The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-08-20
l.. NJ. SHAW.

Central States with nearly 25.000 900 peo-
pie. Comparing States with approximate
S3il. "A per capita, Georgia with 5000 per
capita, Rhode Island s35l.62 per capita
Florida with s16.62 per, capita, while Az
kansas, with its untold agricultural pos
sibities. has only Sass per capita IN
banking credit power TO develop II; while
the general average OF the whole Union
is about nineteen times as great-s9S'69
90 ii we are 10. continue the I'M
scientific basis of bonds for note issues.
let the banks issue par on the bonds; III
the people actually need banks, let them
demand a reductions In the tax rate on
the note issuing feature. and allow a
hea Thy expansion.
THAT the needs or the country REQUIRE
small banks is indisputably proven by the
statistics of their organization Since
January 1898. 245 National banks haze
been organized. OF these. so per cent l9sl
have been $4,000 and under, and OF these
1913 II per cent (l49) have been OF the MN
imum capital allowed by law. namely So
900"
Would Branch Banks be Beneficial or
tho Reverse?" was discussed by William
O. Cornwell president OF the City bank
of buffalo, n. Y. lio said:
William C. Cornwell. president OF tie
City National hank OF BHhalo, w. ~.
In the United States be Beneficial or ~,
Reverse?' He argued that they Mpulf
be beneficial. and pointed out the Ellr :
penn system especially thai IN vogue ID
Great Britaia Ru; he said the ssue OF
notes without dcptsiting bonds TO secure
the same would be necessary TO make II
profitable He admitted asp, ma. NH, mn
would be danger of OVERCOMING by amp,
iio,lt managers OF the branches. ne
agreed that they would be OF great peias,
fit in times Of panic and thai they WV wv
| siarcment thu There Is only one for
nsasblc obstacle 10 the introduct on 81
branch banking in the United states, ailt
| that is the political one. BECAUSE "
| our unsound currency system, when pow
! tics VIII not allow 10 be- remed ca, We
have been working for years for noth,i,s;
| ms ness; concerns have made nothihS dlld
| have been steadily using up th.ar cah-
cal 49, NV fellow lahorers-husai,esS
men of the Unit / States, be not decelNva
| nv prosperity, as you were in lS's' put
INSIST that the cancer be cut out by leg
| lslaton that sound currHncy laws pc ~
| acted commercial freedom es'anA she so,
| and no chance left open for another "
or. worse sti }. for the annhiiation wh"h
would follow another '@'
Ffank W. Tracey of the First National
bank of Springfield, H., read paper on
the subject: what Can BE Done 10 IN
crease the Usefulness OF the American
Bamkers' Association?" Papers followed
on Currency Shipments Of Registered
Mail" by Charles r. Harmon. president
of the Iowa Bankers association and Elk
press Money Orders" by l.. Hiiiyef
secretary Of the Georgia Bankers asso-
citation.
I "A
yen,ion urging congress promptly to pro
vide for n competent non partisan currency
| commission to the end that sound hnancia
legislation may be speedily secured;
Joseph C. Hendricks of New YORK cit!
was elected presiden. OF the association
without a dissenting vote. The salilhs
; was not so smooth when 1t came to IN
election Of the first vice president. no
this place the nominating committee pre-
scented the name of Frank w. Tracey o
, Springfield H., and George II. Russell
, of Detroit. was named. Mr.. Russell wa
elected, receiving 205 votes TO 10 cast 10
Mr.. Tracey.
, The members Of the executive committe
elected were as follows: c. A. Cannon
New York; r. J Lowrey, Georgia j II
, Findlay. Pennsylvania; j. G. Sands. Yves
! Virginia The list of members of the eN
ecutive council named by the delegates
/. the various State associations are:
: Bigelow. Wisconsin; J. p, Branch, WI
= einIa; u. w. Garrett. Missouri; a,
Campbell, Mississippi; j. G. Hunter, NH
: nesota Z. II. Puilen OF New YORK pre-
q sentei the retiring president, X. j. Low
. rev with handsome gavel and the col
I ysntion adjourned cine die.
= The eecutive council held meeting &c
Z night and reelected Secretary James i
Branch to serve another year. At tn
y game time the council voted TO raise ii
: seeretary's salary to $4,000 a year, thi
: | move being made to retain Mr.. Eranel
whe had received an inviting offer from
: metropolitan bank. F. w. Hill was elscte
7 treasurer to succeed William II. Porter.
Alya II. Trowbridge OF New YORK VIZ
!. re elected chairman Of the executive couI
a I'll