The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1913-08-13
they ADOPT Plan
PROPOSED RY The SECRETARY
TO MOVE CROPS
BANKERS Are PLEASED
Southern Bank Men Pass Resolutions
Expressing Their Appreciation of
the Governments Efforts to Coop
crate With the Great Agricultural
Sections Of the Country.

StCI1OHS Oi Tue SOuuIry.
Tentative plans for the distribu-
tion of the South's share OF the $780,
100000 of Government deposits to
be placed with the banks in the agri-
cultural States to assist in the fall
movement of the crops were agreed
upon at conferences in Washington
Thursday between officials OF the
treasury department and about one
hundred bankers representing thirty
six Southern cities. Final plans, in
cluding the allotment of the South
ern banks share will not be announc-
ed until after the conferences with
Western bankers and with those
from the Pacific coast. The South
erners asked that they be given at
least half OF the total to be depos-
tied.
At the conclusion Of the confer
ence resolutions were adopted ex-
pressing appreciation Of the Admin
istration's proposed relief and agree
ing to the terms and conditions im-
posed. The bankers also, by resolu-
ton, expressed confidence in the Ad-
ministration and the belief that its
cooperation in assisting in the move
ment of the crop was an indication OF
it's desire to faithfully serve the needs
of tho .rho1o rorntrv
Later the bankers called at the
White House, where they were re-
ceived and addressed by President
Wilson. The President told the del
egation that the banks Of the coun-
try would be treated on an equality.
While the presidents remarks were
of a confidential character and the
bankers were loath to discuss them,
it became known that the President
made it plain that the purpose Of his
Administration would not be to per-
NIT alliances between banks in any
section OF the country and the Gov
ernment.
The conference was opened by an
address by Secretary McAdoo, In
which he explained the purpose OF
the treasury department in making
the additional deposits; the general
character of the security which he
will require; the time proposed for
making the deposits with the banks,
and the time suggested for their with
drawal. He then invited the bankers
to make comments and recommended
tions regarding details for carrying
out the plan. Each delegation was
called upon and explained conditions
in their respective sections, indicated
the amount of money which they
would like to have deposited in each
city represented and discussed other
retails Of the arrangement.
4 second conference was held in
the afternoon and Thursday night at
the Pan-Amercian Union building.
Before it's close Secretary McAdoo
made an adress in which ehempha-
sized the determination Of the Gov
ernment to protect and maintain its
credit, and declared that all Of its OBJ
legations, direct and implied, would
be fully and faithfully carried out.
Just before adjournment the fol-
lowing resolution offered by Presi-
dent Walker Hill, manager Ct the st.
Louis clearing house association, and
seconded by Robert F. Maddox, OF
the Atlanta Clearing House Associa-
ton was unanimously adopted:
"Resolved. That the Southern
bankers, today assembled, do express
to the President and the treasury de-
partment our sincere appreciation OF
the relief proposed and that we agree
to the terms and conditions outlined.
Resolved, further, That we here
by express our sincere confidence IN
the present administration and be-
lieve that such interest and co-opera-
ton as proposed with the great ag-
ricultural sections Of the country Is
but an indication Of its desire to
faithfully serve the needs Of the
whole Republic"