The Topeka state journal., 1909-03-27

mission to participate in the guaranty
law and then this question would be
solved right" Mr.. Larabee was in
favor of the clearing house associa-
| ton for the national banks. He held
that plan is the only scientific way to
solves the problem.
Mr.. BradIey's Explanation.
A comprehensive explanation of how
privileges of the Aldrich-Vreeland law
and form an insurance company as an
adjunct, was given by Mr.. j. T. Brad
ley, of Kansas City, who was formerly
a national bank examiners for the
state of Kansas.
81 think the difficulties that now
confront the national bankers Of Kan
sas can be easily solved and by a prac-
tical method. The Aldrich-Vreeland
act has supplied the proper solution.
The national banks should get togeth-
er as an organization and organize a
currency association for the state of
Kansas, which is provided for under
the federal law. In addition the bank
ers can organize as an adjunct to the
association an insurance company to
insure bank deposits, and then we will
have the best bank guaranty system
that can possibly be devised
Mr.. Bradley explained the manner in
which the currency association should
be organized and the manner in which
it is to be conducted. He mentioned
that through this association the ma
900, which can be used in times of
need. The guaranty fund in the insur-
ance company can be raised by
premiums and he figured that In
eleven years the guaranty fund thus
raised would equal a million dollars,
from which the stockholders would be
deriving a profit besides. He believed
that all the national bankers under
system and when the people under
stand it they will be entirely satisfied
with such a guaranty
In reply to questions Mr.. Bradley
stated that he thought the state banks
should be permitted to insure their de-
posits in the insurance company in
case they so desired.
Commissioner DoIley Speaks.
Bank Commissioner Dolley made
quite long speech to the bankers. He
stated that when President Taft was
in this section of the country during
his campaign he told Mr.. DoHey that
he thought it would be all right for
the Kansas banks to participate in
voluntary guaranty law such as was
proposed, if they We're given the priv
ilege of withdrawing at any time. Mr..
Dolley thought President Taft would
not have invited the Kansas officials
to go to Washington and discuss the
Kansas law unless there is.a good pros
pect for a reversal of the comptroller's
ruling on the law. The speaker felt
quite confident that the conference be-
tween the federal and state officials
will result in a decision favorable to
the national banks participating in the
law.
Commissioner Dolley cautioned the
national bankers not to take any ac-
ton that will cause friction between
the national and state banks.
In reply to questions Mr.. Dolley
stated that he would not discriminate
against an insurance proposition de-
vised by the national bankers if 1t
proved to be sound and safe He also
stated that his office would offer no
objections to state banks taking out
insurance in such a company, instead
of participating in the guaranty law, if
they so desired. He believed that the
best plan would finally be adopted and
If there were two good plans they
would eventually be merged into one.
The bank commissioner assured the
bankers that he will be impartial in
administering his office and that he
would not oppose any safe and sound
plan adopted by the national bankers.
After considerable desultory discus
sion as to whether or not state bank
ers should be appointed on the COM
mittee to devise plans for procedure
the convention finally decided to ap-
point state bankers on the committee
and the motion made early in the
meeting was adopted.
Committee is Named.
Chairman Marsh was selected as
the committeeman at large by vote,
and he appointed the remaining mem
bers as follows:
First district-E. E. Ames, Topeka;
B. P. Waggener, Atchison; C. E. Sny-
der. Leavenworth.
Second district-P. w. Goebel, Kan
saS city; Dennis Kirk, Garnett; L. L.
Northrup. lola.
Third district-John Lindsburg.
Pittsburg; ]. c. Travis, Winfield; G. N.
Gordon, Oswego.
Fourth district-Willis Westbrook,
Peabody; Calvin Hood, Emporia; J.
r. Pringle, Burlingame.
Fifth district-George Murphy,
Manhattan; Cal Morrow, Washington;
J. B. Lower, Haddam.
Sixth district-C. N. Sawyer, Nor
ton; George Trimball, Ellsworth:
Daniel Harrison, Downs.
Seventh district. w Bergman,
Ashland; c. f. Lobdel1, Larned; F. L.
Laribee, Stafford.
Eighth district-C. Q. Chandler,
Wichita; W. H. Burke. wellington;
w NJ. Peck, Mcpherson.
A resolution was adopted directing
the committee to meet in Kansas City
within ten days for the purpose of con-
sidering plans. It was thought that the
final decision of the federal authorities
on the Kansas law will be made prior
to that time. The temporary organiza-
tion was continued until the matters
before the convention are settled
Mr.. F. S. Hageman, of Salina offered
a resolution, which was adopted, de-
cIaring in favor of the organization of
a national bank currency association,
as provided for in the Aldrich-Vreeland
act.
The Resolutions Adopted.
The bankers also adopted a resolution
offered by Scott Hopkins as follows:
Resolved, That this convention
thanks Bank Commissioner J. N. Dol
ley for the able and forcible address
made to the convention on the question
of sound banking. 1t is the sense of this
meeting that there should not be any
entagonism between the state and ma
t;onal banks, but that all are interested
in the solution of the present great
problems relating to sound banking,