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Show MCI BANKERS FOR PREPAREDNESS Association in Convention at Seattle Adopts Resolution Resolu-tion of C. A. Pugsley. ONE NEGATIVE VOTE Trust Company Section Is Overridden on Question of Legislation. 8EATTLE, Wash., Sept. H. The American Bankers' association today adopted a resolution offered from the floor of the convention by former Congressman Con-gressman Cornelius A. Pugtley of Pockakill, N. V., strongly approving and pledging support to the several state go e.rninenis, as well as to the national government in all efforts to secure, prae ! tienl prepnredness along the lines of ' national defense. Ono negative vote i was cast. Uespitc the objection of the trust 1 company section, an amendment to the 1 constitution providing that no proposed national or state legislation should be 1 urged by any section of the association 1 without the approval of the law committee commit-tee and of the association as a whole was passed. The trust company section regarded I he amendment as a move to hamper its members in an effort to have repealed that section of the federal reserve re-serve act which confers on national banks trust company powers. I Kansas City Next Year. It appears to be assured that Kaqsa (,'ity will get the convention. leve-land, leve-land, which had been spoken of as a 'ompetitor, is seeking the 1917 convention. conven-tion. Th committee on nominations recommended recom-mended that .Tames K. Lvnch, n resident of the First National bank of San Francisco, Fran-cisco, he elected president; P. W. Goe bel of Kansas City defeated Sol Wexlef of New Orleans for vice president in the committee by a vote of 29 to 15. Seeking Amendment. The cou en t ion adopted a resolution, approved by the administrative counsel, that an attempt be made to procure an amendment tn section 19 of the federal reserve act so a to give member hanks not in federal reserve or central reserve 'ities the option of keeping 4 per cent of their reserve with any national hank in any reserve or central ..reserve city in the tnitcd States, or within a radius of 300 miles of the member bank, or within the federal reserve district, in addition to the option the member bank now has of keeping such I per cent in its own vaults or in the federal reserve bank. Another resolution was adopted on recommendation of the committee ou j law. ad1 using amendment of section o2r9 of the revised statutes, so that where taxes are imposed upon the income in-come of personal property the income derived from national hank shares mav be included in the income of the owner OT holder thereof in assepsing such taxes, in the city or town where the bank is located and not elsewhere. |