Daily press. [volume] (Newport News, Va.) 1896-current, 1909-05-21

an act by the Virginia legislature ap
pointing state bank examiners, as out
lined in the bill prepared by the leg
islative committee of the Virginia
Bankers Association.
Growth of the Association.
In his annual report Secretary n. p
Calling, of Lynchburg, informed the
bankers that the association gained q
members last year and has now q
total membership of 301. Ten mem
bers were lost by the association in
deaths and Withdrawals
The report of the treasurer. Mr.. H
A. Williams. of Richmond. showed q
healthy financial condition. the bal
ance in the hands of that officer
being a little mere than $4,000.
Mr.. George Bryan, of Richmond, the
general attorney of the association
submitted his report, covering the va.
rious legislative acts to be consider
ed al this session.
Through Mr.. Tench F. Tilghman. Ct
Norfolk, the executive council, made
highly interesting report, which con
tainsd the recommendation of the
cutting down of the vice presidents
from nine to five and many other mat.
ters Of interes. to banking institu-
lions.
The reports of the chairman Cf the
groups were then listened to.
President Stebbins announced the
selection of the committee on resoiu-
tiors, naming Messrs. H. n. Phillips
of Williamsburg: Charles Pephle, oil
Richmond, and r. w. West, of Har-
riscnbrrg, as the members
1t was lis o'clcck when the as
sociation took a recess for luncheon
Afternoon Session.
The feature of the afternoon meet
ing was an admirable address by MI
II. Y. Phillips, cashier of the PeniI'
sula Bank, in Williamsburg, VINO
spoke en- State Bank Examinations
Mr.. Phillips paper showed that ne
had given his topic much thought ana
consideration and he was listened te
with marked attention. He was aisf
COMMUNICATED for his exhaustive
treatment of the subject.
The afternoon session was then de
voted {, a discussion of the proposed
laws regulating state banks, which i
proving enc of the best features o.
the meeting. The discussion was in
dulged in by a number Of the bank
ers and it was finally decided to lie
the state bankers meet and agree up
on some legislation before ]he ma
recommendation from the entire as
ISOLATION are adcFted.
The convention will convene thi'
morning. at $3.50 o'clock. when al
address will be made by Mr. w. 5
Whitman, of Atlanta, Ga. on Com
munitv Interests: Hon. Clarke VII
Iiams, superintendent OF Banks II
New York city. on The Banking re
partmen: Of the state OF New f5rk,
and this afternoon the addresses VII
be made by Mr.. A. Estes Vaughan. o
| Lexington, on "A CurreBcy System
and Mr.. Elmer II. Youngman. ediio
Of the Bankers Magazine. on SOM
Ranking and Currency Problems Q
To-day and Tomorrow
Notes on the Convention.
During the noon recess yeS'er'ial
the members Of tHe association. wn'
are connected with state banks, me
end discussed most hesicdly the rec
omnendstion e the legislative CON
mitiec on laws governing she stat
hanks. The biz recommends that
bureau OF banking Be formed: fha
siafe examiners be appointed and GOV
crs other features The idca TO IN
I pose a severe penalty for charging NOR
than tho regular rate Of s per cent ~
icrcst and compelling The state bank
70 retain a cash reserve q one-thir
Of is total deposits at an time yer