The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1899-05-12
CONFERENCE or BANKERS.
Financiers from Various Parts of thu
State Discuss New York Rule for Checl

Financiers from Various Parts of the
State Discuss New York Rule for Check
Collections.
Hartford, May 1.-THE conference of
Connecticut bankers, called by William
H. Newton, cashier of the First Ma
tional bank of Walingford, to consult
regarding an arrival at a more favor
able system of clearing their checks,
was held in Putnam Phalanx armory
in Hartford yesterday afternoon.
Mr. Newton explained that the new
rules of the New York clearing house
affect seriously the interests of Con-
necticut banks of the discounting, New
conditions governing the collection of
checks involve the question Of changes
between city and country banks
The following resolution was prepar-
ed by Mr. Newton previous to the call
ing of the meeting to order.
whereas, The present system of col
lecting checks in our own state is eX-
pensive annoying and wholly inadequate
to meet the requirements of the large
and increasing volume of business
transactions by the use of such checks.
''And, whereas II is the sentiment of
this meeting that system of clearing
Connecticut checks should be establish
ed
Resolved, That a committee of five
be appointed to formulate a plan for
such system"
Among the bankers attending were
the following: C. L. Rockwell, Meri-
den; William Fl. Newton, Walljngford;
w. j. Leavenworth, Walingford; A.
Chamberlin, Meriden; John A. Richard
son, New Haven: R. Fl. Lathrop, Will
limantic; c. B. Holmes, Winsted;. Frank
D. Hallet, Winsted; John III. Sage,
Portland w. e. Atwood, New Britain
A. J. Sloper, New Britain; I. B. Prin-
die, Bridgeport; Charles III. Colt, Itch
field r. w. Cutler, president of the
Hartford Trust company; George H.
Burt, of the State bank.
1t was 2:25 when MI Newton called
the gathering to order. He nominated
Charles H. Trowbridge, cashier of the
Mechanics Bank of New Haven, for
chairman, and Mr. Trowbridge was
unanimously chosen. Mr.. Trowbridge
referred briefly to the Importance of the
conference. He then called for the
nomination for secretary. George II.
buTl, cashier OI Liz oldlt phDh VI
Hartford, was nominated but declined
Robert Foote, cashier Of the Trades
mems National bank Of New Haven,
was then nominated and chosen; D. A
Alden, cashier of the Merchants Ma
tional bank of New Haven. making the
nomination.
William E. Seely, president of the
First National bank of Bridgeport,
was nominated for first vice president
and W. S. Bridgmap, cashier of the
Hartford National bank for second vice
president. Both We're chosen.
Mr. Newton then offered his resolu-
ton, printed above. He spoke in its
advocacy. He said that country banks
are Disseminated against. New York
exchange is at a discount every week
in the year in his town, Wallingford,
New Workers charge ten or fifteen cents
for dlscounting New York banks are
trying to get depositors from Connecti-
cut "Our customers find 1t advantag-
eous to open accounts in New York
banks he insisted. I'VE can relieve
that"
Mr.. Alden moved the adoption of the
resolution.
The committee was nominated from
the floor as follows: Charles r. Curtis
of the City bank of New Haven, w. S.
Newton of Walilngford, A. J. Stougtton
of New Britain (declined), Charles H.
Pine Of Ansonia declined, Meigs Fl.
Whaples of Hartford President Cham
berlain of the Home National bank of
Meriden. F. c. Burroughs of the City
National bank of Bridgeport.
Mr.. Newton moved that the gather
ing resolve itself into an association to
be known as the Connecticut Bankers
association, and that it's temporary or
ganization continue till the second
Tuesday in June.
Meigs H. Whaples spoke in regard to
the action of the New York clearing
house and characterized it as incon-
siderate and arbitrary to the last de-
gree.
Continuing, Mr.. Whaples said that
the bankers Of New York establish a
ruling that is hardship. During the
past year country banks have deposited
with metropolitan banks 100000, 900. A
president of New York bank in