The Birmingham age-herald., 1907-05-11

had been adopted by that club; from Bre- yard D. Miller, treasurer of the Ala bama Cotton Manufacturers association, stating that it would be taken up at the next meeting of that organization: from J. r, Wilson, secretary of the Mobile Commercial club, stating that the matter would be presented to the board of direc- tors at their next meeting, and from l.. L. Gilbert, secretary of the Montgom- cry Commercial club. quoting resolutions adopted by that club on May 8. MT. Babb also has advice to the effect that the sel- ma Commercial and Industrial assoeia- ton has acted. and is in receipt of a let ter from President Joseph J. Bradley of the new board of trade of Huntsville, stating that he would call the matter to the attention of that body at once.
 Addresses By Prominent Members.
 Addresses were then made by Sterllna A. Wood, A. R. Dearborn, T. II. Motion, J. B. Babb, Frank Nelson, A. I. Dexter, MT. Jenkins, Mir Nesbitt and seevraI others. The gist of all these addresses was to the effect that the bill taxing foreign corporations or individuals loan ing money in the state of Alabama was an injustice and should be repealed.
 A motion was made seconded and car ried, that MT. Babb should visit the diff ferent places where there are clubs and to other places to stir up interest in the repeal of this law. It was the sentiment of the club that when Governor Conner learned that it was the opinion of the people of the state that it was an unjust act that he would overlook his personal opinion and withdraw from his position In favor of the measure.
 A report from the committee on the proposed cotton exchange for Blrming- ham was called for and W. B. Nesbitt responded. MT. Nesbitt stated that enough members had been secured to make the exchange a sure proposition, and that a meeting would be called at an early date 10 place it on a permanent footing MT. Nesbtt explained that this exchange would be a spot cotton ex- change and that 1t would not deal in fu- lures, but that information of every kind including the futures would be furnished. MT. Harding also made an interesting talk on the cotton.
 It was then announced that the annual election of officers would be held in the club rooms on Monday. May 13. These officers will be installed at the meeting on Friday night, May 4, at o'clock. The letters and resolutions from the clubs referred to are as follows:
 Letters From Clubs.
 Talladega, April r, 1907 Mir. J. E. Babb, Secretary Commercial Club, Birmingham.
 Dear Sir:-Yours to this club regarding acts O. the legislature to hand. I will at next meeting of the club call attention | to your communication and undertake to | have suitable resolution adopted by the | club. Personally, I believe all the com mereial bodies of the state should take | action and l hope your club will push this matter along lines suggested by the enclosed resolution. Respectfully, J. A. EDWARDS, Secretary MT J. B. Babb, Secretary Commercial l Club, Birmingham.
 Dear Sir:-I am sending you attached hereto copy of the resolutions presented to q meeting of our Boosters club and which were adopted unanimously. Thank you for bringing this matter to our attention and we assure you we stand ready to cooperate with any and all of the commercial bodies of the state in anything that is for the in- 1 terest of the people. Yours truly. c. F. SCOFIELD, Secretary.
 Resolved. by the Boosters club of Bridgeport, Ala, That the laws enacted by the last legislature, imposing onerous burdens on foreign loan companies do- ing business in the state, are predjudicial to the best interests of Alabama, and impose hardships on our borrowers.
 That we petition the legislature to mod fly these acts so that foreign loan com panes may do business in the state on the same basis as heretofore.
  Mir. J. B. Babb. Secretary Commercia,
 Club, Birmingham.
 Dear Sir:-Your letter to the Cotton Manufacturers association, enclosing T copy of resolution adopted at the last meeting of the Commercial club. has been forwarded to me by Mir Pratt I will take pleasure in presenting thfs for action by the Alabama Cotton Man ufaeturers' association at its next meet ing. Yours very truly,
 BREVARD D. MILLER,
 Secretary Treasurer MT. J. B. Babb, Secretary Commercial Club, Birmingham.
 Dear Sir:-Acknowledging receipt of your letter enclosing resolution. beg to advise that the matter will be presented to the board of directors at their next meeting. Very truly yours.
 J. P. WILSON, Secretary.
 Montgomery. Ala, May g. 1907. MT Joseph B. Babb Secretary. Birming- ham, Ala:
 Dear sir-Your letter of April 15 also your telegram of May z. in reference to legislation taxing foreign loan companies duly received. The matter had the con- sideraton of our board of directors at meeting yesterday noon, at which time the following resolution was unanimously adopted
 Whereas. the present legislature of Alabama has passed several bills impos- ing new taxes on foreign money brought into Alabama to be loaned on real estate. which taxes amount to more than ten times those formerly charged for silimar purposes, and,
 Whereas, this club has been invited by various commercial organiza tions over the state to join them in an effort to have these onerous and inhibitlve taxes repealed or modified at the July session of the present general assembly,
 Therefore, be it resolved by the board of directors of the Commercial club:
 IT, In view of the fact that Alabama has so many latent resources entirely undeveloped and such a vast expanse of unsettled agricultural lands lying idle 1t should be the policy of the state gov ernment to invite foreign capital to in- vest in Alabama on terms at least equal to those offered by other states similarly. situated, and that the imposition of new taxes on foreign money and the passage of drastic laws imposing rash and severe penalties on foreign money lenders. as well as other foreign corporations seek ing to invest in Alabama, is exceedingly unwise and extremely harmful to the state
 "2 In view of the fact that the situs of personal property Qncluding money) is for the purpose of taxation fixed by law at the domicile of the owner. it is the --~-----------~------~-
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