The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-18
MOBILE PORT AND.
SHOALS LINKED rs
BIGGEST ASSET is
Good Feeling Pervades Open
ing Session Of Alabama
Bankers Association
STATE CAPITAL BUREAU !
THE AGE-HERALD
Montgomery. Ala. Nav II

Alabama bankers joined in singing
the song of good feeling as soon as
the annual convention of the Ala
bama Bankers association opened
here Thursday afternoon. In his an
nual address, Clyde Hendrix, pres
dent of the association, declared that
his is period of great progress and
hat the development of the state Is
icing carried forward as never be-
nte.
Muscle Shoals and Mobile port will
mean more to the state than the
minds of man can grasp, according
y Presden. Hendrix. who said these
developments alone remain to be
made in the state.
Alabama, because of it's stores OF
"av' material. it's potential and al
ready developed hydro electric pow
or it's mild and healthful climate, its
productive soil and it's splendid trans
rcrtation facilities. Is being consid-
cred now more than at any time in
is history by manufacturers and
home seekers of the north and east
as a desirable state in which to live"
said President Hendrix in his annual
address. Our bankers, In co-opera-
ton with our Chambers OF Commerce
and other similar bodies. should give
more thought and effort toward cap
italizing these opportunities.
We must go forward with our
development work. beginning at tho
northern boundary of our great state
with the great Muscle Shoals project,
which the wealthiest man in the
world is waiting to take over and
develop to it's maximum capacity just
as soon as Congress grants him the
privilege, and on throughout the
state to TIL, port of Mobile, which we
all hope and expect to be made one
of the greatest ports in the south.
Then, with our great railway sys-
TENS, our streams opened to naviga-
ton, good system Of highways.
good schools and string of wide
awake cities and towns throughout
the state, Alabama Will begin to as
sumo it's rightful place as the leading
industrial and agricultural center Of
the south"
Optimistic Note Pervades.
Other speakers took the keynote
of the address of the president, and
throughout the first session there
were variations of the states prog
ress and of the opportunities which
now face the bankers and business
men.
NJ. L. Cory, member OF the federal
farm loan bureau at Washington.
was one of the speakers at the aft
@rnoon session. He explained the
agricultural credit acts OF 1928. In.
Guiding amendments to the federal
reserve act and the establishment OF
intermediate credit banks in the ef-
fort to improve the financial condi-
ton of the farmers Of the nation.
Mr.. Cory said the farmers were hit
hardest during the period of defla-
ton and the farmers dollar is still
worth much less than other dollars.
He urged the bankers to lay aside
any fears that the farm loan act Is
an encroachment by the government
on private business and to aid In the
movement to help the farmers. de-
claring the advancement of the farm
crs will mean the advancement OF all.
Bartlett Makes Report.
Henry T. Bartlett of Birmingham,
secretary of the assoc1a-
ton, made his annual report which
showed that the membership of the
association is the greatest in it's
history. The membership is now
composed of BAL banks and the asso-
citation has a balance in the treasury
of $500. Mr.. Bartlett complimented
the work of President Hendrix dur
ing the year.
W. c. Bowman, vice president OF
the First National bank Of Mont
gomery, delivered the address OF
welcome. He said he regarded 1t as
appropriate for him to welcome the
visitors because he had only recently
moved to Montgomery and knew or
the hospitality of the people.
Col. Tom o. Smith of Birmingham
made the reply to the address OF