The Richmond Virginian. (Richmond, Va.) 1910-1920, 1914-10-16

i1~t0 PfGu6Ea ttith SuPppiNo ~ Stf0fNc
to secure such legislation.
The report OF the committee on
federal legislation. covering all mat
ter of legislation affecting the bank
| ing business that has been before
| congress during the year was not
| read, being ordered filed and pub
iished In the Official proceedings.
The association was authorized by
the convention to continue for an
ether year the agricultural comnlis-
sion. The currency commission also
was continued for year,
Oliver J. Sands, of Richmond.
chairman OF the insurance commit
tee, read that committees report,
showing what work has been done
during the year and indicating there
has been change in the attitude
OF Insurance companies that will prove
beneficial to ell banking institutions.
and especially to those in the small
towns. The report was approved
and the committee continued for an
other year.
Hon. James N. Beck Speaks.
Hon James NJ. Beck. of New York.
former attorney-general of the
United States. was next presented by
President Reynolds as the speaker OF
bearing the fanciful title, The Case
of the Lost Million related to the
early history of modern finance. proved
that the dollar has it's romance and
showed the need in the banking world
of man to record It's history aud
romance. The address dealt with the
struggle OF the American revolution
lists and gave the details of a little
known intrigue, the result of which
was the financing by France OF the
American colonists in their war for
ty.1 No n HH 10 f.I
for nearly two hours, and every word
of II was as interesting as the most
gripping of modern fiction. Yet be-
hind II all was historical fact
Committee to See Reserve Board.
From the Joint session of the trust
company section and the savings
bank section, held Tuesday. there
came into the convention resolutions
calling for the appointment of a com
mittee of twelve TO go to Washing
ton to confer with the treasury Off
cials and the federal reserve board
in an effort to secure amendments
! to the rules and regulations of the
board covering terms on which State
and savt0gs and trust company banks
NAV re adj .litted to membership In the
federal reserve system. rhe resolu-
ton was adopted and President Law
was authorized to name committee
Z consisting or three trust EolUJAny,
three savings bank and three national
bank representatives.
On receipt of a telegram from the
National Merchant Marine league, at
Boston, calling attention to the need
for an adequate merchant marine, The
association adopted resolutions reaf-
firming the position taken at last
years meeting in endorsing the move
ment for the establishment of a mer-
chant marine. and pledging It's sup
port.
Resolutions. thanking bankers. peo-
pie, press, speakers, business and trade
organizations and clubs and the ladies
OF Richmond. among others who have
contributed toward making the con-
vention a most successful and enjoy
able one, were adopted
Secretary Farnsworth read N
memoriam resolutions. During the
year there have occurred the deaths
Of Colonel Robert f. James, member
of the executive council, who had
done much work in the drafting OF
the present constitution, and of 7. =.
Kaufman, member of the executive
committee OF the trust company soc
Ition.
George w Rogers. cashier of the
Bank OF Commerce, Little Rock, ArE.,
chairman of the nominating com
mittee, reported that at session at
which thirty-six members OF the COW
mittee were present William A. Law
was the choice for president and
James X. Lynch for vice president,
The report was unanimously adopted
and the election Of the officers de-
clared.
The new officers were immedia tely
Installed, the retiring president. Mr..
Reynolds, presenting Mr.. Law. and
Mr. Law presenting Vice-President
/ Lynch. Both the retiring president
and the new officers spoke briefly, tho
former thanking the association for
its cooperation and declaring his ie-
termination to continue interest in
the success of the organization. and
the new officers expressing apprecia-
ton of the honor conferred upon them
and asking a continuance of the CO.
operative spirit
william Livingstone president II
the Dime Savings Bank of Detroit. a
former president of the American
Bankers association. spoke briefly
and in manner very commendatory
of the work of the retiring president
and the results that have been
achieved. Former President Living
stone, on behalf of the members ~
the members of the association pre-
scented to MIR. Reynolds handsome
silver service and as he concluded his
remarks, stated that according to
well defined rumor Mr.. Reynolds Is
to be governor Of the regional re-
serve bank at Chicago He expressed
the hope that this is true and declared
the undivided support OF Michigan
bankers In the district will be given
him.
Mr.. Reynolds, accepting the sift.
spoke his appreciation OF honors that
have been conferred upon him, and
referring to the rumor, stated he has
no knowledge of what the future has
for him. Before adjournment WAS
taken President Law was again heard
and Detective William J. Burns was
called upon for a speech. He spoke
briefly, expressing appreciation of
service on the part OF members In
cooperating with his agency in the
work 1t Is doing for the association.
Mr.. Law expressed the belief that
! the bank credit men. which has been
doing splendid work. will be recog-
nized as section, at the next conven-
! ton.
60
| {