Milford chronicle., 1922-09-15
DELAWARE BANKERS
MEET AT REHOBOTH.
ASSOCIATION ADOPTED A RESOLUTION
TO PROTECT PUBLIC AGAINST SALES
men SELLING SECURITIES.
GEORGE 7. REED, PRESIDENT
COAL SITUATION WAS DISCUSSED AND
GREATER CREDITS URGED---BANQUET
The CROWNING FEATURE.

The bankers of Delaware, at their
summer meeting held at Rehoboth last
week, was largely attended and many
topics discussed.
In an effort to rid Delaware of
fake" stock organizations and kim
dred "get-rich-quick" schemes, who
in recent months have made daring
headway in raids on citizens savings.
the State Bankers Association, in con-
vention at RehOboth, adopted a reso-
luton designed to protect the public
and thwart illegitimate security" So
licitors.
The resolution provides that signs
and posters be placed in corridors of
banks and along public highways
urging depositOrs to consult bankers
with whom they are doing business
before indulging in questionable in
vestments. In this connection a
lengthy discussion ensued over the in
genious methods practiced by wild
cat" agents.
Consider New Laws
After much consideration over the
advisability of calling upon the Leg
islature to enact a law against fraud
ulent 'stock" statesmen and invest
ment concerns, the meeting decided to
refer the matter for further study and
final action to the associations execu-
tive committee. The committee to
give the problem early deliberation.
Hearty support was pledged the
board of trustees of the University of
Delaware in its plans for enlarging |
the institutions library. The formal
resolution was passed requiring bus
mess men desiring to join the asso-
citation to obtain recommendations |
from at least three reputable bankers.
Prospective members have been in |
the banking business at least one .
year.
An elaborate banquet, served at the
Henlopen Hotel, was attended by
more than $50 prominent business
men, was the crowning feature of the
conference.
Discusses Coal Situation
In an optimistic discourse on the
coal situation, Noah H. SWayne, End,
If Philadelphia, declared the State of
Delaware must learn to utilize the
benefits of soft coal. The bituminOus
product is just as profitable in its re-
suits, Mr.. Swayne said, if properly
handled. There is plenty of soft coal
and there is no apprehension
S to conditions this winter, the
peaker declared. Conditions in an !
racite fields are not nearly as bad as
ave been reported, he asserted. }
Howard o. Wolfe, of Philadelphia, -,
ave a short talk on the necessity of :
between farmer and :
anker. He advocated an educational =
ystem that would prove helpful to =
lrmer and the general public. q
Urges Greater Credit i
Hunter S. Marston, of New York, 4
)uched on trade conditions, asserting Il
nat the United States will find itself a
holly unable to compete with Eu- G
)pe in Latin-American countries un- fl
ss the nations bankers extend long a
: credit terms than has been the GUS
IN. South American countries need 7
reater credit and under better con- I
tions, and unless this is offered Eu-
,pe stands in favorable position to
lpture trade that is well within our
ZACH, he pointed out.
The annual election of officers was
lid, at which the following were d,
losen: George T. Reed, of Milford, re
Robert P. Robinson, of Will te
ington, vice-president, and Halde- tt
an c. Stout, of Wilmington, secre- p-
ry-treasurer. fl
In the afternoon Grosvenor Dave pl
oke in behalf of the Association of al
ailway Executives, as railroad Off te
ais themselves are unable to attend re
y public meetings at present owing n;
the shopmen's strike. His subject tb
Us "The Railroads and the Public" th