Northern Wisconsin advertiser. [volume] (Wabeno, Wis.) 1898-1925, 1906-07-19

Milwaukee, July 16-With the cleo
ton of officers, the reading of the re-
port OF the committee on burglary and
indemnity assurances and time lock
cleaning, in which the sensational
statement was made that com
Dlne, or conference" as the report
put 1t, has been discovered to exist in
the United States between a number
Of leading bond and surety companies,
and the adoption of resolutions endors-
Ing the currency improvement propos-
itlon OF the ew York Bankers asso-
citation, the Wisconsin Bankers asso-
citation reached final adjournment at
noon yesterday, after holding the
best convention in the history of the
association of IL years.
Carr Elected President,
F. j. Carr, cashier of the Bank of
hudson, was unanimously elected pres.
ident of the association.
John T. Sherman, cashier of the
Citizens National bank of Appleton,
received the unanimous election as
vice president; j. H. Puelicher, cash.
Ter OF Marshall & Ilsley bank, Milwau-
kee, was unanimously reelected secre-
tary, and e. F. Williams, cashier of
the bank of Delavan, was unanimously
elected treasurer.
Executive Council Named.
AS members of the executive coun-
Gil, the committee on nominations re-
ported the following and they were
unanimously elected: George w.
Strohmeyer, president of the Milwau-
kee National bank; Arthur H. Lind
say, cashier of the Marine National
bank, Milwaukee, and C. A. Rudouist.
Ashland
A. j. Frame of Waukesha was ap-
pointed by President Banks as the
delegate from the Wisconsin Bankers
association to confer with other dele
gates from various states, to confer
with the special committee of the New
York chamber of commerce and The
legislative committee and the legisla-
tive committee of the American Bank.
ers' association, for the purpose of
discussing the question of improve
ment and uniformity of the currency
laws.
New President Is Young Man.
]. F. Carr, the new president of the
Wisconsin Bankers association. has
been in the banking business at Hud.
son for the past ten years. Although
SUN a young man, he has for some
time been decidedly popular in bank
ing circles, and he has been particu-
larly active in the work conducted the
past year in the groups which are
now a factor in the association worE.
The new president was empow-
cred to select vice presidents in the
various congressional districts.
Trust" in Bonding Companies.
In the course of the report to the
convention by the committee on burg
larry and indemnity insurance and
time-lock cleaning, made by the char
man, George D. Bartlett of Stanley.
the declaration of the quite recent
discovery of the undoubted existence
OF trust, combine or Conference
rule, existing among a number of the
leading bonding, indemnity and burg
larry insurance companies in the
United States was made.
This discovery was referred to by
Chairman Bartlett in the following
reference, in connection with the eff
forts OF the committee to secure fer
the Wisconsin Bankers association
the best uniform terms and condi-
tons relative to burglary and indep,-
nifty Insurance.:
about six weeks before the COM
mittee started it's Investigations on
burglary and indemnity insurance
nearly all of the burglary insurance
companies doing business In this
country had held conference and
as a result of that meeting a certain
schedule of rates covering all classes
of safes in all classes of localities had
been agreed upon, said to be based up
on years of experience. The commit
tee found that the Metropolitan Surety
company was entirely outside of the
combine.
These conference companies, in or
der to deal a blow to this non-confer-
ence company, have now notified us
of their willingness to place the
banks of our state in division No.
of their schedules, and upon this So
called deathbed confession ask for the
burglary insurance of this association,
which we declined to recommend as
against the non-conference company
whose proposition to place US in the
division of schedules to which We
properly belong will result in saving
the banks of Wisconsin from 25 to 40
per cent Of their burglary and indem
nifty insurance"
The recommendation Of the com
mittee as to placing its burglary and
indemnity insurance outside the al
legged trust WIS unanimously endorsed
by the association in It's resolutions