The Washington herald., 1913-08-19
LOCAL BANKERS
At CONFERENCE
Clearing House and Associa-
tion to Be Represented at
Currency Discussion.
OPPOSE POLITICAL RULE
Washington, Baltimore and Alexandria
Earnings-Wan Street Strong.
Local Securities.
OPPOSE POLITICAL RULE
Ry i. A. FLEMING.

Next Friday representatives of forty
seven State bankers associations and
1sl clearing house associations will meet
in Chicago in convention to discuss the
Glass-Owen currency measure.
They will not indorse it, but will point
out the defects in such a way that Con-
gress and the administration can hear, il
they have their ears in close proximity
TO the ground.
When the invitations 10 take part in
the conference were sent out no sugges-
ton of reply was Incorporated, and
yet scores Of acceptances have been an
nouEced, and II is expected that go
bankers will be on hand.
Bankers who were recently here in
conference with Secretary McAdoo will
represent the Western States, and 1t is
safe to promise that they will be in
hearty accord with the opposition.
Washington Represented.
At meeting of the officials and gov
ernors OF the District Bankers Asso-
citation yesterday afternoon, President
Saul, Of the Home Savings Bank. was
given authority TO appoint a delegate.
John Poole, secretary of the associ-
alton, and president of the Federal Bank,
will be in Chicago on business at that
time and he will be named as delegate.
Some Of the officials called attention
taken no stand on the matter: that il
had not discussed the GIass-Owens bill
as a body, and that their delegate could
but speak for himself.
Contention was made that the asso-
citation should meet oftener and that this
important topic should be made the sub
3ect of a discussion
Clearing House, Too.
Today the WASHINGTON Clearing House
Association will hold a meeting to take
action on the invitation 10 participate in
the Chicago convention.
This organization is fully authorized to
take action.
The two main points of discussion at
the convention, and upon which there is
the greatest adverse criticism by the
banking fraternity, are governmental
control and making the new currency a
government obligation.
There are other points that will be
brought up, the investment of 20 per cent
of capital in the regional bank with but
5 per cent returns, the government TAX
ing the profits, the difficulty in making
collections under the new regulations. &C. |
One point that will be freely discussed |
will be the probability OF national banks |
continuing in business with any show of |
success should the bill be enacted in its |
present form.
4. Barton Hepburn, formerly Comp |
troller of the Currency, and Joseph T. |
TaIbert of the National City, will go as |
members of the currency committee of
the American Bankers Association, while |
William Woodward will represent the !
Clearing House Association.
The bankers of the country will not be |
downed without protest.
W., b. & 4. Earnings.
Showing an increase in net income of |
81. 160.7l for the month of July over the |
same month last year, the comparative |
statement of the Washington. Baltimore |
and Annapolis Electric Railroad Com |
pany was given out Yesterday
The increase for the month is empha-
sized by the increase in net income for |
the seven months 10 July 81. in which |
period the advance in this item totals |
S2.36l5S. The gross income for July |
was $G6,9l2.o6. an increase OF s2.7ss.l5. and
the gross income for the seven months
also advanced, the figures being s2S3, %. 50,
an increase of $li.O52.54
The comparative statement in detail is
as follows: