The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-05-18
FIFTH DISTRICT
BANKERS TOMEET
Will Devise Plan of Choosing
Directors for Regional Re-
serve Bank.
CARTER GLASS TO SPEAK
Secretary Elliott, of Federal Re-
serve Organization Commit
tee, to Make Address.
CARTER GLASS TO SPEAK

oei'c biatFict, on nIe with The local
entertainment committee last niFht
gave Indication that a majority OF the
ATS banks In the Richmond district will
bo represented at the convention which
Will meet At Il o'clock thi. morning In
tho Jefferson Hotel 10 devise a plan for
the selection of tho ST., directors 10 bc
cho.en by the member banks.
Vice-Preaident John NJ. Miller u.
or the First National Bank chairman
Of tho convention committee. said last
night that he expected an attendance OF
at least $50 delcgntcB. exclusive of the
representation frorn this city. ar
ransement. have been made to talk.
caro- OF $50 at tho dinner which the
, local bankers will give Tonight In
honor OF the visitors. Invitations haze
been Issued 10 number Of prominent
citizens not allied with Tho banking
business.
MILTON c. ELLIOTT WILL HE
PRINCIPAL SPEAKER TODAY
Tho principal speaker II tho openiuf,
session to-day VIII be Milton .. Elliott
oecretary TO the Federal Reserve i3hnk
Organization Committee. The subject
OF his address il:., not been announced
but he Is expected TO speak In general
tcrmB on reserve bank functions and
tho eervice expected of the new inst
tutions. Air. Elliott sat with the or
RaniZation committee ~ mos, OF tho
public hearings on the location or tho
Federal reserve hunks and VIII bring
20 tho convention an iutoresting nd~
dress
The speaking program for to-day
was last night incomplete. While the
address OF Mr. Elliott IS tho only Get
speech. thorc will be eev.ral others
which VIII deal more particularly with
the problem to which tho convention
will address itself-thc formulation %
m equita BILE plan FOR tho selection OF
n n al ~
age the affairs OF tho Richmond bank.
In order 70 economize time & buffet
luncheon VIII be scrvcd "a tho convcu-
ton hall At 1880 o'clock this afternoon.
The sessions will continue uuhrokcu
through the day. 1t is though, prob
able that the delegates from the soy
trnl states viii hold separate state
meetings during the afternoon. and
special committee room. have been re
served for this purpose
CoNGHI:SsNAN GLASS
SPEAKS iT BANQUET
Tho management and Organization OF
tho Richmond bank will hc the gen
eral topic for discussion At the dinner
which viii bo served a. 8 O'Clock to-
night in the hotel auditorium. Gov
crnor Stuart and Mayor Aiuslie Win
mako welcoming speeches. and Con-
gresham Carter Glass Will make an
address on the Importance and rcsDon-
sibility OF selecting an able directorate
AS one OF the trainers OF tine Federal
reserve act end its champion i'm the
lower house or Congress, the presence
OF Mr. Glass tonight is regarded as
particularly fortunate
Talks VIII be made tonight also
by william Ingle. vice president OF
tho Merchants Mechanics National
bank. baltimore. and George W
White. president OF the National Met.
Iopoiitan Bank, Washington Con
sressmnn Andrew Jackson Montague
who had accepted an Invitation to
speah mt to-night's dinner viii be
prevented from attending by official
business IN Wa shinyton.
The convention will continue through
tomorrow Plana for to-rlorrow's
proceedings were incomplete last
night II is probable that the second
reeston Will be held ut 10 o'clock In
the morning. and will continue, with
tho same arrangement for lunch az
VIII obtain to-day. until adjournment
some time in tho afternoon. Tho CON
vention will be opened this morning
by Chairman John NJ. Miller. of the
local convention committee. He will
preside until the body elects perma-
nent officers
DELEGATES DISCUSS
POSSIBLE CANDIDATES.
Between forty and nifty delegates
registered at the Jefferson last night.
spent much of their time discussing
possible candidacies for the board of
directors of the Richmond reserve
hank. Under the provisions Of the
Federal reserve act, the member banks
VIII choose six directors-thrce from
the banking profession and three from
the field OF commerce and industry
not connected with the banking busi-
hess. The two classes OF directors arc
designated by the act. respectively. rs
directors Glass a and directors Class l..
\ delegation of eighteen from tho
national banks of Baltimore. II Is
stated will support, az d, Class 4 di-
rector Waldo Newcomer. president OF
the National Exchange Bank, of that
city The Washington delegation, ac-
cording to adv!ces from the national
capital, Will come to Richmond divid-
ed one faction supporting Cuno r.
Rudolph. president of tho SecoI.d Ma
tional Bank. and another faction
Tucker K. Sands. cashier OF the Com
mcrcial National Bank.
Mr. Sands gained his banking expe-
rienco in Richmond as cashier OF the
old National Bank of Virginia. He
has Il wide acquaintance among Vir-
ginia bankers, and possesses an inti-
mate knowledge OF bank and COM
morciaI credits in the territory that
constitutes the Fifth Reserve District
SUGGESTIONS As TO CANDIDATES
FROM OTHER STATES IN DISTRICT
The advance guard registered last
night was slow to make guesscs at the
probable nominees from the other
States OF the Fifth District. An in
complete table of the various other
bankers mentioned prominently for
positions on the directorate of tho
Richmond bank. compiled from the
gossip OF tho hotel lobby, reads:
Observation-Disclosures Beaman, presI-
dent National Bank OF Commerce, Nor
folk; Caldwell Hardy. president Nor
folk National Bank; David w. Flickwir
vice president First National Bank
| Roanolse, and w. Il. Carson. Riverton
for director In Glass j.
West Virginia-Edward Mann. pres
ident First National Bank, Blucfield
North Carolina-Colonel John T.
Eruton. president First National Bank.
Wilson, and r. NJ Miller, Jr., president
Continued on Second Pago.)