Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1914-02-14
0TTUMWAMlN At
HEAD Of BANKERS
BEN p. BROWN ELECTED CHAIR.
MAN OF GROUP TEN OF
THE |. 3. A.
MANY RESOLUTIONS
Federal Reserve Law Commended and
Chicago Favored-Furrow and
Epperson Receive
Endorsement.
MANY RESOLUTIONS

| Ben p Brown of the Ottumwa Saw
! ings bank was elected chairman OF
! Group Ten. Iowa Bankers association
| Thurcdav in the annual meeting of the
group held in Oskaloosa. Resolutions
, commencing the federal reserve law
favoring Chicago as the location of the
federal reserve bank for Iowa bankers,
endorsing edwin H. Furrow of Cedar
Rapids, FOR treasurer of the I. B. A.,
aud instlucting the members of Group
! Ten to support his candidacy at the
state convention, and endorsing Frank
Epperson as member of the eXecu-
tive council of the American Bankers
association in 1915. were adopted.
Ottumwans who attended the meet
ing are enthusiastic in their praise of
the excellent treatment accorded them
at the hands Of the Oskaloosans whom
they say cannot be eXcelled as enter
tanners The local bank representa-
tives upon their return had only one
complaint to make and that was the
return trip. They state that about
two and half hours were required to
make the journey between Oskaloosa
and Ottumwa, a distance of twenty
eight miles. The engine failed to
steam and stops were made enrOute
home to develop enough energy in the
locomotive to bring the train in. The
Ottumwans arrived here at 49, 40 near
ly three hours over due.
The New Officers.
The new officers elected were:
Ben P. Brown, chairman. Ottumwa.
Chas. S. Howard, secretary, Oska-
loosa.
Executive committee-Ben P. Brown
for Wapello county, Ottumwa; Chas. $.
Howard for Mahaska county, Oska-
loosa: W. B. Caldwell for Davis coun-
ty. Drakasville: George A. Singley for
Appanoose Mouiton: J. r. Mackey for
Keokuk county. Sigourney; R. l..
Schlotter for Van Buren, county, Sell
ma.
The following resolutions were
adopted:
Commend New Law.
Recognizing that the new federal
reserve law is a long step in the right
direction towards supplying the coun-
try with an elastic currency, and that
it is the patriotic duty of bankers to
cooperate with the federal government
TO make the new law success:
Resolved: That Group 10 OF Iowa
Bankers association hereby heartily
endorses the new law. and realizing
the advantage to all the communities
Of cur state, to have their banks con-
nected with the reserve association, we
hereby petition the auditor of state and
the attorney general to take as broad
view as possible Of our present state
laws, and to allow our state and saw
ings banks to become members of the
federal reserve system without waiting
for the legislature to amend our bank
ing law. SO that the banks of Iowa will
be in as good position to do business
as the banks of Illinois and Missouri.
Resolver further, that Group 10 here
by requests the Iowa Bankers associa-
ton to have bill prepared for sub
mission to the next general assembly.
providing that state and savings banks |
who are members of the federal re-
serve association shall be subject to
the same reserve requirements as Is
provided in the federal law.
Favor Chicago Bank.
Resolved by Group 10 Iowa Bankers
association in convention assembled
at Oskaloosa that it is deemed to the
best interests of the financial and com
mercal development of Iowa that the
entire state be aligned with the federal
reserve bank to be located in Chicago
thus carrying out the provisions Of the
act which provides that districts shall
be apportioned with due regard to the
convenience and customary course of
business and be it farther
Resolved; That copy hereof be for ,
Warded to the reserve bank Organiza- |
ton committee at washington, D. c.
Instruct for Furrow.
Resolved that Group 10 |. B. A. that
we hereby heartily endorse Edwin H.
Furrow of Cedar Rapids for treasurer
of Iowa Bankers association and here !
by instruct members Of this group in |
attendance at the state convention at
Clinton in June to support his candi-
dacy.
Endorse Epperson.
Resolved by Group 1914. B. A. that !
we endorse and recommend Frank Ep-
person as a member of the executive
council of the American bankers assoc
iaton in 1915.
The following Ottumwans were in |
attendance: |
B. P. Brown, Carl Rauscher. c. L. |
McMinn, Will Miller, Hugh Fagin, r. ).
w funk, Fred Dimmitt J. Goudy, Jake ;
Gene Abegg. S. L. Vest. P. G. |
AckIey, T. X. Harlan, Max Won Schrad
er and C. d. Evans.