The Barre daily times. (Barre, Vt.) 1897-1959, 1917-02-23
VERMONT BANKERS ELECTION
A. II. Chandler Of Bellows Falls Was
Chosen President.


A. Fl. Chandler Of Bellows Falls wa,
elected presidnt OF the Vermont Stat,
Bankers association at the eighth annua
meeting held in the Kellogg Hubbard
library at Montpelier yesterday after.
noon, There were about 100 bankers in
attendance at the meeting and the ban.
quet in the Pavilion hotel last evening.
The officers chosen are as follows; Vice
president, L. Ii. Bixby of Montpelier
secretary, c.. s. Webster of Barton
/ treasurer, d. W. Wells of Orwell; execll,
tive committee, X, u. Smith OF White
River Junction, Fl. Il. Gray of Winooski
Redfeld Proctor OF Proctor and G. f.
Staples OF Brattleboro.
A meeting of the executive council,
comprising a dozen members OF the as
soeiation, preceded the business meeting
IN the afternoon. NA9
Invocation by Rev r. Barnby Leach,
rector of Christ Episcopal church, was
followed by the appointment of nom
mating committee, which later reported
the names Of those selected to serve as
officers for the year ensuing, the COM
mittee's choice being ratified by the as
sociation as a whole.
Harlan w. Kemp of Montpelier well
coined the bankers to the Capital city
and the response was made by Joseph
Fairbanks of st. Johnsbury.
The principal addresses OF the after
noon were made by the president. H. G.
Woodruff of Barre, and by Charles p.
Holland of Brockton Mass, president of
the Plymouth County Trust company,
who spoke on "The Relation OF the Bank
to Agricultural Interests Informal dis
cussion followed the address.
Economic Preparedness" was the title
selected by Mr.. NJ. W. Harrison of New
York City, secretary of the savings bank
section, American Bankers association,
for his address at the banquet last night.
j. Franklin Babb spoke on "You and
Your Town"
Legislation to allow trust companies to
invest in public utility bonds. cooper
ative thrift" campaign similar to that
conducted by the American Bankers
association, and increased activity by
the agricultural committee of the asso-
citation were the principal things advo-
Gated by President II. G. Woodruff in his
annual address yesterday afternoon
President Woodruff insisted that pub
lie service company's bonds, provided the
is furnishing utility to a
or communities, instead OF
a group of individuals, should be as good |
an investment as municipal or mortgage
bonds.
Banks are confronted with the prob I
lem of how to invest money and still /
pay depositors four per cent interest, |
the unparalleled prosperity in the west
ern states having dried up the stream /
Of the western farm mortgage field.
Another factor to be considered is the /
federal rural credits act which may work +
Dut well for farm and savings banks
like but needs amendments to make
t satisfactory He urged increased CO.
operation between farmer and banker
md encouragement of agriculture.
A thrift campaign, urged the president,
,ould not but help to increase savings
deposits and it would do much more in
Issisting persons to learn the value of
aving and providing for future contin-
,encies.
In conclusion, the president advised
he ASSOCIATION that an advertising cam
,aign with Vermont association cooper
Ition would undoubtedly bring forth
,ood results. /.
Bank Commissioner Frank Williams led
n the discussion of II. $50 now in the
lands of a legislative committee on
,anking. at the request OF the associa-
ion. and voiced the belief that the
Measure If enacted would increase the
eld for investment by savings banks
d the state. allowing the institutions TO ,
nvest in limited amount Of public util- ,
tv bonds and bonds of Great Britain and /,
anada-
The commissioner believed il to be /,
afe and feasible for savings banks TO !
1vest in such bonds to . limited amount, !
ut was not entirely sure that the bill :
ntirely safeguarded the banks. II was =
rawn ON the theory Of net instead of I
ross income Of public service companies,
nd a difference Of opinion exists on that I
oint. He did not believe savings banks r
ould be seriously affected by the fed d
al rural credits act as Il may be neees- 5
,ry for the government to finance banks j,
ith capital loans. b