The Montgomery advertiser., 1909-09-17
GUARANTY NOTLlKED
AMERICAN BANKERS DO NOT FA-
 vOR PLAN,
Neither Was a Voice Raised To Favor Postal Savings System--Lewts 10. Peirsen wllI Re Elected
 President.

Chicago, H., Sept. 6--Not a voice was raised today in defence or the postal savings bank plan in the ses- | sions of the American Bankers Asso- | citation convention. nor was there a word uttered in favor of guaranty or deposit of State or National banks. In formal reports. in speeches and I in impromptu remarks both ideas were I repeatedly scored by the assembled banker who were apparently of one mind In opposing the two remedies offered for the relief of financial coa- ditions.
 The morning session of the savings bank session opened with an address of welcome by Henry s. Henschen, Of Chicago, who led the attack on the 1 postal savings bank by declaring that 1 if the good of the country demanded that the experience of trusted and in- telligent men as custodians or the peoples savings be disregarded and the custodIanship turned over to third and fourth class postmasters, the bank CTS would acQuiesce. but that If the welfare of the country did not demand such action. the bankers would protest in no uncertain tones."
 President Reynolds, in his remarks. prophesied that within a year there would be such a revision of the Nation al bank laws as would permit National
  While the savings banks section was holding its meeting. the members of the standing Law and Federal Legis- lative Committees of the association discussed the question of securing Ma, tlonaI legislation placing the taxation of banking institutions on an equal basis. James P. Helm, of Louisville. Ky. re- ported an exhaustive analysis of the varying conditions of taxation of bank capitalization in the different States ana urged the passage of a law ma king the rate of taxation uniform. Comment was made by several of the bankers on the bank guaranty law and its effect in Oklahoma In direct contra diction to the praise of State Super visor Young of Oklahoma, at the mevt ing of bank supervisors earlier in the week.
 Al the conclusion of the session of the savings banks section officers were chosen for tn section for the coming year as follows:
 President, William R. Greer. secre- tary of the Cleveland Savings and Loan Company; Vice President. Edward L. Robinson, vice president Of the Eutaw Savings Bank of Baltimore; Fl. l.. Rem- mell, Little Rock, was elected member of the Executive Committee of the section.
 Without a dissenting vote the Nom mating Committee of the association named for president of the association. Lewis E. Peirson, president of the Irving National Exchange Bank of New York; for vice president, F. o. Watts, president of the First NationaI Bank of Nashville. Tenn.
 The nominations will be placed be- fore the closing session of the coa- Vention tomorrow.
 The election of both would follow the usual custom of the association. in elevating to the presidency the vice president of the preceding year and giving to the Chairman of the Executive Council the onice of vic" president.
 William Livingstone, of Detroit, Mich. 1t is expected. will be chosen Chairman of the Executive Council.