The Anderson intelligencer. [volume] (Anderson, S.C.) 1914-1917, 1914-05-08


the value Of the cotton at q low rate
OF interest, some times as low as two
and three-fourths per cent This is
upon the basis of strong credit as
stating weak credit.
The speaker said that he conSid-
cred the. scheme TO be gerat one and
that its originator, ]. b. DuEe, was
a great man for having thought or
the happy idea and bringing IL to this
country. He said that Mr.. DitkeTfs the
greatest meFehsiat that America has
produced In "a genefhfiop. y.
~ Mr.. Parker Baid that he believed
the Duke plan would prove TO be q
magnificent relief TO The industrIaI
houses of the South and pointed out
that when the new ,n,ar5 went into
execution the manufacturing plants OF
the South would be abletto. keep their
money In their own local banks. :,
ALmember OF visiting bankers were
invited to address the meeting, among
these being ID. AL Augustine; OF ;Richr
mond; A. *, Parker OF Richmond; Mfi
Terrell OF Richmond and Thomas Hit
of BALTIMORE. Each of these gentle
% ia made. comments on the growth OF
ti.is Piedmont section OF South Caro-
lima and Mr. Hit made number of
complimentary references TO Anderj
sens CROWN since ais last visit, >,
"a H.. Wstgins urged the bankers
10. all give close study to the new NE
gotiahts Instruments Law" now in ef5
feet IN this State, and told his hear
ers that. this lasF7wass Of great import
ance. l,{ Il, ~;
Ivy Manldin, State Bank Examiner,
assured the group that he was happy
over being present and said that no set
or bankers in the State could saFpass
those OF group for real ability and
ehicienSy. 81
Thomas Davis OF the Peoples Bank
OF GFeenYiile presented q petition urg-
Ing that ]. w; Norwood, president of
the NORWOOD NatIonaf Bank OF Green
Vile he. appointed as "a director In the
Class A. Federal Reserve Bank OF
Richmond and TIE :ecsoIutIon aa fol-
lowed was unanimously adopteds rs.
THE Federal Reserve Bank 81 Rfchg
Ihond VIII serys the States 0f North
and South Carolina, ana Saiil be calf
ed on from time to time to discount
paper originating in these two Statesl
Manifestly' It would be to thesadvan-
tage Of the district for. the Reserve
Bank when in: the market for c0mmer-
cinl paper ito give preference to such
paper originating In its .owa district.
We therefore believe that one S,f tine
directors sIected to serve should be
familiar with conditions and credits In
the lower section OF the district. rs
Considering his many fine iqualI-
ties asa man, his clear judgment and
large experience in business and n
IA
this meeting that no man Is more ably
fitted to serve az director In Glass
"A of the sFedefals s reserve Bank Of
SRichmotd than Mr.. j : w: Norwood,
President or the Norwood National
Bank Greenvilia, S. c. :, There Is prob
ably no banker in North or South
Carolina whose iinowled OF business
coalitions, Judgment as to, the yai,;s
OF every TYNE of as aid WiSie
business acauafftafite, better; dts aiiirl
fiie int ssSf ETnlssgis
ber Baiihs. - ~ III z -
BelieRihg that Aff or,sgood is SveiI
qualified TO serve as q tiiraefnl.. ia tt.ie
RagIoaaI aBniS, we. f,ie members s13Y
eGFoli NoiA A urf "a ifrriotissy eiIdorse
him as asfnember IN tCiass Al f50f ma
Board Of Directors OF the Federal RE-
serve Banls'nf Richmond; and. We ,ireeei
all member banks to instruct their el-
ectors to vote for him in this ,cennee4
itton. -. .s3' :!
in addition to this, on motion OF Coll
Watkins, a committee ! Consisting OF
Chairman Mills, b. yEy Gossett and II
E. Wakefield was appointed TO use
personal efforts in having Mr. Nor.I
wood app ofnted 10 tl1is tes sttsop., /.
"a nu1nber OF ana6unce ements were
lnhde by Mayor Holienian q following
which an aijoufnndent took place at
$3.50 o'clock. Numerous automobiles
mad beeh furnished by the people or
Anderson hnfi the visitors were car
iried ons d tour or the city. All the
points OF interested ii, ana around An {
iict9rson were pointed, out and for an