Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1902-11-13
BIG BANKERS
!. IN SESSION !.
N@~~-E
TO-DAY
hEEMW
HHH -ffstc-
PROCEEDINGS OPENED WITH A
NOTABLE SPEECH BY PRESI-
DENT MYRON T. HERRIcK.
MANY REPORTS MADE. ,s,....;

NEW ORLEANS, Nov, 1.-THE Ameri-
can Bankers associa ton began it's annual
meeting in Tulane hall this morning at 10
o'clock. The delegates were slow in APP
pearing and roll-call Yves dispensed with.
There was prayer by Rev. DR.. Beverly
Warner, and then addresses Of welcome
by Acting Mayor William Mehle, = City
Attorney Samuel L. Gilmore, on behalf of
the city; Professor w. c. Stubbss- on be
half of Governor Heard, and X NJ.
Walmsley, president, of the Clearing
House association, on behalf Of >he local
bankers.
President Herrick replied to- the well
comes and delivered his annual address.
The council submitted a resolution by
A. ]. Frame. of Milwaukee; opposing as
set currency and branch banking, con
sideration of whicha was postponed until
after the discussion OF that subject to-
morrow. .-C YElSEI-EZE "a sttl' ~
Secretary J. r. Branch's report showed
a present membership of 1854 with an an
nual income Of $67. 500. There was net
increase in membership during the year
Of 9S. ".-
Chairman F. s.. Bigelow, of the execu-
tive council, submitted a report, in the
course of which it was stated that the
currency plan of Mr. Hepburn was endors-
ed In so far as II suggests the Issuance
of currency by banks Of 5000 capacity and
$40 600 surplus or more, to the extent OF half
of their capital stock at a tax of 8 per
cent (one-half per cent a monthly
After hearing a number of addresses
the program was changed so that Con-
troller of the Currency w. B. Ridg1ey
could be heard. II ',t'
j. ]. Johnston, vice president of the Ma
rine National Bank. of Milwaukee, Wis,
spoke on The Scottish Banking System ."
Joseph @. BROWNE president. of Citizens
National Bank of Raleigh, N. c., spoke
eloquently on THE New South"
Second Days Session of Convention
NEW ORLEANS, Nov. 12.-The second
days session Of the American Bankers
association was resumed at 10 a. m. to-
day after prayer by Bishop G. A.
Rauxel
Under suspension of the rules Col: Rob
ert L. Lowry, of Atlanta, asked that Mr..
Kittridge the secretary of the bureau Of
education, be allowed to say a few words
about the Bank Clerks institute.
Mr.. Kittridge made a short verbal re-
port, in addition to the formal report made
yesterday. sfn "a,
John l.. Hamilton, chairmansof the com
mittee on fidelity Insurance. took up the
report of that committee. which was for
maIIy presented yesterday.
The call of states was deferred untn
later. @i
The discussion Of the currency ques-
ton was then begun. 'atf-
Congressman Charles N. Fowler spoke
on assets currency and branch banking
He discussed the features OF his bill ex-
tempore.
Congressman Fowler held the conven-
ton rapt In elotesi attention. BIS, dnap-
cial tenets are wei known, but 1t was the
logical aud eloaaehtl uoankar in which he
presented them which caught the CON
vention.i He did not spare the bankers
but criticised them with a. freedom which
won out by les force. He was given an
ovation when he had concluded although
more than once when he asked the con-
yention If Il did not agree with doctrines
he was expoundings he was greeted with
cries Of: Nor st7a-N"s e ~ 4t>