Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1920-10-22
Bankers Endorse
{ ederal Reserve and
End Capital Meet

N aSUI1r-xiC- Ggl- ..f-z4RlkzT n
dnrsemsur Of me Fedora Reserve
sss-<.m coupled with q pledge - aid
ing National Railway Euulurnt.ur
Corporation organized - aeap -ne
CARRIERS 0b1an equipment marked
uhf cunclusiun .oGay af a .g-1up Of
ASSOCIATION canzznZaan
AS an 8ulgT-Uw-n OF the convention.
bankers and others 1y1rn 1ns c,fzun
states took s.sps preliminary . ne
Organization If a x7...Bgb aae cr~lp ex-
2aI- financing t.urpsrHaun 10 maer
1ns situation wnarr lsu IN nuue-uuE
Appeals t,yEm G8I-un growers 1or gov
e-umeuT -eliE1
The carz1ura-1ur VIII We a1r-npd IN
der -ns EaEe Ac- AnG STAR operations
win an inlraal DRAG II l-aaI-za- zzaz1cu
ann sarplns n Sc ss1. SET
The Federal Reserve System YVES
gzaens unE-lnEs1 qra1ss br Lae Ma
-lnna- Bankers g-aup II resolutions
adopted AZ their 1naz zneerlng wnlie
-ne approval of the equipment chr
aura-1Hn anu the pledge 10 "a hszure
the state legislatures waare neces-
SAY u obtain revision If laws pre-
n1nIZuE Investment IF r-u@ 1unas n
s1ch securities was voted Or me
SETtngs Banks Section The ac-lun
WIS based upon me Increased values
gwen al railroad securities through
C-zsElun af Las equipment cnrpnr-
alan- the resolution SAG
se--ue System. which included aaurp-
"a af rs administration brought me
national bankers AGAIN IN SHARP I'D
Position % me stand taken ny the
STAIR Bankers WIN Tes-saRv de-
npnnced several phases nj me Re-
serve Boards WORK Lenders N the
TWO gouns Of aalkilE discussed ID
uIgnE me differences oeTwesn me TWO
ss.r1luns might came - Hgat when
1i1s -eper- Of ras Resolutions Cum-
m.r-Re reached ne r-snueurlun ~
morrow Al r~ssnlucluns akiapted II
ssctaunE meetings VIII he considered
BY me AasaciR-ion cammIT-Aa ana
ina artinn ne taken by ne cnnrsn-
non as a wf03e
TX I4AA z44dE-11-4-1E FsDfd-1ttu
lssrz took shape al an informal meet
lng IF several hundred bankers and
Representatives Of cDrzun inre-es1s a
sssesiai caEnmlEae nehied hv EooE,r
r Maddox M Atlanta presented
1ararzi1ie ra1or--
Tentative pials would enable the
corporation ID handle al KINDS uf .aE-
-acuiru-z- commodities Du- leaders u
Eifs movement a1Tner a. rne reIief of
lecI Speakers guHn1ed our benefits
vnlch they believed would ne derived
by al producers AZ farm products
The plans provide fur STOCK sub
Rcrrp1aunK On me 5asa Esf unF dollar
= haze of cD--an produced N 1hs Va
-sous states and the payment dpwr Of
ma. az the amount cr Sc. tsBE l6H OF the
Incorporated capita [ ndsr the E6ge
Ac- sas.. c0roDrz-1gus are permitted
IN handle trade acceprz1ces D- pErrr-
asess agreements = -ne Ex-En- Of len
zines tine pEid II eapiral winch would
euaesse the cur-snrz1lun I'd dea1 n sacn
commodity obligations II upwards OF
ssh goa SOC This amount speakers
declared should De su-hc7sn- n meet
demands az the south
Although specific mention was
aSnided. speakers inzirzfsd ttlar es-
establishment Of the corpurz1ian would
mean an ez-'y opening uf sales negc-
rsarluns Win EurapeHn rnEnufac1ur-
e-s, usao were sald 70 he n the mar
ke- f.sr around -taree million naass af
cur-ur-
The national bankers elected ON
ce-s zpdny. choosing Il Z Ackee.
president of the Narzona. CaDItal
Bank. Washington . C. as pr=ss-
DENT jam G. Lnns6zle- president 81
ne NaaunnI Bank uf Commerce n.
LuuH. vIce president ana Waldo
president of me National
Exchange Bank Of Baarmore. chair
man Of the Execur1ue Cummit-ae