The Marion daily mirror. (Marion, Ohio) 1892-1912, 1909-09-14
Bankers Cry For Negotiable
Bill Of Lading.
DESIRED END IN SIGHT
American Bankers Association AIso
Opposes Money Order Business as
Conducted by Express Companies.
Postal Savings Banks and Bank
Guaranty Laws Frowned Upon by
Special commlttees--oklahoma and
Kansas Representatives speak.

Kansas representatives speak,
Chicago, Sept. 14.--Out of a multi
plieity of conferences. preliminary to
the convening of the thirty-ffth an.
nual convention of the American
Bankers association today, one fact
stands out supreme In the opinion OF
the bankers, and that Is "the bill of
lading question, one of the greatest
commercial problems of the day. will
soon be settled to the satisfaction OF
bankers, carriers and shippers"
The cry of the bankers has long
been for a bill of lading which would
make the carrier issuing 1t responsi-
BILE, 30 that II would be a safe. nego-
table instrument.
The shippers represented are
equally anxiour for solid foundation
and the importance of the question
was emphasized by Henry Dunkak,
president Of the New York Mercan-
tile Exchange, who declared that II
the bin of lading were not used as a
basis of credit, "the business Of the
country would come to a standstlll
or else become concentrated In the
hands Of few"
The railroad representatives did
not oppose the resolutions, and this
was taken by the bankers to indicate
closer degree of harmony than has
prevailed. since heretofore the car
riers' liability has been the principal
bone Of contention.
In addition to unanimous approval
by the conference, the resolutions for
uniform bills of ladlng laws were act.
ed on favorably by the executive
council of the association, and will 90
before the convention for final action.
ance of express and money orders
will bs the subject OF criticism from
the special committee on the subject.
The bank deposit guaranty plan and
the postal savings bank project were
frowned on by the federal legislative
committee, which will report adverse
ly on these propositions and will sug-
gest as substitute that the national
banks be permitted to organize saw
ings banks with segregated capital.
{, The main meeting was the gather
Ing Of the executive council of the
association, to which all reports and
resolutions destined for the conven-
tion must be submitted. The session
of the council was behind closed
doors. and II was later announced
that the suggestions OF the various
committees had been approved with
out exception.
Coincident with the preliminaries
for the main convention the conven-
tlon of the national association of
supervisors of state banks was held,
at which tie supervisors from each
state represented outlined the condi-
tion OF banks In their state. The
representatives from Kansas and Ok
lahoma spoke strongly In favor OF the
guaranty laws now in force In those
states A. NJ Young OF Oklahoma de-
clared that II was not easy for an I'm
proper person to open bank In his
state, and j. NJ. Dooley OF Kansas in
sisted that had the bank guaranty
law been In force throughout the
country for 40 years II would have
Offset all the losses suffered in that
time by depositors.
The bankers OF Chicago rendered a
banquet 10 the executive council of
the American Bankers association.
Joseph G, Cannon, speaker OF the
house OF representatives, was the
principal speaker. Speaker Cannon
made only an informal talk. but took
occasion TO make a few remarks
about government by the people.
This Is government by the peo-
ple," said Speaker Cannon. "The
people have their chance to speak
every two years. The government is
no better nor no worse than the peo-
pie demand. There must always be
a large number of people who follow
certain leadership. yet disagree
with II, In order to make the present
day form OF civilization 4"