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Group II:
Chairman William H. Krier, Assistant Vice President,

Security Trust Company, Rochester.
Representative-Sanford Bush, Vice President, The First

National Bank of Marion, Marion.
Member at Large-John W. Remington, President, Lincoln

Rochester Trust Company, Rochester.

Group III:
Chairman-C. David Wenban, Executive Vice President

and Cashier, First National Bank of Painted Post,

Painted Post.
Representative—Ralph L. Higley, Cashier, The First Na-

tional Bank & Trust Company of Walton, Walton. Member at Large-Burr P. Cleveland, President, First Na

tional Bank of Cortland, Cortland.


as in Report

Group IV:
Chairman Daniel M. Warne, Vice President, Oneida Val-

ley National Bank of Oneida, Hamilton.
Representative-W. Niver Wynkoop, Executive Vice Presi-

dent, First Trust and Deposit Company, Syracuse. Member at Large-A. B. Merrill, President, First Trust and

Deposit Company, Syracuse.

Group V:
Chairman S. Beach Parker, Vice President, Union Na-

tional Bank of Troy, Troy.
RepresentativeMark H. Peet, Vice President and Trust

Officer, Glens Falls National Bank and Trust Company,
Glens Falls.

Member at LargeHollis E. Harrington, Vice President,

State Bank of Albany, Albany.

Group VI:

Chairman-M. A. Merrihew, Assistant Vice President, The

First National Bank of Poughkeepsie, Poughkeepsie.

Group VII:
ChairmanGeorge H. Becht, Vice President and Cashier,

The Franklin National Bank, Franklin Square.
Representative-Charles J. Machleid, President, Peninsula

National Bank of Cedarhurst, Cedarhurst.
Member at Large-Oscar Gast, President, Bank of Rock-

ville Centre Trust Company, Rockville Centre.


as in


Group VIII:
Chairman-Alex H. Ardrey, President, Bankers Trust Com-

pany, New York City.
Representative-George C. Textor, President, The Marine

Midland Trust Company of New York, New York City. Member at Large-William F. Doyle, Vice President, Irv.

ing Trust Company, New York City. Ex-Officio Member-Albert L. Muench, Executive Vice


Counsel—Leo P. Dorsey.


At the time this testimony was being prepared, to my

knowledge, the American Bankers Association had not requested

an opportunity to express its views on the Curtis Bill (H.R. 8737)

or tax-equality.

Quite frankly, the American Bankers Association has been

a source of disappointment to commercial banks throughout the

United States for some time.

I should like to quote from a letter which I recently sent

to all commercial banks in the United States:

"I am all for the ABA as a dynamic organ-
ization fighting for stockholder owned banks."

But the American Bankers Association carries water on

both shoulders and attempts to be all things to all people. It

strives to maintain a course of North, South, East and West

all at one time. It would be both loud and soft, deep and shallow,

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gests that commercial banks, instead of advocating a decrease

in the tax-free reserves of mutual savings banks and savings

and loan associations, seek a comparable tax-free reserve for

commercial banks.

While uniformity is a desirable thing with respect to bad

debt reserves, the question is a separate one from basic tax



As stated earlier, the New York State Bankers Associa

tion's report covering "Analysis of Problem" begins by stating,

“The problem is countrywide and not peculiar to New York State."

With this basic conclusion in mind and fully conscious of

the lack of initiative on the part of the American Bankers Asso

ciation, I polled the commercial banks of the United States

all 13,407 of them

on the question, “Do you favor the

American Bankers Association taking aggressive action to tax

the mutual savings banks and savings and loan associations the

same as stockholder-owned banks ? "

In fact I polled the banks twice. Once to see how they felt

about mutual savings banks as members of the American Bankers

Association and a second time because the American Bankers

Association tried to ignore the first poll. It was in the second

poll that the question on aggressive tax action was included.


Before reporting the results of this poll, I would like to

express to the Committee the sentiments of commercial banks

throughout the United States with respect to the Curtis Bill (H.R. 8737).

According to separate remarks expressed time and time

again by banks participating in the poll, the nation's commer

cial banks are all for enactment of the Curtis Bill (H.R. 8737)

which would provide substantial equalization of taxes. RESULTS OF POLL

To return to the question asked in the poll, "Do you favor

the American Bankers Association taking aggressive action to

tax the mutual savings banks and savings and loan associations

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These results represent the views of 25 per cent of the

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