Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1909-09-13
AMERICAN BANKERS
GATHER IN CHICAGO
NATIONAL ASSOCIATION DIS
CUssiNG LIVE TOPICS AND
FINANCIAL REFORMS
POSTAL SAVINGS BANKS
ARE VIGOROUSLY oPPos
Effort to Be Made to Secure Enact
= OF Law Providing for Uniform S
Bills Of Ladins-President 7
Be Present at Bankers Bang, : a
Reception.

Chicago, Sept. 13.-Preliminary work
Bankers Association. which opens for
mally tomorrow. occupied the attention
o. many bankers gathered in Chicagu
today. Committee meetings filed the
morning, among them being the cur
rency commission, which is to repor;
OF national financial questions. the fed
eral legislative committee and the joint
conference on bills of lading.
While the committee meetings are
In progress sessions of the convention
of the National Association of Super
Nisors of State Banks were convened
ing laws was presented. Questions OF
wide import to bankers and all inter-
ested in financial matters were dis
cussed
Sessions of the bankers convention
will continue until Friday night and
include the ball and reception, which is
to be attended by President Taft dur
Ing his stay in Chicago.
Postal Banks Opposed.
1t developed as soon as the visitors
had begun to circulate and talk things
over that the members of the convcn-
tion are almost to a man opposed %
the bank guaranty and postal savings
pank movements. You can't pass any
law that will guarantee a mans hon
hn
vanced against the guaranty PROPOSE
tion. To postal savings banks two
leading objections were offered. One
of these was that savings banks are
the repositories of community mone,
and should be used for local invest
ments, and the second that postal saw
ings banks will lead to the depositine
of large amount of money in the car,
OF the government, giving cause TO
| movements for its investment that ma,
| result in government ownership 81
public utilities and other forms OF pa.
ternalism
The subject In which the financiers
are most deeply interested and with
which this years convention will have
the most to do is that of securing q
federal enactment and uniform state
legislation on bills of ladng Vice
President Lewis e. Pierson of New
York. who will without doubt be elect
ed president of the association for next
year, is the head of movement which
will probably result in the next con.
gress being asked to pass bin of lad
ing measure. The big committee
meeting of today will be that at which
this subject is considered. MIR. Piersor
VIII be one of the chief speakers at this
conference and 1t is expected that this
convention will be asked to indorse
drafts of bills to be submitted to all
the state legislatures and to approve OF
bill to be presented to congress.
Bills Of Lading and Banks.
Committee meetings, preliminary tc
convening the bankers convention were
held today. One of the principal meet
ings was conference on uniform bills
of ladng. which are often used as a
basis of credit by customers of banks
and bankers are anxious that they bt
placed on a safe basis so that, as ne.
gotiable Instruments. they may be
handled without risk At the confer.
ence resolution calling on delegates
to urge in their several states the pas
sage of uniform bill of lading law was
unanimously adopted. Another resolu-
ton adopted recommendation that con
gress be petitioned to pass fedora
bill of lading act in conformity to the
interstate commerce commission form
The federal legislative committee de
cided to report adversely on guarantee
banks and against postal saving.
banks. substituting in place of tn,
measure recommendation for The
adoption of a savings bank department
by national banks.