The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1906-10-18
TO AMEND RATE BILL.
A Committee Of Bankers win Move
on Next Congress.

st. Louis No, Oct. 1s.-Elastfc cur
rency and currency reform constituted
the paramount topic at today's session
OF the convention of the American
Bankers association. Several efforts
were made yesterday by different dele
gates to bring the subject before the
convention for discussion and action. but
counter efforts were successful in
thwarting this purpose for the day in
order that routine reports might be
presented. There was not sufficient
time for the submission Of all the re-
ports and number went over until to-
Gay.
The session was opened with prayer
offered by Rev. H. s. Bradley, pastor OF
st. Johns Methodist Episcopal church,
south of St Louis.
Immediately the hearing of reports
was resumed. the first being the report
OF the clearing house conference com
mittee, by Secretary Frederick E.
Earnsworth, of the Michigan Bankers
association, Detroit The report set
forth that unquestionably the evil OF
country checks and par points is and
has been for some years one Of the
most important subjects which the
banks have had to consider. The report
stated that efforts are being made by
the clearing houses of the country to
eradicate the evil but that many of the
clearing houses have poor systems Of
rules looking toward the accomplish
ment Of this result, some of them being
without even an effective organization
and the committee believes that the
work should be carried out on broader
lines and more scope. The committee
heartily recommended the adoption OF
Ihe proposed amendment to the bylaws
Of the association by the addition of q
section to be known as the clearing
.-4f Il he,
given representation on the executive
council. Such q section would then be
IN position to greatly push the work in
hand.
The report Of the bill of lading com
mittee was presented to Chairman
Lewis e. Pierson. president Of the New
York National Exchange bank. New
York City The report dealt with the
methods of handling bills Of ladfng by
banks and called attention to the i'm
portancs Of legislative regulation. Ma
tional legislation concerning domestic
bills OF lading would vastly benefit in
terstate commerce. The committee rec
commended that there be presented TO
congress in December amendments
to the rate bill, to follow the
existing bin of Iading clause. that will
provide negotia biIity for bills of ladfng
when issued in negotiable form. and
also define the rights and liabilities of
the parties thereto. to the extent neces-
sary to safeguard the reasonable rights
of those advancing value upon such
documents with due regard to the naA
ture Of the business and the relation,
rights and duties of the carrier.
A resolution was adopted that the
secretary of the association be directed
90 mail within 80 days to all bankers,
members of congress, each clearing
house association. chamber of com
merce board of trade and shipping as
ISOLATION in the United States copies of
the report Of the bill Of lading commit
tee ana that every banker be urged to
use his besg efforts to secure the adop-
ton by congress Of the committee rec
=onmenda ton.
Mr.. Yeijiro Ono superintendent of
agencies, Bank of Japan, was intro
duced and addressed the convention on
the topic Some Financial Aspects Of
the Late War"