Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-05-08
The Fifth Annual Convention
Convenes at the Capital City.
A REPRESENTATIVE BODY.
Each Bank, Private or National, Link in the
Great Chain Of Public Welfare.
The Rapid Growth of Banking Interest in
the Lone Star State Pointed Out,
Interests on Deposits an
Important Question.
Special to the Gazette.


Texas met in the Board of Trade hall at II
a. N. to-day, President Levy of Victoria in
the chair.
There were eighty-three members pres
ent, who, in a body, made rather quiet
and genteel appearance. While they did
not look 10 be money kings, they did repre-
sent the financial strength and growth of a
great state, as well as the force and charac-
ter Of
PROUD AND SELF-RELIAST PEOPLE.
Rev. DR.. Crappel Of this city pronounced
an invocation, after which Mayor McDOn-
AID delivered an address of welcome, in
which he felicitated the Capital City on the
honor conferred by the presence of the
bankers, and expressed the hope that they
would experience both pleasure and profit
from their visit at Austin, OF which he
would not boast unduly, but which he would
say was live, beautiful and progressive
city.
The address was responded 10 on behalf
Of the bankers by Vice-President Blake, who
thanked the mayor for his kindly and cor
dial welcome, and said that he and all his
associates felt pride in Austin. as
THE CAPITAL OF THE STATE.
They all felt an equal interest in and
watched with satisfaction rs progress and
growth. The laws of q great state were
made here by the assembled legislators
wisdom, and therefore laws which bankers
as well as others are pledged to serve and
obey. The bankers met here not only TO
make and cement friendships, but TO de-
iberate on matters that concern not only
themselves but the whole people.
ANNUAL ADDRESS.
President Levy then came forward with
his annual address, of which the following
Is a summary:
Gentlemen and Members OF the Texas Bank
ers Association
The banking system, an indispensable
element of all Industrial life, has progressed
and developed with the growth of our
country and taken shape from the sur
rounding conditions. By its constitution
and purpose each bank is link
in the great chain Of the public welfare
and 1t SHOULD seek strength oy Intercourse
and education, lest it become the weakest
link in the chaiu. We have barely emerged
from what threatened to be great tinan-
cial panic. He did not pretend to say what
was the cause OF the recent financial
stringency, whether it was the agitation of
the
FREE SILVER QUESTION,
the failure of Barring Brothers in London
or the Mckinley BILL but whatever it was,
the result was partial loss OF confidence in
financial circles, which always produced
stagnation by limiting the circulation of
money. The crops Of the present year will
repair all the damage done and money will
once more get into the channels of trade.
Keeping step with the growth and expan-
sion of various industrial and other de-
partments and enterprises of the state, her
banks have grown In stability and numbers
until now there are l4T private ana
2i0 NATIONAL BANhS.
The national banks in the state increased
since October, 1890, from 1S9 to BIO Their
total resources at the beginning and the
close of the last fiscal year was given as
follows: Total resources December II,
1889, in IS5 banks, $55, $50, 045; total re-
sources October 2, 1890, in $50 banks, ST.
94S, 401
Mr. Levy expressed desire for data
from each bank in the state from which to
compile in compact form the amount Of cap
ital. surplus deposits and loans handled by
the banks in the state for use at
THE COLUMBIAN FAIR.
He also commended to the favorable consid-
Grafton of the convention the subject of a
clearing bank for the clearing of out-of-
town checks and drafts as more desirable
than the present unsatisfactory way of
carting them around the country.
Another topic of discussion suggested
was the need for more technical training
those who contemplated banking as liveli-
hood, and the addition to the Agricultural
and Mechanical college of a department for
that purpose.
IL VI flSO SCSbtu llldU lilC
adopt resolution providing that no drafts,
especially those by travelling men, be
caShed but upon presentation of
LETTERS OF CREDIT.
Mr. Levy, as chairman of the executive
committee, presented its report, making
for bankers exhibit at
the Worlds fair; also recommending that
steps be taken to prevent frauds in checks
On the banks, and making various minor
On motion the address and suggestions of
the president and the report of the commit
tee were referred to q special committee
appointed by the president as follows:
Green, Longcope, Blake and McAshon.
Treasurer Gibbs submitted his report for |
the years of 1890 and 1891. Ending with |
this convention, it shows that there is on |
hand q balance OF 1891. 95.
BANK LEGISLATION.
A P. Woodbridge of the committee on !
bank leg Station, made his report.
1t is stated that the attempt TO get the |
legislature 20 adopt an amendment to the |
granting charters to banks in |
he state and to authorize state deposito-
lies had been futile one, and that nothing |
lefinite had been accomplished III that di-
'ection.
The chair appointed Messrs. Shaw,
Srash and Stone as an auditing committee. /
Mr.. Patton, president Of the Planters |
md Mechanics national bank of Houston,
cad the following paper on
BANKS PAYING INTEREST ON DEPOSITS"
Mr.. Richardson. cashier of the First
rational bank of Marble Falls, delivered an
address, on the same subject and was fol-
owed by Mr.. Groce, cashier Of the Calves
on national bank, who advocated strongly |
he paying of interest on deposits. sdvanc-
ng some very good arguments therefor.
A telegram from Secretary Jones of
Temple, stating that it would be impossible
or him to attend on account of sickness in
lis family, and wishing for the convention
prosperous and pleasant session. was
cad.
An invitation from MIR. Shipe to the dele
'etes to visit Hyde Park on the electric cars
his afternoon was accepted with thanks
On motion the convention returned thanks
o the gentlemen who had read papers, and
he secretary was instructed 10 embody the
anne in the regular proceedings
The programme for the day having been
ompleted, the convention adjourned until
p. IN.
AFTERNOON SESSION
At p. m. President Levy raped the con-
ention TO order.
Bankers Sleigh of New Orleans. Russell
nd Bulline of st. Louis and Mr.. Spalding,
ank inspector, were given seats on the
tand.
Mr.. Sleigh. being called for, addressed
he convention on the interest question,
aging that he began the study of banking
q Galveston twenty years ago, and was
till student, but not graduate. Two
ears ago at Corsicana he spoke to the |