Evening star., 1922-10-05
HOOvER'S ILLNESS
PREVENTS ADDRESS
Secretary Was to Have
Spoken at Convention of
Bankers Today.
BRANCH BANKS OPPOSED
Association Goes on Record Against
Establishment of New
Offices.
BRANCH BANKS OPPOSED

was to have addressed the annual
convention of the American Bankers
Association today, was unable to do
so on account OF illness. it was an
rounced by President Thomas b. Me-
Adams of the association. Mr.. Nc
Adams said he had received a letter
from Mr.. Hoover this morning ex-
pressing his keen regret that he
would be unable to appear. Mr.. Nc
Adams said he did not know the ma
ture of Mr.. Hoover's illness.
Branch Ranking Opposed.
Gov Allen of Kansas today address
ed the third and last general session
of the American Bankers Associa-
lion convention. defending the
Kansas Industrial relations court and
pra siEg the federal reserve system.
With its court, he declared. Kansas
during the coal strike produced so
per cent of its normal output. This.
he said. helped the state not only
to meet its own needs, but to export
fuel
At the same time. he continued. the
court through negotiations with
operators kept the price o. coal 90
cents below what it otherwise would
have been.
Railroad strike COstI..
1T is utterly absurd" he SAID. TO
declare thai the government may pass
upon the property and the liberty
and the lif. of the citizen, but thai
il cannot tird justice for him in The
matter of wag ges and working "ohd!-
tionS if he is engaged i'll an industry
upon which I: { public welfare Is de
pendent.
The recent ra abroad strike. he a>se: /, ii.
r1,I f.,,1 al I,,Hil
on the Pacific ,-,ast $4,000. .bGG accord
ing TO estimates of con!niervtat ur2,tH-
izatons and 'far paid secretaries -.
labor were drawing more than S6e.oo"-
6oo d year in Sd aries and expenses.
Il contend. fe said. that II - The
duty of government to provide justice
TO the men Cho labor al a smaller c"st
10 them and ~ their industries than
now is paid to carry on an Intellectual
war. which punished the publ and does
not help the lahorers.
Gov. Allen expressed regret that
the government could not int 3o.nc
stabliZing influence for industry As
powerful as the federal reserve system
is in the financial field. II was his o1-
servation however, he said. t;ItJ gov
ernment was driven by the san... power
the automobile englne-eXI tosio.--
and that the financial explosion CT laG,
had momentum in It.
No man can study the operation Of
81.
without realizing that X has fun,t ,tir.led
to the great benefit OF every department
of activity and that it Stands today as
the most dependable financial entity
undnr government control"
The Bankers Association went on
record yesterday by vote of ap-
proximately 3 to l as being opposed
to branch banking or the establish
ment of branch offices by both state
ard national banks in any form.
After the passage of resolution
expressing this opposition, steps were
taken by bankers from Missouri
Illinois. Wisconsin, New Jersey and
Connecticut to form an association of
national and state banks and trust
companies opposed to branch banking
passage of federal statute prohibit
Ing national banks from having
branches or more than one Office in
any state. Murray Mcleod. vice presi-
dent of the Irving Park National
Bank. Chicago. was elected chairman
composed of three delegates from
each of the forty-eight bankers as
sociations will meet in Chicago soon.
II was announced, to plan a national
campaign.
Messages from President Harding
and Secretary of the Treasury Andrew
w. Mellon were read by President
Thomas b. McAdams. In his letter to
the bankers Secretary Mellon wrote
that a foundation for an early and
healthful revival of business had been
established through the response of
the bankers to the Treasury offerings
of the short term notes issued during
tho past eighteen months to retire
victory notes and other early matur-
ing obligations.
President Harding's message was a
plea to the bankers that they lead
IN recommitting our people to sane
expenditures, to ways of economy and
thrift to the consideration of NUM-
cipal and national problems in that
conscience which builds the temple Of
confidence
Milwaukee Man President.
In the election Of officers John H.
Puelicher Of Milwaukee was chosen
president; Walter W. Head of Omaha.
w. Knox, second vice president.
The resolution opposing the es-
tablishment of branch banks was
placed before the convention by
Samuel B. Jefferies, vice president Of
the National City Bank of ST. Louis
Waldo Newcomer, president Of the
National Exchange Bank of Baltimore,
led the opposition. An attempt by the
anti-branch forces later to have the
resolution adopted by the national bank
division failed.
Frank A. Munsey addressed the
convention on the problems of the
hour. and said that the operations of
the republican and democratic parties
-.