The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-07-19

High Praise from the Comptroller for the
New York Banks.

High Praise from the Comptroller for the
New York Banks.
Some people were asking last night how 1t
came about that the Hon. James H. Eckels. tho
Democratic COMPTROLLER Of the Currency, was
entertained at dinner at the Union League
Club. In the first rlaGo the iden Of the dinner
came from President A. b Hepburn OF the
Third National Bank. the imm ediate prede-
cessor Of Mr.. Eckels. Mr. Hepburn is q candi-
date for membership In the Union League.
His name has been on the waiting list for three
years. The rules Of the club did not give
him the privilege OF acting as host on an
occasion OF this kind. and SO the invitations
were sent out by President Henry W. Cannon
OF the Chase National Bank. an old member Of
the club. and also at one time Comptroller OF
tho Currency. Mr.. Eckels met some OF the
most important bankers In tho United States.
They were pleased with him. and he was
pleased with them. and SO everybody was
happy. The bankers were surprised at the
Comptroller's youthful appearance.
Those at the table were. besides Mr.. Eckels
George G. Williams OF the Chemical.
esatn rresdsns EdNaSr4S en
Of the Fourth. President William A. Nash
the sA First presidens George Iontasue q the
PspP Robsre GasWsg o. the
Merchants. and President Bra yton Ives OF the
s.sTs d ss Tns st .1es Hsss CONN CONN
pans: ex-Secretsry Charles 3. !. Fsirssiid.
President Of the New YORK security sS1d Trust
tsnLent Of the banking Department OF this
With the cigars and coffee Mr.. Eckels was
When accepted the Invitation to be pres
ent h Rn thrs ms n ndss
some OF the representatives OF the great imam
eial institutions OF your city ! did not then.
be Inappropriate to the time or TO the occasion.
can peop p Is one that deserves the thought.
tie Interests Of the country: It Is not time
but Il is one 81 slow iauidatios. tic result 81
lation.. Nothing Is to be gained by taking on n
fright that is unwarranted BY either the imme-
American can people ought to do in the midst OF
the failures that have occurred. 10 not to give
way to uneaIled for alarm bit to study The
the causes which have produced the failures.
and the localities where, they have occurred:
Institutions every whore about them. and the
conclusion that must irresIstibly follow Is
try not but cad viii co out
OF the present turmoil the stronger for having
passed through It In eonssry serve 6pssiness
and all times is dangerous and must inevita-
It. The present strincensy has simply has
tened the closing of some banks. because they
%e rssatans ee Ssa 81 having Kept alive s the H
operations Of speenlatSrs IL the extreme West
his all upon an unbuit city reaching out into
~ IN mat riv boz
tie san Il s ndsd
which have trusted in him and pinned their
my! Dsa ss have fallen upon the ecuative
Washington. California. Colorado, Kansas; and
East and the Middlss States, and those Of the
tios upos vhish they are SaiidsaiS 81 rock
.such review as that WHICH 1 have, indI-
Gated CANNOT but have the effect OF 1uieting
the fears q the tinld a, and aneouraging those
ought to check those who. invite disaster BY
money. which the depositor cannot. possibly
use. The people are hoping and asking much
banks have tho right q considerete treatment
ssvs vn as Il on n' e
TrSysa ass s' hss %sy "SS
present emergency. Runs upon banks hut
destroy the interests which otherwise would
lie projected. and those who indulge in them
cause to como about tho thing which they
say they wish to avert
Sin conclusion. permit me to say that in
duge neither in extravaganza Of speech or
undue fattery when say that the course
throughout the past weeks has been such rs
to comm end them to the good wishes OF every
citizen of the republic. Here has been dis
played Wisdom that has met every emer-
gency, and here the maintenancs q SOUND
has been a constant source OF Inspiration to
all the country" tApplause.l