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Commercial
June 17, 1897
The Morning News
Savannah, Chatham County, Georgia
What is this article about?
The Georgia Bankers' Association convened in Warm Springs, Ga., on June 16, with 80 members present. They discussed a legislative committee report by J. A. McCord proposing a new banking law with safeguards like penalties for receiving deposits in insolvent banks and enhanced bank examiner authority. The resolution was tabled for the next meeting at Tybee Island. Minor resolutions included removing finances from politics and appointing a committee on the money question. Bankers noted borrowing trends and expected prosperity post-Congress.
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BANKERS OF THE STATE.
Change in the State Laws Suggested by the Association.
Warm Springs, Ga., June 16.—The Georgia Bankers' Association convened here to-day. Eighty members answered to their names. During the morning meeting several resolutions were brought up. The most important of these was the report of the chairman of the legislative committee, J. A. McCord, of Atlanta. This committee suggests a new banking law, calculated to throw greater safeguard around the banking business in the state, the depositor and the stockholders. It suggests that a fine of $5,000, or not less than one year in the penitentiary, be the penalty for receiving deposits in an insolvent bank. It proposes to improve on the present order of the bank examiner, giving the state officers more authority. The resolution has been tabled until the next meeting, which will be held at Tybee Island. Many minor resolutions have been adopted, one to eliminate finances from politics and suggesting that a committee of financiers be appointed to decide the money question. The bankers say that lots of money is being borrowed, and that after the adjournment of congress the promises of prosperity will come.
Change in the State Laws Suggested by the Association.
Warm Springs, Ga., June 16.—The Georgia Bankers' Association convened here to-day. Eighty members answered to their names. During the morning meeting several resolutions were brought up. The most important of these was the report of the chairman of the legislative committee, J. A. McCord, of Atlanta. This committee suggests a new banking law, calculated to throw greater safeguard around the banking business in the state, the depositor and the stockholders. It suggests that a fine of $5,000, or not less than one year in the penitentiary, be the penalty for receiving deposits in an insolvent bank. It proposes to improve on the present order of the bank examiner, giving the state officers more authority. The resolution has been tabled until the next meeting, which will be held at Tybee Island. Many minor resolutions have been adopted, one to eliminate finances from politics and suggesting that a committee of financiers be appointed to decide the money question. The bankers say that lots of money is being borrowed, and that after the adjournment of congress the promises of prosperity will come.
What sub-type of article is it?
Banking
Policy
What keywords are associated?
Georgia Bankers Association
Banking Law Proposal
State Safeguards
Insolvent Bank Penalties
Warm Springs Meeting
Tybee Island
Money Question
What entities or persons were involved?
Georgia Bankers' Association
J. A. Mccord
Atlanta
Where did it happen?
Warm Springs, Ga.
Commercial Details
Location
Warm Springs, Ga.
Event Date
June 16
Key Figures
Georgia Bankers' Association
J. A. Mccord
Atlanta
Notable Details
Fine Of $5,000 Or Not Less Than One Year In The Penitentiary For Receiving Deposits In An Insolvent Bank
Improve Authority Of Bank Examiner
Resolution Tabled Until Next Meeting At Tybee Island
Eliminate Finances From Politics
Committee Of Financiers To Decide The Money Question
Lots Of Money Is Being Borrowed
Promises Of Prosperity After Adjournment Of Congress