The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1916-09-27
Bankers Want Federal Regula.
ton to Supersede State.
Present Confusion HandicapS
Lines, Scares Investors.
DO AWAY WITH GREENBACKS
Bankers Would Retire Them
for Reserve Currency.
Convention Guests See Horse
Show at Long Estate.

Kansas City. Sept. 27.---Congres-
sional legislation in regard to railroads
which would make federal control
superior to that of the states, was
asked in resolutions adopteI an1 an
nounced today by the Savings bank
section of the American Ba lkers' as
ISOLATION in annual convention here.
The resolutions declared that railroad
Improvements had been arrested be-
cause of the costly conflicts arising
between the various state and congress
sional rulings" in the supervision of
the railroads.
Less new mileage was built last
year than ia one-half a century, with
more lines in bankruptcy than at any
time in the history of the country"
the resolution set forth. This was said
to be due, lin a large measure to the
impairment of railroad growth because
arisen in consequence of the confusion,
waste and lnefficiency OF railroad SUI
pervision by congress and at the same
time by forty-eight states"
Savings Banks Hold Interest.
The savings banks of the country
are declared to hold more than $780,
| 100000 in railroad stocks, which rep
resents the deposits CT more than TO-
! 100000 persons.
Congress is asked in the resolutions
| to hear the committee from the saw
ings banks section before adopting
any railroad legislation. Officers
elected by the state secretaries sec
ton were: Major s. B. Rankin. CO.
lumbus, o.. president; F. H. Colburn,
San Francisco. first vice president
George D. Bartlett, Milwaukee, second
vice president. and E. A. Philpot, Dali
las. secretary and treasurer.
Would Retire Greenbacks.
Other national legislation was asked
| for in the resolutions adopted by the
national bank section This included
the passage of laws retiring green
backs and national bank currency and
making burglaries against national
banks a federal offense. The officers
named by this section were Joseph F.
wood Cox, High Point, n. c., vice
president, and Jerome Thralls, New
| York, secretary.
The section meetings were the only
business before the bankers today and
following the morning meeting many
I of the visitors were taken to the cOun
ltEN.home. of r.. A. Long where they
4 were to view a horse show exhibit
4 from the stables of Miss Ioula Long
Others went to the city's country
clubs where a bankers golf tourna-
ment was being held.
More Than 1000 Registered.
Bankers continued to arrive in Kan
sas City in large numbers today and
| the registration passed the 1000
mark. Among those arriving were w
| P G. Harding, governor of the fedora!
reserve board and Frank A Wander
lip of New York
Urge Adoption of New System.
Kansas City. Mo. Sept. 26.-Recom-
mendations for changes in the ma
| tionaI banking and federal reserve
acts were expected to be made here
today by bankers attending the an
nual convention of the American
! Bankers association. This action was
to come up before the national bank
section following last nights meeting
which was addressed by John Shelton
Williams comptroller of the currency
and was to concern consolidation into
the federal reserve board of the Of
fees and jurisdiction under the ole
| national banking act that are partially
duplicated by the newer system.
The discussion was to embrace an
immediate retirement of greenbacks
and a gradual withdrawal of national
bank notes in favor of the more re-
cent reserve currency, return to mem
| bers of the reserve system of part oil
their subscriptions and making mem
bership in it optional. for banks with
a surplus of less than 100000. These
and other similar subjects to be con-
sidered were declared to be among the
most important to come before tn,
convention.
I.oula Long Puts on Show.
The program for today also called
for trip for the bankers to the coun
try home of r. A. Long, in rural Jack
son county, where a horse show will
be held for them this afternoon. Th'
, string of harness horses and saddler
owned by Miss Loula Long, r. A
Longs daughter, that have won hon
, nors at horse shows turnout tn
United States, will be exhibited on tn
private track at Mr.. Longs estate
: Nearly a thousand motor cars wer
obtained by local committees in which
to convey the convention visitors t
the farm, about twenty miles south
east of kansas City.
: Bankers Aid to Lift Censorship.
) New York, Sept 27.-Agents O
American banks in London will be ap
pointed members of a committee wit
r headquarters in that city to co-operat
1 with committee of American bank
ers in an attempt to alleviate the Brit
! ish censorship of American mail an
the British blacklist. says A Barto
1 Hepburn who acted as hos. at tn
5 luncheon and conference here of Ne,
s York bankers with Sir Richard Graz
I ford, trade representative of the Brit
9 ish embassy at Washington.
The London committee Mr.. Hep
8 burn says will cooperate with tn
Y British censor and the governmer
f officials in an effort to curtail the de
2 lay now caused by the censoring c