The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1913-09-05
ASK VITAL CHANGES.
BANKERS CONFERENCE ADOPTS
RESOLUTIONS URGING CUR
RENcY BILL BE AMENDED.
AGREE TO AID LEGISLATION
Policy of Cooperation With the Ac-
ministraton Wins on Final Day OF
Sessions Held in Chicago-Want
Five Reserve Banks.

Chicago, Aug. 25.-The currency
conference, called by the American
Bankers association TO consider the
Glass-Owen bill now before congress,
tremendously finished it's labors at
the Hotel La Sale by unanimously
adopting resolutions calling for impor-
tant changes in the measure. and au-
thorizing the appointment OF com
mittee Of seven to present them at
Washington.
The personnel of the committee is
as follows:
James b. Forgan, president First
National bank of Chicago; George Nj.
| Reynolds, president Continental and
| Commercial National bank; e. ]. Hill.
vice-president National bank of Nor
walk. Conn: r. F. Maddox. vice-presi-
| dent American National bank, Allan
IA. Ga: Sol Wexler. vice-president
Whitney-Central National bank. New
Orleans; Joseph Chapman. vice-presi-
dent Northwestern National bank.
Minneapolis; Festus ]. Wade. presi-
dent Mercantile National bank, ST.
Louis
| Trip TO washington Walls
None of the seven was named def
nitely as chairman, but it is expected
the head will be assumed by Mr.. For
gan as first on the list and also as
| vice-president of the currency com
mission of the bankers association.
Neither was the time for the confer
ence at Washington fixed.
h. -orlrn
scented AZ states-have no hope that
their suggestions will be embraced in
toto by congress, they do think they
will win many notifications. The
conflicting Chicagoans-George Nj.
Reynolds and James B. Forgan-
agreed upon it, and Mr.. Reynolds
summed up the general opinion when
he termed it:
IAN able. dignified, and courteous
set of recommendation which will en-
courage further attempts at 1egisia
ton on the part of the bankers.
Forces of Cancellation Win.
Chairman A. Barton Hepburn OF
New York reminded the delegates
that approval Of the resolutions did
not alter the bill, and urged large
attendance at the national convention
of the American Bankers association
at Boston on October 6. At that time
he expected the Glass bill would still
be before congress.
Aqree to Five Reserve Banks.
AS forecast by the Reynolds ad
dress. the committee held to the plar
of one central reserve bank. but, real
izing that this recommendation woulc
fail. named as an alternate not more
\ than five reserve institutions. a.
against the even dozen provided IL
the bill.
1t was also provided that nationa
and state banks and trust companle:
NAV subscribe to reserve bank stock
; eliminating the compulsory feature o
the Glass bill
In this same connection alteration:
[ were made in the amounts of stool
? the banks should subscribe to the re
) serve institutions The bill provides
20 per cent. of the unimpaired capl
tai. and this was rerudecd to 10.
Change Reserve Board Personnel.
Radical changes in the personnel o
t the federal reserve board were fore
: cast by the Reynolds address of Fri
: day. and the committees report ampl,
fulfilled expectations.
The board, as before. will comprise
) seven members, and the secretary o
the treasury will retain an ex-offi cit
: membership. The secretary of agri
: culture and the controller Of the cur
rency are eliminated. however.
Instead of four members being Sc
9 lected by the president. he is allotte,
q three. and the remaining trio are to b.
r chosen by the directors Of the fedora
! reserve banks.
All state banks which accept mem
bership must use the word national II
4 connection with their corporate name
; The Glass bill provides that al
j, money now in the national treasur
II shall be distributed among the re
serve banks within a year OF the act
passage.
= WASHINGTON. Aug 26.-Presiden
Wilson told White House callers tina
), so much OF the recommendations O
the CHICAGO bankers conference pre-
posing amendments to the administra
ton currency bill as related >to tn
, essentials of that bill as now draw
1, would not be entertained by the aC
% ministratiun The president made
: clear that any recommendations hay
=, ing TO do with transfer OF the powe
of the federal reserve board, or |
any way impairing the full power
=, now conferred upon 1t, would be fiatl
disannrnYed BY him