The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1916-05-26
LOWER INTEREST
ON STATE FUNDS
Is PROPOSED BY THE BANKERS IN
RESOLUTIONS ADOPTED
YESTERDAY
Present Rate II Three Per Cent Annum
ana Proposed Rate 10 only
Two Cents

The following resolutions. which are
SELF explanatory. were adopted ycster-
day afternoon by the West Virginia
X Association. after being read
20 the convention by W. wyus Beall. Of
Ncllsburg. chairman OF the committed.
BE 10 resolved by the members OF the
West virginia Bankers association. in
convention at Wheeling. that
We extend our thanks to Hon. Edward
y. Hurley. Hon. william 4. Nahum.
william L. kendrick and Hon. Caldwell
Hardy IN appreciation Of the most eN-
%cellcnt and able addresses delivered by
Thorn. assuring them that time will
prove that their words OF information
and advice Will be OF great value In the
shaL hereafter be worked out In the ad-
Nanccmcnt OF the Industrial and bank
INK activities OF our state. and
Resolved. that a. Is the sense OF this
Association that more ncouragemcn
and help upon the part OF the state and
the member OF this Association should
b. extended TO the advancement Of our
dkrlcultural resources. realizing that
through the hcttcrmcnt Of m CON
dltions and the possibilities OF thus
cheapcntng the cost OF living. our Indus
trial growth viii more easily move for
ward. and We, therefore. urge upon our
Legislature and Governor the necessity
OF h~tryafter SWING more liberal appro-
prltti"ns 20 the ~gricultur Depart
ments OF our Universities. and
resolved. that u Is a. truly essential
that the legislature and state officials
should romOte better and safer banking
conditions within our state. az IL is thar
che officers and directors OF each bang
lng institution should do so. and this
NNS'clAtlou therefore calls upon our
- gislature and state officials to rea-
NC the element OF bad banking i'm
l"sed unon as in the charging Of three
per cent interest per annum daily bal
lanccs Deposited by the state. counties
ana murictpaltieSI that such Inter.sf
rate should not exceed two per cent per
'unutn. and We respectfully urge UPON
our Governor and legislature the granr-
inE or this principle OF good and sound
banking. and reduce such rate to two
Per cent per aunum. and
Resolved. that 30 - the sense OF this
Association that the law requiring hanks
~ furnish bonds 10 secure the deposit
or pubhc money rs pcrniCious. unjust
and Is unfair 20 the general depositors
Iot the banks that the capital and sue
Plus and the known management OF
.'ch hauk is a sufficient guarantee Tor
the safety 81 such deposits. ana a..
therefore. respectfully urge thar fhe 1,v,
shall ~ $50 amcnded that the banks Of
thl~ stat" viii not be Imposed with the
burden OF additional expense in "a.
furnishing OF such bonds. Il is 4 WI
hnoNn rue OF law that public money
O. posted with a bank has "A priority -
SUI over the general dcpositOrs a. TO
inc assets or a bank and
ises"IN'd. that while tho member ~
TINS Association have been ds.uT, r-.,.
81 10y the spirit OF hosritgIi,. ~
us ar wheeling. % Is difficult L. .xnrcss
~ M'tIS the very deep appreciation "a.
49, '' IfN'fts FNUTFNHlN state 0fr
appreciation 90 the citizens of W.Sec1i,H
59' members or the Wheeling Clcar'n.
ily.Ne ASSOCIATION. and to the EILs,
Diun Tor the splendid feast and .nf,,-
tnin'nt accorded us. and 20 tho Wheel
llE country club. the Fort Henri rf,i,
sui the Mcclure Hotel COMPANY Tor he
th'u. and '''u ny
Resolved. that We express our hearty
a~.pI,clatlon and acknowIcd, ement 81
lthe manner IN which the =.
A-0pcidt"n have cared for our pt.r..-s
ulI.HF inc past year. and we b.rehy
,phllnue our pledge 90 rho oTf.or- -
ite ensuing year that each m,uh.- X.
N--'cl3il"n VIII put his shoulders
-'- Whe'ls ana make the coming go
N'ftit 'or tho ldvanc.ment v.
lnt'-h making IN carrying forv.r5 -.
work thar shall result In bette aennd
ler hankinE conditions vItbi, r.
state helleEInc The unifcT w"rt 30 U-r
r. can bring about the change
" Wyt.GE EEALL.
J.. kEENER
w. -. WILSON
1hAS. a.. HT-kEY.
Committee.