The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1899-06-14
B4NKERS ORG4NTzE.
REPORT of the Committee Appointed 40
Recommend Plan for Clearing of
Cheeks.

Necohnend Fian Tor Clearing on
Checks.
Hartford, June 13.-An adjourned
| meeting of the officers of Connecticut
banks was held in the Hartford board
of trade rooms this afternoon at 2:15
for the purpose of effecting perma-
nent organization and listening to the
report of the committee of five recon-
mending certain changes in the present
facilities for collecting country checks.
About forty bankers were in attend
ance
The meeting was called to order by
Charles S. TroWbridge, cashier Of the
Mechanics Savings bank of New Ha-
ven.
President Trowbridge announced that
the first business of the meeting was to
organize the Connecticut Bankers asso-
citation, as per the vote of last meeting.
W. H. Newton, cashier of the First Ma
tional bank of Wallingford, moved that
the temporary organization be made
permanent
M. H. Whaples of Hartford said that
he thought the report of the constitu-
ton and bylaws committee, consisting
of c. Fl. Pine of Ansonia, w. Z. Seely
of Bridgeport and w. E. Atwood of New
Britain. should be read first.
Mr.. Newton Withdrew his motion.
The drafted constitution and bylaws
We're then read by Chairman Pine M,
H Whaples of Hartford moved the &C
ceptance and adoption of the report, and
it was carried.
Charles e. Curtis, vice president OF
the City bank of New Haven, said that
he thought that Hartford, being such a
great banking center, should be honored
with the presidency of the association.
He nominated M. H. Whaples for the
office. and the nomination was greeted
with applause.
Mr.. Whaples declined the nomination
in a happy speech. He nominated G. IL.
Pine of Ansonia. Mr.. Pine declined the
nomination and said that Mr.. Trow-
bridge, the temporary chairman, had al
ready proved himself to be a capable
man for the honorable position.
The names of Mr.. Trowbridge for
president and Robert Foote, cashier of
the National Tradesmen's bank of New
Haven, for secretary were then placed
in nomination, and they We're duly
elected.
w. e. Seeley of Bridgeport was elect
ed vice president and George II. Burt
of Hartford treasurer.
The. executive committee chosen IS as
follows: Charles e. Curtis of New Ha-
ven, w. H Newton of Wallingford, M.
II. Whaples of Hartford, a. Chamber
lain of Meriden and F. c. Burroughs OF
Bridgeport.
The report of the committee, consist
ing of those who were chosen the eX-
ecutive committee, recommending
changes in the facilities for collecting
country checks, was read by the secre-
tary.
The committee appointed at meeting
of bank officers of Connecticut held IN
Hartford May IL, 1899, to formulate
nlan for clearing Connecticut checks,
beg leave to report as follows:
1--WE have also considered the advlsa-
bility of establishing Connecticut
clearing house, with headquarters at
Hartford or New Haven. our conclu-
sions are as follows:
"That the existing connection between
the several Connecticut banks should
not be severed until it is absolutely DEM
OnSLfalpu llldl Il ulllSlSiiN
lecting is preferable
THAT no system of country clear
ances' has as yet been carried out III
any state of the Union and that Bos-
toms New England clearing house is an
experiment the success of which is yet
in doubt.
"That the establishment of a Connec-
ticut clearing house, for the collection
of items drawn on the banks OF the
state. would in many cases, delay by
one day the presentation of cheeks al
though it might afford settlement as
often as twice a week; that such
clearing house system would Involve
EXPENSES for management TO conslu-
cradle amount; that it is very unlikely
that all the banks would conform 10 the
plan.
1--WE recommend the continuance Oh
tbe existing method of collecting CON-
necticut checks, with some modification
of the customary period of settlements.
Mr.. Pine of Ansonia was opposed TO
the association taking any action on
fine recommendation of the committee
Of +odav's meeting.