The morning call., 1891-10-15
STATE BANKERS.
First Annual Convention of Their
Association.
Welcome by John McKes-Response by E. F.
Spence and z. Ii. Preston-Will Not Hear
Judge Widney-Reports.

Upward of 100 members of the Bankers
| Association of California were present at
the Chamber of Commerce yesterday when
President Thomas Brown called the meeting
| to order.
John Mckee. President of the San Fran
cisco Clearing house, made the address of
welcome. in which he called attention to the
fact that tie members had not come to the
convention with the sole aim of pleasure.
but also to discuss number of subjects of
interest and profit to bankers and banks
and the general public, such as the relations
of capital and labor, the assumption Of
banking functions by the Federal Govern
ment the free coinage OF precious metals
and the standard for future obligations.
The necessity of a national bankrupt law
was touched upon, and uniform, simple and
cOmprehe fsiye bills of lading.
E. Z. Spence. President of the First
National Bank of Los Angeles, responded
to the address on behalf of The visitors. He
took the occasion to call attention to the
sphere of usefulness filled by banks. which
were not solely money repositories, but the
safety-valyeS and fOrwarders of commerce.
He favored the patronage of home indus
tries, and suggested to the convention the
adyisability of extracting the gold from
CALIFORNIA; mountains by hydraulic mining
and making good to pr0perty-holders the
damage resulting from this process.
He was followed by E. NJ. Preston, who
continued by celebrating the suggestion in
regard to hydraulic mining.
THE BANKING BUSINESS.
The next speaker was Thomas Brown,
cashier of the Bank of California and Presi-
dent of the association. In the course OF
his remarks he called attention to the needs
and usefulness of the Bankers Associa alton
in California, due TO its Isolated p0sit0 n,
the good results of this coming together to
discuss matters appertalning to the bank
Ing system, the position of banks In rela-
latiOn to the general public and to COM
merce, closing with brief mention of the
growth Of the banking business of the State
The Secretary, George Ii. Stewart, cashier
of the Los Angeles County Bank, made his
report, the principal point of which was the
association membership numbering 151.
The Treasurer, G. w. Kline, assistant
cashier of the First National Bank of San
Francisco, reported that of the S1510 col
lected from SO membership fees he had
| discussed S768 50, leaving now balance of
Sal 40 on hand.
OFFICIAL ACTIONS.
The Executive Council reported the Off
cial actions of the association up to he
present meeting, of which the principal one
was the denial of the request of Hon. K. NJ
Widney, LID, to be allowed to address
the convention upon his national money
SYSTEM" The reasons given were that his
system and views were already well known
and that the committee did not believe the
members of the association either would
indorse them or approve them, and also
that it did not believe it was the duty of the
association to reform or revOlutionze the
methods now in use in the United States.
4 brief discussion of the committees re-
port upon this point followed, but the re-
port was adopted as read
THE MORTGAGE TAX.
William Beckman read a paper on the
question: Should the mortgage tax be
abolished or maintained?" He was in
favor of its adjustment, but thought the
question too large one to be disposed of
at one meeting. His reasons for abolshing
it was that it did not have the desired re-
suit. which was due TO the defective c0ndi-
tions of the statutes.
Mr.. Beckmau also read short paper, out
side OF the regular programme, exposing a
land swindling scheme, which was of great
interest to banks aud mortgage corpora
tons.
A few minutes before adjournment an
nouncements we're made calling the mem-
bers attention to the entertainment features
of the programme. Ladies will not be pres
ent al the banquet
TO-day's session will commence at 10
o'clock in the morning and o'clock in the
afternoon.