The Hattiesburg news. (Hattiesburg, Miss.) 1908-1917, 1913-08-15

w. TlBiOTu, Ol LuHlD6TtOn, ana Mr. I
Tonsmere, of Biloxi, were members, |
read resolutions prepared with refer |
ence to this feature of the proposed law
and in discussing these said that to
the mind of the country banker the
provision for par service on collections
of country checks was the most inn
portant al vital feature of the bill
and that SO far as they are concerned
it would be better that no law be en-
acted at all than that the provision
for par service be adopted, urging
strongly the idea that the country
banker will be forced out of business
for the benefit of the banks in the
centres.
The resolutions read were adopted
by vote without division and an add
ed resolution providing for their wide
publication was adopted.
State Legislation.
When the group meeting of the
bankers of the sixth congressional
district was called to order by Vice
President ]. A. Bandi at 3 o'clock
Thursday afternoon there were pres
ent a large number of visiting bankers
and others who entered heartily into
the meeting.
Besides the bankers present who en-
tered into the discussion, Senator ].
d. Donald and Representative E. A.
Anderson were called on for remarks
! touching the proposed state legisla-
tion for banking law, and both spoke
at considerable length on the subject
Senator Donald let it be known that
he favored the Kyle bill in the last
legislature, and Mr.. Anderson was just
as outspoken in giving his reasons for
| favoring the Rencher amendments
| The subject and it's discussion grew
out of lengthy and we'll prepared ad
dress by Oscar Newton, president OF
the Jackson Bank, entitled state Bank
Legislation"
| Dr Donald, in referring to the pro
posed national currency legislation
gave it as his opinion that it is the
greatest movement of the past fifty
years. When asked as to what effect
| 1t will have on the small country bank
he said that if it forced such banks
out of business the better. He added
he had known of where the failure OF
such banks had we'll nigh ruined small
communities. Addressing himself to
the bankers he said when they sent
their committee to Jackson At the next
session of the legislature he would &C
cord them a most considerate hearing,
fellows who know banking conditions
and are able to judge as to who should
be allowed to engage in the banking
business
Resolutions.
The resolutions opposing certain
features of the GLASGOW bill, adopt
ed by the bankers were as follows:
Whereas, Congress has now under
consideration the passage of a banking
and currency bill for the reform and
betterment of our present financial sys-
TEN, and
Whereas, This great question vital
ly affects the welfare of the people of
Mississippi, especially as regards the
interests of approximately thirty thou
sand of our citizens who are sharehold
ers of the banks of our state, and
Whereas, The said bill, in its present
form, while containing many splendid
features, also contains some provisions
that will initiate seriously against the
best interests of the banking busines:
of the entire country. and
Whereas, the proposed bill does mo-
fully and satisfactorily define tn,
rights of state banks and trust com
panies, which institutions constitute :
large majority Of the banks Of thii
country, and are servfbe d majority o
the people and whose westaFe, and thu
OF their customers, will be greatly al
fected BY the proposed legislassSn. an,
Whereas, The bill as now fsandet
tends to reduce the earning poweY d
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