The log cabin Democrat., 1921-02-22
GROUP 5 HONORS CONWAY BANKERS HARRIS, HILL GET OFFICES Endorse Relief of State Rice Men and Federal Recerve-Live Talks
 on Business.

], Accepting the recommendation of the nominating committee that Con- way bankers should be made officers of the group as a mark of apprecia- tion of the cordial hospitality extend- ed them here, bankers here for the meeting of Group Five unanimously selected Frank Farris of the Farmers State Bank as president, and V. D. Hill
 of the Faulkner County Bank & Trust
 Company as secretary-treasurer of the
 group. The selection of the Conway
 men came near the close of the final
 session Monday afternoon in the Elks
 hail before the visitors were taken
 to Central College for dinner, the fi- nal event of the day here. MT. Farris succeeds L. B. Mcclure and MT. Hill succeeds l.. R. Brown. The meeting place of the group in 1922 will be se- lected by the executive committee of the state association, but a poll of the visitors yesterday probably would have established Conway as the per manent home of the group, so great was the praise given the city for it's entertainment.
 Measures for the relief of rice growers in eastern Arkansas, who are in worse plight than cotton farmers, and discussion of general business conditions were other topics for the bankers at their final meeting. J. A. Welty of DeVall's Bluff and J., L. Woosley of Carlisle, bankers from the rice belt, answered questions in re- gard to conditions. Mir. Welty showed that while some rice growers have in- vestments of $15000 or over in ma chinery and other equipment, their product IS bringing about AT cents per bushel as compared with $3 in normal times. Production costs in some cases as high as $1.60 per bushel. Rice land is not suitable for any other crop, both bankers de- clared. Moorehead Wright, president of the Union X Mercantile Trust Com pany, offered a motion calling upon all members of the group to aid the sale of rice through merchants and in other ways. H. L. Remmel and W. A. Hicks, Little Rock bankers, spoke for the motion and Robert E. Wait, secretary of the association, declared that rice has been served at his house for the past 20 years. A bureau for rice growers, similar to the profitable farming bureau, was suggested by MT. l Wait and left to members residing in the rice belt
 l. A second resolution adopted was in approval of the federal reserve sys- tenn. A. F. Bailey, manager of the Little Rock branch, declared that lS152,000,000 was loaned by the sys tenn in Arkansas in 1920, exclusive of loans made to Arkansas banks by the Memphis and St. Louis offices. On motion of V. c. Petite of Little Rock, the group went on record as holding any criticism of the reserve system as improper. MT. Hicks declared that the system undoubtedly saved the country from a'panic.
 i A lively discussion was projected when the farm credit situation was brought up. R. L. Buffalo of England was the first speaker, being followed by J. J. Scroggins of Morrlton and Frank Farris and V. D. Hill of Con- way. J. E. Little was called by the chair to express the attitude of the land owner. He responded with an optimistic talk and also answered numerous questions propounded by Mir. Hicks, Charles C. Mccain, Mr. Buffalo and others. In this discus sion and the time devoted to the rice growers, the talk was animated and practically all members took part
 Concluding the meeting, L. B. Me Cure, the chairman, called for the representatives of the St. Louis, Chi cago and New York banks. E. C. Adams of St. Louis responded briefly for the federal reserve office, and J. C. Walker for the National Bank of Commerce, St. Louis. R. w. Rightsell of the American Bank of Commerce and Trust Company, Little Rock, sug- gested that bankers in making loans to farmers should stress the greater buying power of money.
 Mir. Mcclure paid a neat tribute to Jo Frauenthal of Conway in calling for a word from him before the group adjourned. Mr. Mcclure declared it would be entirely Inappropriate to conclude the meeting without an ex- pression from a citizen and business man so highly respected as the Con-