The Anderson intelligencer. [volume] (Anderson, S.C.) 1914-1917, 1914-10-16
BANKS
MAY ENTER
WILL CONFER WITH FED
ERAL RESERVE =.
BOARD
OFFICERS ELECTED
Trust Companies, Savings Banks
and Clearing Houses Have
Representation.

Richmond. Va, Oct. 13.-SnYings
banks and trust companies represent
ed In the American Bankers 'Associa-
tion specifically outlined their attf-
tude toward their entry into the na.
tion's new currency system today
when they recommended that tho gem
eral convention appoi'.t O committee
to confer with the Federal Reserve
Board over changes In the law that
would make membership moro attract
I've. Several speakers at the Joint
meeting of the two sections urged thnt
state banks be permitted to enter the
new system and continue their busi-
ness along the lines 1t now is conduct
ed. Others contend that regulations
OF the reserve board should permit ex-
am1nations by officials Of regional
banks who understood local, condi-
tiOns. It also was assorted that unless
there were changes In the law State
banks entering the system might face
a conflict between State and federal
examiners.
The appointment OF a committee to
confer with the Federal Reserve Board
was proposed by Sol Wexler, of New
Orleans. Immediately It was adopted
by the Joint mcetinT, and tonight the
savings banks section committee was
named for submission to the general
convention, which Will ssee.se On
plan. fitfs ~ sa'. e. @
Several Of the speakers rho con-. N
tended that changes In the Iay. would
bc necessary agreed, howe. er. that
their participation would be desirable
10 bring about unified currency sys-
tenn. b. q 3lssS y VS. Z L s,,.
The trust company section which
approved the Wexler plan In the Joint.
| session referred IL to the executive,
committee to name q. sub-commission
| which, It was said, would act in Coop
GRAFTON with any committee the ganer-
al convention might name or take up
the proposed changes independently
Members of the savings bank section
to be recommended for appointment
On the committee are. w. q. nox, OF
New York, new president OF the sec-
tion; Il. @. Stevens, South Bend, and b.
f. Saul, OF Washington. s s;. y 3 !.
Bankers OF several cities sspt let
ters to the meeting OF the two SeCtiOns
outlining their attitude toward the
fnew system. = II & s;;s
The association's sections PRACTICAL
ly completed their work. tonight for
the beginning OF the general c6nven-
ton tc.nc.-c=. Il ths 6. ssafs ring luz s Sfhtu1o u1o
section exercise OF the clearing ;func-;
ton by reserve banks and the clearing
OF exchange items among. those insti-
tutions was discussed. I. Secretary
Wolfe, OF the section, re,ld from ten-
tative rules Of the rcseS35 board, the
plan under consideration To- effect the
clearing items among The regional
| banks. That proposes tfat the clear
Ing be done In Washington s byFthe
board and that each reserva bank car;
ry there gold to cove,5 balances. Az.
other plan suggested was that one, of
the banks Chicago or st. Louis do
the clearing. No conclusion had been
reached by the board, It was said.
Officers elected by the various; Sec
tions were: 81 s.. ,gss;;als., ~ e; Il.
/ Trust company -RaIph ~. CWsler,
Hartford, Conn.,. president; John H.
Mason, Philadelphia, vice president.
Savings banks-W. e. Knox. : New
York, president; N, +. aawsey, Mtnne-
apolis, vice president. N! g.
i Clearing house--A Orytlle Wilson.
St Louie. president; J.. D. Ayers, Pitts
burgh, vice, president. sSS K
State iSecretaries--W.sss,NV ". wv NV 4 RGwmap.
Topeka, president, Haynes Me- add dan.
Atlanta, first vice president; G8OfEe
D. Bartwell, Milwaukee, second lVice'
president; George Fl, Richards Mime
arolis. secretary-treasurer. !. ssa ses.w IN ], 81 s.