The sun., 1918-07-18
COUNCIL OF STATE
BANKERS FORMED
Institutions Of Thirty-three
States Represented in
Organization.
TO UNITY BUSINESS
Pledged to Promote General
TO UNITY BUSINESS
Pledged to Promote General
Efficiency and Cooperate
With Federal Reserve.

With view TO unifying the State
banking business OF the nation, bankers
from thirty-three States have organized
the United States Council OF State Bank
ing Association.
w. II. Booth. vice-president OF the
California Security Trust and Savings
Bank. has been elected president OF the
association. Independents are William
MacFarran, president of the State Saw
ings Bank of Topeka. Kan, and George
w. Rogers. vice-president of the Bank
OF Commerce OF Little Rock. Ark. F. II.
Sisson. vice president of Guaranty Trust
Company OF New York, has been made
secretary, and William b. Boulton OF
Morristown, N j.. treasurer.
The articles OF the new organization
state that its objects shall be to pro-
mote the general efficiency and welfare
OF the American banking system, to OBJ
ain cooperation between States and with
the national Government In securing
sound and uniform legislation, both
State and national, and to bring about
a general strengthening OF the banking,
financial and general economic condition
OF the nation
While II ere has been some i'll feeling
| at times between some of the state banks
and trust companies and the Federal
Reserve Bank members. It is not the pur-
pose of the new organization to oppose
or antagonize the Federal Reserve sys-
| tenn. as may be seen from the following
resolutions, which have been adopted by
Il e new association:
| Whereas the extraordinary condi-
tione through which the world Is now
passing have developed new problems
and greater responsibilities wi ich must
be met and solved by the bankers Of the
| United States. and fully realizing that
the welfare OF the nation can best be
served by the fullest extension of both
the national and State banh systems.
neither system conflicting with the other.
but eact cooperating with and assisting
the other in financing the war. in de-
veloping our natural resources and in
| extending our commerce therefore be II
Resolved, That we recommend that
| State banks trust companies and private
banks. savings banks. located in the
several States form State organization
for the purpose OF conserving and pro-
tecting those local privileges and in
| terests which have been developed and
become inherent in State financial insti-
tutions; and for the further purpose Of
securing such legislation IA may be
necessary to perfect the State banking
systems.
at is not the purpose OF this associa-
ton TO oppose or In any way antagonize
the Federal Reserve system as at pres
ent constituted. but 1t is our desire to
aid and assist the Federal Reserve Board
in every way possible for the promotion
OF safe and sound banking:
TT at this council cooperate with the
American Bankers Association and the
ho nf
States In all matters affecting banking
interests, and II is not our purpose to
withdraw in any way support from
either OF said associations
That we renew and redeclare ouI
allegiance to Woodrow Wilson. the Com
mander in Chief OF our army and navy
We pledge all that we are and all thai
We have to victorious termination OF
. the great conflict between medieval au
. tocracy and the free people of the world
In our organized capacity we stanC
ready to respond in the future as STATE
banks have responded in the past t.
every call made by our Government 70
either moral support or financial aid
That the secretary OF this association
I be and he is directed to forward a cop,
OF these resolutions to the President o
the United States and to the Secretar!
OF the Treasury also copy TO tn
|
| citation and to the president OF the sew
eral state banking associations and Z
, the chairman OF the Federal Reserv
r Board
, The executive committee Is compose,
, of the following:
] First District-Albert o. Brown. Man
I chester, n. II.
9 Second District--Charles II. Sabir
! president Guaranty Trust Company o
= New York.
Third District-George II. Earle, Jr
Ell president Finance Company OF Philadel
! phia.
( Fourth Distrct-Malcolm McGiffir
;. president Fidelity Title and Trust Com
l. pany. Pittsburg
Fifth Distrlct-Emory L. Coblent;
president Central Trust Company. Fred
erick. Md.
sixth District-Forrest Lake. pres
dent Seminole County Bank SANFORD
y Fla
Seventh Distrct-H A. Moehlenpal
Clinton, wis.
Eighth Dstrict-Charles C. Mccain
= vice-president and secretary Banker
u Trust Company. Little Rock, Ark
/ Ninth Dlstrict-George G. johnson
y vice president First and Peoples stat
e Bank. Thief River Falls MINI.
II Tenth DIstrict-Charles l., Engl
e president Commercial Bank. FL Rem
o Okla.
Eleventh Distrlct-Travis oliver. vic
n president Central Savings Bank ar
L. Trust Company, Monroe. La.
e Twelfth Distrct-John s, Drum, pres
dent Savings Union Bank and Tru
Company, San Francisco.