New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-10-11
BANKERS IN CONVENTION
TWENTIETH ANNUAL MEETING OF THE
AMERICAN ASSOCIATION.
THE DELEGATES WARMLY WELCOMED I'D "Ai''I
MoEE-ADDREssEs EY PRESIDENT WHITE
ID,


annual convention OF the American Bankers Asso-
citation did keep bank hours this morning Inc
convention called for 10 o'clock but there Were
not fifty persons In Ford's Grand opera Rouse "'
that hour. The front rows and boxes OF 'he opera
House rapidly Allied up after 10 o'clock me eX-
presidents of the association, members OF the
Executive Council and few members OF the Re-
ception Committee were grouped on 'he stag
around the president At 1890 O'Clock President NJ
NJ. White, OF Cincinnati called the convention u
order with Ravel made of wood taken from one
OF thirteen gum trees planted by Alexander ham
il;on the first Secretary Of the Treasury on WASH
ington Heights New-YOrk. and the Rev MdI'Die
D. Babcock. OF Brown Memorial Church opened
the proceedings with prayer Mayor Lairooe We
coined the delegates behalf az the city In the
absence of Governor Brown. John p. Poe AT
torney- General of Maryland, delivered an address
OF welcome. in which he said. IN part:
Among the many secular organized associations
extent and variety OF Influence equals yours. You
ciai hover OF m" Republic trust Therefore that
IN welcoming you 70 the Inequalities or our 'ltE;
not consider il aniss for me to @ugges, that YOU
render this meeting memorable by ihakihs dPt
Country your manrei convictions upon the
and absorbing financial questions.
When Enoch Pratt. the venerable chairman OF
the Baltimore clearinghouse Association came to
the front Of the stage to welcome the guests the
entire audience arose and cheered HIM .dr. frdt'
is the Oldest bank president in Maryland and one
OF the oldest In the United States. Mr. lratt salu:
AS president of the Associated Banks of Baiti-
more it is my pleasing duty to extend TO the Bank
ers Association and their ladies and frerIs cor
dial welcome and to thenk II and hen FOR the ST
power to, make your vl, and stay agreeable.
nepe y1a iSe exstenc Of the National banks
plan for which is to be submitted by one OF our
bank presidents
PRESIDENT WHITES ADDRESS
President White responded the addresses Of vel
1T in MART.
follows:
1t is pleasant duty devolving on me of bidding
you welcome to the twentieth annual convention
OF the American Bankers Association. II Is a
patent fact that the banking fraternity, coming IN
daily contact with those whose interests ana ocGu,
pations were most affected have weIdei a DGn ln
influence. stimulating and encouraging all ana ere
long the fires Of the 0rge and me , fSK 3 the an
We cannc, afford to have the soundness Oh our , cur
financial Obligations and should they be questions
of debate periods of unrest and business losses
selfish reasons can in question the LOYALTY OF our
citizens to wise LEGISLATION afecins mT a9 ,w
pertaining to financial Hesitation. II guiaed py
ought 10 be- second to none. and put it beyond me
power of men to overthrow the soivcnry OF me Na-
when presented, as desired, either in coin of the
country or It's representative ,,rssonce shall
not argue but boldly state that The -, Na;ional
banking system has been tried and not found wait
ing in it's adaptabiliiy to every citizen wherever
his lot may be cast ,u..no..o, :, .ho
mater GiS Prosperity Si 1 of the Country business
is inseparabl connected with the CONDITIONS non OF
tiers the status OF the people LEI us cher in
our n Due aHe S our and sy
tenn of exchange that will be the admiration oil
every nation.
Of the members Of the association were in attend
ance. and the rocall therefore dispensed
with The chairman OF the Executive Council
T. II. Puen. of New-York. read report whch
was received without remark. paper recon-
mending change in the constitution. Increasing
the number Of the Executive Council and creating
the Office OF second vice-president. brought ont
lively discussion participated in by many dele
gates The convention finally laid the paper on
the table The reports of the treasurer. secretary
and standing committees were read ana put on
ME- NEWSPAPERS AND FINANCE.
Colonol Mvron r Herrlck. president of Clevc-
land Ohio savings bank. which has a longer list
OF depositors than any other in this country ai-
dressed his fellow bankers on The Newspaper
Press and It's Influence on Finance In 1893. lie
said In part
VIC have grown to accept the NEWSPAPER as on.
OF the necessities of life It enters eyery depa RI
6sneneahie as the circulation of money. 1t sup
plies a natural, inherent want. The influence Of
comes directly in conjunction with in opposition
to our business affairs Last year the a'sn'i ION
tire civilized world, turned 10 the subject OF
finance That was What all the pSSpe %a n the
land ministered to the wants Of is constituents
nd ene banks MAS such as not to be- forgot
ten. To say the least it was m,xe4 4, oTSSi rIs
If the policy OF many newspapers helped 70 puhEe
US into difficulties, the policy OF others heipeu
The newspsper press of America is the one great
institution which belongs TO the people ana yet
to our free Common schools the noblest. the most
powerful Of all institutions that have grow OWL, ou'
pealng TO the prejudices. but 10 that better nature
which predominant in almost al humnn r DemSs
sibility for Justice honesty. truthuness ana so1d
faith takes on dyne sn for them
voices the people and when voices that whien is
best in tn. people may we not then truthi1Iiy say
that 1t expresses the voice and Will Of God?
JAMES G. CANNON's PAPER
AT the conclusion Of Colonel Herrick's address
the convention took a recess until o'clock. when
d. " Rleger. OF Kansas CITY discussed the re
sponsibility OF bankers to the general public lie
was followed by James G.. Cannon. vice-presldent
OF the Fourth National Bank Of New-fork, VINO
spoke on the question OF profit derived by bank
from each of its accounts. saying in part:
The value of bank account is laIseiy deter
The question OF activity is also important fac
tor II the pOGy Of many dPGqy' to n
to keep their ACCOUNTS IN funds anh 1eE doe not
eartake of ne nature Of benevolent institution;
that IT has been created for business PURPOSE aii
is entitled to remuneration for the services 1t
renders. , ,,, 49,. o..,,,,,
Every welregulated bank should have carefully
prepared by its discount department weekly
analysis Of It's loans and discounts and the dner-
ent rates which they earning, from winch the
average rate per month all the lodnable FUNDS IN
the bank can be determined. The accounts should
then be credited with the interest at the ayeTase
rate upon the actual working balance !Or the
snonth to which should be added all charges 10Y
exchange which the bank has made 10 us depOstor
during that time. The result Will be the gross m
come upon the account for that period. From this
amount should be deducted the actual cash which
has been paid out for effectng he collection OF
country checks. and II the account be an interest
bearing one the interest allowed for the current
month should also be taken from the gross income
You vii. then know whether the account IL yielding
gross profit a loss. II seems 10 me tina: the
only way by which one can arrive at the net proht
70 he derived from account IL to ascertain, hrst
the earnings OF tIe bank for any given month