The morning call., 1892-09-08
MONEY KINGS In Session.
Convention of the American
Bankers Association.
ORATORY AND BUSINESS.
The Three Days Grace System Is Abolished
John Mckee Talks Of Pioneer Finan-
ciering in California.

The seventeenth annual convention Of the
American Bankers Association held its
opening session in the California Theater
yesterday.
1t Is no ordinary convention.
In the first place there is a total absence
of the noise and hustle one is accustomed to
find when conventions are held, and above
all the surroundings are appropriate to the
wealth represented by the delegates.
Luxurious armchaIrs, costly rugs, ele-
CANT electroliers, fine furniture and pleas
ing stage settings awaited the money kings
as they filed into the theater at 10 A. NJ.
yesterday.
In the galleries and boxes there were a
number Of ladies' who remained throughout
the session as interested and interesting
spectators.
An orchestra furnished Introductory con-
cert music.
President Richard NJ Nelson Of Selma,
Ala, called the convention to order, intro
ducing Rev. DR.. Horato Stebbins, who
offered a prayer.
The first speaker was John Mckee,
cashier Of the Talant Banking Company,
who welcomed the delegates in the name of
the bankers and merchants OF San Fran
cisco.
Mr.. McKee's address was masterpiece
in construction, and he delivered IL in an
easy and graceful manner
After expressing pleasure to be able to
greet the visitors, so that by friendly inter-
course we might learn to know our busi-
ness friends from other States, the speaker
referred to our extreme Western location,
and said that their presence here brought
TO mind something Of the Californians' own
early experiences In the land from which
they came.
Then he drew a fine word-painting of the
youthful days Of the men who are now at
the head OF large commercial enterprises In
this State He described vividly how the
stories they read of the Western border
land directed their thoughts westward, and
stimulated desire to cross the Rocky
Mountains and seek their fortunes Oh the
shores of the Pacific Ocean.
MAY We not then give expression to q
little feeling of pleasant surprise on being
reminded by you III personal way that one
memory may include within its reach the
story Of the union Of the Atlantic and Pa
cific coasts?' said Mr.. Mckee, and then he
reminded his hearers Of their journey across
the continent, and of the great natural
beauties they must doubtless have seen and
wondered at.
The mighty progress of the Western States
during the short span of time they have
been known to the rest Of the world was the
next theme, and brief outline OF the geo.
graphical dimensions of this State and its
resources followed. Mr.. Mckee, then refer
ring TO the Bank Commissioners report,
mentioned incidentally tina. in the new State
268 commercial and savings banks are en-
gagged in business, and then again becoming
reminiscent he spoke of the troubles Of the
financers in the days of 40.
Speaking Of the present needs in the
| Western money world the speaker said:
The Government and national bank
| paper currency enter more largely into our
| money circulation, and 1t may be safely
| said that California bankers are not averse
| to mixed circulating medium. including
| paper currency, based, under suitable lim-
! itations, upon deposits Of the precious
| metals"
| Pointing out n few matters which he
| hoped the convention would consider, Mr.
| Mckee mentioned a seeming need for a
| uniform, simple but comprehensive bill Of
lading, and for an efficient and equitable
| general bankrupt law.
Concluding his remarks. the orator hoped