Omaha daily bee., 1907-09-20

President-J 2. a. Black, president OF IN
German National bank of Hastings,
Secreta ry.-Willam h. Hughes. manage
Omah&Clearing House association.
Trea easurer-F. T. Hamilton, vice presideu
Merchants National bank Of Omaha.
Chairman Executive Council - -.
Members of Executive Council for Thre
Years.. w. Welpton, Ogalallai Georg'
n Seymour, Elgin; II. A Wlggenborn
Ashland; II. c, Dale, Rushville; {.
Msmbers For Three Years of the Member
ship. Educational and National Financia
Legislation Committees, Respectively,
GSRa GhTmSs MuTTay n W yYatss RSn0eT Omaha % Oo"0"
Delegates to American Bankers Associa
tion-H. w. Yates of Omaha, Carson Hill
dreth of Franklin. +. r. Quincy of Ere
mont Luther Drake OF Omaha, S; III
Burnham o6 Lincoln, w. IL Bucholz ,oi
Omaha; John j. Pennsr Of ReatriGei Tgni,sa g. y
Harvard George L. Meissner of Crete
f. e Lyle of Wahoo. John f. Flack Of
Omaha Thomas Murray OF Dunbar, l.. Il.
Howey of Beatrice.
A splendid banquet at the Rome hotel
last night, where Judge William Hayward
of Nebraska City made an address, marked
the actual close of the eleventh annual
convention of the Nebraska Bankers as
| sociatlon, which held a two-days' session
at the Rome and Elks' hall. The most
notable feature of the closing day, or OF
the convention, was the address OF George
E. Roberts. former director of the mint
and now president Of the Commercial Ma
tional bank Of Chicago, upon the subject
"A Central Bank OF Issue" in which Mr.,
Roberts pleaded for a reform In the none
tary system OF the country that would af'
| ford a greater elasticity of currency. After
the election OF officers and delegates to the
American Bankers association, the delib-
! erations of the convention were brought &c
close at 4 D. IN. The visiting bankers
| will be taken for visit to the South Omaha
stock yards this morning by their local
| brethren, who rendered the banquet last
night. The convention was pronounced mo-
tably successful and interesting.
Attendance is Much Larger.
/ A largely Increased attendance greeted
the second days session. The convention
was called to order at io30 by President
Hall The announcement was made that,
owing to the inability of Judge William
J Hayward of Nebraska City to be present.
/ the address he was to have delivered would
not be given until the banquet at the Rome
hotel.
The first speaker of the morning was ].
p. A. Black. president of the German Ma
tional bank of Hastings. on the subject of
THE Ideal Relationship Between the
Banker and the Customer" These rea-
tlons he grouped under the heads of fra
ternization, moderation, discrimination and
! application. The essential qualification of
good banking, according to the speakers
1 Idea, was unfailing devotion to the in
terest of the depositors The speaker was
, of the further opinion that this convention
was the forerunner of great and good
suits for Nebraska of which not alone Ne.
braska but other states of this vicinity
may we'll be proud. The address of Mr..
Black was listened to attentively and most
heartily applauded.
Bill of LadinE Committee.
This telegram was read from Louis r
Pierson of Brooklyn, N. Y, chairman OF
the committee on bills of lading for the
National Bankers association convention,
which is to be held in Atlantic City, N. J..
next Monday:
/ To w. b. Hughes, Secretary Nebrasks
Bankers Association We hope your asso-
citation will appoint bill Of lading com.
mittee to cooperate with our COMMITTEES
and other committees appointed by other
state associations for conference. with all
borough Blenhem, Atlantic City. Monday
morning, September q. II the committee
is appointed please wire names and inten.
tions to attend.
A motion prevailed that the chair ap.
point a committee of three in concurrence
with the telegram. Chairman Hall an.
nounced that he would appoint the commit.
tee before the close of the afternoon ses-
sion.
The chief feature of interest of the morn
ing session and possibly the most import
ant event of the entire meeting was thu
address of George e. Roberts.
Change I'm system Demanded.
Mr.. Roberts said in part:
There is persistent agitation for som,
change in our monetary system which will
give a degree OF elasticity to II i haliaUa
such reform is needed, and that the need
will become more and more imperative az
come greater In volume and more and mort
inter-related and inter-dependent. Th(
not confined to the Individual or the locality
when conditions are strained. There is 4
nervousness everywhere at such times thai
Is peculiarly susceptible to alarm, and tht
influence OF every unfortunate Develop.
ment, OF every mishap, Is cumulative n
moves along. AS soon as money is reported
tight the newspapers begin to feature H.
J gossip turns to 1t, and people discuss thu
. possibility of the probability of panic
The increasing volume OF commercial paper
in one more explosive element in the situa.
] ! ton suppose two or three big houses
! whose paper is widely distributed shoult
! buyers? II II caused a general cessation
OF purchases. It would bring on more fail.
ures, and there is always danger OF a gen.
!. eral demand for liquidation which will
absolutely PROSTATE the business commun
No Resources in Panic.
This timidity and sensitiveness is very
largely due TO the fact that we have II
this country no resources in the event of
panic, There Is absolutely no give" In ou
monetary system. When an emergenc,
comes, there is no help for the situation
a supply Of money that is ample for or
! dinaIy needs Is Inadequate for such I
time, there isn't enough TO go around ant
. no matter how great the resources of az
individual or firm or bank may be, WI
4 have no way provided by which those re
sources may be utilized to save its nam,
and credit. IL is largely tho fear OF thi
= possible situation which creates the tim
Z idity and begets the alarm.
/ do not say that the mere fact thu
0 money occasionally becomes tight needs d
be remedied. Money will become tigh
under any system, and. Of course, ther
must be some effective check to borrow,
ing. II is not the fact that money be
= comes tight once year that Is dangerous
= but the fact that the country comes ever
n year practically 10 the end OF its resources
$ There ought TO be some way by which tn
. undoubted resources OF the country can b
N a II