The Birmingham age-herald., 1914-08-04
|BANKERSOF STATE ARE NOT UNEASY | OVER SITUATION | Alabama Branch of National Currency Association
 Meets Here AMOUNT NEEDED
 TO MOVE CROPS Need Most in South Alabama-This Is Principal Matter Under Discus
 sion-Barr Elected President l to Succeed Harding

Optimistic, calm and unafraid the mem bers of the Alabama branch of the Ma tional Currency association met in Bir- national bankers from every city of i'm portance in Alabama. They met here to discuss the Aldrich-vreeland bill ap- proved in 1908 which gives the bankers of the states opportunities to secure from the government of the United States fi- nances with which to move the crops in the event of unfavorable developments to the normal money market.
 Not one man of the number here was pessimistic. They were all sanguine and were not at all disturbed about the fi- nancial situation. They decided to ap- ply to the government for money to move the crops and J. Kirk Jackson, secre- tary, Is expected to send out applica- ton blanks tomorrow for the members which when filled out will be forwarded to the federal reserve banks and the money advanced Naturally securities will be hypothecated with the govern ment for the return of the advances.
 By far the greatest feature of ths
 meeting here yesterday was the uttei absence of any feeling of pessimism. The bankers were interested only in a pass. ing way in war news and honestly pre- ferred to talk about the great crops oi this state and this section rather than what was being done on the Danube ol the Rhine.
 They returned home yesterday after having elected J. II. Barr president oi the association to succeed w. P. G. Hard ing, now a member of the federal reserve
 board The reelection of J. Kirk Jack son was a foregone conclusion and was handled as a routine matter.
 The bankers yesterday were unwilling to estimate for newspaper men tn, amount of money needed to move tn, crop in this state
 It appeared from what could be gath cred that the greatest amount of none, Is needed in South Alab bama
 We are not afraid said MT We'll born, prominent Anniston banker "Thi meeting would have been held war or n, war It was scheduled and we are al in good condition"
 Lieut.. Gov. T. r. kilby also / l banker of Anniston was more deepl, interested in consulting his architect thai
 talking of the alleged scare. as the lieu 1 terant goyernor-elect is building hom 1 In Anniston.
 l "We are all right said Lieutenan | Governor Kilby. There is no need t
 worry. What we must consider Is loca
 problems of an internal nature alone l The stability of our situation is unuues
 toned"
 | The meeting yesterday was attended b, | the following members: J. H. Barr of thi | city president; J. Kirk Jackson, secre l tary; ]. J. McDermott of Mobile, vic president: Frank S. Moody of Tuscaloosa
 Senator N. P. Renfro of Opeika; E. C
 Melvin of Selma, M Cody of Montgom
 cry A. M Baldwin of Montgomery G l H. Malone of Dothan, l.. NJ Ba shinski O Troy. R. E. Spraggins of Huntsville ] Lewis Farley of Montgomery, B. t Barnes of Eutaw. Lieut.. Gov. Thomas K
 kilby of Anniston, Max B. Wellborn O
 Anniston. T. R. Reynolds of Montgomery N. c. Eltin of Florenee, R. F. Smith O
 Bessemer and w. J. Hall of Greens i boro.
 Birmingham Bankers Optimistic The bankers of Birmingham and tn, | iaost substantial business men of thi,
 community are not the least appre. | hehsive regarding the European wal
 situation affecting local securities ol
 in the slightest degree embarra ssi n S
 the interchange of money This wa. | hiaue pldih yeSlefday al every bank.
 ing house in Birmingham where in
 quiries were directed. That sentimen
 vas also reflected by the Alabama
 members of the National Currency ex change. which met here yesterday pur susnt to a call issued late Sunday. Int
 members of the latter organization ar,
 among the most prominent bankers ir Alabama.
 The announcement by private wire, yesterday morning that the New Yorl bankers had gone onto scrip or cer. tiflcate basis was for a moment mis understood except by experienced finan cial men. Some believed the announce | rnent meant the basis upon which Bir lmingham and other cities were placed
 during the latter part of 1907 How
 ever, inquiries brought the information from local bankers that such was no the case. It wes announced that onl, the banks were using the certificates This meant that at clearing hous, meetings in New York instead of de I rranding actual cash for the clearing, each bank would accept certificate, from the clearing house manager fo
 whatever clearings that particular banl
 was entitled to-
 J. H. Barr, president of the First Ma
 tional. declared in the presence of Mai E. M. Tutwiler. chairman of the Firs
 Nstional board; Erskine Ramsay an, others: There is no cause for the be lief that Birmingham Is embarrassed or the contrary, I declare that ther IS plenty of money available for al Legitimate business purnoses have n.