New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-10
American Bankers ASSo-
citation Considering Ask
ing Latins to Join.
PLAN OPENS WAY
TO SHARE IN TRADE
Fiuanciers Preparing for Com
petition After War-Reserve
Clearing House Opposed.

fFron1 a s. ~ Cores pcrdefl q me 4'i''-'o'
Briarclif Manor, y. y. May g
South American banks will be taken
into the American Bankers Association
II proposal to be brought before the
executive council tomorrow is ap-
proved. This proposition reflects the
awakening Of American bankers ana
business men 20 the opportunities OF
extending the banking influence OF the
United States into the neighooring
continent. Il rejects also realization
Of the international trade warfare that
will follow the world war.
Whether the big German banks OF
South America would avail themselves
Of membership in the American associ-
alton is one Of the questions raised by
.be nroposal. Ii is also proposed 70
take Cuba into full membership.
Reserve Clearings Discussed.
Action on the South American pro
nossl today was prevented by the long
discussion Of the new clearing mouse
nronosition for Federal Reserve banks.
The Federal Reserve Board, acting
within its authority, has named June
TX as che date after which Federal Re
serve banks will act as a clearing house
on all checks from member banks, and
after that date Federal Reserve banks
must accept at par checks on member
hanks. Strong objection to this mas
come from country banks, with which
exchange is a considerable item OF
profit. A motion asking the Federal
Reserve Board 20 postpone the time
limit was tabled. then taken from the
table and made the order OF business
AZ II o'clock tomorrow morning. The
matter was referred TO the executive
committees Of the clearing house sec
ton and the national bank section, and
20 Benjamin Strong, governor OF the
Federal Reserve Bank, who was pres
ent at the discussion.
Teach Farmers by Teaching Bankers.
The Cotton States Bankers Confer
ence met at luncheon to-day as the
guests OF Joseph Hrsch. vice-president
of the Corpus Christ Tex National
Bank and president Of the Cotton Con-
ference. They have been making sue
cessful efforts TO diversity Southern
crops by refusing loans TO men who
could give only cotton crops as secu-
rity. They are teaching the farmers
by teaching the bankers. They dis
cussed the uniformity and mobility of
warehouse receipts.
r. L. Harris, president Of the First
National Bank of Champaign, H.,
chairman Of the Agricultural Commits
sion. said they we're not teaching the
farmers how 10 farm, but teaching the
bankers how 20 bank The demand for
the good roads" number Of "The
Bankor-F rmer." he said. had exhaust
ed four editions. Incidentally, he added
that at least forty Of the fifty-eight del
egates from Illinois would go 70 ROose-
Welt at the drop Of the hat more Of
these bankers here admit TO me that
they are for Roosevelt than viii admit
IL 10 q newspaper reporter" he said.
William G.. Edens, however. also Of Hi
nois. said that the ffty-eight Illinois
delegates could be counted on 70 stand
by Sherman, and that he would have at
least 100 votes on the first ballot.
School Banks Praised.
At the instance Of the Savings Bank
Section, a resolution was passed adj
dressed TO the New York City Board
Of Education, indorsing its school saw
ings banks. The savings banks are
launching a thrift campaign on the
centennial of the opening Of the first
savings bank.
The association may go on record
for preparedness at to-morrOw's SEES
sion. A message received to-day from
the Merchants Association of New
York asked the bankers support in
their preparedness propaganda.