The Birmingham age-herald., 1907-07-07
THE ELLIS REPORT
 ON FOREIGN LOANS
The Governors Correspondent Seems to Favor Modification
SAVINGS BANK FOR SELMA
New Institution, Which Is Capitalized at $1o0,ooo, Will Open for Bus- ness on August 1-Mevin
 Is President.

Is President.
 Selma, July G.-(special 1.-The Dallas representatives in the legislature have seemingly recovered from the somewhat of a setback given them @ few days ago when Governor Conner published a letter from l. B. Ellis, the wel-known anc prominent insurance man of this city, as a support for his dhe governor's) con tinued advocacy of the tax on foreign loan companies. The Dallas representa- tives have been doing some thinking and | they have resurreeted q letter received about May 15, signed by Mr. Ellis as chair man of a committee of the Selma Com mercial and Industrial association, ap- pointed May [, to draft suitable resolu- tions concerning the law imposing a tax on foreign companies doing a loan bus mess in this state.
 This letter, after citing the fact that the meeting held May by the Selma as sociation had appointed such a committee, says that in accordance herewith we beg to place before you the following:
 Resolved, That bill No Ssl-H. ell be so modified as to relieve said foreign cor porations of the additional tax imposed by it. Already the state of Alabama has felt the bad results of this bill more keenly than any legislation which has been enacted in the past decade in the history of the state. For a number of fnraipn c1nita1 has seemed slve to the Inducements offered for in- vestment in Alabama, while the bill as recently passed has served to stop all cor porations from Investments on the basis that we are now operating under Many of these, with matured plans for invest ments in the state, have withdrawn them, solely as result of the passage of this bill, thereby causing losses and in many cases great hardships on individuals as well as retardlng industrial development which has in recent years set in. The state has not reached that condition of independence where 1t can continue its progress and prosperity without the aid to its industrial and commercial growth af- forded by foreign capital, since many of our largest and most important enterprises are now dependent on this source of sup port
 Tt is, therefore, urged that this bill be so modified as to eliminate these adverse features which operate to discourage the influx of foreign capital. Respectfully submitted
 "J. B. ELLIS, Chairman"
 'J. T. SLATER, Secretary"
 Ellis Position.
 An inspection of the records of Dallas county in which is located the state of flee of the insurance company represented by Mr. Ellis, has failed to disclose any money loaned under the provisions of tho bill MT. Ellis was also a member of the committee on resolutions appointed at the meeting of the State Commercial and Industrial association which brought in such an emphatic resolution condemn ing the law. Whether MT Ellis was present when the report of the committee was made up or not is unknown, but he is usually known as a fighter" In as- semblies for his beliefs and his silence here is remarked upon as somewhat sig nifcant.
 The Dallas representatives will likely be found opposing both the foreign loan company tax and the proposed Gray bill, WHICH ndS IS ueStlHtu LOT NdlH- glorious defeat. and which the knowing ones intimate Is to be sacrificed in an effort to keep on the statute books the foreign loan tax.
 The people generally, irrespective of Governor Conner and any trades made or implied by which legislation is to be de- feated or repeal prevented, want their in- terests conserved, and the Dallas repre- sentatives will likely be found solid for
 
 cial Industrial association's wishes.
 Savings Bank for Selma.
 Selma will have a new banking insti- tuition which will throw open it's doors on August l. The new concern has been fully organized with a capital of $1O000, all of which is paid in and will do business under the name of the Selma Trust and Savings bank. The place of business oc- cupied by Clark X Merriman as barber shop in the Selma National bank building Is to be fitted up for the new Savings bank. Vaults anRpther furniture will be put in and the mnk will do a general trust and savings bank business, paying per cent on deposits. The stockholders are all well-known men and are E. C. Melvin, Minthorne Woolsey, c. w. ROD inson, Marx LeXa, R. r. Anderson R. II. Mabry, A. w. Cawthon. l.. E. Jeffries
  Melvin, president R. P. Anderson, vice president and secretary. It is stated that the bank will open its doors with savings deposits amounting to about S1O0000, thus giving the institution $200,0 resources at the start.
 Property Is Sold.
 NIr. and Mrs. l. w Preston have sold out their store, residence and small houses corner of North and Sylvan streets to MT. w. S. Purifoy of Snow Hill. The consideration was $4O00 and includes the entire property on the corner MT. and Mrs. Preston have purchased the home on First avenue owned by Mir. John Seymour, and it is likely that Mir. Preston will en- gage in the grocery business in that part of the city. However, he has not made his plans for the future at present.
 On tine Fourth of July the Y. M. C. A. served about fifteen gallons of lemonade to the thirsty one who called at the build ing. The connection was delicious and was heartily enjoyed by all who were served. The lemons and sugar were do- mated by r. T. Shanks, c. C. Grayson and the Barnwel Swift company. the ice being given by the Peoples oil, Ice and Fertil- izer company
 State Baptist Convention.
 The State Baptist convention convenes in Dothan on July 24 and the First Ba2- tist church will be represented by the Rev. J. l.. Rosser Hno. H. s. D. Mallory and James E. Ellis. These delegates were selected at a recent business session of the church.
 The convention sermon will be preached by the Rev. J. L. Rosser, pastor of the