The Norfolk weekly news-journal. (Norfolk, Neb.) 1900-19??, 1908-04-24

EHE NOhFOLh WEEkL1
the present directors OF national
banks 10 resign and their places
would have had to be filled by per
sons that are either absolutely worth.
less as directors or by retired capital
lists who In nine cases out of ten are
out of touch with existing conditions
and would have been unable in any
way to assist the officers Of the bank
In conducting It's business.
There Is another matter before con.
gress that If passed will work n
great injury 10 the country banker
and 10 the city banker also; but the
injury to the country banker will be
lar in excess to that OF the city
banker. refer TO the postal savings
bank bill AS the bill now provides
the deposits in postal savings banks
must be deposited by the government
in government repositories and there
is no change made in the law whereby
any bank other than a national bank
Of not less than $4,000 capital can
be designated as a government depos-
tory bank. This would take the en-
tire deposits in postal savings banks
away from the community where
there is no depository bank, and would
tend to centralize the money of the
country in the larger cities and would
thus work great injury to the country
banker as well as to the entire COM
munity. There already is too much
of tendency to centralize the men,
bers in congress from state advising
them OF the great injury this bill in
its present shape will work to the
business community and requesting
them either to vote against the bill or
have it so amended that 1t will allow
the money TO remain in the commu
nifty where originally deposited.
The guaranteeing Of depositors by
an assessment on the banks Is another
matter that Is confronting us and~ is
a question that will have to be set
tied by the bankers themselves. AS
for myself | am opposed to the sys-
TEN, but there are several arguments
that can be produced in its favor
During the last session of the state
Legislature, ] assisted in defeating a
hill tat provided for the guarantee
ing depositors in state banks, and
am of the belief that unless an equit-
able law can be passed that will work
alike upon national and state banks it
will cause bankers great deal OF
trouble. ] can see no good reason
why the conservative banker should
be called upon to furnish basis Of
credit and confidence for the specu-
lative and unsafe banker.
These matters that / have men
To-. ~ L. 81 /.
considered by you during this meet.
ing, and l trust that an understanding
may be arrived at that will furnish a
basis for action that will assist in
either bringing about the passage of
such laws as will be of the greatest
service to the people and to the
banks, or defeating those that will be
impractical and work an untold injury
to the business of the country.
In closing, | wish to thank you for
the honor conferred upon me and
trust that this meeting will be the
result of much good to all Of us so
that we can all go back to our sever
al communities better informed on the
great financial questions that are con-
fronting the people and thus be en-
abled to impart to our customers the
knowledge we have gained in order
that they may assist us in bringing
about needed reforms and safeguard
the best interests of the state and
nation.
At the close of President Randall's
address the complete minutes of the
1907 meeting were read by Secretary
Butterfeld. The treasurers report
was presented by w. L. Mote Of Plain
view.
The appointment of committees and
other business went over to the after
noon session.
Afternoon Addresse.
With Former Comptroller Of the
Currency Roberts on the program, with
nearly 200 bankers in attendance, the
audience comfortably filling the body
of the Auditorium, with a perfect con-
vention date, the Arbor day conven-
ton of the Northeast Nebraska Bank
ers association had all the elements
to make the most successful conven-
ton in the associations history. And
ii was.
More bankers came to Norfolk Arbor
day than ever attended district bank
ers' convention in this district before
and the Northeast Nebraska associa-
ton outdates the state association.
Senator Randall of Newman Grove,
president Of the association, presided
over the convention.
A series Of papers and addresses of
unusual merit occupied the greater
part Of the afternoon session of the
bankers convention
George ]. Adams of Fender gave an
address on Guaranty of Bank Depos-
it's The discussion on this paper was
led by E, H Gerhart of Newman
Grove.
Dr. P. L. Hall. president of the Cen.
tral National bank of Lincoln, gave an
address which occupied an important
place on the afternoon program.
George 2. Roberts Of Chicago, a for