Little Falls herald. [volume] (Little Falls, Morrison County, Minn.) 1889-1950, 1922-06-02
BANKER O.
DIST MET HERE
ANNUAL MEETING ATTENDED, BY
r. rs FINANCIERS- w. LEIGH
CARY NEW PRESIDENT

W. Leigh Cary. vice-presidentI Of the
Merchants State bank of St. Cloud,
was elected president of the Sixth Dis
trict Group, Minnesota State Bankers
Association, at the annual meeting
held in Little Falls. last Friday. Mr..
Cary is well known in Little Falls as
he was raised and educated here. He:
is the son of Mrs. N. E. Cary. Other
Verndalc, Vice-president and o. RI.
Kobe of Swanville, secretary treasur-
er. q - .:.'..
The bankers meeting was a very
seventy-tive bankers of the district
were present The business sessions
We're held in the Elks hall. beginnlns
at 1920 30 in the g %y wtn ia
president of the American National
bank of this city. VIM. Rodman of
Eagle Bend responded. J.. }. fo tSo
ford Of Watertown, president OF I Sns
state association, extended greetings
from that organization. -,
G. G. CLICK OF Duluth save an IN a.
teresting talk on the Great Lakes-st
Lawrence tidewatef ,d pf for ncean ~ Ves-
sells to go to Duluth. He said that by
making the St. Lawrence and the
Great Lakes navigable by ocean noats
it would be possible to effect saving
Of 5 cents a. bushel on wheat ship
ments from the Northwest.
The Little Falls Juvenile oand play
ed several selections at the morning
session They made big hit with the
Visiting bankers.
In tie afternoon r. p. Fellows of the
Capital Trust & Savings Bank OF o..
Paul spoke on THE Revision ana Coal-
fication of the Banking Laws OF MIN,
nesota.'' He told of legislation secured
by the association committee at the
last session and of proposed leglsla-
,,n including county clearinghouse
for banks; requiring monthly meetings
,fI
capital Of state banks; requiring thc
increasing of the bank capital as de-
posts increase. He urged the bankers
to support these proposed measures.
G. H. Richards, Secretary of the state
bankers association, gave talh on
Taxation Of Shares of National
Banks" He maintained that the lana
ton OF bank stock is entirely out Oh
proportion to taxation on merchandise
stocks, etc, and he urged that the
b bankers work for legislation to fene-
dy this situation.
r. t. Rathbun, state superintendent
Of banks, spoke on the duties OF BANK
directors He said that it is important
that bank directors meet at least once
each month and make thorousmt e.
animation Of the institutions attalrs
A sufficient salary should be PAID al
rectors to enable them to leave othel
duties to attend directors meetings
They are responsible for the condltlol
81 the banks and courts have helc
Them responsible for bank failures.
Hon. j. F. kramer. former federal
pruhjbition enforcement commissioner
Il. Who spoke at the Congregations
church on the prohibition question
Friday evening, gave short talk al
the bankers meeting In the AFTERNOON
in which he touched upon the light
zenith Amendment and it's provisions
the duty Of the citizens to the PROM
bition laws, etc.
= ". Leigh Cary of St. Cloud led {
round-table discussion of bank ques
tions, the various bankers taking part
The convention closed with pan
Duet at the buchanan hotel at 5:3o
afternoon to enable the employees u
attend the meeting.
The following resolutions Wer'
passed at the meeting:
Whereas the great northwest an(
middle states and especially the agfl
cultural districts are in great need O
cheaper transportation facilities, be
resolved that we hereby end0rse IN
Great LakeS-St. Lawrence IldeWatel
Project and instruct the secretary tt
write, asking our senators and repre-
sentatiyes at Washington to take al
active part in speeding this project
the next session Of congress.
BE it further resolved that we as
body endorse and recommend the re
Vival and cOdi1icatlOn OF Mlnnesots
That we extend our thanks to tn
parties on the program III TINS session
especially j. j. POnSfOrd, u. G. CLICK
f. F. Fellows, r. =. Rathbun md {
H. Richards
Be it further resolved that we eX
tend our thanks to the citizens an
,pitality and the Little Falls band TO
a nment