The record-union., 1894-02-23
Annual Meeting of the State Bank.
erS Association.
IMPORTANT FINANCIAL QUESTIONS
UNDER DISCUSSION.
Interior Bankers Desire q Modifica-
tion of the Rule Relating to the
system of observation-disclosures
Which VIII Occupy the Delegates
Attention To-Day.
Special to the RECoRD-UNIoN

Special to the RECoRD-UNIoN.
SAN FRANcIsco, Feb. 1.-The annual
convention of the State Bankers Associ-
alton was held in the Chamber of Com
merce rooms to-day. In the absence of
Mayor Ellert, Lowell White of the San
Francisco Savings Union delivered the
address of welcome.
President Hellman of the Nevada Bank
followed with an address which dealt
largely with the recent financial crisis
and tight-money period that followed it.
1--WE can be proud of how we'll our
banks have weathered the stOrm," said
he. "Our banks have stood better than
those elsewhere, owing largely to the
wonderful resources of the State.
THE crisis affected US here in Cali
fornia in peculiar way, because we are
so far off from financial centers. Ordi-
narily bankers balances in New York or
Chicago could easily be transferred here,
but by reason of the great scarcity of the
circulating medium i'll the Eastern CEN
ters we were even refused by our CORE
spending banks in New \ ork to have
our own funds transmitted to us. An
other great hardship for California was
that the Treasury Department, which had
previously made transfers OF money from
New y York to San Francisco by telegraph,
had during the hight of the panic even
refused TO do that.
''It was SAID that of four banks that
have closed their doors permanently two
should have done so anyway. and would
have done so ultimately without the aid
of the panic"
Now that financial matters are easier
Mr.. Hellman urged the importance OF
| banks lending their aid TO manufacturing
and other enterprises. He condemned
the practice of permitting overdrafts. and
| said also a law should be enacted that
would prohibit a savings bank receiving
! more than $4,000 from any one depoSltor.
Commercial as we'll as savings banks, y
said Mr.. Hellman, ''are again feeling the
! favorable effect Of a change, and deposits
are on the increase, especially in mon
! eyed centers. | do not ascribe it entirely
! to the increase of trade, but partly to the
emptying of stockings and the depicting
| OF sate-deposit boxes from the coin lodged
! therein during the panic"
| The Treasurer of the association, George
! ". Kline Of the First National Bank of
! this city. and Secretary Il. NJ. Welch OF
! the San Francisco Savings Union pre-
sented reports giving the dry bones OF
/ details of the work OF 1893. Receipts
/ footed up s., ,S59, and expenses left cash
! balance of S920. There are now 175 banks
| in the association out Of 200 in the State.
! Four banks were dropped during the
year for non-payment of dues. Six
! banks went into lquidation--the City
! Bank, Los Angeles; Bank Of Anaheim;
| Pacific Bank, San Francisco; Consoli-
! dated National Bank, San Diego; Bank
| of Oceanside; Bank of MADEIRA.
Committees were named as follows:
! Nominations-E. K. Hamilton, Sacra-
mento; c. w. Bush. Woodland; z. E.
Bowles, Oakland; L. w. Burris, Santa
| Rosa; L. P. Lukens, Pasadena.
Resolutions-Frank Miller Sacramento;
| IT. w. Wright. San Jose; ii. II. Hewlett,
! Stockton: c. S. Brooks, Marysville; A.
! ii. II. Schmidt. San Francisco.
Auditing-W. E. Gerber, Sacramento;
J. NJ. Elliott, Los Angeles; o. McHenry,
Modesto.
w. +, Gerber of Sacramento called at
| tention to a desire Of interior bankers to
have a conference and hearing with the
| management of the San Francisco Clear
ing-house. 4 modification of the rule,
recently enacted bv the Clearing house.
| abOlishing the system Of OverdraftS, is
desired on the ground that the stringent
| enforcement of details is unjust to in
| terror banks.
Mr.. Hellman, presiding, said he would
decline to make any suggestion TO the
| Clearing house relative TO the matter un-
| less so Instructed by the convention. He
| thought the overdratt abolition action
! should be final.
This opinion excited Railroad Commits
sioner Beckman, who is President of a
! Sacramento bank, and he moved that the
convention request the hearing that Mr..
| Gerber asked for. The motion was carried
! unanimously.
! The convention will reassemble to-
| morrow at 10 A. NJ.
| Among the papers on the programme
| TO be read before the convention are the
| following:
Unsecured Loans-Time Versus De-
mand." Frank Miller of Sacramento.
Savings Banks and Their Dividends
| to Depositors," j. B. Lankershim of Los
Angeles.
! Savings Banks-Their Mission and
! Duties" Lowell White of San Francisco.
"Suggestions Concerning Certain
/ Changes in the State Banking Laws" j.
! NJ. Elliott of Los Angeles.
"a Plea for a Rational Currency Sys-
tenn" E. S. Sheffield of Santa Barbara
"How to Preserve the National Bank
ing SYSTEM" Henry Brunner of San
Luis Obispo.
"A Talk on the Financial Situation"
j. NJ. c. Marble of Los Angeles.
1.-The Bank Lessons of 1893" Benjamin
/ C. Wright of San Francisco.
1.-The Relations That Should Exist Be-
! tween City and Country Banks" c. w.
| Bush Of Woodland.
MORTON,s POSITION.