The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-08-15
BANKS AND BANKERS.
The Closing Meeting of the National Assoeia-
ton at Saratoga.


SARATOGA Aug. IA AT the bankers coaven-
ton, this morning, the report Of the nominating
committee was read and adopted The officers
elected are the same as last year, with tho ex-
ception Of e. Francis Riggs in place of John A.
J. Creswell for the District Of Columbia; Joseph
Il. Oglesby, president of the Louisiana Bank. of
New Orleans. for Louisiana, in place of j. j.
Pauleton, cashier of the Citizens National Bank,
of New Orleans Abraham o. Bigelow, president
Of tho Massachusetts National Bank, Of Boston,
IN place Of Charles r. Smith, Of the Continental
Bank, Of Boston; Isaac Danforth jr president
OF the First National Bank, of Richmond, in
place of John P. Branch, president Of the Mer-
chants National Bank, Of New York, made
chairman Of the executive council; and james Fl.
Bowie, president Of the Boston National Bank,
ana J. II. Willard, president Of the Omaha
National Bank, in place Of Chester Gould, Of the
Boston Manufacturers Bank, and J. E. Weller,
president Of the Union National Bank, Of Minne-
apolls, respectively, of the same council.
A lengthy paper by j. J. P. Odell, of Chicago,
on the London Bankers Institute was read.
DE gave a history Of its organization and man
ner OF conducting. Ithas membership of 49,,
ooV and is rapidly growing. The following
resolutions were carried:
called associate members, shall be established the
qualifications of which shall be- first service in amy
bank or banking establishments for not less than FIVE
years. second passing examination upon such sub
JectS as shall be prescribed by the executive council
Resolved That committee of three be appointed
py the chair to perfect plan for the practical appca
tion of the ideas contemplated in the foregoing sofia
non and report the same, when perfected, to the
ecutive. eouncil.f
Mr. George, of Montreal read a paper ON
"One-named Paperr He referred to the man
ritad land
ana compared the method with that of the
United States. He also stated the mode of
making loans, etc., and gave p brief statement
OF the mode of making loans in Canada and also
some remarks on Endorsed and secured paper
and unsecured paper He regarded the practice
OF borrowing ON one-named paper illegitimate.
Inc legitimate way to borrow is to make a per
sonal application to the banker and lay the case
Defore him. All other modes should be abol-
lsned. The paper was received with applause.
At the close q motion was made by Mr.. Cole,
OF New York, to return vote of thanks to Mr..
George for his able paper. Nh. Hughes, of Gin
clnnatl, seconded the resolution. He said if the
suggestion by the speaker had been followed IN
New York they would not now be emerging
from financial crisis. The motion was unani-
mously carried
Mr. Williams read paper on Bankruptcy
Legislation" The paper was received with favor.
lhe Following resolution was adopted:
Resolved That the thanks of the association are
due to the newspaper press for publicly expressing
ana QSnOunc1Ig certain schemes for matchmaking
banks and bankers of the country through the publ
cation and Illegal demands sent to them through the
mails, and that banks and bankers be cautioned
against noticing or responding to such demands
Judge Poland of Vermont, made reference to
the Potter refunding bill, as read yesterday, and
spoke Of the sound sense it contained, and con
GUIDED by calling upon Mr. Potter, of New York,
the originator of the banking system of the
country, and whose views are embodied in the
above bill, to make some remarks.
Mr.. Potter took the platform amid loud an
plause. he madea brief reference to the pres
emit bank system as one to which he gave his
early attention He did not want the system
used to perpetuate the national debt, but to be
useful as long as the debt remains. He hoped the
bill would be favorably considered in Congress,
and, If passed, its effect will be to place our in
terests upon as high plane as any nation in
the world
An address of A. Oberndorf, Of Kansas, and
papers of Benjamin G. Wright, of San Francisco
on Banking and Business Of California, Charles
Jenkins, of New York, on Collection of County
Checks Daniel Gray, of New Mexico on
Raised Drafts" General Elmer, of New York,
on Corporate Suretyship;' a. w Yates, of
Nebraska, and John Thompson Of New York,
on Prevention Of Panics; 81. II. Camp, of Wis
consin; T. B. Hinchman, of Michigan, on Bank
ing IN the State Of Michigan, and large num-
Der OF letters from prominent members of the
association all over the country, regretting in
ability to be present, were read.
S. A. Keene, of Chicago, made reference to
panics, and thought the country was on the road
to full return of confidence.
Logan o. Root of Arkansas, offered reso-
tuition authorizing the executive council to fill all
vacancies in Hice4presdents. Carried Also, a
resolution of thanks due to the gentlemen who
contributed to the interest of the occasion. The
presidents address was ordered printed in
pamphlet form and forwarded to members.
Chairman Gage thanked all for the courtesies
extended him, after which the convention adj
iourned sine die