treasurer of the association.
The three vacancies on the Executive
Committee were filed by the election OF
the following gentlemen: Messrs. G.. j.
Seay, of Petersburg; j. II. Pattison, OF
Manchester, and j. ii. Scheduled, of Dan
vile.
A committee on banking and jurispru-
dence was elected, as follows: Messrs. a.
L. Boulware, of Richmond; Judge l.. Il.
Watts, of Portsmouth; j. NJ. White, OF
Charlottesville; Alexander Hamilton. OF
Petersburg A. II. Phleger. of Christians
burg; w. A. Glasgow, Of Roanoke; G.. a.
Schwelz, OF Newport News; ]. $. Elicit.
of Richmond, and G. NJ. Blackboard, OF
Lynchburg.
The Committee on Finance will be COM
posed of the following: MessEs. X. IL.
Smith, William HILL and j. f. Glenn, all
of Richmond.
President Burke acknowledged the honor
conferred upon him in brief and appro-
pirate speech.
The most interesting business Of the ses-
sion was the discussion Of the subject OF
Currency Reform"
The discussion, which was very spirited,
was precipitated by the reading by Mr..
Caldwell Hardy of an address delivered
by Hon. Charles n. Fowler, OF New Jer-
sew. a member of the Banking and Cur
rency Committee, on 1.-THE Financial and
Political Outlook" The principal speak
ers on the above topic were Messrs. Iay'
Tor and Hardy. OF Norfolk; Toomer, Hat
ton. and Parker of Portsmouth; Vest, oil
Newport News and Quarles of Richmond
The following resolutions, offered by
Colonel Taylor and amended by Mr.. Har-
dy, were finally adopted:
Resolved. That il is the sense OF this
meeting that the tax of 10 per cent. upon
the issue OF notes by the State banks
should be repealed, coupled with such
amendment OF the MISUNDERSTANDING act
as will authorize the issue OF an elastic
currency.
2. That all national banks should be
allowed 10 issue notes to the amount OF
the mar value OF bonds deposited by
them as security for such notes. and the
tax thereon should be reduced 10 one
fourth Of / per cent.
3. That some plan should be addressed
for the retirement Of the demand notes
issued by the government, that will not
bring about a contraction Of the currency.
Upon the invitation OF the Richmond
members. the association decided TO hold
their meeting next year in this city. the
time TO be decided by the Executive
Committee.
The reports Of the outgoing officers
showed the affairs Of the association 10
be on highly satisfactory basis.
The meeting was very successful i'm
every way. and the arrangements made
for the entertainment OF the delegates
at Hotel Chamberlin were eminently
satisfactory.