The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1920-04-14
URGES CAPITAL

q
ing their own at this time" the prAi-
dent said. These men are quitting
the farms to go elsewhere.
"One relief which should come is in
taxes. / hope laws may be enacted
for abolition of local and government
tax free bonds. The state of Kansas
took a step backwards in the repeal
of the inheritance tax law. 1t should
be revived. No fairer tax system was
ever devised. In the matter of in
come and excess profits tax, measures
should be taken to safeguard against
evasions. The government should
tplaee in every community special in
vestigators who will catch the local
spectators who rarely pay taxes on
their blue sky dividends
For State Clearing House.
Creation of a state bank clearing
house and revision of the basis of
representation on the executive COM
mittee of the American Bankers asso-
citation thru appointment of more state
bankers, was urged by the association
president.
state bankers could do nothing
that would be more beneficial for their
success in the future" said Hanna,
than thru incorporation of some kind
of clearing house of their own and
the handling of their own checks. One
of my good state banking friends tells
me his float for the month of Feb
time the state bankers were looking
after their own interests"
Praises Federal Reserve Law.
| Hanna praised the federal reserve
system as the greatest piece of legisla
ton by the Wilson administration. He
said kind words for the state bank
| guaranty law.
1T now has a fund of a half mil
| lion dollars in cash" he said. land l
am told that the loss to the fund thru
the Salina bank failure will not ex-
coed 100000.
Hanna criticised the branch bank
| ing practice as seriously interfering
with the business of the small town
| banker.
More Than 500 Bankers Hero.
More than 500 state bankers were
expected to attend the eleventh annual
convention of the association in To-
peka today and Thursday. General
banking business, legislation, invest
ments, industrial conditions-even a
little polities-will be talked during
the two days gathering.
| Mayor Herbert j. Corwine welcomed
the money. lenders this morning
when he spoke at the opening session
of the association. Senator +. @. Ber-
gen, vice president of the association
! and president of the Farmers &
Stockmen's state bank of Manhattan.
| responded Then came the speech by
President Hanna of the Farmers
| State bank of CLAY Center. The re-
port by Senator ]. r. AnsPaugh, secre-
| tary. and appointment of auditing, res
| olutions and legislation committees,
together with the report by S. f. Cobb
| of Topeka, treasurer, concluded the
/ morning session.
koWGIen Arrived at Noon.
| Governor Lowden's speech this aft
| ernoon was expected to be the feature
talk of the Convention. The Illinois
/ governor came to Topeka at noon and
| was a luncheon guest at the Topeka
club. Tonight he will be given a din
ner at the Chamber of Commerce. A
number of delegates to the Republican
national convention came to Topeka
| today for the Lowden speech.
| w. r. Stubs of Lawrence, former
| governor, this afternoon told the
bankers of operations of the bank
guaranty law enacted during his adj
ministration. New Business was the
subject of a speech by w. A. Bailey,
assistant cashier of the Exchange
State bank of Kansas City.
Bergen as President.
| Dope among the early arrivals for
the convention indicated the probable
| promotion of Senator Fred G. Bergen
to the presidency of the association.
j. H. Lee OF Topeka, president of the
Kansas Reserve Investment company,
is generally listed to succeed Senator
Bergen as vice president of the bank
ers organization. Both Senator Ber-
gen and Lee are prominent among the
state bankers and have been active in
their affairs during the last several
years.
Governor Allen will be the principal
speaker Thursday. He speaks Thurs
day morning.
no. -,.Trrr ~ ~