Omaha daily bee., 1902-05-14
BANKERS DISCUSS BUSINESS
Noted FinanCiers Attend the Convention
and Talk on Important Topics,
BRANCH BANKING IS CONSIDERED
Horace White Advocates the System,
While Henry w. Yates of Omaha
Speaks I'm Opposition
to 1t.

KANSAS CITY, May 13.-Bankers associ-
atoms Of Kansas and Missouri and Okla
homa and Indian Territory met in joint
convention here today and with many east
ern hnanciers of note present, listened to
addresses on various topics. Five hundred
delegates attended the different sessions,
which will be continued tomorrow. The
different associations held separate meet
ings in the forenoon, gathering in joint
session in the afternoon and closing the
day with a reception at Convention hall.
At the morning meeting Of the Missouri
association Gordon Jones of st. Joseph.
president Of the state association, delivered
his annual address, during which he said
that there was cause for felicitation in
the fact that a fixed and certain standard
of value for a basis Of trading had been
established. Mr.. Jones said that in order
to remove the last vestige of doubt further
legislative measures were contemplated.
He was glad that coupled with this pur-
pose an effort was being made to give the
country an entirely new system of banking,
Expansion Iden Popular.
1.-THE expansion idea," said President
Jones, has found favor in the minds OF
many able fnanciers, and the promoters OF
progressive banking are urging the passage
Of laws giving the banking business more
extended privileges"
Mr.. Jones spoke in favor Of an elastic
currency and also dwelt on the advantages
that would be gained by this part of the
country, financially and otherwise, through
irrigation Of the arid lands Of the west.
Thomas B. Patton of New York, editor of
the Banking Law Journal, delivered an
address before the Missourians on THE
Evolution Of Banking Law"
Mr.. Patton spoke on the laws which gov
ern the business dealings of bankers. He
showed that the formation OF the law gov
erning bills. notes, checks and the DEAL
ings Of bankers is the result Of a peculiar
process. 1t consists Of a body of rules
which have been built up piecemeaI by
judicial decisions founded on custom. 1t
has grown out of the disputes of men. The
process originated in England and has con-
tlnued in the various states since the
American revolution. =:
onhic of State Laws.
Mr.. Patton pointed out many instances OF
conflict of state laws and showed, as the
result OF the present condition of the law,
made up so largely OF Independent and an
tagonistie state rules, that great losses are
caused TO the mercantile and banking COM
munity and that commercial transactions be-
tween the states are hampered,
OF late years the condition of the law
governing bills, notes and checks when
used in interstate deals has been improved
by the enactment of the uniform negotiable
Instruments law, which, up TO date has been
enacted In seventeen of the states and
territories, besides the District OF Column
bia. The Improvement and unihcation OF
the laws upon other matters, not covered
by the national instrument. which enter
into the interstate dealings of bankers and
merchants must be hoped for in the course
OF time, when all the state legislators aci
in Uniform accord, and When all the Judges
come to think alike.
In the afternoon all the sessions met IN
Joint session in the Grand opera house
This session was taken up with a discussion
of the topic, Branch Banking Horace
White, editor of the New York Evening
Post, who was the FIRST speaker, took a
stand In favor Of branch banks. He said
in part:
Advantage of Branch banking.
There is a wide diversity Of opinion ir
this country as to the advisa bility OF
branch banking and this diversity exists
largely among bankers themselves. The
doctrtnaires, the college. professors the
economists. are generally In favor Of
system upon the national bankers against
their will. Patriotism is not concerned II