The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-10-22
THE BANKERS, ASSOCIATION
on the Death of NcKinley-For Re-
peal of Bankruptcy Law

Milwaukee, Wis, October 1.-THE
closing days session of the American
Bankers Association convention was
devoted to a continuation of the discus
sion OF practical banking questions.
After a prayer by the Rev. ]. Bever-
idge Lee, of Milwaukee, President
Trowbridge introduced P. c. Kaufman.
of Tacoma. Wash, who spoke on the
financial and commercial feature OF
the Pacific coast.
Walter D. Coles. of St. Louis. was the
next speaker. His subject was thebank-
ruptcy law.
James II. Eckles, of Chicago, former
comptroller of the currency, was intro
duced to the convention by President
~Trowbridge at the conclusion of Mr..
Coles paper.
Mr.. Eckels spoke on assets currency.
The note issuing functions of the
country. he said, are not what they
ought to me. He agreed with Secretary
Gage that the financial system had not
reached that point of development
where a people of so much progress, so
much energy and force as the people
of the United States have a right to ex-
pect that it should. He would like to
see legal tenders of the government re-
tired as there is always a possibility Of
their reissue in a form that will be det-
rimental TO the country. He would
like to see the adjustment of the SUBJ
treasury of the country. 1t stands as
a menace to the trade and commerce
of the country because it locks up the
money. The sub-treasury should be
conducted as is the business of a pri-
vate individual or large corporation.
He would restrict revenues where the
nrn6if of tho 0nr1nfr could ha ~,ointofn
ed. He believed in great banks and a
branch system of banks.
The following memorial on the
death of President Mckinley vas pre-
sented and adopted by a rising vote:
1--WE. the members of the American
Bankers Association are saddened by
the death of u honor chief executive,
William Mckinley. His fame rests Sc
curely in the nation that he owe and
| helped to save.
1--WE acknowledge to the fullest our
obligations 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 lave
sustained SO much greater loss, and
may this in some mall degree testify
TO our love and respect for him and
our sorrow for his DEATH"
The list of officers as reported by the
committee was elected as
follows: President, NJ. E. Herrick
Cleveland; vice president, G. Hardy
Norfolk; chairman of executive coun.
Gil. F. G.. Bigelow, Milwaukee,; treas.
urer, G. NJ. Reynolds, Chicago.
The new executive council elected
James r. Branch. secretary.
J. S. Davis, of Georgia, introduced
h following resolution, which was re.
ferred to the executive council:
Whereas, The bankrupt act has hat
time to serve the purpose intended bJ
congress, to give relief to the homes
oppressed debtor and,
Whereas, It's further operation will
entail loss upon both the creditor anC
debtor class and the general public b!
reducing lines of credit, restricting bus
mess thereby checking the wonderful
development of the country promised
through right conditions, therefore, b.
1t,
Resolved, That this c%onventio,
through the executive council of tn,
American Bankers Association memoir
ialize congress to repeal the bankrup
aw.
New Orleans and Memphis extended
Invitations for the nex convention
The place of meeting will be chosen b,
the executive council at a meetin.