New-York tribune., 1922-10-03
Delegates to Convention
Find Time to Study
the Methods of Great
New York Institutions
lamont to Extend
Welcome To-day
Partial Cut in Foreign
Debt Urged by Head of
Mechanics & MetalsBank

Wall Street formally welcomed yes
,srdav the s,4s7 bankers here to at
tend the annual convention of the
American Bankers Association, which
/, ;,s preliminary stage developed q
vide range Of interest and activity,
nsds possible by meeting at the
financial center Of the nation. In va
rious hotel and clubrooms the machin-
cry Of the convention went forward,
smoothly for the most part but with
some promise Of friction later, as the
aslegates settled to their task, but
business for the day was secondary TO
the investigation and study of banking
and fiscal methods as presented in New
York.
The great banking institutions of the
Street threw open their doors to the
out-of-town visitors, and those who
we're not occupied with committee
meetings or sectional discussions took
full advantage of the opportunity Of
fered. The main event outside Of the
convention center was the inspection
Of the Stock Exchange, where it was
possible to observe the trading from
the galleries or to roam at will through
the otfces contributing to support the
security market about which so much
Of the financial world revolves.
Reginald Mckenna Entertained
An incident was the reception by
seymour Cromwell, president of the
Stock Exchange, of the Right Honor
able Reginald McKenna, chairman OF
the London Joint City and Midland
Bank and former Chancellor of the Ex-
chequer Of Great Britain, who was sub
sequently conducted to the floor. an
honor rarely conferred upon visitors.
Mr. Mekenna was accompanied by
Thomas B. McAdams, president of tho
American Bankers Association. and
seward Prosser, president of the Bank-
ers Trust Company. He was the guest
OF Walter E. Frew, Mr.. Prosser AMI
some of the older governors of tho
sxchange at the luncheon club, where n
eanet luncheon was served to som.
1890 bankers. 'oiA'
ihe 'lsle downtown was a new ex-
penehce tor some out t-of- town bankers
Ms @ y also enabled the renewal of old
,slstlonshlps with local financiers hv
.say olhefs. Its value lay in consid-
t .IaNe aegree IN the chance for ex-
tt,ssaghg viewpoints and for checking
.aga'hation .ag on financial, industrial
tss, ng agrcultural conditions. The
Saas, Saaasi, lor example. who engages in
,,ss ,,sasAsing cotton OH a small scale had
s opportunity to meet the banker
Savss ;,.s operations in this industry mount
'h@ the tens of millions.
branch Banking an Issue
lae activity at convention headouar-
t.ss t.,s was proof sufficient that not ali the
=. ssaaefs could take the time necessary
-. y. tne trip to Wall Street. Commit.
,or+, ,meetlhgs were in order all day.
soasig son'iihulng until the executive council
essHh ssaf crossed the program. starting at
IN y'iock IN the evening, and there was
~. FL attenaance at the session of the
Sa.ahg snS ~ House section in the morning
d;v;s;e ~ ene meeting of the state bank
u'Vislon In the afternoon.
narart ehe :. Gay wore on it became sp-
s;uns s;stn ehat three questions loom as
flow io,ng factors before the conven-
Of tho.o eliminates. The most important
alreadS Una. mat Of branch banking, had
Sunaay @ppeared as a storm center on
srs, hs @nen the Cook County RAM
tsst T9Ge:laelon T': held a meetinr of mo
nm foIi ms faction continued +o hniId
IN P tba a0lowing and won its 6rst ~ yictoru cuu
d;v;sis ;me convention when the =, a+a banI
lion Un o, unanimo~ Sly passed a resoIn.
banLi opposing tne extension of bronoh
nsara Dsnhng in this country II 01 now upanrn
thororothLitIaln th otLtaln that the problem will be
meat;nss mt;sh.y thrashed out at.the cenar.l
cient intng as,. tomorrow, and there is u su@
sure battle. SA'N banking to in
IT, Seek Collection Charges
vhes eS status has of par collection of checks
sybascses sbs under the impetus % snrG;aI genera
h. ms FEDERAL Reserve system "pp,,sa p a1sa 9S
Gre nsta: ins;asM Many of the smaller banks
Inn innoaas tnslstent that they be allowed dnto te
sapose ssas collection charge. Ita sn;r;t av; "
M. M IN the discussion Of the a,as pa,ort ~, ~
clsibarsse O. Isase bank division by Charles de B' f
'a exchange. ''e committee
h,i ane contention of your comm;.+oo
r1s;le Tsa been for several years. ''e.he said Me-
Saaioorne, that the purpose Of tho he
ssoeral Reserve banks and board. 'ne ne
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