The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-06-23
BANKERS SCORE
POSTAL SAVINGS
Salt Lake Financier Leads Ar
gument Against Proposed
Financial Scheme.
Especial to The Herald-Repubiiean.)

Especial 10 The Herald Republican,
ogden. June 22-The Utah state
ton al IL o'clock this morning in the
Carnegie library. One hundred visit
ing delegates from every section OF
Utah listened TO the opening address
Of A r. Haywood. president OF the Og-
den Clearing House association
Postal savings banks were roundly
scored az this afternoons session by
W. W. Ritter OF the Dcseret National
bank OF salt Lake.
Declaring such a financial plan to
be fundamentally wrong tnasmuch
ns IL put the gov eminent in competi-
tion with private interests. Mr. Ritter
laid before the convention numerous
charges against such a system.
Postal savings banks will be touched
upon more fully in general discussion
81 tomorrow's sessions Of the conven-
ton.
The convention opened with an sd-
dress by A. r. Haywood Following
the invocation By -. o. Mckay. Mayor
William Glasmann OF Ogden delivered
the first address OF welcome. lie
rendered the freedom OF the city TO the
visiting bankers. or chief import In
the mayors address was rcCOmmen-
dation favoring the issuance Of clear
Ing house certificates in emergency
eases. such as that arising I'm 1907.
President A. r. Haywood OF the We
Der club then welcomed the visitors
on behalf Of that organization lie
confined his remarks 20 general tnVt-
tafions TO the social affairs arranged
In responding on behalf Of the as
Eoclation. John r. Tolt0n OF Beaver
emphasized the need OF closer union
between the business men Of the state
and especially the bankers. He pre-
dictcd that with proper union OF Inter
ests the banking business OF the state
could be placed on basis absolutely
free from the dangers now attending
the financial world.
At the afternoon session a. n. Hey
rmurnarwFnH Lewis HIS OF
Salt Lake. president Of the association,
who was 10 have delivered an address,
but was unable TO attend. Nr. Hey
wood read a communication from the
president In which he declared he had
bit one recommendation to put before
TIE convention. This was that a com
mittee should be appointed 20 confer
with the banking committee OF the
state legislature with reference TO any
proposed amendments 20 the banking
Avs Of the state Acting on this sug-
a. stion. the following committee was
a. pointed TO look into the presidents
Recommendation and 20 prepare res
olution 20 this effect:
W. S. Mccormick, chairman; George
Whitmore. r. =. HOag. r. T. Badger
J. III. Peterson.
The address OF W. S. Mccormick OF
Salt Lake. on Early Banking In Utah
was an interesting bit OF financial his
tory. other speakers at the afternoon
session were william SpiggOt. presi-
dent OF the Utah State Federation OF
Labor. who talked OF savings Banks
and S. A. whitney. cashier OF the Nc
Cornlck bank at salt Lake, who made
his annual report as secretary and
treasurer.
Immediately following the afternoon
session the visiting bankers were tax
en- to the Hermitage IN ogden canyon
In autos and by trolley, where, az
o'clock. several hundred persons, IN
Guiding the delegates and their wives
Fat down 10 an elaborate trout and
chicken banquet. A ball followed.
The convention viii go into actua
busiress session tomorrow morning
WREN a number Of important bankinf
questions win come up for discussion
and rect action.