The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-05-24
\yhut Had been Done.


He referred to the repeal Of the law
allowing three days of grace; said
that the Legislature was kind enough
to do away with the special privilege
iaX on bankers; that the authority OF
the Corporation Commission was OK
tended to loan and trust companies and
banks going into liquidation; that a
law was enacted by the last Legtsla-
ture making IT misdemeanor Tor
party to secure something from mer-
chant or others and give a check to
pay for same when the party has no
money in the bank.
DIR. w. II. Glasson. OF Trinity Col
leee, addressed the convention on ECO
homie effects OF the Recent Increase in
the Worlds Gold Production DIR.
Giasson spoke of the increase in the
output of monetary metal. He said that
the increase in gold production WAS
due to the discovery of new mines
and the adoption of new and more
profitable methods for mining. DIR.
4 Glnsson said North Carolina was the
leading gold-producing State east of
the mississippi River. and that in this
production she had increased her rec
ord four-fold in the past ten years.
The speaker gave average statistics
blowing the increase In the cost of
living and building materials since
1896. He said that prices were highest
january l, 1907. since 1852. The only
explanation given for such a rise in
prices Is the decided Increase in gold
production. I'VE seem to be living
h n period of gold Initiation rather than
silver or paper initiation" said the
speaker. He held that the change IN
conditions favors the debtor more than
The creditor. IT was shown that the
farmers had shared largely in the
prosperity of the past several years by
Increased prices.
AT the afternoon session two prac-
tica addresses were made. the first
pnc being by Secretary II. G. Brown.
bf the North Carolina Corporation Com
mission, on banking in North Caro-
line: Pnat and Present" and the second
BY w. a. Wilkinson. manager Of the
savings and advertising department OF
the Wachovia Loan and Trust Com
pnny, this city. His subject was Bank
Advertising"
Tonight aemoscale was given in the
lumnae Memorial, Hall. Mt the Salem
female College, complimentary to the
Bankers Association. Tonight at 10
N'clock tho annual banquet of the as
ociation was held at Hotel ZinZcndorf
Senator F. NJ Simmons and Prcsiden
~ w. Finley, of the Southern Rail.
way, were among those who respond.
ed to toasts. Mr.. Finlcys subject wal
tThe Relations Of the Railways to the
4 business of the Country" while senu
Tor Simmons discussed Our Grea
Problem
What MIR. Finley Said.
/ Mr.. Finley, referring to the presen
alnwillingncss Of investors to buy rail
way securities, said:
THE effect of all this has been t
bring about an anomalous state Of ar
fairs. AT time when the country "a
q whole is prospecting as never hcfore
when the only apparent obstacle t
further advancement is the lack o
adequate railway facilities, an
when the managers Of tn
railways are ready and anXiou
FOR the Improvement OF thei
systems. plans that In the South nlon
would involve the employment OF thou
: sands OF men and the expenditure O
MILLIONS of dollars. the money market
If the world arc almost closed to theI
and funds for the completion of wor
how under way have been obtained onl
by resorting to short-timc loans a
rates of interest much higher tina
,ould prudently be paid for tn
financing of any new undertaking.
ut is universally recognized that !
mon are to be induced to put thel
money into any business enterprise
Mccpt railway. they must have som
Insurance of a reasonable return oil
heir Investment, but many people seen
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