Omaha daily bee., 1909-09-09
RECOMMENDS HOWE u. LAM
Inspection Of Banks by ASS -lO1
Feature of Scheme He Endorses.
COMPTROLLER THoUGHTLEss MAN
Bankers Upset by Ordering of State
ment for Condition of Business
Ending September s--Dele-
gates at Country Club.

gates at Country Club.
Who will be the next president OF the
Nebraska Bankers association rests IN the
decision OF the committee on nominations
appointed yesterday afternoon by President
Rurnham The committee will hold an ex-
eoutive session this morning before the
convention resumes and pick its man. His
election will follow this afternoon without |
dispute.
There are no open or avowed candidates
and there has been almost no gossip on the /
subject President Burnham has given gen
eral satisfaction as the head OF the associa-
ton the last year and were reelection |
customary he could have It again for the
say-so The committee on nominations is |
headed by Frank McGiverin Of Fremont |
the others being f. NJ Castetter of Blair,
w. H. Mcdonald Of North Platte, q. N.
Seymour Of Elgin and w. II. Bucholz OF
Omaha.
President Burnham appointed the COM
mittee on resolutions. as follows: J, C.
French, South Omaha, chairmAn; w. A
Taylor, Hastings; Arthur Mcnamara, North |
Platte; V. b. Caldwell, Omaha; L.. B.
Howey. Beatrice
The committee on auditing includes A
%. Grantham, Lexington, chairman; T. ].
City.
The convention went under way at the
morning session yesterday with a few
fervid remarks regarding the comptroller
of the currency and soma sharp criticism |
on bank guaranty" legislation.
COmptrOIler Considered Nuisance.
The comptroller of the currency dis
cussed unofficially. but with emphasis. be-
cause that person, unintentionally, of
course had called for a bank statement
just as the convention began.
The remarks on guaranteeing bank de-
posits came from President c. z. Burn
ham of the state association In mis- annual
address
After mentioning the action of the last
legislature. he saids
believing that this was a personal mat
ter we have studiously avoided any action
being taken by this association In an Of
ficiai manner. Personally, / opposed
TO the so-called guaranty, but considering
as 1 believe the minority has right which
the majority is bound to respect and
cheerfully does respect, have endeavored,
with the help OF our secretary and others,
to keep the association. free from uugA-
lion.
stays ny ola Ways.
Il am one OF those oId-fashiOned bankers
who believe that the only way Of providing
against bank disaster is 70 adhere strictly
20 The lines OF legitimate banking. which
In the long run will not only result In
better banking. but greater confidence 1t
is not possible to expect the people to put
their absolute trust and their money into
institutions which agitators are attempting
TO discredit. II the men who make the
lawF under which the banks must do bust
neas consider Il necessary to magnify q
wiaf xEJha NJ
the average individual infer who has no
working knowledge Of bank. and only
bases his faith upon the fact that the bank
is Allowed TO do business under the proteo-
tion Of the state or government
Banking Is necessary to the business OF
the people and commonwealth; were It
segregated from the balance OF the business
world, sort of a parasite upon the in
dustry OF others, then deposit guaranty
might be necessary. but In the direct an
alysis OF the whole question. 1t is the mass
OF the people who suffer from the shaken
confidence and not the capitalist alone.
For this reason 1 am firmly convinced
that the better plan would be to leave the
entire matter OF better security to the
depostor, to the men engaged In the bank
ing business, and, by adopting what we
Of Nebraska know as the Howey plan,'
We will do more towards providing for
the depositor more security than any leg
islative plan yet suggested This idea was
advanced by Mr.. Howey in 1906. prior TO
the adoption by any political party OF any
so-ealled bank guaranty plan, and again
after our last meeting In 1905"
Outlines HOwey Plan.
Mr.. Burnham then briefly outlined the
'Howey PLAN" which calls for a super
vision and control Of members of the
Nebraska Bankers association through the
application OF clearing house principles,
and includes the striotest sort of examina-
ton OF members by specially employed
experts
The presidents address followed an ad-
dress OF welcome by Joseph H. MillArd,
president OF the Omaha National and the
Omaha Clearing house. and was responded
20 by George N. Seymour OF Elgin. With
the appointment OF committees the morn
ing session adjourned.
Two hundred members OF the association
had registered at the Rome before the
meeting At the Elks' club began. Among
the visitors a number OF bankers from
New York, Chicago. Denver and other
cities outside Nebraska. who have come
10 take part in the program or for pri-
vate business reasons.
Among these are Colin Campbell OF the
Fort Dearborn National. Chicago; James
Rngold United States National Denver;
+, l. Irish, Denver National; w. b. Dickey.
National City, Chicago: c. A. Marshau
Phoenix National. New York; w. %,
Wakefield. Corn Exchange. Chicago; n.
r. Brough, First National. Chicago; J. A
4 p-atta. North American National, Chicago,
y frank Brundaee. representing Knoutb
Nachod q Kuhna. New York.
Newspaper Man = Banker.
former Omaha newspaper man. NJ 7.
Lombard representing the Bankers Pro-
tectlve association is attending the con
vention. Mr.. Lombard. who was on the
staff Of The Bee In the early 'SO.. later
TC,oDt,n,ss or ssoo0S -