The Birmingham age-herald., 1911-11-25
Congress Is Urged to Deal With Proposition as an
 Economic Question
DETROIT CHOSEN AS
 NEXT MEETING PLACE
Report of Bills of Lading Committee Referred Back to Committee for Further Consideration
 After Debate

New orleans, November 24.-With but one dissenting vote the American Bank CTS association today gave it's unquali- fled approval to the proposed Aldrich plan for the reform of the monetary system of the United States.
 Congress was urged to deal with the proposition as an economic question outside the domain of party politics. Confidence was expressed that the high purposes actuating the national monetary commission. assure the work ing out of the details in accordance with the sound principles stated in the confidence and support of all classes" M
 Following the election of officers, the thirty-seventh annual convention of the association, which convened here Tues day, came to a close. Detroit was unan- imously chosen on the first ballot as the convention city in 1912. Boston, Atlantic City, Chicago and Jackson vile, Fla, gave notice that they would ask for the convention in 1913.
 Vice President William Livingston of Detroit was elected president and c. II. Huttig of St. Louis vice president. The convention then adjourned.
 The executive council tonight elected the following officers:
 Chairman of the executive council, Ar thur Reynolds, Des Moines, la.
 Treasurer-J. Fletcher Farrell. Chicago.
 Secretary-Col. Fred E. Farnsworth. New York.
 Assistant Secretary-William c. Fitz- wilson of New York.
 General Counsel--Thomas B. Patton, New York.
 Cannon, New York.
 The insurgents" of the association won a negative victory today in their fight to prevent succession in officers. The resolution of c. II. ScNider of Mason eity,f h. 4sesigncd a ptsyent sihs gSso1 called s.clique rulc" ini the association. re- suited in bitter convtrosery on the floor of fhe convention and even threats of tMe secessio nof the trust company sec ticn from the association. The proposed amendment to the constitution contained in the McNider resolution. received ma iority of the votes cast but failed of adop- tion because it lacked S4 votes of the re- ouired two-third majority.
 NJ Report Sent Back
 Alter long drawn out debate the members of the American Bankers as-
 
 in convention here today re- referred the report of the bills Of lad Ing committee back to the committee for further consideration. The report as read approved the central bureau plan for the velidation of cotton bills of lading, known, as the Liverpool plan, which southern tankers, cotton men and exchanges in convention here re- gently condemned in' a set of vigorous 
 The convention instTsucted the com mittee to conseder theA resolution by Sol Wexler of this city,A chairman or the bills lading committed Of tpe New Orleans Cotton exchange, ofered III leiu of the report. The motion also provided that MT. wsxler be made member of the bills lading committee in addition to anotheI southern banker to be selected later.
 The bills lading cbmmittee WAS m structed not to take Any action bihuins the American Bankers association 10 any certain plan, ahd that no repcrt was to be made unfl the 1912 meeting of the conventioni This action wa4S taken upon the mttion of D. H. Pier-\ son of New York dty. which, however, was not carried without considerable opposition and dbate.
 MT. Wexler, in reviewing the entire bills lading question, slated that the bureau plan had been vigorously opposed by the cotton exchanges Iof Houston, Memphis, Savannah, Vickshlrg, Austin and other organizations, gifng the reason that 1t singled out cottin from the other vast shiiped abroad and that it cast a stigma uIpn the honest cotton deal CTS of large ection of the country.
 'Furthermore mark my word,' said Mr. Weyler, "as sure as the central bu- reau is continied, just so sure is there to be greater bsses to American bankers than ever bef)re. We win grow to lean | upon it for piotection. A man today who | can't negotia.e his paper will begin to operate by inderweighing. over grading and hundred} of other ways. Those in the central flreau are only human, and they will make mistakes. Sometime there will be an embarrassing situation when the central bureau will declare as for gery a perfectly good document. Then there will be d damage suit and some bodys credit hurt.
 Railroads Responsible
 What ve are mostly concerned in is | tie railroads responsible for the | acts of their agents. The central bureau | is suppnfted largely by the railroads Why? Because they have read the hand 1 writing on the wall, and they know if | this bureau is not established they will he | held responsible for the acts of their agents h < R. D Kent of Passic, N. J.. in speaking | in favor of the adoption of the commit | tees report stated that the convention ! could not approve MT. Wexler's resolution | because the Liverpool plan had been put into operation after the executive council of the association had given it's approval. l! MT. Kent regarded the ce<tral bureau as a plan for the benefit of all concerned; 1 that it was the easiest and simplest plan for the marketing of cotton documents; that it cast no reflections upon any one, ana that 1t did and would protect every institution connected with the transac- ton between buyer and seller.
 A. Breton of this city spoke against the approval of the committee's report and was followed by John D. Dismukes of St. Fla. MT. Pierson's motion to refer irrlrediately attracted the attention
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