New-York tribune., 1909-09-15

bank to shorttimc credits of this character: those
would make the bank bank Of discount for the
necessary TO do SO enable il employ its funds.
1, would allow the bank To accept discounts from
me public hut il should not receive deposits irom
me public Whether not the right Of discount
should be extended TO state banks also is only
lnsntes OF detall, and Is not important from the
kIandpoiht Of discussion Of The plan Of central
If it is wise restrict the character Of the paper
which Viii be eligible for discount the bank 10
credit or TO paper representing an actual trausac-
non non IN business between solvent Concens-why
Shoua We not make paper OF that character. with
basis of security for iis hant1otss Soi III @ f t
purpose would insure an elasticity in the note as
circulating medium. and the notes which would be
matcay contract and be retired from circulation
, i.Sn te uansacton creating the credit had been
completed and the credit paid
! would provide for the supervision Of this bank
The Imperial Bank OF Germany or the Reichsbank
A nA tle appointment Of a general governmental
which should be appointed Jointly 10y the President
ury and Tie Controller of the t'Grrencv would
| have another board selected by the stockholders
ne members OF which would confer with the ON
ffIs ana TINS Supervising board. but: in order that
removed from politics. and to prevent the posi-
pllit! 81 any syndicate gaining control Of the
they had conferred with The board representing the
ib dsd,, oes'ed With fun power 20 appoint
reespecye positions for long periods OF time for
or malfeasance in Office.
The delegates were welcomed 10 Illinois ana Chi
cago by Governor Charles 5 Deneen and Ioseph
T Talbert, president of the Chicago Clearing House
Association Response made by Colonel Rob
ert J. Lowry. OF Atlanta ex-presdent Of the Bank
ers' Association.
pause in the regular programme Of the day
was made to permit Speaker Cannon 10 address
NE bankers and later the reports of the secretary
ana treasurer were read. showing the association
IN point Of membership and financial standing TO
be in excellent condition.
Some criticism Of the express companies acting
In dual capacity as bankers and common ca arriers
was included in the report OF the express companies
ana money orderG committee which review the
course Of litigation by which the association is seek
ling TO oust the express companies from the bankns,
field.
Work OF the bill OF Iading committee was outlined
to the convention by the chairman. l. T. Person
informing the delegates of the progress in obtain
ing uniform bin OF ladng laws and the necessity
OF further effort in that direction. The resolutions
adopted at the conference on the bill of ladng
question on Monday viii be taken up later in the
convention.
SURPRISED BY MR. SHERMAN.
After the adjournment of the regular session Of
the convention Vice-President James :. Sherman
surprised President Reynolds who was Just ex-
planning that Mr.. Sherman could not attend the
gathering by stepping TO the platform and saying
Here is Mr.. Sherman now"
The Vice-P President who was scheduled 70 sneak
Tomorrow. but had cancelled the engagement
stopped a few hours in Chicago to-day. on his
way from Kansas City 10 his home in Utica. lie
took luncheon with Speaker Cannon. State Repre-
sentative Edward J. Smejkal. Congressman Bouteu
and others. and afterward unknown 10 the dele
gates, listened 10 the address Of Mr. Hill
Mr.. Iiill made a strongs speech" said Mr. Sher-
man, but if were TO talk would add that while
Eastern farm lands have unquestionably lessened
in value the farm lands Of the West opened up by
the railroads of the country have increased won
derfully in value"
Speaker Cannon. who addressed the convention at
the close of the morning session. declared that the
Vreeland-Aldrich currency was not perfect but
had had good results. Il believe he said that
the only fault OF the law is that IL lasts
only six years. II is not perfect but II can be
made perfect. IL that law had been on the statute
books there would never have been suspension OF
business in 1907. with its issuance clearing house
certificates"
PROTECTIVE COMMITTEES WORK.
The report of the standing protective committee
gave the following data Of the committees work
during the year just ended:
The record of criminals arrested convicted SEN
fenced. awaiting trial. bank burglaries. etc Ar
SeS[ed prior TO o September ten 1905 25 arrested since
years and months. indeterninate terms p: sus-
pended sentences .: escaped 3; released. IS; died
During the last year there were eghty-nine at
tacks against nOn-members on account of success
teen members Loss 10 nomembers m vas s7 M n
of sll62Sl 26
Hold-up robberies upon non-members were eight
with loss OF s2.62j. against attack on seven
members. with loss Of S5.Oi2 Is. making a dif-
The total imprisonment for criminals that have
o m eas and DOR me months hs does not ne5
twenty-one indeterminate terms
UNIFORM BILLS OF I4ADING.
The report of the committee on bills Of Iading
recounted what has been accomplished since last
year toward securing uniform bills of ading and
said that a result OF the hearings before com
mittees OF Congress last winter and those of pre-
Yious session IL is believed the proposed Con-
gressional legislation successfully meets all
fair objections and when urged at the next ses-
sion will succeed. The report adds:
At the suggestion of number of important
form OF resolutions which have recently been
changes throughout the country which provide
that hereafter no drafts be paid by their members
issued by the carriers without the following safe
a. Every bin OF lading must. in addition TO the
signature, bear also the official stamp the au-
thorized issuing agent. such stamp giving date
20 All the writing said bill OF lading must be
IN ink or indelibe pencil, and the quantity re-
cepted for must be written In full in addition 10
the numerals.
Al the closing session OF the convention OF the |
National Association OF Bank Supervisors resolu-
tiOns were adopted In the afternoon favorinR the
plan OF Controller Murray for cooperation between
the state and national bank examiners and n gem |
eral discussion OF financial questions was held
While no definite announcement has been made |
II Is generally understood that the next president
OF the Bankers Association will be Lewis L. Pier
son, president OF the Irving National EXCHANGE
Bank. of New York, now vlce-president ~ the
organization. This will follow the usual custom
OF the association 20 elevate the vIce-uresident
each year 20 the presidency
There will be no regular session of the corver |