The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-06-19

annual convention. We were accused
Of voting for the bill and Of rcpudiat
Ing such action later on. This had
only a shadow OF fact in II, for the
reason that we could not have voted
for a bill that had not been completed
in either house of Congress. had not
been made public. nor were the pro-
! visions known to us except in part.
our convention only voted its approval
of the efforts being made By the ad
minstration to reform and enact some
/ wise banking and currency legisa-
/ ton.
| when the full text of the bill be-
came public your executive committee
met at Richmond on September. 8. 1873
To discuss the bill. and i think very
wisely came to the conclusion that
many of its factors were very unwise,
and would prove TO be, II enacted. a
great hardship to the banks in your
! state.
! AT this meeting 1t was the unani-
nous opinion that this association
should be called In extra session and
put themselves on record as to what
Virginia wanted embodied in the pro-
posed law Accordingly, the meeting
OF the association was called and met
In Richmond. Va, on September q.
1913. and. after much debate and cx
change OF views. adopted Il set Of res
though wise and sane, and appointed
n committee of ten-two from each
group--as a committee on banking and
currency. and requested this committee
to visit Washington and lay the mat
ter before the proper authorities. This
was done, and we feel that your asso-
citation has been faithfully represent
ed and that you were put in the prop
err light before the lawmakins powers.
The convention was opened with
prayer by Rev William Z. Hill. OF the
West End Presbyterian Church. AT
lanta. President Hurt appointed a
committee on resolutions. consisting OF
John Il. Neil, Of Bcrryvillc; W. :. lrby
OF Kcnbridge: \. i. Hilton. of Trout
willie; George T. Warteld. of Alex
andiia: Il. l. Burke. OF Appomattox
and I. ~ Willett. OF Newport News.
There followed the annual address Of
the president and the reports OF the
standing committees and major officers.
Secretary Walker Scott, OF Farmvillc,
reported that the association has now
a total paidup mem bcrship of $50. OF
the thirty-eight Virginia banks that
are not members, he reported, several
are branches of or are affiliated with
member banks About twenty banks,
he said, that should be in. are still out.
side the fold.
WOULD URGE DEPOSITORs
TO REPORT TAXABLE FUNDS
Chairman o. j Sands. reporting for
the committee on TAXATION, advised the
banks TO urge their depositors to re-
port their taxable funds for assess
mcnt. He expressed the grave fear
that if the new bank deposit law is
found to be less of revenue producer
than the old, the next General Assem-
bly, might repeal the new law or radi-
cally change it, He urged the convcn-
ton to appoint Il representative COM
mittce to appear before the Tax Com
mission in Richmond next Saturday
morning, when that body will give the
banking interests an extended hearing.
Upon the motion OF Henry w. Jack
son. OF Richmond. the convention voted
thanks to the committee on taxation
for lis efficient work the past year in
connection with the Statewide cam
pa!gn for the reduction of the tax on
bank deposits. The convention adopt
cd by Il unanimous vote II recommends
ton from the executive council that
the salary Of the secretary OF tho as
ISOLATION be increased to 5000 year
The councils report was presented by
Chairman w. b. Vest, of Newport
News, who paid a high compliment t
the quality of the service given the
association by Walker Scott. the pres
ent secretary.
Reports were read also by Treasurer
, Julien II. Hill, of Richmond, and George
= Bryan, in the capacity of attorney fol
!, the association. and chairman Of it.
, committee on banking. Jurisprudence
, and information; c. T.. Tiffany, of War
: renton, chairman of the committee or
exchange and collection charges: G
X. Ratcliffe. OF Manassas. chairman o.
! the committee on Encouragement o.
dues. and w. b. Vest, chairman of tn,
committee on State bank Legislation.
The convention adopted unanimonsl,
the report of Mr.. Ratclffe's committee
I which provides for n new scale OF due:
, ranging In size from So to $50 Il year
graduated on the basis of aEgregat,
capital and surplus. a minority re-
port. recommending n schedule with
maximum Of SEQ year. was rejected.
Group reports were presented at the
morning session as follows: Group I.
by a. Woolford. of Suffolk Group II.
, by M. G. Field, of Orange: Group III.
by Westwood Hutchinson, OF Manassas
Group ~. by w. W. Waddell, of Char
lottesville. and Group ", by T. Il. King
OF Marion.
t NEWPORT NEWS MAN WILL.
l DE NEXT president
I Forecast made in the Hobbies of tn,
, hotel tonight predict the election O
w. B. West, cashier of tho Citizens
and Marine Bank of Newport News, I,
} head the Virginia Bankers Association
, the coming year. AS far as can b.
learned. be Is the only candidate. MI
t Vest was mentioned In connection witt