The Birmingham age-herald., 1907-05-18
BANKERS ARE HERE FROM ENTIRE STATE Governors Address is Feature
 of First Day PAY VISIT TO STEEL PLANT WexIer. Talks on Currency Reform" Interesting Report Made By Leeis-
 Iatlve mmittee-WeIcomed
 By Lieutenant Governor. ]
PAY VISIT TO STEEL PLANT

ball room of the Hillman hotel yesterday
 morning with the largest attendance in
 the history of the organization. Bankers
 are in attendance from all I,arts of the
 state. as we'll as several prominent bank
 CTS from different sections. of the coun-
 try. Among them being G. s. Whitson,
 president of the American Bankers asso-
 ciation and vice president of the City
 National bank of New York The yellow
 badges pinned on each delegate are very
 much In evidence and the lobby of the
 banking in all it's phases.
 Delegates began arriving Thursday
 night and every train coming into Bir-
 mingham since has brought it's quota.
 A trolley ride and visit to the indus tries of the Birmingham district were
 made yesterday afternoon and formed
 very pleasing diversion A trip was
 taken through the steel plant at Ensley and everyone was enthusiastic over the trip.
 Comer's Address Is Feature.
 The principal feature. of the day, how
 ever, was the address of Governor Conner
 on 'The Railroad Problem" This is one
 of Governor Comer's favorite subjects,
 and he thrashed it out thoroughly. The report of President McKleroy and the
 address of MT. Sol Wexler, vice presi-
 dent of Whitney Central National bank,
 New Orleans, last night, however, created
 ar fr11v dY larfe ,t.
 ject was Currency Reform and he at
 tackled it from all sides. MT. Wexler stated that he had selected the subject Currency Reform" because though the subject was not new one, the general public appeared to be in ignorance of it,
 and he thought that his throwing light
 on the subject would not only advance
 the interests of the banking community,
 but of the entire country as well. Mr. Wexler explained elastic currency, and in order to make his remarks more comprehensive explained the various forms of currency existing in the United
 States. He expressed his opinion as be- ing that the essentials of a sound credit
 currency under our present conditions are:
 l. Maintenance of the present value and | market for government bonds. 2. The safety of the notes of all banks must be absolute and the redemption of the notes of failed banks must be as- | sured
 3. Possibility of imitation should be ab- solutely prevented.
 4. Adequate, convenient and inexpen- sive means of redemption must be pro- vided.
 Following MT. Wexler's address Claude G. Bryan of the executive departm Ocean Accident and Guarantee corpora
 tion, New York, made an address on Bankers Associations in Burglar and
 Bond Insurance" MT. Bryan explained the connection existing between some Bankers associations and the burglar
 and bond insurance companies fully, using
 quite few figures in his address. Then followed an address by H. L. McElderry, president of the Talladega National bank, on '"rhe Peoples Inter est" Mo McElderry said that he was but three-months' old baby in the bank ing world, but he handled his subject like veteran, showing the relative posi-
 tions of the people and the banks and
 just what each deserved at the hands of the other.
 Legislative Committee Reports. The report of the legislative committee
 was then made by MT. W. P. G. Hard ing, which was unanimously adopted. The committee was thanked for their excel | lent work and discharged. It was moved | that the committee be reelected. but MT | Harding stated that it would be impos- l sible to give 1t the proper attention this | summer and the motion was withdrawn l The following resolution was then in- troduced and carried:
 Resolved by the Alabama Bankers as-
 to increase the efficiency of trust com
 panies,' which has passed the senate of Alabama and is now pending in the house.
 is hereby approved and endorsed by this association and the committee on legisla- | ton is instructed to use all proper means | to secure the passage of said bill" l The five minute talks live bank | ing subjects by delegates and visitors was dispensed with and the session adjourned I l ing at 10 o'clock, sharp.
 l The convention was called to order | at it's first session at Il o'clock yesterday
 morning, being opened with a divine in vocation by the Rev. James A. Dun l can.
 Mayor Ward was to make an address | of welcome in behalf of the city. but
 was unavoidably prevented from attend l Lieutenant Governor Henry B. Gray made 1 a speech of welcome on behalf of the | city of Birmingham and of the Clearing | House banks.
 | tional bank of Anniston, also mayor of | the city of Anniston. responded on behalf l of the association, in place of Gen. J. W. Whiting of Mobile.
 The report of President McKleroy was then made. He toop a rap at the sub treasury proposition and made a few re- marks as to the cause of Birminghams 8 not getting 1t. His address was interest," ing and covered the field thoroughly. The secretary-treasurer. McLane Triton, Jr., cashier of the Bank of St Clair County, then made his report, which met with the approval of the association and was unanimously adopted. Governor Corners address came in be- tween the presidents report and that of the secretary-treasurer.