New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-10-08
SAVINGS BANKS DROP
POSTAL BANK ENM|TY
American Association Told That
Introduction of System Has
Not Injured Them.
SECTIONS CHOOSE OFFICERS
A. Barton Hepburn Declares
Convention Most Important
Since the Currency Stand
ard Was at Issue.

Since the currency Stand
= ard Was at Issue.
Boston, Oct 7.-savings banks OF the
country have abandoned their opposition
to the postal savings banks. according to
r. c. Stephenson, OF South Bend, Ind
president OF the savings bank section OF
the American Bankers Association. Mr..
Stephensons report, delivered to-day at
sectional meeting, held in connection
with the thirty-ninth annual convention
OF the association, showed that the saw
ings banks have not suffered appreciaoy
by the Introduction OF the postal savings
system. as he said the money deposited
with the government probably would not
have gone into savings banks.
This sectional meeting was one OF four
meetings which occupied delegates to-day
prior TO the formal opening Of the con-
vention proper tomorrow morning. More
than four thousand delegates and guests
were in the city tonight. and every train
brought additions TO the number.
This is the most important convention
OF the American Bankers Association
since the question OF currency standard
was at issue many years ago" said A.
Barton Hepburn. chairman OF the cur
rency commission Of tho association, to-
day. Mr.. Hepburn was speaking at a
meeting of the currency commission, at
which final consideration was had OF the
report which that body will make 10 the
convention tomorrow on the proposed
federal reserve act, known as the Glass
Owen bill.
Country Banker, Count"
Discussing the action taken by the
country bankers yesterday, when they
registered opposition TO important feat
ures Of the proposed legislation, Chairman
Hepburn said:
IT take II We have heard the last from
Congress of the talk TO the effect that
the country bankers only imagined they
were opposed 10 the Glass bill. The
country bankers are the only ones who
really count. We city bankers are re-
garded as Just an enlightened type OF
common crook. YOU know. \ sensible
man couldn't expect Congress 10 listen
TO US"
The election Of officers OF the associa-
ton on Thursday afternoon is expected TO
develop some lively contests. Arthur
Reynolds. OF Des Moines. Iowa, will be
promoted from first vice-president 70
president without opposition. but a close
rivalry for the place made vacant by
Mr. Reynolds has developed.
James i. Lynch. OF San Francisco. a
member OF the executive council. has been
regarded as likely 10 receive the sanction
OF the nominating committee To the sur
prise Of some members OF that committee,
friends Of William Law OF Philadelphia,
announced that they had already secured
pledges of enough delegates TO elect Mr..
Law to the vice-presidency.
There has been no opposition shown 10
the election OF Fred ". Hopes OF Gal
weston. as treasurer, and Fred Il. Farms
worth, OF New York, will be continued as
general secretary.
Sections Elect Officers.
The state secretaries section chose W.
J. Henry. Of New York, as president to-
day. In his inaugural address Mr.. Henry
said that he hoped to make the section A
real power for the support or opposition
Of bills pending in Congress concerning
banking or currency regulation. Other
officers chosen by the secretaries were
w. ". Bowman. Of Kansas. first vice
president. and p. ". Hall. OF Iowa, secre-
tary-treasurer.
The savings bank section eocted as its
new president ]. r. sartor. OF Los An
geles. William r. Knox. OF New York,
was the choice for vice president.
New officers OF the Gearing house sec
ton arc: President, J. X. Ottley. Atlanta,
and vice-president. \. o. Wilson, ST.
Louis
In the trust company section r. II.
Golf, OF Cleveland. was chosen president.
Other officers elected were: Nice-presi-
dent, Ralph W. Cutler. OF Hartford, and
secretary. p. S. Babcock. New York.
1.-THE record OF trust company achieve
| nent in the United States has never been
more strongly in evidence than during the
| last year" William G. Poillon, OF New
York reported 10 the trust company
section. Without question the trust com
| panies to-day hold q more permanent
place than ever before in public confidence
and esteem" he added.
Numerous Speakers Heard.
Before the various sections to-day ad-
dresses were delivered by ex-Representa'
tive Samuel w. Mccall, of Massachusetts
Robert Walker, of New York; Edmund
I d. Fisher, Deputy Controller OF the City
Of New York Carter 3. Keene, director OF
the postal savings system OF the United
States; Carl Meyer, Of Chicago; Raymond
/ y. Cox, assistant cashier OF the Fourth
! National Bank OF New York; Andrew
| Smith, secretary OF the Indiana Bankers
Association, and George n. Richards. sec
rotary of the Minnesota Bankers Asso
| citation.
McLane Tilton. jr. of Pell City. Ala.
G. w. Rogers, OF Little Rock. and w. b
Harrison, OF Enid. okla. were appointed
a committee TO present to Congress th'
resolution adopted at the county bankers
conference opposing the currency bill.
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