New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-06-04
TAX ON COUNTRY CHECKS.
GROUP VI DISCUSSES THE QUESTION AT
ITS SPRING, MEETING.

| yesterday in the Murray Hill Hotel. This group
| takes In the territory In counties along the
| Hudson River. north OF New-York County There
was first business meeting. then luncheon. and
| finally, over the cigars. series OF informal ad-
| dresses. c. F. Van Inwegen, the chairman of the
| gro up. presided. with Frank Barber secretary
M. Van 1nwegen is the president OF the First Ma
tional Bank. Of Port Jervis and Mr.. Barber is the
cashier Of the Sullivan County National Bank at
| Liberty
Among the others present W. Van Norden.
| president of the National Bank OF North America:
Alvah Trowbrldge, president Of the North Ameri-
! can Trust Company: Bradford Rhodes, president
| OF the Mamaroneck Bank. Mamaroneck: James VI.
| Brush, president Of the Bank Of Huntington. and
| chairman OF Group VII, the Long Island group; c.
| A. Pugsley. president OF the Westchester County
National Bank Peekskill: T. L. Wood Carpenter.
president OF the Mount Kisco National Bank: David
Cromwell. OF the White Plains Bank: Peter j. Eli
ing. president Of the Citizens National Bank. at
Yonkers: Henry F. Samms. vice-presdent Of the
Bank of Huntington; Edward d. Stannard. cashier
OF the National Bank of Brewster; Charles c.
Cocks, president: H. V. Clark vice-president and
H. r. Taylor, director OF the Cornwall Bank and
R. @. Brewer, cashier OF the Mamaroneck Bank.
AT the business session Mr.. Cromwell on behalf
OF the Executive Committee. presented a report on
the state OF business which was said to be gener-
ally satisfactory throughout the group and rather
better than at this time last year. committee
was appointed. with Mr.. Rhodes chairman, to
prepare testimonial to express the thanks Of the
group to the Sullivan County National Bank for the
way in which 1t entertained the members at the
annual meeting In Liberty last fall.
SUBJECT OF COUNTRY CHECKS RAISED.
When the informal speaking began. after the
luncheon, 1t was soon made evident that the re-
cent action Of the New-York Clearing House in i'm
posing a charge for handling country checks
was subject close TO the hearts OF most OF those
present. Even the New-York City bankers who
were present guests had something to say on
the subject. Mr. Van Norden, who introduced
as man who had had some experience In our
line Of business. took up the subject at once. He
said In part:
We New-York bankers rather perplexed just
at present because OF the recent action OF the
it falls on the just and the unjust ake-but per,
maps little more on the Just. because the un-
newspapers-or some of them-bankers are class
who have the good of their fellow-men at heart.
and incidentally dividends. When / was boy
used to 60 to The bank often for my father and
president when he sent for me one day: ! looked
on him as one Of the greatest men in the ,so WSrld
900. And still, although our bank has many
TS Of a @ oas End mysa
thinking Of that president with my old boyish
ec ba A narbans Tan efoSe think Of % the
same terrible man.
The community exaggerates the importance Of
bankers. Because some banks recently stopped
lending money on 'industrials." many persons
put check on that line OF investments, and that
the banks had reached an understanding to that
as know there has been no discussion. much less
mi matter Each bank Simply manages It's affairs as
may seem wise TO Its own officers. and II partic-
certain securities that is simply its own affair
There is scarcely even comfy among bankers
the recent dinner Of the Bank Of the Manhattar
Company: Some OF US noticed hne-looklng man
know him was a asked II It could be the pres
dent OF a certain large bank. and had to admit
dozen Of ms agreed that II mus, be the banker
IN question howevgr, though none OF US were SURE
and we asked him: why that man Is our water!"
Now as to this matter Of the out-of-town checks
we poor bankers have little 10 do In such matters
to have do our thinking you know. and
they do 1t. The committee fixes something up. and
tells US to vote for this. and obcdently do II.
Mr.. Van Norden then referred to the Populist
view OF bankers public enemies. He said that
a banker is like any other hard worker trying
to get living. but he must Of necessity be
conservator of the prosperity of the community.
else he could not hold the confidence Of those who
gave business TO him.
Before introducing the next speaker. Mr.. Van
Inwegen remarked II glad to know that It Is
the Clearing House which Is solely responsible for
this new rule about checks All OF us country
bankers know some OF you big city fellows who
never have thought OF such thing themselves.
am sure we are all glad to know who II was
that got up such job as that"
ALI. SIDES OF THE QUESTION.
Later on speaking a little seriously. Mr..
Van Inwegen explained that he personally did not
feel greatly aggrieyed by the new regulation. IT
the country bankers found that they had to suffer
why. they would make somebody else pay for H.
Mr. Trowbrdge discussed the subject in this wise:
There are two sides to this question-and per-
haps three First there is your side, and then there
is ours. We all understand that But there - a
two. and that is the man who makes check when
he has not got the money In bank TO meet H. ne
by the time ne gets back to his town-six eight
or ten days later-he will be able to raise the
Wew-Yor are not good when they start You
may doubt that, but ! know II TO he true wen,
plains that You will get check OF his the next
day. and he has not the money to m me- src, NON
send in more checks than others, because they nave
to buy in smaller quanes Good o G9rsT, y Snd
the question is Are you In order TO MAKE cens
going 70 acconn'D Dn ana YOU have more Of It
There is another thing to be considered; Banks
IN New-York are not selling merchandise. We
don't whether cotton goes up naIt a cent OF or
make an arrangement that shall make our business
pay are accused OF trying 20 s, sn e
other point is the position OF the postonce ana the
EXPRESS companies Often while a country Danker
is trying to make little business with two or
three checks the express companies WIN sell
dozens ~ money orders at 7 or cents apiece. In
1895 more than 10000 postofice money S orders
comnanies aid nearly rs much business In that
manner They come 10 us by the basketfui
/ give you this to think about While your Gus.
toner is pestering you with checks that are not
good the man whose check is good pays cents 10
The express company. Let the country bankers
and others get together and talk this over
The chairman read letter from W. e. Frew'
Of the Long Island City Bank. Mr.. Frew advocated
the establishing Of a country clearing house. which
would attend to these country checks. He said
that such clearing house would cost less proper
tionately thnn the New-York City Clearing House
Mr. pugslev talked on currency reform. He
declared that this country should have hxed
standard of value Interchangeable and the best