Every evening, Wilmington daily commercial., 1921-09-02
WILLIAM G. TAYLOR
CHOSEN PRESIDENT
OF STATE BANKERS
Live Topics Discussed at the
Annual Convention in
Rehoboth.
LEE TELLS OF RAILROADS
STAFF Correspondence of Every Evening.

STAFF Correspondence of Every Evening
Rehoboth Beach, Sept. 2.
William c. Taylor, vice-president OF
the Delaware Trust Co. and a former
mayor of Wilmington, has been cleo
ted president of the Delaware State
Bankers Association. The election
was held last night at the closing ses-
sion of the annual convention. in the
Belhaven Hotel.
A banquet, which preceded the cleo
ton. was featured hy addresses 10y
prominent men, including Elisha Lee.
vice-president of the Pennsylvania
Railroad.
for the ensuing year were elected as
follows:
yice-president George Thomas
Reed, cashier of Milford Trust Com
pany. Milford.
Secretary and treasurer Halde-
man C Stout. vice-president of the
Industrial Trust Company. Whining
ton.
Chairman of executive committee
Richard Reese Of Wilmington. vice.
president of the Equitable Trust Conn
pany.
Bankers Helped In War.
Had 1t not been for the bankers or
Sanitation during the World War.
George NJ. Jones. president. stated in
his annual report, Delaware would
not have taken the high stand il did
in the various Liberty loans. Red
Cross and other drives. for the banks
co-operated very materially and ef-
fectively in them.
The problems that confronted the
banks during the past year and those
TO be solved in the coming year. Mr..
Jones said, are in the main individual
and must be met and solved by the
management of the local banks and
cannot be met by any ironclad rule
Of cooperation. for the conditions
which enable one bank to meet its
requirements may not be available to
another bank facing a similar problem.
and the solution by the other bank Of
its difficulty may be just as well and
economically done. He thought banks
which took Victory and third Liberty
loan bonds should hold them until
maturity.
One Of the most serious problems
&C nfrontinC almost every hank. Mr.
Jones stated. is the depreciation OF
corporate securities In his opinion
the hanks which have charged OF a
part or all Of this depreciation with
cut disposing of the securities, will
soon recover the depreciation and
have a neat sum TO bring back TO their
active book assets. Another serious
menace TO banking is increa sed tax
alton, ne said. From the present out
look the Federal income tax and the
Federal and State franchise taxes for
1922 will entail a charge on the banks
of two per cent on the capital stock.
MIR Jones stated the greatest men
ace 70 the prosperity of the banks is
the widespread agricultural and in
dustrial depression, which he believed
has passed its most acute stage and
from now on will become less until
we reach a wonderful, and he hoped,
an unprecedented condition, of pros
perity. While a great deal of this
hoped for change is dependent upon
the safe and sane governmental legis-
lation of the near future, he said. yet
no small part in bringing this about
must be taken by the banks If these
institutions will uphold the hands of
corporations of their communities by
not demanding payment of loans al
ready made and by granting of timely
and necessary additional credit, this
viii not only help the borrowers, but
act as stimulus TO the community.
But if the banks require of their bor-
Towers the impossible, and thus
break down the earning power Of the
individual or corporation struggling
for existence. they will further en-
danger the industrial fabric of the
community and bring about worse and
more far-reaching results than here
tofore. and in thus acting they can
60 so not only from patriotic mo-
tive but a selfish one as well, fo- the
prosperity of the banks depends large
~ on the prosperity of the community,
and acute depression in any locality
viii greatly and unfayorably affect
its financial institutions
If there is one thing more than
another that I would like you men
who manage the banks OF Delaware
TO take home from this convention.
Continued on page IL