Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-06-25
TROOPERS TELL O
OF FIGHT AT CARRIZAL,
One Packer and Fifteen Enlisted Men Picked Up by Lieu
tenant Myer Near Santa Marcia, Making Total Num-
Der of Those Who Have Returned Twenty-Seven.

adopt his system the sooner the who
banking world Will benefit"
Governor ~IIa,nlin WAS given a Halter
ing reception. Upon motion Of II. n.
Phillips. prcsidcn, of the Broadway Ma
ti"nal Bank of Richmond. the conven-
lion voted him a rising vote of thanks.
In his opening remarks, Governor
Hamiin paid a warm tribute to Con-
gresham Carter Glass. whom no called
a great leader of men. as well as a
great leader of banking and economic
thought" He paid n compliment to
Governor George i. Scay, Of tho Fed
eral Reserve sank of Richmond, and
to Caldwell Hardy. OF Norfolk. recently
appointed Federal reserve agent TO sue
coed William lnglc. OF Baltimore.
For Comptroller John SHELTON Will
liams Governor Hamlin had "a word OF
defense. Il have heard him criticized
from time to time on account of his
campaign aGainst 'usurious interest,""
he said. Gle does not deserve II.
Federal oticcholder takes a solemn oath
To enforce the laws Of the United States.
The same oath ohligates him when he
flnds bad laws on the statute books to
seek TO correct their defects"
The convention spccdcd up the ma
chincry Of the n day and adjourned
shortly before ] o'clock. Resides the
address Of Governor Hamlin annual
election OF officers and the considera-
ton OF resolutions occupied its atten-
ton at the final session.
Il. Is. Spencer, of Roanoke. was elected
president OF the association. and w.
Meade Addison. OF Richmond, was
elected vice-presidcnt. Neither was on
posed. The only major contcs, was for
the treasurcrShip W. i. Augustine. OF
the Merchants National Bank of Rich
'nond' won over Fred D. Maphis. OF
StrasourE. by n vote of Of to 46
Walker Scott. OF Farmv!lle. was elected
10 succeed himself as secretary.
PROVISION MADE EoR
COMMITTEE on INSURANCE.
The report OF the resolutions com
miitcc. which was adopted as made
provided Tor tho creation Of q now
standing committee. to hc c0mnoscd of
,hr"" members acting viii, the secrc-
iarN Of ;ho association. II Will ho
known as the on Insurance
me resolutions provided also for a.,
appropriation OF SiO0 to promoto .h,,
educational features Of The Aueric,n
institute OF Banking among the bankers
"f The state and their employees and
AN appropriation Of $500 TO the COM
'h''tce on agricultural and financial de-
vclopmcnt and education.
ON behalf Of the association. Norman
~ Williams. OF Chase city, presented
u" III" retiring president. c. l.. Tiffany,
Il handS"n" silver loving cup. To tho
retiring treasurer, Julien n. hin. or
iNIfnr1DFlh sNAfI., ~
presented. on behalf of the association
ny w Il. Vest. OF Ncwpor, News w
IN" absence Of MIR. IIill. who was do
tanned by n recent bereavement IA
token was received by v~lcc-rresiden,.
Elect Addison.
The committee on taxation. Olivor II
sands. of Richmond. choirm,,
S'hted an extended report. concluding
With ii recommendation in these words.
IN" committee feels thar i, should
u" the duty of every banker i'm ,bn
state to Keep before his indiyid,nI
s~'ockholderS tn" fact that the bank
- neing required to pay for him a
"'sher rat" on his bank stock than
upon any other investment which bo
mas and the hanks of this state should
not be satisfied until this unjust dis.
elimination is removed.
Ht:iINf:S BANKS HOUID
Make TEST CASE
Your committee has been favorable
20 the banks making n test caa. in
the courts in order to secure Justice.
am" We are Of the opinion tina, the
constitution OF Virginia distinctly
provides against such discrimination.
'nt whether proceedings of this char
a't"r arc instituted g. not. your COM
mite" strongly urges that the bankers
OF Inc S;ai" continue to insist that the
TAX upon It's shares shall no! he nj a
hlther rate than upon the shares OF
o'hcr corporations in the hands Of In
diViduals, whether such corporations
are competing or not. This. we lie.
llcN", was the intention Of CONGRESS
when II passed tho national bank act.
winch stated IN section 52l9 that
shares OF national banks should not
b" taxed az It higher rate than other
moncycd capital in the hands OF in
tividuSis,
Your committee should cndeavor to
secure such Federal legislation as will
cave ~" doubt rs to the OF
th!S clause III tho national bank act.
we urge the bankers OF the state
:" do all in their power TO have the
state OF Virginia pass such laws as
20 taxes on intanrib!c property, stocks
and bonds. AS will prevent the driving
away from the State people who have
large investments of this character.
The District or Columbia and some OF