The Birmingham age-herald., 1918-03-22
Fletcher Mellon of Center vile Nominated to Suc-
 ceed R. H. C0chrane
BANQUET LAST NIGHT AT TUTWILER HOTEL FOR VISITING BANKERS
J. F. Duggar of Auburn and M. D0tsOn of Louisiana Speak to Bankers on
 Farm Work

M. B. Wellborn, chairman of the federal reserve bank of Atlanta, made
 the principal address at the session lof Group of the Alabama Bankers association, which convened yesterday afternoon at the Tutwiler hotel. his subject being "Curtailment of Bank
 Credits" The emeting convened at 2 o'clock with 50 delegates and visitors present, and was presided over by R. H. Cochrane, cashier of the City Ma tional bank of Tuscaloosa, chairman of Group 2.
 The welcome address was made by l ". H. Manly, cashier of the Birming- ham Trust and Savings bank. and the response was by c. B. Werner, presi- dent of the Merchants Bank and Trust company of Tuscaloosa.
 l Short talks were made by w. W. | Crawford, president of the American
 Trust and Savings bank, and Alex Walker, state bank examiner. while | J. F. Duggar, member of the faculty of the Alabama Polytechnic institute al Auburn. and M. Dotsou, in charge of the farm work in Louisiana, made very interesting addresses.
 Fletcher Mellon, cashier of the Peo- ples bank of Centerville, was nominated vice president to succeed R. H. Coch- rane, and committee on resolutions was appointed as follows: J. Kirkman Jackson, John H. Frye and W. H. Manly. A splendid report of the activi- ties of Group ? was made by MT. Cochrane, after which resolutions were read.
 A SOCIAL SESSION
 The evening session was of a social nature, a banquet being held in the ballroom of the Tutwiler at : o'clock with Oscar Wells, president of the First National bank. as toastmaster. Interest | ing talks were made by J. kirkman Jackson. president of the Alabama Bankers association; Crawford John son. chairman of the Alabama War Savings committee, and H. l.. McEl- derry, president of the Talladega Ma tional bank, as well as impromptu talks l by practically every visitor.
 The Alabama Bankers association Is divided into grops by sections of the state so as to facilitate the work of l the association. Group No. l met in Decatur yesterday, and is composed of members of the association residing in I the northern section of the state, while Group No. 2, which met yesterday in
 Birmingham, is composed of members living in Jefferson and adjoining coun ties Group No. 3 meets in Montgomery today and is composed of members liv- ing in the central section of the state, and Group No. A. composed of members living in south Alabama. will meet Monday in Mobile.
 WELLBORN'S ADDRESS MT. Wellborns address. which was the feature of the session yesterday. was on "Curtailment of Bank Credits, and in full was as follows;
 For the first time in it's history the United States is engaged in world war. In our previous wars may say the odds were in favor of the United States, but since the collapse of Russia, our country and it's allies probably have no decided advantages at the present time. 'The enormous task which we are called upon to perform is one which re- quires the mobilization of all our re- sources, material and moral. Those of us who cannot fight for our country on the battlef1elds of France, can and must help win the battles by loyalty and self sacrifices at home. The bankers up to the present time have shown great
 patriotic zeal, but have not been com pelled to make any real financial sacri- fices, but as time rolls on, they will surely be called upon to do so, and 1t behooves you to put your house in or der, so. that you can be prepared to render the necessary services to our government in this time of need CURTAILING CREDITS "The necessity of banks curtailing credits during the period of the war is one of the most important problems that now confront us. 1 wish to bring home to every banker here the impor- tant responsibility which rests upon you as the most essential factor in the finan- ciai organization of the United States credit as may be practicable for it's im- mense financial requirements, and the duties which devolve upon you to irn- press upon your customers the absolute necessity of saving credit as we'll as food and other materials. For instance. It might be well for you to urge upon your mercantile customers to carry smaller stocks of goods, and cut out articles of fa shion and luxuries as much as possible. and to urge upon their customers to pur- cha SC plainer and more serviceable goods. The business of banks in the matter of loans to their customers is composed largely of credits obtained for acricultural industrial and commercial Ipurposes and I may say that 1t is not 1 the desire of those who are directing | the financial affairs of the government to ask the banks to restrict loans where lthe proceeds go into activities that are necessary for the productiveness of the country-but it is desired that loans asked for by borrowers to be used for luxuries. comforts and investments, either of temporary or permanent na- ture. should. during the period of the war. be almost entirely eliminated, so that the available supply of fundse of the banks can be employed in purchas- ing government securities. Unless this ;s done. it will be hard for the people to furnish the money which the govern ment must have to supply our gallant soldiers. among who. no doubt are
 your sons and brothers. who may be at
 this very moment shedding their blood
 for us on the battlefields of France.
 INCREASED BANK DEPOSITS
 "The banks should, until this war is
 ended, be willing to curtail unnecessary
 credits and place their funds in loans
 where they are essential to produce
 food crops, and to finance industries
 pertinent to the war Banks in declining
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