The Birmingham age-herald., 1920-10-19
DELEGATES DEMAND
 REPLY ID WILLIAMS
Bankers Association to Con- sider UnjustifiabIe Interest
 Rate Allegations
By Associated Press

1 Washington, October 1S-Technical questions scheduled for discussion at the
 American Bankers Association conven-
 eion here were displaced in interest
 among delegates today by the contro-
 Versy centering around charges oft "un-
 Justifiable interest rates' made against
 New York banks by John Skelton Will
 hams, comptroller of the currency. 4 Officials of the association tried all day
 to avert the threatened storm. but if
 was stated after the days sessions of
 the various convention groups that there was a demand by delegates for a reply
 to Mir. Williams assertions The charges
 made by the comptroller will be consid-
 cred by the committee on resolutions and
 later will be taken to the floor of the convention, it was said
 The public relations committee in a statement tonight said:
 The general expression among the wis., iting bankers was in criticism of the at
 tack made by the comptroller of the currency, the majority of them pointing
 out that MT. Williams did not give in
 his statement the amount of money loaned by the New York bankers on call at the high rate of interest men, toned. The various bankers estimated the amount so loaned at from 1 to Z per cent.
 1 They are inclined to class money as | a commodity and point out that there
 has been less increase in the money rates
 than in any other commodity. It also
 was stated that the greater amount of
 money Is being loaned at from to 7ls
 per cent while the prevailing low rate 1 prior to the increase in other commodities
 was from to per cent
 Supporters of MT. Williams among the bankers, however. said they expected to express themselves freely" when the question reached the convention floor Several bankers were represented as feeling they had not had Square deals"
 at the hands of some of the New York banks serving them as correspondents. Discussion of the Williams charges crept into the executive meetings of the various group sessions but mention of
 the attack was met with announcement that the subject was not one for any partieul group to deal with and that preparations were being made to have ! the association express it's views for nally.
 The insurance committee decided to in vestigate reasons for advanced rates on burglary and hold up policies. Companies | rates several months ago without giving
 reasons for the advance, members of the
 committee stated
 Much interest was manifest during the day as to recommendations to be made
 on federal tax revisions. A plan of pro cedure was formulated by the commls- sion, but gave no details.
 The commission is expected to draw
 up recommendations also as to trans portation farm credits. blue sky legis- laticn and the financing of big business
 Richard s. Hawes, president of the as
 sociation, has written all members urg- ing support for the American relief ao- minstraton n Europe durng the wnter
 He said today that the next winter pre-
 sented a situation as precarious as any since the armistce.
 By extending the food drafts plan, alo
 may be extended to any of the stricken
 areas without administration expense. MT HaWes said.