The Birmingham age-herald., 1907-07-05
COMMERCIAL CLUBS CONCLUDE SESSION State Meeting Will Be Held
 Next Year at Mobile OFFICERS ARE REELECTED Resolutions Are Adopted Asking for Repeal of the Law Taxing For
 eien Money Loaned In the
 State of Alabama.
OFFICERS ARE REELECTED
BY R. E, L, MEL.

BY K, l.. L. MEL. Selma, July 4.-(Special. )-The thirteenth annual session of the Commercial and | Industrial Association of Alabama has concluded its session and It's work may be summed up in a sentence bitterly op- posing the tax on foreign loan companies, opposing the proposed law of Lieutenant | Governor Gray to compel insurance com panies to invest half of their receipts in l Alabama, fayoring good roads and bet torment of Mobile harbor and the inland waterways of Alabama.
 The association, it's representatives com l posing some of the most representative men of Alabama was unanimously of the | opinion that the foreign loan tax and the proposed insurance law would hinder the progress of Alabama for years to come. l There was no division of sentiment, not a l voice raised in favor of the innovations l that have come with the wave whose 1 front and center were railroad batting and whose cycles have environed practically | fanaticism.
 Officers Elected. The old officers were reelected in the , main, and the next annual meeting will be held in Mobile, New Decatur giving way to the claim of the Gulf City. The officers l for the ensuing year are:
 A. G. Forbes. Montgomery, president. l.. L. Gilbert, Montgomery, secretary. Vice presidents, William A. Hall, New Decatur; John Craft, Mobiles T. H. Mol ton, Birmingham; F. J. Thompson Hunts vile; F. c. Melvin Selma; W. H. Sexton Anniston; J. T. Walker, Montgomery; W. K. P. Wilson, Mobile; J. H. Cranford. Jas per; T. s. Elewellen, Union Springs.
 The summing up of the sentiment of the association is embodied in the resolutions presented by the committee appointed for that purpose, which are as follows:
 Resolutions Adopted.
 Whereas, It appears that certain laws enacted by the legislature of Alabama, at its recent session. will impose such heavy burdens upon the foreign mortgage or loan companies doing business in this state as is causing said companies to either increase their rates of interest to such an extent as will impose great hard ships upon borrowers, or to cease abso- lutely from doing business In Alabama; and
 Whereas, The loans made by said com panies in this state are largely confined to farmers, mechanics and other persons of moderate means; therefore, be it Resolved, by the Alabama Commercial and Industrial association, That we be- lieve such legislation is prejudicial to the best interests of the state of Alabama, and that this association memoralize the legislature at its adjourned session to be held in July to repeal it's recent acts regarding the business of said foreign mortgage or loan companies to justify them in doing bushes sin the state as heretofore.
 Resolved further, That these resolu tions be submitted to the legislature oy our committee on legislation, and that said committee and every member of this association, be requested to urge the lcgis- lature to repeal the act referred to.
 Resolved, further, That we believe it best to repeal the law passed by the pres ent legislature and have the law as it was before the enactment of this last bill; that any attempt to modify or amend the law might be regarded with suspicion and doubt by the foreign loan companies, the old low being understood and having proved satisfactory to the loan companies. we think it unwise to pass any law that might possibly keep them from doing DuSlneSS III lDe Sldlc. w iidt VIC want -o more and cheap money to develop our state.
 Resolved further, That every Conner cial club in Alabama be requested to send delegations to Montgomery to cooperate with our legislative committee in securing the repeal of the law imposing further taxation upon foreign loan companies in Alabama
 Oppose Laws.
 Resolved that this association is op- posed tc the passage of any law by our legislature to force life insurance com panies doing business in Alabama to invest a part of their reserve fund in Alabama. believing as we do that it would be Gnwise, to dictate to any com pany where it should invest
 Resolved further, That we believe that Alabama is regarded with favor by the lar.'e life insurance companies, and so lon; as they can invest and do business in our state as favorable as under the laws of other states, we need have no apprehension as to their willingness to invest in Alabama securities and loan money at low rate of interest.
 resolved further, That our legislative committee be instructed and directed to use its influence before the legislature, to prevent the passag of any such bill.
 Whereas, it is almost universally con- ced ed that a solution of the seriou strans- portati problems which are confronting the country and ;.necting Its progress and prosperity con only be found in the deepening of it's harbors and the devcl- opment of it's inland waterways, and
 Whereas, the port of 4..ople Is the na- tural outlet for the vast commerce of a great expanse of territory and is the only port in the great state of Alabama( therefore, be 1t
 Inland Waterways.
 Resolved by the Alabama Commercial and Industrial association that we rec ognize the necessity of arousing through improvement of the inland waterways and securing united and harmonous action efforts to persuade the congress of the United States through our representatives in that body. that it would be the part ity were exercised in making appreprla- tions for said purposes.
 Whereas this association has held most successful two days session in the beautiful city of Selma and has observed with surprise and admiration the spen- did development and substantial growth evident on every hand, and
 Whereas, we have been in large measure the recipient of the graceful courtesy and warm hospitality for which the city is so justly famous, now, therefore, be it
 Resolved. That the Alabama Conner cial and Industrial association as a body and as individual members congratuates