The Birmingham age-herald., 1911-11-19
Five Special Trains Filled With Delegates Reach
 the Gulf City
EX-S SENATOR ALDRICH
 TO DELIVER ADDRESS
Formal Opening of Convention Will Be Held Tuesday But Committees Will Work Tomorrow-Head- quarters Opened

1 New Orleans, November 1S.-With the arrival today of five special trains, two from New York and three from Chicago New Orleans tonight is host to 1000 hnan- ciers who are here to attend the thirty seventh annual convention of the Ameri- can Bankers association, which begins Monday morning.
 | During sunday and early Monday morn ing the numbers will be swelled by the arrival of special trains from PennsFl- vania, Ohio. Kentucky. Missouri, Kansas 1 Oklahoma and Western and Southern states.
 l It is expected that when the conyen- ton is called to order the number of dele gates and visitors in the city will exceed 40oO persons.
 1 Although Monday will be a busy day 1 for the bankers, the main convention or | the association does not open formally until Tuesday morning. Monday. will be taken LID with meetings of the various committees and the executive council or l the association.
 A number of social features have been arranged for Monday afternoon, to be followed by a banquet in honor or the executive council that night.
 Among those who arrived here today were E. o. watts of Nashville, president of the association, and Frederick F. Farnsworth of New York, general seere- l tary.
 Stress Currency Reform
 MT. Farnsworth said he expected the convention to be the most important the association has ever held He spoke espe- l cially of the subject of currency reform and the National Reserve association plan, to which q special programme Of 10 addresses will be devoted
 Another prominent arrival was former United States Senator Nelson A. Aldrich of Rhode Island, chairman of the Ma
 tIonal Monetary commission MT. Al- drich was busy preparing his address on ! the efforts of the commission toward sc curinga more elastic currency, which he
 will deliver before the coIiveption.
 It is expected the convention will con sider the plan of enlarging the associa- ton by the creation of another distinct section, which shall have for its members Investment bankers and likewise invest ment departments of national. state and private institutions
 Another proposition which will probably ; come up for consideration will be plan to be submitted by former Gov. M. T. Herrick of Ohio, proposing the organiza- ton of a body finder governmental SUI pervision,. which shall have for its pur- pose the making of loans at low rates and | tt,a fr,a Of and plantations of the United States.
 The election of officers of the associa- ton will be held Friday next. which Is the last day of the convention. Under the system of rotation in office, custom which the association generally follows, l William Livingstone, president of the Dime Savings Bank of Detroit, now first vice president, will become the next pres ident.
 Detroit Is the first city to announce a desire of entertaining the bankers in 1912.
 First Special Arrives
 The first special train bringing eastern I bankers to attend tho 37th annual con- vention of the American Bankers asso- | citation which opens here next Tuesday arrived this morning and was followed this afternoon by four other specials with bankers from Chicago and other cities | Col Frederick E. Farnsworth, secretary of the association. was the first official | to arrive and immediately established his headquarters for the convenience of early arrivals and to organize his large work ing force.
 Local Cornell men met Dr. Jacob Gould Schurman, president of Cornell univer- | sity, another prominent guest who arriv- ed this morning. He is to be special guest of the New Orleans Clearing House association and together with MT. Aldrich will be among those who will deliver ad- | dresses at the banquet next Monday night.
 The first of the social events has been arranged for tonight when the local chap ter of the American Institute of Banking holds a reception for the national presi- dent, Raymon B. Cox, Cornell Pierce, Alexandria Va. chairman of the exc cutve council; George D. Allen of New York, educational director. and A. c. Doris of Nashville, secretary. A mum Der of addresses of particular interest to 1 tho members of the institute will be de- livered. The officers of the institute arr rived this morning and meetings will be l held during next week.
 | Col Robert J. Lowrey of Atlanta Myron T. HerricS of Chicago and John L. Hamilton of Hoopeston. H., all for mer presidents of the bankers associa- = tion, have accepted invitations and will be guests at the banquet next Monday evening, which is to be given in honor of the executive council of the asso- ciation.
 The National Reserve association as represented in the Aldrich plan and It's modification will be dealt with by the foremost financial authorities of the Icountry during the course of the con vention. Every phase of the plan will be covered in more thorough fashion than ever before. and 1t is expected that definite conclusion will be reached before the adjournment of the con vention. f Sas
 Topics of Convention
 l The discussion of the big banking problem has been divided into the fol- flowing topics: The proposed monetary plan; trade depression and panics: trade expansion and crop movements: : the organization and control of the National Reserve associations; the rela- tion of the National Reserve associa- tion to the government; relation of the state bonds; savings banks and trust companies to the association; circulat- ing credits, rediscounts and book credits; bank acceptances and the re- action of discount market; the mob ilization and control of tho reserves of the country. interest rates. earnings dividends and taxations; keeping the
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