New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-19
A DINNER FOR MR.. ECKELS.
A. Z. HEPBURN ENTERTAINS THE CON.
TROLLER OF THE CURRENCY.
NETWORK BANKERS INVITED TO MEET HIM AT
TIE UNION LEAGUE CLUB-sPEECH
OF TIKI GUEST OF HONOR.


I Henry W Cannon president Of the Chase National
Bank. and Frederick D. Tappen, president OF the
Gaatia National Bank had last night their guests
at dinner al the Union League Club, James Ii. Echels
Controller OF the Currency, ard a number Of we'll
known bank officials. The dinner was given mainly
| for the purpose OF making an opportunity for the
new Controller Of the Currency 10 meet the leading
/ bankers Of this Cty \. r. Hepburn president o.
the Third National Bank. who was Mr.. Eckels's
predecessor in the Office OF Controller, was mainly
responsible for getting up tie din er. but as he IS
no; member OF the Union League Club, the dinner
could not be given there In hi name. Mr. Hepbur2
desired to pay this courtesy to his successor In oice
and all of the National bankers in this city We're
anxious to mite vita him Ill so d0lig. 1t was
commented upon last night as a remarkable circum-
stance that the first entertainment at which he should
he present was given r. honor OF the Controller
at the Union League Club.
round table was used, and consequently there
was no head, and the guests were not distributed IN
any particular order Those present besides the two
hosts and the guests were Charles NJ Preston Tie
state Rank superintendent: J. Edward simmons
president Of the Fourth National Bank; George c.
Williams president Of the Chemical National Bank;
! William 4 Nash. president Of the Corn Exchange
Rauk: f. X. Wright, president OF the Park National
Bank: George Montague, president OF the second
National Bank James Stillman. president Of the
city Bank: Brayton Ives. president Of the Western
National Bank \. b. Hepburn. president ol the Third
National BaDA; George +. Baker. president OF the
FIRST National Bank. and Colonel william L. Strong.
president Of the Central National Bank
Becausc Mr. Williams IS the chairman Of the
Clearing House Committee he was made the presiding
officer at the dinner. Mr.. Eckels sat at his nslt
and Mr.. Preston at his left. During the evening
several speeches were made besides the formal one
delivered by Mr. Eckels 1t WIS time when frank
ness prevailed and every one said Just what he
nix. -fD4s In lfanf
In hi, speech said that he deprecated the idea Of
the passage Of legislation repeating the state tsnk
tax Comirg from him with his political affiliations
the statement surprise.
Mr. Williams Introduced the guest o, the evening
in u few words Mr.. Eckcl, spoke follows:
when l accepted the invitation t. be pr this
ing that / might indulge myself in the personal
peasur meeting Of the representatives. OF the great
financial Institutions q your city did rot then, nor do
now. make formal address but there are one
that not lie ina piopriae 10 the time or
the occasion.
The condition which confronts the American people Is
one that deserves the thoughtful OF every citizen
who has 40 interests of the country 1t is not
time OF ranc passed the period in our
history when panic possibility. but Is one Of a
liquidation tn I,sult Of undue speculation and un
wise financial citation Nothing l. to be gained b.
taking on a irsLt that unwsrranted by either the m
past immediate future What the American
peoil IN the midst Of the failures that have
=
study the character OF Institutions which haNr failed
the causes which have produce, them and tn localities
where they have occurred After such study let them
view Oh. solvent institutions everywhere about them and
that rr, stiby follow T. that the It,
citlnate business life Of the county not threatened
instead viii come out Of the present. turmoil the
stronger FOR having passed through It.
In conservative business centres the failures have been
few either tn banking other lines. Fa1 banking AT
any and all times f.. dlrgcrou, and must inevitably hing
an / he ID H-sIf
.ttagency has simply hastened closing Of banks
because they inherently weak Others have closed
a. resultant effect o. having kept av" The operations
II slp.cu.ators the extreme Wet and Ia portions O.
tn south. The h,. not yet been discoNe ed Of
msAIng something out u nothing and thc hnancer VINO
stakes his al upon unbuit city reaching out into the
waste places earth Hut bring about the ruin q
Ms own aid kindred Institutions which have trusted In
him aaI pinned thcir faith to assets yet unborn
Disaster. fallen the speculative Institutions
n boom cltis. 81 the states u Wa hington, california.
colorado Kansas Missouri which have ia turn injured
cent ones of Ncw-ngand and The East
and and those tic Northwest not l"s
than of the south thus r escaped and WILL because
tc foundation upon which they buided Is OF rock
an not q and
such a rc,.ew as that which l have indicated cannot
tut have tn eject %; qulcng the fear Of n" tnld uh-
encouraging those who thus IA maintain I'd nj UNI
sweryng faith the speedy coming OF better tins II
ougat 10 check Invite disaster by withdraw
lr from solvent Institutions the money which III" &C.
~. couuot possibly The peol' az hoping aac
asking H. banka OF the country IN turn the
banks the fght OF consderate Treatment from tn
,.opi. LIT those Who oag transacted business
with Tie iaanc Institutions have sufficient conhd nee
In ilra Zee. thai II IN yeas past they have
proved safe. they surely must do IN the present
eei gencv Rua, upon banks but destroy the Interests
which ocrs-c would De protected AMI those who ndus'
In them cause o. come about tn. thing which they
they wish avert.
In conclusion permit to say thai indulge neither
n cxtraNacancc Of speech undue h2tt"y when say
that the cou.-s followed By the banks Of this great city
rhott the uasf weeks b0ol such commend
them to the good whe, Of every citizen Of the public
U,r. Ia, been displayed wisdom that ha- met every
,nefrency aud here the maintenance OF sound CONDITION
affairs The part OF the banks has been constant
source Of Inspiration to all the country