Every evening, Wilmington daily commercial., 1918-09-05
IMPORTANT TOPICS
BEING CONSIDERED
BY STATE BANKERS
Financiers in Annual Session Today,
Dicsuss Revision of
Laws.
URGE NEEDED CHANGE

Governor John G.. Townsend, presi-
dent of the Delaware State Bankers
Association, presided today. nj the an
nual meeting of the ASSOCIATION, held IN
the Hotel du pont The meeting which
was attended by upwards of ltm tinanclcrs
of the State, convened shortly before II
o'clock, and was followed at noon. by n
luncheon in the grill room of the hotel
A. f. Maxwell. assistant cashier oi the
| National Bank of Commerce OF New ork
. City. addressed the bankers on the sub
ject. Advantages Of Trade Acceptances
Following the luncheon. the bankers
entered into a discussion of tour import
ant questions They are as follows
Revision Of State banking laws, and
the creation Of State hank department
Advisabilitv Of State banks and Trust
companies. becoming members ct the
Federal Reserve system.
The advantages OF Trade Acccptanccs
IN commercial banking
\ systematic campaign for the Fourth
Liberty Loan
Ono of the most important items oi
business vi the morning was the election
of officers. John : Rossel, president Of
The Security Trust Co, WAS chosen Tor
fhC presidency of the organization, tcorgC
Massey Jones " Dover. viCC-prCsidcnt,
and William G Tavor of the Delaware
Trust Co. was named secretary -trcasurrr
Robert 7. Robinson, president OF the
Central National Bank, Of thus CITY, WIS
chosen 10 the executive committee tor =
thrcc-yCar term.
Taking up tho discussion Of important
banking matters. thorough taiklng-ovcr
vas given the matter of the Federal
Reserve system and tho need ot AL tankS
and trust companies to become members
of Il Mr. RoSScll SAID tho institution Was
a war measure. and that tho President
had asked tho banking interests oi the
country for their complete cooperation.
Vt the end az the discussion a resolution
was adopted calling upon all hanks and
trust companies IN the state To Ioin tho
system as soon ms practicable asher
DIVER al the Federal Reserve Tank
centre in Philadelphia. was on hand 70
,alk about the system. and answered p
large number of questions propoundcd hy
those present
Governor Townsend in addressing he
meeting. paid Delaware bankers and
financial institutions generally high
compliment lie SAID that he war had
brought forth thcIT very best efforts IN
>tIpnort of the government and their most
,.otnplctc co-opcratIon with II. They had
not only done their tut, but something
additional To this he added tho thought
that they were AL IN most prosperous con
dltlon, the progress Of the banks being
reflected in the progress and wcll-beIng Of
the community
President Rosscll IN accepting hls
election. spoke IN similar war strain and
called attention particularly 70 the APP
proach Of the fourth Liberty Loan cam
nsign In the first tho people Of Della
ware, over and beyond the great sums
bought bv the du FONT interests, had
purchased S4,0O0,Oo0 worth Of Liberty
Bonds In the second campaign this was
doubled. and the third saw It trcbled
This time he believed the people OF Deia-
ware would be asked to buy no less than
Sl6,000,O ,O0G. four times the first allotment
The association adopted a resolution
favoring thorough-golng cooperation
with the government IN the tfotauon OF
the loan and agreeing to canvass the de-
positors represented and the various
communities.