New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-09-14
DEMAND PENNY POSTAGE
BANKERS Urge Better System to
Aid the Farmers.
CURRENCY REFORM PASSED
ponkers Who Speculate with
Funds Intrusted to Their Care
criticised-New Council.

no.roit. Sept. lS-The American Bank
~. Association concluded its annual con-
,,u,IOn late to-day by selecting Boston
,s next meeting place. formally adj
..,,ing Charles II. Huttg, OF St Louis,
,.,,, ylce-president to president, and al
most unanimously declaring for penny
,,.,src on ordinary letters.
she currency reform question was not
,or I'D nv the convention to-day. Prac-
.,.gv the only attention given to the
.,..,er vas contained in a short address
a,,be new president. lie pledged himself
:, work for the passage Of laws that
,.ln keep banking business in a norma!
and healthy condition.
r.,,te1 States Senator Charles z. Town
INA of Michigan. addressing the bankers
,b,s afternoon, severely criticised those
,bo no declared, speculatod with funds
entrusted 10 their care. He announced
bl,oself I'm favor Of law framed to pre-
won't banking concerns of any nature from
rslne any Of their funds for purposes out
lido the range Of strictly conservative
pop.speculstive business.
Much of the afternoon session was de-
voted TO the election Of officers. including
v,ce.presidents, from the various states
and territories. and the new members OF
N. executive council Arthur Reynolds,
of pes Moines, Iowa. retiring chairman
of ;hs executive council. was chosen to
,sec.ed Charles II. Huttig az vice-presi-
cent. and the following we're named rs
members Of the council;
For two years-F. ]. Carr, Hudson, Wis.
Tor three yesrs-Joseph 4. McCord, At
lsntai = F. Clinton; 3r B SiIs 1I HdaR ~
+ Tenton, Chicago; Joseph r Eoris,
BEDFORD, Ind.; II. ". Carpenter, Monu-
clio Ia: Z. Z. Ames, Topeka; T. :.
Kennsrd, Rumford, Me: Downie MUIR
Boston; William a Mackie, New BED
ford. Dudley +. Waters. Grand Rapids
Mich; Joseph Chapman, jrr Minneapolis;
J. 3. Calfee, ST. Louis; a. d. buckner'
Paris Mo; W. II. Bucholz Omaha; n. j.
Parker. Brunswick, y. J.; Walter n. BEN
nett. New York; D. .. Willis. Pittsburgh;
]. L. Hutton: Columbia, Tenn; ,o -; NJ
Zen Antonio: ". d. Vincent, Spokane;
NJ Wing, la Crosse. Wis: Ralph w.
cutler. Hartford Conn, chairman trust
company section: W. T.. Knox. New ork'
chairman savings bank section; \. -.
Wilson. St Louis. chairman clearing
houss section; W c. McFadden, Fargo,
y n. chairman state secretaries sec
lion. and T. A. Crandall, Chicago, chair
mar American Institute Of Banking
section.
The executive council tonight elected
The follow ing officers:
Chairman. Thomas ]. Davis. Cincin-
rsti: general secretary. Fred Z. Farms
worth. New York; assistant secretary,
William c. FitzWilson, New York: treas
u,cr. J. Fletcher Farrell, Chicago: general
counsel. Thomas y. Patton. New York.
William r Greer. OF Cleveland. was
SPONSOR for the resolution asking the
convention 20 declare for penny postage.
But one vote was registered IN opposition.
Nr Greer. in his address, devoted most
Of his time to an attack on the magazine
POSTAL rate He declared that number
Of banks connected with the association
have spent annually from $500 TO $780,
% for ordinary postage, and added that
While it now costs eight cents 20 mail d
copy OF the Holy Scriptures, eight copies
Of certain periodical can be mailed for
? cent
Among the addresses on agricultural
topics delivered at to-dsy's opening ses'
sion was one from Bradford Knapp
special agent Of the Department of Asri-
culture He urged the bankers TO devise
better system Of financial assistance
FOR farmers, and declared against what
ne termed a wasteful system OF distribu-
ting the output Of the farmers.
Charles A. Consnt, OF New York, spoke
On Land and Agricultural Credits OW-
Ing 70 tho absence Of Andrew NJ. Soule,
Of Georgia, his prepared address on
Agricultural Development and Educa-
lion was presented TO the convention
and placed on record.