Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-10-18
Bankers CONVENTION
TOOK DECISIVE STAND.
IN FAVOR OF THE REPEAL OF THE
NATIONAL BANKRUPT
LAW.
SAYS IT HAS SERVED PURPOSE
ANY FURTHER CONTINUANCE OF
IT'S OPERATIONS
Will Work Hardship to Both
Debtors and Creditors--Copgress
is uxged to Act--A Memorial TO the
Late President Mckinley The
New officers Elected.

MILWAUKEE,, Wis, October IL
The closing days session of the Amer
lean Bankers Association was devet-
ed to a continuation of the discussion
of practical banking question.
After a prayer by the Rev. J. Bev-
erldge Lee. of Milwaukee. President
Trowbridge introduced p. C. Kaufman,
of Tacoma, Wash. who spoke on "The
Financial and Commercial Future of
the Pacific Coast"
Walter d. Coles. of ST. Louis, Mo-,
was the next speaker His subject was
The Bankruptcy Law" He said in
part:
1.-THE present bankrupt law unques-
tionably embodies many of the essen
tial provisions necessary to sound and
efficient insolvency system. 1t would
be far from the truth, however. to con-
slider 1t as free from defects. These
defects while oppressive and unjust in
effect, are not fundamental or IRENE
diable in character. Organized and
systematic effort is now being made
by the national association of credit
men and by other influential CONNER
eial bodies to remedy, by proper
amendments, the evils resulting from
the faulty provisions OF the law"
A bill reported favorably to Congress
at the last session. be said, would, II
enacted, give relief against the present
unjust provisions OF the act concern
ing the surrender of partial payments
and would also throw additional safe
guards around the granting OF dis
charges. This bill would be pressed
for consideration at the coming ses-
sion of Congress, as 1t was confidently
believed that its passage would give a
bankrupt law which would prove So
cially advantageous in restoring to use
ful activity incolvent debtors held in
the thrall of debt; in providing for
creditors Just remedial process tend
ing to promote conservatism in busi-
ness and in establishing throughout
the Union an equitable and uniform
method of administering the estates OF
insolvents, thereby fostering trade and
STRENGTHENING credit among the mer-
camille classes.
James II. Eckels, of Chicago, former
comptroller of the currency, was in
troduced to the convention by Presi-
dent Trowbridge at the conclusion OF
Mr. Coles paper. Mr.. Eckels spoke on
Assets Currency" In introducing his
subject, he said he felt that 1t was get
ting to be very old story
The following memorial on the death
of President Mckinley was presented
by President Trowbridge:
In Memoriam.
eve. the members of the American
Bankers Association, are saddened by
the death of our honored chief executive
William Mckinley.
Ellis fame rests securely In the nation
that he loved and helped to save.
I'VE acknowledge TO the fullest our obli-
cations to his memory and desire to put
on record this simple testimony to his
high character and pure life.
Most deeply do we sympathize with
Mrs Mckinley and his family, who have
sustained much greater loss, and may
this In some small degree testify to our
love and respect for him and our sorrow
for his death. .
(SlgneD "P G. kAUFFMAN,
"MYRoN T. HERRICK,
~. r. MULVANE,
&C. A. PuGSLEY,
~ W. WHITING,