Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-09-27
PRACTICAL BANK|N c
Closing Discussions at Ameri-
can Bankers Convention
IN ATLANTIC CITY TODAY
President ingalls, Address a Feature
of Final Session.
TALKS ON OUR PROSPERITY
A Number of Resolutions Referred to
the Executive Council-OHcers
Elected and Adjournment.
N ATLANTIC CITY TODAY
TALKS ON OUR PROSPERITY

ATLANTIC CITY, n. J.. September 81
If the Secretary Of the Treasury will grant
a request contained in resolution pre-
scented today at the American Bankers AS
ISOLATION convention, the teller's desk OF the
average national oank will somewhat re-
senlble the ribbon counter Of department
store. The resolution proposes that each
denomination of bank notes be made Of
certain color. as follows:
One dollar notes, slate; twos. brown; fves,
green; tens, blue; twenties, yellow; fifties.
pink. and one hundreds and over, white
The resolution was referred to the incom-
ing executive council.
A feature of today's session, the final one
of the convention. was an address by Presi-
dent NJ. E. ingalls, of the Merchants Ma
tional Bank Of Cincinnati He took for his
subject "Our Present and Future Pros
perity.
Prior to Mr. ingalls, address there was a
discussion on practical banking questions
that crop up in everyday business. These
questions had to do for the most part with
certain matters of routine and the forms
Of bank papers.
Resolutions.
Among the resolutions presented during
ferred to the executive council. was one
requesting the committee on express COM
panies to make certain changes in money
orders that are payable in all parts of the
world and that carry their own tdentifca-
ton. Another resolution proposes that the
state banking associations urge the passage
Of legislation providing for uniform bills
of ladng.
E. R. Mosey Of Kansas presented a res
olution favoring such legislation. both state
and federal, as will provide strict super
vision of the issue of stock and other Sc
curitieS Of public service corporations. He
| also introduced a resolution suggesting that
all interstate corporations be chartered by
the federal government.
The convention adjourned after electing
the following officers: President J. d.
Powers of Louisville; vice president, George
NJ. Reynolds OF Chicago
The secretary and treasur~r will be Sc
lected by the executive council which will
hold a session this afternoon.
Credit Currency Plan Endorsed.
The convention put itself on record yes
terday afternoon at the close Of the second
days session as favoring the credit cur
rency plan, prepared by the currency COM
mission which was appointed by the asso-
citation last year and which appeared before
the House committee on banking and cur
rency last fall in effort to have Con-
gress pass a credit currency law.
The result was achieved only after a
snrited contest. tn which Representative
Charles n. Fowler. chairman Of the House
committee banking and currency, led
the credit force against the opposition,
championed by Andrew J. Frame, presi-
dent OF the Waukesha National Bank Of
Waukesha. Wis. and Henry w. Yates
president of the Nebraska National Bank of
Omaha.
Fowler Wins Over Delegates.
At the conclusion of the session the
amended motion of William c. Cornell of
New York that the report of the Hepburn
currency committee be approved and the
commission be continued. with power to
add to it's numbers If deemed advisable,
was almost unanimously passed. The
change OF feeling on the part Of the dele
gates from that evidenced by the applause
which greeted Mr.. Frame and Mr.. Yates
at the beginning of the discussion, following
the report of Chairman A. Barton Hep
burn of the associations currency COM
mission. was due in large part to the ag-
gressive speech of Chairman Fowler. When
the verdict of the delegates had been an
nounced trrevocably placing the associa-
ton on record for credit currency he made
no effort to conceal his elation over the
result.
1t Is a tremendous victory for those
who believe in the adoption of credit
currency" he asserted. TOO much i'm
pOrtance cannot be attached to 1t. 1t is
almost certain that, as the commission is
to continue, another effort will be made to
get credit currency law though Congress.
This action Is bound to have it's effect upon
Congress whenever credit currency shall be
brought up again.
West and South Prosperous.
Country bankers In attendance at the
American Bankers Association convention
join very generally In the statement that
the west and south are in sound financial
ho 10 yhtla
smaller that the crops of the last year or
two, will. owing to the higher prices which
now prevail. yield the farmers much If
not more money that they got for their
crops last year. Edwin Chamberlain, presI-
dent of the Texas Bankers Association,
Sa.,.:
The general condition Of our state both
financially and commercially, is favorable,
while the cotton crop is below normal and
other products. except wheat, are very
good.
+ Banking conditions are excellent and
bankers will, no doubt, be In the market
this fall for outside paper, as formerly"
John Perrin. president of the American
National Bank OF indianapolis. and men,
Ger Of the currency commission. said:
Excellent prices prevail for all agrfcul-
tural products, that people have
large purchasing power"
Luther Drake, president of the Merchants
National Bank of Omaha says:
Nebraska has been favored this year
with an average crop. The prices on cereals
are so high that 1t Is quite probable the
state will receive for its crop this year the
largest sum of money In the history. The
industrial conditions of the state are most
excellent
w. II. Negus, president Of the First Ma
tional Bank of Greenville, Miss, says:
Business conditions are fairly good cot
ton crop prospects are excellent now, but
the critical season Is not yet passed. High
prices for cotton and good crops will put
our immediate section on a much more
substantial basis
E. J. Buck, president of the City Bank of
Mobile, Ala, said:
THE general outlook in Alabama is good.
The cotton crop. which is one OF the largest
money makers, probably will bring larger
, returns in money values than in any pre-
yiOus wears"