Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1909-09-14
FIVE THOUSAND
BANKERS IN SESSION
Gather in Chicago from Every
State in the Union and from
Cuba and Hawaii.
TALK PRACTICAL BANKING.
Report Of Committee ON Uniform Bills
az fading submitted 10 the
Convention.

Chicago. sept IA Bankers from
every state In the Union and reprcsen-
tatives OF financial institutions in cuba
and Hawaii Joined today in the OPEN
ing session Of the thirty-hfth annual
| convention OF the American Bankers
association here. The convention was
called to order by the president, George
NJ. Reynolds, president Of the Cont
mental National bank. Chicago. ia the
Auditorium theater in the presence OF
| close 20 5000 delegates.
Reports Of the various committees
| aud officers OF the association and the
addresses Of welcome and the responses
| filled the morning session.
The principal addresses Of the day.
by James J. HIN. Of the Great North
ern Railway company. on National
Wealth ana the Farm" was schedule
for the afternoon session and was to b,
preceded by an address by Comptroller
OF the Currency /. q. Murray ON
Problem Of the Comptroiler's once
The program OF the day also con
tanned an Informal address by Joseph
resentatives.
\ prominent feature OF the first DAYS
session was the discussion Of practical
banking questions by delegates.
Hov. Deneen OF Illinois and Joseph
I. Talbert, president Of the Chicago
| Clearing House assoc. ation. welcomed
the bankers 60 the state and city. Col
Robert j. Lowry OF Atlanta. Ga. for
nler president OF the association, re-
| spondcd
George VI. Reynolds OF Chicago. presi.
| dent Of the association. delivered his
address
Committee reports were then present
/ ed
REPORT Ok BILLS or LADING.
-Four important results are to be re-
! ported since our last report.
| J. The commissioners on uniform
state laws. after four years Of careful
consideration have completed their
| draft OF the uniform bin OF lading act
| Tor state adoption, and have recon-
| mended same for enactment into law
| by the legislatures of the-various states
2. The Canadian railroads have all
adopted the uniform bill OF lading rec
commended by our Interstate commerce.
| commission. including form, colors and
| win but slight and unimportant
changes IN its provisions
| -Four states have enacted into law
| the bill OF lading measure drafted by
| general counsel on behalf OF our com
mittee, under Instructions Of the vari-
| Gus banking association bill OF lading
committees last September
4. That carriers in official classical
| ton territory have authorized all
| agents who issue "order" bills OF ladinx
to place the Official stamp OF their
agency on such bills; and further have
| issued ruling that IAN straight and
| order bills of ladng should be made
| out in ink. indelible pencil or should bt,
/ typewriter and AL order bills of lad
ing should have the number OF pack
ages shown In words as well as In
numerals"
In addition important progress has
been made 10 secure congressional leg
islation on bills OF lading which viii
cover interstate shipments
Since our last convention and In &C
cordance with It's instructions. speci-
mems of the new uniform bill Of lading
recommended by the interstate COM
merce commission. were distributed
| through the several bills OF lading COM
mittees Of state bankers associations
TO bankers throughout the country.
RAILROADS USE NEW BILLS.
At this time we are glad to report
| that practically every railroad is using
| forms and In the eolors recommended
| By the interstate commerce commits
| sion the yellow form OF order bills ard
1 the white form for straight bills OF lad
| ing. and your committee recommends
| that bankers loaning ON bills OF lading
| make sure that the form they receive
| Is the order or yellow form
II Is with some regret that We notice
p few railroads are multiplying some OF
| the provisions Of the uniform bin OF
lading agreed upon. by stamping new
| conditions on the face. Bankers should
carefully scrutlnze and reject any
such bills few southern railroads
also have heen led 10 issue a form
/ similar IN appearance. but with a num-
her 1of vital provisions differing from
those recommended by the interstate
commerce commission.
At the suggestion OF a number OF
important boards Of trade. our ap-
proval was granted 10 tho form OF
| resolutions which have recently been
passed by the various boards OF trade
aud exchanges throughout the coun-
try. which provide that hereafter no
drafts be paid By their members when
the bill OF lading attached shall have
been issued BY the carriers without
the following safeguards:
SAFEGUARDS,
Every bin Of lading must In adj
| dition 20 the signature. bear also the
| Official stamp OF the authorized issuing
agent, such stamp giving date OF his
| signature.
q All the writing on said bin 81
lading must be In ink or indelihle
| pencil. and the quantity receipted for
must be written In fun In addition TO
| the numerals.
With the belief that the UNIVERSAL
/ adoption hy the carriers Of these safe
guards viii reduce disputes. claims
I and fraud. your executive council al
/ its spring meeting adopted resolutions
endorsing this action Of our mercan-
! tile friends. aud recommended la the
Journal that members ~ tho associa-
| ion only handle bin OF lading drafts
whore the bin OF landing attached con p
| formed 90 these requirements As all
ready stated AZ the beginning OF our
/ report, the carriers An official classi-
ncation territory have adopted these
requirements and IL 10 expected that
railroads IN other sections OF the
country viii DO likewise
Tho vast and Intricate nature 81 the
subject ana the fact that -four separate