The morning call., 1892-09-08

that the proceedings of the convention in
this city would serve to unite more closely
by friendly bonds Of concord and mutual
service citizens Of the several States OF our
Union.
Governor Markham, who was to welcome
the guests in behalf of the State, was pre-
vented by illness from being present, and
W. II. l.. Barnes was therefore introduced
as the representative
Mr.. Barnes gave the States greeting to
the visitors in his usual happy manner.
His speech was ex tempore. but neverthe-
less it sparkled with gems of humOr and
sentiment.
II fear can hardly hope to please so
many bankers be commenced. for !!
never care TO speak even to one banker. If
do. it is only after he has repeatedly sent
for me, Had l the privilege of introducing
resolution in convention like this one, /
would ask that the use Of red ink be abol-
ished in bankbooks. 1t looks bad, resembles
blood, and the sight OF 1t always gives me
nervous shudder."
In an Entertaining manner, Ir. Barnes
then spoke of the legends and poems writ
ten about the discovery of the mythical
Western land, which afterward was named
California, and then he eloquently spoke the
praises of this State, its wonderful scenery,
climate and resources.
There was great deal of applause when
Mr.. Barnes closed by telling the story OF the
man from the East who came out here for
change and rest 'The waiter got the
change, and the landlord got the rest" he
said.
President Nelson's annual address, which
followed, was very brief. He referred to
former conventions, and said few c0mpli-
mentary things about California and San
Francisco.
Then he hoped that as the work of the
convention progressed valuable suggestions
would be made and acted on.
Professor Edmund j. James of the Whar-
ton School Of Finance and Economy, Uni
versity of Pennsylvania at Philadelphia,
delivered an address on the Higher Educa-
tion of Business Men in Europe and Amer
ica."
Being invited in 1891 by the Bankers
Association to visit the leading centers Of
financial education in Europe and to make
report. Professor James in his address re-
viewed the subject thoroughly.
E. b. Pullen, vice-president OF the Ma
tional Bank of the Republic Of New York
City. read an address to the memory of
John Jay Knox, the late vice. president of
the association, who died recently.
Mr.. Pullen's tribute to the many virtues
OF his lifelong friend was extremely touch
inc, and as he read 1t with steadily growing
emotion. tears glistened in the eyes of many
OF the graybearded bankers, who all knew
and esteemed Mr.. Knox during his lifetime.
A recess for thirty minutes was taken at
/ o'clock. during which fine lunch was
served in the lobby. 1t was given by Man.
ger Kinzler of the California Hotel.
The afternoon session was devoted to the
hearing of reports.
w. III. Rhawn Of Philadelphia, chairman
of the Executive Council, made his report.
1t contained number of recommendations
for minor changes in the constitution, all
of which were adopted
The only recommendation of the EXecu-
tive Council that met with opposition was
that the three days grace system on notes,
drafts and bills Of exchange should be abol-
shed.
Judge Ewing of Pennsylvania, Van
Alden OF Albany. n; Y. and White Of GIN
tinue. They claimed it is time-honored,
harmless custom, and; that there was no
needlof its abolition.
Tracy of Illinois, Northrup OF Wisconsin.
Sherwood OF Michigan. and several others
argued In favor OF resolution abOlishing
the "grace" system, and called it relic of
stage-coaches and slow sailing vessels.
After much discussion the resolution was
adopted and the abolltionists gained their
point.
reported that balance of S12, ,315 46 was on
hand and on motion 1t was decided that
$4,000 Of the amount be invested so as to
bear interest.
Secretary William B. Greene of New York
reported sixty-nine new members dur
ing the year. sixty.two have. with
| drawn, seven closed by voluntary
| liquidation and eight failed. Two hundred
| and seventy-eight persons connected with
| affiliated banks died during the year and
| the total membership as 1t stands to-day is
| 1885.
Captain w. L. Merry addressed the meet
| ing in behalf OF the Nicaragua Canal and
| the resolution adopted by the California
! Association Of Bankers advocating the canal
/ was read. Il he matter was referred to the
| executive council.
| Before adjournment it was decided TO ac-
| cept an invitation sent by Irving M. Scott
| to visit The Union Iron Works on Friday
! morning at IL O'Clock, at which time the