The Richmond Virginian. (Richmond, Va.) 1910-1920, 1917-09-29
BANKERS Of FIFTH
DISTRICT IN SESSION
Exchange Views AS to Methods to b
Pursued In Placing Second
Liberty Bond Issue.
ALL MUST AID TO WIN WAR
Fact Emphasized That In This Titanic
Struggle Each Person Must Con-
tribute Enort or Money to Nations
=, Cause. .e.., t+,.l7- o.. !, -

Probably seventy-nve representative
bankers of the Fifth federal reserve
district gathered here yesterday MORN
ing 20 discuss plans Of organizing the
great liberty loan campaign. which
opens Monday for the placing OF three
billions OF dollars worth of bonds TO
pay the expense OF conducting the war
to make the world safe for democracy.
Two sessions were held In the bali
room on the ninth floor of the Rich
mond hotel, the morning session com :
nencing at 1890 o'clock when the
presiding officer, Governor George
Sesy. of the Richmond Reserve bank.
introduced Governor Henry c. Stuart
who welcomed the visiting bankers 10
the state
Mayor George Ainslie then extended
Douglas Freeman and Chairman
John Kerr Branch. of the Richmond
liberty loan committee addressed the
meeting
Then william T Dabney, executive
manager of the last campaign for this
city and chosen to the same duty in
the present effort; Claiming Rudd. rep
resentinz Chairman Wilcox: Chairman
w A. McCorkle. OF the West Virginia
campaign committee and other liberty
loan chairmen explained the methods
pursued in the first campaign.
Dabney Tells How 1t Was Done.
Mr. pahney, In describing Richmond
wonderfully successful effort, told how
Richmond has placed sl2,5o0, oc0 bonds
under a seven bill on dollar allotme nj
and how that, with IS per cent of its
population colored. one person out of
every six In the city had subscribed TO
the bonds
Whole Country At War.
In the several addresses to the
bankers. including that Of Governor
Seay. the fact was emphasized that the
entire country is AT war and that II is
the duty of every person to participate
In the efforts being made. 70 win the
war, either by active service at the
front, by financial or industrial sup
port --
The afternoon session was I'm the ma
ture OF an open forum for the inter
change of views, number Of the
bankers exchanging in the discussion
their communities, and In making In
quiries as to points on which they
were not quite clear
A Bankers Opinion.
One of the interesting features of
the meeting was a very brief but ex
ceedingly timely and sensible speech
by President John NJ. Miller. Jr.. of the
First National bank, Mr. Miller said
that at the outset Of the last campo ign
there were two schools of thought In
Richmond. one Of WHICH thought that
the hanks should not take bonds them
selves but merely place them with the
public. He declared that II was his
personal opinion that no banker should
ask his customers to do what he would
not do himself and that 1t was the pol
icy OF the institution represented by
him not only 20 use it's influence for
the placing of the bonds. but 10 take
just as many OF them as 1t could pos
sibiy handle itself,
Governor Seay agreed with Mr.. MIL
Ter. declaring that the bankers should
assume the leadership Apropos of the
present situation Mr. Scay read tire
following extract from a statement
made by President Frank A. vanderlip,
regarding the last bond issue;
Mr. vanderlip's View.
This loan cannot possibly be taker
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