The Prescott daily news., 1914-08-19
BANKERS WILL MEET
 SEC. McADOO MONDAY
George W. Rogers Little Rock Heads Committee to Attend Conference. Sec. will Not Commit Him.
 self Until Monday.

Washington, D. C., Aug. 1S.-Secre tary McAdoo announced today that conference with Southern bank repre- sentatlves, cotton producers and manufacturers will be held here Mon day to discuss the question of pro- viding funds to save the October and November cotton crops.
 The Southern bankers conference today named George w. Rogers of Little Rock, H, S. Mobley of Prairie Grove Ark, and MT. Glassell of Shreveport, La., as subcommittee to attend Mondays conference. Mir. Rogers, MT. Mobley and other mem- bers of a committee named last Mon day again called on w. P. s. Harding of the Federal Reserve Board today to discuss the cotton situation.
 Later in the day the committee, with Congressman Goodwin of Arkansas. conferred with Secretary of the Trea- sury McAdoo. Mir. Rogers stated briefly the views of the committee and the urgency of needed relief to cotton producing states. He pointed out that members of the committee are practi- cally cotton men and merely are en- deavoring to work out practical proposition which would meet with the administration endorsement. "Without the endorsement of the Treasury department and administra- tion, we can do nothing" he said
 Secretary McAdoo refused to com init himself to any proposition until after Mondays conference. MT. Me Adoo was asked if the Treasury De- partment had considered extending re- lief of cotton growers through state as well as national banks. He replied that the question had been considered and that the Treasury Department had not been allowed to forget it for a minute.
 The Rogers committee late today adopted resolutions endorsing propos-
 
 land act to permit loans secured by cotton collateral to be considered as other than commercial paper, so that emergency currency to much larger amount might be issued thereon, and to permit state banks and trust com panies to join currency associations under the same act when they can le- gally do so, in order to avail them selves of proposed changes in the law.
 "We hope to work out such a plan at Mondays conference with Secre- tary McAdoo." said Mir. Rogers to- night. "As it will protect the price of our great staple and afford neces- sary and proper relief to all parties concerned.
 McAdOo Discusses Conference
 Cotton producers today told Secre- tary McAdoo they estimated that out of this years crop there would be B. 100000 bales sf cotton for which they now could see no market.
 "1 have called a conference" said Secretary McAdoo. "to consider the cotton situation, to which representa- tive men in the different sections of the country interested in production, financing and manufacturing of cotton will be invited.
 "The secretary of agriculture and the postmaster general will join the secretary of the treasury in the con ference The Federal Reserve Board will be invited to attend as a body. The purpose of the conference will be to consider the general problem, with view to securing the largest possible degree of co operation between the producers and the manufacturers of cotton and the banking interests of the country"