The morning call., 1892-09-06

Badge OF the Bankers. greeted them one and
all, both old friends and new, and hoped
that at the end of the convention they would
carry home pleasant recollections and re-
newed friendships.
To this address Frank Miller of Sacra-
mento responded on behalf Of Northern
California in short speech. he expressed
the thanks OF the interior bankers, and their
wishes that San Francisco might receive
more of tue business of the country. AS a
means Of securing this result ne suggested
the adoption of the Torrens system Of reg
isteriDg land titles, whereby the Govern
ment guarantees titles. Thus abstracts are
abolished and expenses are reduced TO less
than One-fOurth of present charges. Also,
borrowers and lenders can freely negotiate,
the only questions debatabe being the value
OF the lands and the rate of interest Trade
follows loans. and San Francisco being the
largest lender, her loans should be assisted
to 90 TO every corner of the State.
President j. X. Wilson OF the Sather
Banking Company of this city responded for
Central California. In the course OF his re-
marks Mr.. Wilson said that the bankers of
everv State held great possibilities for good
or for evil and that they possess equal
power TO impede or advance progress. lie
was happy to meet men from the upper and
lower divisions and felt that the occasion
would tend TO broaden views and awaken
new interests.
In speaking of improvements needed in
industrial conditions the speaker said Il
have observed that on July !, 1892, there
was on deposit in the several banking in
stiiuiiOns Of San Francisco the sum of
S132. 100000 OF accrued capital due depos-
itors OF this amount So. SOC, 900 was in the
national nearly S27000000 in the COM
meTcial and over Sl02. coo, 600 in the savings
banks, with S6,250.000 due to outside banks.
Er,1F . ls.f . 4, aR,1t tal &
all these banking institutions s little over
S35, 600, 900. S2,500,000 being that of the ma
tlonal banks, SIS, ,250, 600 that OF the COM
merciai, S4,500.000 that Of the savings banks.
1T appears TO me that within these sur
prising facts there lie questions OF the deep
est interest TO all the people OF the State
of California, among them the question
whether there be anything which the bank
ing and commercial men OF the city OF San
Francisco can do 10 change this financial
condition. Every business man in CallfOr-
MIA realizes the fact that what this State
most needs is more people. They also know
that there are vast estates of the best and
most desirable lands which are unavailable
at the present time TO settlers OF more mod
crate means"
Mr.. Wilson was Of the opinion that the
banks Of California might inaugurate an
era that would prove beneficial. Ii was
time that something were done, for COM
merce was shackled hand and foot BY lack
OF transportation facilities. The southern
and northern sections can do but little, the
middle 10 which all business flows, can
accomplish nothing to speak of alone, but
the three united could form an alliance
whi,h no other combination could break.
Following this address came A. ID. Child
ress of Southern California with we'll
written paper on the climatic and other
beauties Of that region.
He said that Southern California Is
IF ha lar
region, unparalleled for happy conditions on
the face OF the globe. The Osculation of
the Colorado's scorching heat with the Pa
cific's bracing cold manufactures that per-
fectiou of temperature. which is blessing
to animal lie and vegetation, ana always
exempt from import duties and Mckinley
bills"
He spoke of the beauty and growth of
Los Angeles, San Diego, Riverside, San
Bernardino and other Southern California
cities and towns, and gave statistical iu-
formation OF the growth of Los Angeles in
population and wealth, as indicative Of
increase In wealth of Southern Cali
fornia.
Los Angeles has increased in population
from -, 500 in 1885 TO over $4,000 In 1892,
and there has been au increase of its bank
ing capital Of S4,943,000, and deposits of
S7.505, ,0C0 within the same period.
The banking capital of Southern Califor-
mia has increased from 81, 600 in 1885 to
S11, o00 in 1892. and total deposits from
81, 999, 600 TO so, 100000 in July this year.
The number of banks has Increased from
nineteen banks in 1885 10 eighty-iye banks
In 1892.
Facts like these plainly Illustrate the rela-
tive importance OF Southern California,
compared with the remainder Of our Golden
State.
President Thomas Brown then read an
able address, in which he stated that in
spite of the marvellous progress OF the nine
teenth century, there were still many great
financial problems that should be solved
before the end of the century. There were
many suggestions to be made on the prob
lens of irrigation and transportation mat
ters Of local interest, and something should
be done In the way Of improvement.
He then went into the history of banking
in the State, touched on the silver question
and The peeuliarities of California, and
concluded by cohgratulating the bankers
for having done so much to shape financial
policy on the right lines.
Chairman Childress of the executive
council read a brief report OF that body,
which also contained the treasureT's report,
which had been examined and approved.
The following resolution on the Nicaragua
canal was adopted:
WHEREAS, the California Bankers Associa-
tion has already put itsef on record as heartily
favorng the construction of the Nicaragua
canal; and whereas an American company has
States for the construction of the Nicaragua
maritime canal ana is now engaged IN the work
OF construction. Therefore be 1t
Resolved. That tie California Bankers ASsn-
cation. having in view The great and permanent
benefit OF this work 10 the finances. commerce
and industries OF the Pacific Coast aud 10 the
entire republic, respectfully requests the Amer
lean Bankers Association. meeting at San Fran
cisco on September and 8, 1892, TO pass resOlu-
tons In favor OF Government canal under Gov
ernment control, and re commenting the enter
prise 10 the good and financial support OF the
American people.
As submitted the resoluti on read "Ameri-
can cana" which was on motion OF j. West
Martin. amended to read Government
canal"
The council recommended that National
Bank Examiner w. Ii. Chamberlain and
the State Bank Commissioners be made hon.
orary members OF the association. The
secretary OF the association, George III.
Stewart was highly praised for his efli-
cieney
The report OF Treasurer G. w. Kline
showed that the association had on hand
Sal 45 from last year. and that the income
from annual dues this wear was $500. The
total expenses were Sl260 23. leaving
balance Oh hand of S10Si %.
During the year the mem bership Increased
from 161 to 10, and the association has
wthstood the shock of two failures, the
California National Bank and California
Savings Bank at San Diego.
In his report Secretary George FL. Stewart
showed that during the year five banks had
withdrawn from the association, but in place
of these, fourteen have acquired member
ship.
The year has been specially notable in
developing twenty-nine banks. which have
been licensed and commenced business in
California since October i, 1891. State
Bankers Associations have largely in
creased in number At the date of the last
report, fifteen were In operation, while now
! eight more are listed, viz: The Ohio, IL
linos, Kentucky. West Texas. Arkansas.
Wisconsin. Illinois Private and Colorado
Bankers Association.
A. &. Henry. chairmau of the committee
on irrigation bonds, reported having inves-
tigated the Anaheim district, and found that
the security to the bondholders Is ample.
Chairman w. Ii. Rhawn OF the executive
council OF the American Bankers Assocla-
4 Al f.,.rs tAn fH n1x 1xrno