Los Angeles herald., 1910-10-08
F|NANCIERS HOLD
CLOSING SESSION
Bankers Pass Resolution lndorS-
ing 1915 Fair, but No
City Is Named

principal address was by Senator L.
e. Burton of Ohio, who, atter us
cussing the plans of the monetary
commission of which he Is member,
asked the cooperation OF the paIlheIs
in behalf of the commission.
The association did not indorse any
citv as the proper place to hold the
Panama exposition in 1915. Instead IL
adopted a resolution approving such
an exposition and urging that 1t be
held In "the most logical place
The organization of state secretaries
was made a section of the assoclatloh.
The retiring president and the neWIy
elected head of the association received
splendid presents.
The final session was held in Temple
auditorium. the fnanciers being oc-
cupied with electing officers Tor the
coming year, passing resolutions anu
completing unfinished business. NO
selection of the next meeting. place
was made, the whole matter peing le1t
r. the choice of the executive com
mittee, although several cities Hlaoe
strong bids for the honor.
Invitations were received from san
Antonio. New Orleans, st. Louis, At
lantlc City, Niagara Falls and Rich-
mond, Va The Texas delegation nearly
took the convention off it's feet with
the vehemence Of its invitation.
SENATOR BURTON TALKS
Two sneakers on the program were
of especia1 interest. They were Sen
ator Burton of Ohio and Frank b.
Anderson, president of the Bank OIL
California Of San Francisco.
A resolution extolling the hospitality
and generosity Of Los Angeles passed
the convention during the afternoon
session with cheers from the delegates,
n,oI fpa ar that Los
Angeles has given them the most en-
ioyabIe and comfortable convention
week In the history of their organlza-
tion.
The only action taken in regard to
The Panama exposition by the bankers
was to pass a resolution to the erect
that the association approved or the
plan of holding such celebration OF
the completion of the canal and raw
ored 1t being held at the most logical
and convenient point in the United
States. No cities were mentioned.
The convention was called to order
by President Pierson, who introduced
the Rev. Charles E. Locke of the First
Methodist church, who offered prayer:
The adoption of amendments to the
constitution as suggested by the execu-
tive committee was next in order OF
business. The principal amendment
concerned making the organization OF
state secretaries a part of the larger
association, as a section and 1t was
passed unanimously by the delegates.
Hitherto the state secretaries nave
been compelled to meet as a separate
organization, but they have grown SO
influential that they had to be taken
into the association.
TEXAS WANTS MEETING
Several minor committee reports were
received, and then the invitations Tor
the next convention were read. San
Antonio undoubtedly made the greatest
showing. The convention never selects
its next meeting place until its secre-
tary, Fred E. Farnsworth, has visited
all the cities suggested and reported
back to the executive council.
After the invitation excitement had
subsidized Senator Burton was intro
duced, and for the next three-quarters
of an hour held the attention of the
bankers. A member of the monetary
commission of the, United States, Ohio's
senator is in a position to know the
exact nature Of the task which the
commission has set itself to accomplish,
and he explained this to the conVen-
ton. He asked the bankers support
for the commission in accomplishing
the things 1t Is going to try to do to
relieve the currency situation, stating
that without the financiers' aid and
approVal the commission would be
greatly Handicapped. He also expressed
some of his personal views and OBJ
servations on the currency and financial
questions in this country, being care
full to let it be thoroughly understood,
however that he was speaking for HIM
self and not for the monetary COM
mission. His remarks were received
with approval by the delegates, and he
&1,o,1 hFy ~ncj6 la
Pierson of the association for his ad-
dress.
LOS ANGELES is LAUDED
Following him came Frank B. Ander-
son, president of the Bank of Califor-
mia, San Francisco, who spoke on The
Pacific Coasts Need for Banking and
Currency Reform" Mr.. Anderson was
heartily applauded.
At the conclusion of his address ad-
iournment was taken for luncheon, the
bankers re-assembling at O'Clock for
the election of officers, and adopting
the reports of the committee on reso-
lutions.
The report of the nominating COM
mittee, as printed in full in The Her
aid yesterday morning, was adopted
and those candidates declared elected
The committee on resolutions then Of
of appreciation on the part Of the Wis
itors for the treatment they received
from the bankers and citizens OF Los
Angels during the convention. In the
warmest terms the resolution thanked
the Los Angeles clearing house and af-
filiated banks, the hotel arrangements,
the press of the city, the trustees or
Temple auditorium, the management
of the Auditorium and the citizens at
hot
This resolution was passed unanimous
ly by the convention, and an embossed
COPY of it ordered presented to w. II.
Holiday, president of the clearing
house.
INSTALL OFFICERS
The installation of the new president
and vice president closed the session.
President Pierson introduced Frank O..
bankers reassembling at 2 o'clock for
executive and pinned the president S
official badge on his successors coat,
declaring him president Just as Mr..
Watts stepped forward to address the
audience, he was stopped and Mr..
Pierson, reading a short telegram from
personal friends of Mr.. Watts in Nash
Vile, presented him with a beautiful
three handled loving cup which these
Nashville friends had sent here to Ee
given their fellow citizen when he was
installed in his new office.
After a short speech Of appreciation
and thanks, Mr. Watts introduced VIII
liam Livingstone Of Detroit the vice.
president elect, pinning on him the Of
ficial vice presidents badge.
The long followed customs or the
Bankers association-the presentment
of a silver tea and coffee service to
the retiring president-was the next
interesting feature, Mr. Pierson reeeiV-
ing q handsome eight piece set in ap-