Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1922-09-24
CHARLES WHITE:
STATE BANKERS
ASSOC|A TON 5
NEW president
AIbuquerquean Is Elected
at Annual Meeting of the
Organization at Las Ve-
gas,
PLANS MADE FOR A
FEDERAL STOCK BANK
Jerre Haggard Of This City
Named Vice President
Trust Company Section
National Association,

Las Vegas, n. NJ, Sept. %
c s. White of Albuquerque was
unanimously elected president OF
the New Mexico Bankers assoc
alton at it's closing session mere
today. Routine business occuple1
the greater part of the morning
session Reports We're received
from the resolutions auditing
and nominating committees. The
outstanding feature of the COM
mittee reports was the unquah-
fled endorsement of the action
of President Harding in vetoins
the bonus bill.
Form Stock Bank.
An important movement Tor
the relief of the farmer ana
stockman in the present finan-
cial striugency was launched this
morning by the appointment oil
q committee for the organization
Of a Joint stock federal land bank.
Issuance of bonds to fifteen times
the amount of stock subscribed
is authorized by the federal act.
Proceeds from the sale of such
bonds will be loaned to the
stockmen and farmers for 20
year periods at the rate of six
per cent per annum.
W. II. Morley, Magdalena;
Levi A. Hughes, Santa Fe; w.
d, Murray, Silver City; Charles
Springer. Cimarron, and r. f..
Farley, Estancia, comprise the
organization committee which
will proceed Immediately with
plans for the new institution. a
new measure requiring the
recording Of partido contracts
was reported by Mr.. Seligman of
Santa Fe as being on the lcgis-
lative program of the associa-
tion. The Importance of this
measure has been emphasized, he
said, by the refusal of eastern
banks TO extend any further
credit on New Mexico livestock
until such q law is passed.
OF great interest to public en-
ployes is tho proposed measure
prohibiting the issuance of war
rants against depleted public
funds in violation OF law and
allowing the holding of such
warrants for redress from the
bond OF the offending official.
Tho afternoon session was
opened with the election of Of
ficers to the New Mexico section
of tho American Bankers asso-
citation, all ballots being cast
without a dissenting vote. Those
elected we're c. w. Harrison.
Clovis, state vice president; Sam
l, .
committee chairman; j. W. Har-'
ris, Las Vegas, alternate; Jcrre
Uaggard, Albuquerque, vice pres
ident trust company section A.
"A. Gerdeman, Las Vegas, vice
president savings bank section;
II. b. Jones, Tucumcari, vice.
president national bank section;
II. l.. BOYD. Mills, vice president
state bank division.
Officers of the New Mexico
Bankers association We're then
elected as follows; President c.
S. White, Albuquerque vice
president T. II. Rixey, Clayton:
secretary, 4. l.. Ormsbeef Santa
Fo; treasurer, W. ~. Losey.
Hagcrman.
c. S. White was appointed ia
represent the association at the
insurance department meeting in
Albuquerque in October. Senator
a. A. Jones made an instructive
address on ''our international
balance sheet" w. c. Weiss of
the El Paso branch OF the Fed
cral reserve bank deplored the
tendency of bankers to accept
moral responsibility in place of
good old fashioned collateral in
making loans. The BANKRUPT, he
said, too often has his way paved
by too much credit. Too manyI
banks adopt the zone man"
policy and tend to consider their
obligation to depositors and
stockholders as secondary to the
borrower. Banks should be
clean, he stated. confining their
activities to good sound com |
banking. Pawn brokers
and spectators have no place
there.
c. S. White, who was elected
yesterday president of the New
MEXICO Bankers association al
IT'S meeting at Las Vegas. was
porn in albuquerque and grew
TO manhood here. He was EN-
ployed by the Santa Fe railway
as a stenographer for five Years. /
His first banking experience was
with the Bank of Commerce in
this city in 1908. At the time
OF the consolidation of this bank !
with the First National bank. !
IN i9l2, he became assistant
cashier OF the enlarged institu- |
tion.
ne was manager of the First
Bank and Trust company |
tor a period of three years, and !
at present is vice president and
nf 'N