The log cabin Democrat., 1921-02-21
BANKER DEPLORES
 FAILURE AT PEACE
Continued from page n

ourselves. our fellows and God. The sooner we do it, the sooner business will be restored. Bankers have an un- equalled opportunity to develop an un- selfish service to their clientele, and to the world generally and it becomes our pleasure and our duty to raise high ideals of honesty and integrity. appreciate this opportunity to talk to members of the Arkansas Bankers Association. Let us get our hearts rights and then undertake the task which is ours"
 Mir. Mcclure announced that George ". Rogers of Little Rock, former president of the association, was i'll and unable to attend the meeting. On motion of H. L. Remmel, the group sent telegram of sympathy. Tom Davis of the Bank of Conway was in- troduced and detailed the arrange ments for the day. MT. Mcclure an- nouneed the appointment of Lloyd Rainwater of Morrilton, J. L. Woosley of Carlisle and George B. Cox of Nal vern as the nominating committee. He also appointed J. A. Welty of De Vall's Bluff, G. c. Harrison of Little Rock and J. L. Park of Atkins as resolutions committee, both under in- structions to report before final ad- journment.
 Financial conditions with particu- lar reference to credits were discuss ed by w. T. Maxwell, state bank con- missioner, whose address was en- Enthusiastically received. F. Lee Major. assistant commissioner, also spoke on the work of the state banking depart ment
 Moorhead Wright, president of the Union X Mercantile Trust Company and director of the Federal Interna- tional Banking Company, responded to Mir. McClure's call for detailed state ment of the work of that body. Mr. Wright said that the company has a fully paid in capital of $7,000,000 and is now ready to begin operations. "One of our first shipments,' Mr. Wright said, was to Czecho- -Slovakia. It was of 15,0G0 bales of cotton, . part of them from Arkansas. We arc now handling big shipment of Tex as cotton to Poland. The importance of this corporation to Arkansas can be realized when we remember that one-half of the states agricultural production is dependent upon foreig.l trade. The business of the company will be to seek out new avenues of safe trade and to reach those places not ordinarily reached by foreign banking and trading. We know that France, England and Belgium are about ready for business, but the Near East and Russia are worse than inac- tive. Right now, the company is work ing to dispose of some of the hold over before the new crop reaches the mar ket. My observation of world markets for cotton has convinced as nothing else has, of the need for cotton acreage reduction. Re-adjustment will be slow and we must supply our part of the relief-a smaller crop-at home."
 MT. Hicks spoke first in the general discussion of finances. He praised the federal reserve system and the state bank department for their work r. Hicks was optimistic in regord to i'm provement. Our morals and our faith are good" Mir. Hicks declared. Tt is merely that every fellow is hold- Ing back, natural move to avoid loss. The army did cause some loss of morals, but it can be corrected and 1t is up to the older genration to cor rect it.'
 The list of visitors who registered this morning was as follows:
 D. B. Henry, Peoples Exchange Bank. Russellville; George s. Neal, Bank of Russellville; J. M. Sadler, Bankers Trust Company, Little Rock; G. c. Harrison, Union & Mercantile Trust Company, Little Rock; R. L.. Buffalo, Bank of England, England; 1; J. D. Covey, American Bank & Trust Company, Little Rock; J. J. Scrog- gins, First National Bank, Morrilton; II. L. Remmel, Bankers Trust Com- pany, Little Rock; J. M. Barker, Bank of Atkins, Atkins; L. B. Mcclure, RussellVille; R. W. Rightsell, Amer lcan Bank X Trust Company, Little Rock; W. M. Steed, Farmers & Mer- chants National Bank, Benton; H. A. Bridges, Boatmen's Bank, St. Louis; F. c. Redwine, Little Rock; J. C. Da- GUS, Little Rock; J. L. Mullins, Gle burne County Bank, Heber Springs; J. c. Clark, Faulkner County Bank & Trust Company, Conway; L. c. De- sorby, National Stoclyards Bank. St. Louis; Oliver Phillips, state bank ex- aminer, Little Rock; J. L. Woosley, Carlisle; J. E. Little, Faulkner Coun- ty Bank X Trust Company, Conway; k. J. Rice, Twin City Bank, North Little Rock; E. M. Harrison, Ex- change National Bank, Little Rock; A. N. Falls, Farmers State Bank, Russellville; Hogan Shive, Bank of Cabot, Cabot; o. H. McCol1um, Mer- o,,tc px Nc .1