Middletown transcript., 1911-12-16
THE BANKERS CONVENTION
Mr.. N. Willis Talks Of Business
Conditions Throughout Country

i General business conditions through
out the country at the present time car
really be guaged by the conditions in thii
part Of the country, said NJ. N. Willis
who has just returned from the conven
| tion Of the American Bankers Association
al. New Orleans. "In the South bushes:
is spotty, trade being good in some places
and dull in others. To some sections there
is a good movement of cotton while in
others the farmers are holding the cotton
back in the belief they will get higher
prices. Yeti the cotton men in New Or.
leans are all talking lower prices for the
staple.
Business throughout the country seems
to be holding back because of politics and
the coming Presidential election. Money
is plentiful and there is good undertone
to business, but dealers are working on
hand-to.mouth basis and show no dis
position to increase their lines until the
election and tariff question are settled one
way or the other. tbs the uncertainty re.
garding tariff legislation that causes
trouble. After the Presidential election l
think business should have rapid expan
sion improvement.
'fFhe Southern cities are still going
through the reconstructive period which
is necessary to their development. In
New Orleans for instance the city has tax
en- over the water works and in the past
five years has spent about $40, 600, 900 on
filtration, drainage and sewerage system
and will have to spend about 100000 600
more before the system is completed. Peo.
pie in New Orleans were always afraid to
use the water from the Mississippi, go
they erected large cisterns at the back of
the houses and caught rain water for
drinking and cooking purposes. Atthat
time there was practi caIly little drainage
and water could be struck in most any
part of the city at depth of five feet. To.
day, however, the drainage system now
installed carries eff the water.
6Ume yeuTs ago private t6fff had e
charge OF the water works, but it could
not operate proftably as it could not get
the people to give up their cisterns and
buy water. Since the city took over the
water plant an ordinance has been passed
requiring cisterns to be uune aasy with
and that all houses be connected with the
city service. The water which is supplied
is pure end clear. The new water system
together with the drainage and sewerage
is expected to do much towards improv.
ing the general health fthe city,"
Mr.. Willis said that the Aldrich cur
rency plan was about the one topic of dis
cussiou during the whole convention. He
said that the opposition which arose to it
was among the bankers in the outlying
districts and small towns and that an edu-
cational campaign will haVeto be carried
on before the plan is thoroughly under
stood.
Mr.. Willis took the trip via Pennsyl-
vania Railroad Special, travelling on the
same cars there and back. He says the
took exceptional care OF
them; that the train was made up of all
pullman cars. They had barber, bath,
men's club car and a ladies observation
car and in the observation car was
piano. Every night the whole train as
sembled in the observation car and they
had songs, speeches, recitations, etc.
While in New Orleans the New Orleans
Bankers entertained the Convention most
royslly, taking the visitors (at their ex-
psnse) on automobile trips down the Mis-.
issippi River TO a sugar plantation on
large Mississippi steamship, to ball and
to French Opera.