The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1921-05-21
LAST YEARS UNSOLD
PRODUCTION IS MOST
SERIOUS PROBLEM
Oscar Wells Slated for Presi-
dency of Alabama Bankers
Association - Discuss
River Transportation

lifVt u QflOpOi tQtiOti
Solution of the present economic
problem lies in the operation of banks
to increase. the productivity of the
communities in which they are To-
Gated, mombers of the Alabama Bank
ers' association were told yesterday by
Oscar Wells, president of the First
National bank of this city. Mr.. Wells
will be elected president of the state
organization today.
The problem of going into season
of producing with much of last years
production still unsold is a most Sc
rious and difficult one to face, Mr..
Wells stated. Development of foreign
markets is at best discouraging at
present and the situation is not helped
much in this way.
Haphazard banking conditions,
with no examinations and with
banks on n highly competitive basis
using laws unto themselves are to
blame for the present financial
condition of Cuba, Mr.. Wells said.
He is n member of commission
formed to liqufdate banks of the
republic in most practical manner.
Accumulation of frozen credits over
term of years was the chief evil, with
the sharp drop in sugar prices bring
ing the crash. The situation is being
gradually cleared. he declared.
INTERNAL DISTURBANCES
The chief trouble with Cuba is that
her people cannot govern themselves
properly, this being shown by the fact
that of four elections held, three have
been held up by internal disturbances,
Mr.. Wells told the bankers
Mexico offers wonderful possible
tiles to American capital, with her
extraordinary natural wealth, nc
cording to Lynn H. Dinkins, presi-
dent of the Interstate Trust d
Banking Co., New Orleans. The
larger percentage of American in
vestments in Mexico have been
profitable and with welfare work
among the natives will prove more
profitable still, he stated.
Honest American business has no
more promising field than Mexico, Mr..
Dlnklns declared in conclusion.
"a pcautilul DdSkeI loI Mowers was
presented to the officers of the asso-
!. citation by. Robert Jemison, Jr.. during
the session.
REPORTS MADE
The first part of the session yester-
day morning was given over to re-
ports. The agricultural and legisla
ton committees made their reports.
carried over from Thursdays session.
William S. PEBBLES, Athens, reported
Tor group No. l w. S. Nichols of Liy-
ingston, for group No. 2; C. w. Stewart
Opellka, for group No. 8, and II. j.
higgins, Monroeville for group No. A.
me public should not be denied cheap
means of freight transportation Just be-
&c use the method needs government cap
ltal and government operation for devel-
opment, Theodore H. Brent. general man.
ager OF the mississippi Warrior water
ways, declared. Mr. Brent spoke on the
subject OF Water Transportation.v TAX
ing the place of Henry T. DeBardeleben
manager of the Warrior barge line.
Economic value of the Warrior trans
portation service has already been proven
with half the equipment originally pro-
'vloed for and full operation will show the
value OF water transportation, he said.
WATER AND RAIL TARIFF
Merchants and farmers in towns all
-A-e'aiiieaJ iOI tlcTH h1SSlSSiDDl and
as far east as Atlanta, can Obtain rates
based on combination water and rail tar
IFS which will make it profitable to shin
and receive in this way
FIVE talks by members from the floor
followed, with adjournment coming at
l2;Sc o'clock. Entertainment for the aft
ernoon was provided when the bankers
Went to the baseball game at Rickwood
field.
Ine convention will close this after
noon. Election OF officers will take place
tnis morning, when the nominations COM
mittee will make its report The resolu-
items and auditing committees Will also
make their reports.
A. l., Staples of Mobile was elected
vice president for Alabama of the Amer
ican Bankers association at meeting
OF Alabama members of the national or
senlzation Yesterday afternoon.
OTHER OFFICERS ELECTED
olher officers of the national asso-
Grafton elected yesterday were Foster
hamilton, of Selma, member of nom
mating committee from Alabama: w
y. hutton, Huntsville, alternate; H. f.
COOPER Selma, vice-president trust
company division; p. o. Thomas Mon
roeville, vice president savings hank
division: D. p. Bestor. Mobile. vice.
president national bank division; w S.
ieepies, Athens, president state
bank division.
members OF the association and heir
wives We're entertained at a beauti-
fully appointed dinner at the Country
club last night. with Col T. o. Smith,
Birmingham Trust and Savings bank.
presiding. Dancing followed the ban
Duet,
Among those who responded to toasts
(sFAWfnrd T. RI I,
Oscar Wells. Haynes McFadden. Allan
ia; Val Taylor, Uniontown; d. P.
Bestor, Mobile, and Mrs. j. s. Pick
ard, Montgomery. More than 500 per-
sons attended the dinner and dance.
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