Evening star., 1924-10-01
v. F. KNOX CHOSEN
TO HEAD BANKERS
New A. B. A. Executive Is
President of BoWery Saw
ings, New York.
I,y the Associated Press.

fy the Associated Press.
CHICAGO, October 1.-William f.
Knox, president of the Bowery Saw
ings Bank of New York City, today
was unanimously elected president
of the American Bankers Associa-
lion. Oscar Wells of Birmingham,
Ala, was chosen first vice president.
Melvin A. Traylor, president of the
First Trust and Savings Bank of
Chicago, was elected second vice
president. Mr.. Wells has been sec
md vice president for the last year,
7he association automatically advanc-
ing its chief executive officers.
Arthur Reynolds. president Of the
Continental and Commercial National
Gank of Chicago, assailed political
;,dventurers who know what banking
should be without knowing what
banking is
"A typical proposal" he said. from
t+r<5e medicine men is that the Fed
oral Reserve banks make loans to
farmers direct. The proposal carries
the implication that there has been
discrimination against the farmer.
Hits at Proposal.
strip the proposal Of its senti-
n"ntaljsn and innuendoes. Take q
look at its bare bones. That will
surprise 10 one except the medicine
men. They propose that we get into
our reserves and substitute farmers
promises t. pay. The amendment they
propose should be entitled u bill to
destroy the Federal Reserve system,
ar. better, 4 design for banking from
Russia"
Mr.. Knox, who succeeds Walter w.
Head of Omaha. Neb.. was born in
Strabane, Ireland. i'll 1862. He came
to the United States with his parents
ut the age of nine. and was educat ed
in the public schools of New York
city. At 10 he started work in a
publishing house as an office boy. He
became a junior clerk in the Bowery
Savings 2ank in 1885, and during So
ears With that institution has had
experience in every position in the
bank. attributing his success to his
implication to all details of the bust
LESS. His bank, established 80 years
ago. now has resources of more than
S25p.000, 900. Mr.. Knox has establish
nd departments in his bank especial
1N to help immigrants. and believes
that a sure cure for radicalism and
dlscontcnt is II savings account. TO
JComotc Il sense of security and own
erkhip.
La Toilette Is scored.
The political views of Robert La Fol-
iette. INDEPENDENT candidate for Prest-
dent were attacked at today's session
OF the bankers convention.
Previous sessions had confined
themselves to condemnation Of the
principal planks in the platform OF
the Independent candidate, whose
: name was not mentioned, but today
lie was specifically named as the
Nations chief liability in an address
prepared Tor delivery by John l..
Ldgerton. president of the National
Association of Manufacturers.
Mr.. Edgertou declared the ele-
ments of distrust and suspicion.
prejudice and hatred, discomfort and
Vengeance have been multiplied and
are being brought together in dan
;-erous power by an enterprising ge-
MUS from Wisconsin, who is never
happy except when conspicuous as
either a dcStructioniSt or obstruc-
ZIONIST"
Called arch Demaeogue."
Except for the human element of
responsiveness of the egotis1ic to the
appeal of the deIna gogue. he declared,
that arch demagogue, La Toilette.
and all other demagogueS
would be compelled to find some use
full employment for their misapplied
talents
If there is anything against which
the citizenry of our country should
hurl its resistance" he continued 1t
is the impudently recurring attempts
of Charlatans in various disguises to
weaken the arm Of our courts by cum
ningly devised statutes and amend
ments to the Constitution. 1t has be
come u fad, or rather Il disease, to
amend our CONSTITUTIONS and by