New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-10-02
Elected Vice-President OF
Chamber Of Commerce
by Unanimous Vote.
ANNUAL BANQUET
TO BE ABANDONED
JollificatiOn Deemed Out OF
Place in View Of War
in Europe.

inc View York Chamber OF Com
mcrcc yesterday elected Jncob II. Schlh
10 fill the Office Of vice president, lctt
vacant by the resignation OF Paul NJ
Warburc. The vote for Mr.. Schif was
unanimous
Mr.. Warhurg explained IN his letter
Of resignation that his selection by
President Wilson as member OF the
Federal Reserve Board made IT necc5-
sarv for him to ever all political and
financial connections in order to rem
der impartial and efficient service IN
the nov capacity. ,.,..v
Although the election of Mr. Scmh
was tho most important piece o. "orN
ON the programme for The Oclootl
meeting. the action Of the Chamber o.
Commerce in cancclling its plans Tor
the annual banquet was deeply signIii-
,art. as u revealed the attitude OF Ne"
York business men toward inc huro-
pcan war. p
The resolution offered by A. Barton
Hepburn. former president OF the
chamber, and heartily applsuded ana
adopted by the meeting, read; =
That, to impress upon the people OF
this country the serious nature OF COZ
ditions abroad and the necessity TOT
the greategt economy throughout inc
world. il is wise OF the New iotN
Chamber OF Commerce to sacrihce us
usual banquet and to wlthdrh% ~
nIsns for iollifcation by play OF wit
and other means, and TO contribute
what il might have spent IN TINS man
~. 81
there are many who are IN dlflcult
circumstances on account OF this I'M
foreseeu and unbelievable war, the
president and chairman Of the eNecu-
tive committee be authorized % pre-
marc an announcement of the proprI~
CIV Of foregoing the banquet and an
exclamation which ehall nc sent broad
cast 10 inspire fitting concern III inc
matter Of financial conditions
Before the adoption Of this resolu-
ton by the meeting President oeth
Low gave warning that while such &C
ton had been almost automatic IN the
case Of St. Andrews. st. George ana
St. David's societies by reason OF their
foreign fliliations, il was matter oil
greater significance in the case OF an
impartial financial organization.
The Washington representative o.
the Chamber OF Commerce sent inns
communication to the meeting:
"Thc War Risk Bureau OF the Treas
urv Department has issued insurance
amounting to between $7,OOO.OOO and
SS.OO0,000
'The total number OF ships admitted
to American reg stry TO date IS 10, with
a total tonnage Of 172.808 gross tons.
The success OF the gold fund Is as
sured. and sections Of the country
other than New York are arranging to
take their share"
President Low closed the meeting
with remarks on the recent New York
CITY loan. 70 the effect that Il would
nave oeen much easier to contribute +
;hc loan in the spring, ard that the re-
Spouse 10 he appeal, since it was twice
a. generous as in any previous m
stance Of the sort, was high compli-
ment to the city's credit. He said
that The city's financial situation WAS
unfortunate. since it had 20 meet its
obligations in January, while it, taxes
we're not payable until the following
Nav and November.
1T Is dclinhtful 20 see he cor
c'udcd. that the stand Of the banking
communities is that the credit OF New
York City must be maintained at all
costs"