New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-07-18
STATE BANKERS MEET.
IN THIRD ANNUAL CONVENTION At Nj
AGARA FALLS.
PRESIDENT JAMES @. CANNON TALKS of i"''
,rspoxs,puIry OF INpIsCREET BANKERS
FOR THE PREVAILING FREE
SILVER CRAZE.

FOR THE PREVAILING FREE
SILVER CRAZE
>,.,o-, r-aYs \ Y. July l7.-The third annual
convention Of the New-York State Bankers AS
.,c,at on IVES called to order at the lnterha'0""'
n,rnlng by President James c. Cannon
o. New-York. who delverei MS aii'u"'
Tho association. he said. WAS IN nus" W. -,
prosperity and It's growth duf'',s "e as +, .be
demonstrated its usefulness and Importance j" tne
o,,ro.,on ~ the blnkers OF the STATE spea"ns
Of banking generally. Mr.. Cannon Faia;
The dispensing OF credit Is a subject tns' = 30
curing more and more ats'E1 vr ce 10 their de-
.,or 'bejr s;ockh oders and them'elNes mus
pr bsl,ef tha, is held IN quarters
tSo- the commercial Interests OF ms CUM .. SSna
nand an ngre@ Wha at We med is not currency
but better and more comprehenS aDSinr and
credit are clearly Demonstrated end ms ,tnNr, ~
thoroughly satisfied Of his soivencH anu "p No ID aim
cu;v in Obtaining all the funds necessarE , to-
his :sSi,mrSS "a lures in which the banker, OF
NewYork civ were interested which occur g. Ip gs
ing o hf rst 70 S' S6o An nyestgaon Of the
causes which led to these failures o'sS 81 ne con-
Iar1 'I hat gave detailed statistics we're not IN
position to deserve credit eaTnessN ~, IUpe active
s,ens 10 secure such legislation as viii protect Its
members against fraudulent assignments
In concluding his address, President Cannon saio'
,a., w., ! cannot clos. these remarks without
reference 10 the suhec, that IS uppermSs r IN srs
mind of banker in ne Sta,s ne az oa standard
or va,ue r~a the question occurs 10 ne Are we IN
eav wse hlsmewor hv for the growth Of the free
~ of tnnl;ers have perhaps uncoNsc'ousIy con.
tr'on we hcr-"r,.nr Lass Too frequently when
tredes.nn former goes to ms paSe, ~ MAJ
mere IS scarcity Of money or he Is lntorm meU
ths because % ne sry b 81 IL 0ney poor pocy to
pursue osnec'aSv " money is rot sT,rce,
banker should raher carefuy stndS h we retusir
advances SHOULD frankly and honestly give MS
for 50 doing If farmer arm 30 IDf ~ ,ikely t.
ran .hus on, einC his banker 10 wait for rs
E ccr 49, n,it in more diversified crops. or II
produce something hs; will sol for cash, 80 ''i ~
If merchant 10 selling 20 a 80 "a ssbo,ld he eau
comrun " that is undesiIan-e ne Sn pi ~b,ect
In o.hfr words NE bqnkcr should be looked nnon
&c looked n,on nv his patients and there should
evlst he'wocn them the utmost commence. IL ~
1,'ne "a customers and borrowers careless
and advised remarks made by osnkers, Se'I ~
cina1 NAVY farrnc- anl urodrcer. who would
otherwise have raa rcd so'nh Vews en- In ~
Sg.sOn to follow the "s've 'ree-S'Ve' "''-0 tine"
The bankers OF this country are Us largest debt
ors ard II e 20 their honor that they nave s'o'n
like a solid wall repelling the frse-silver attacks
.ba, have made serious inroaGs in the ranks o.
o.,er debtors We believe in laws. freedom truth
and faj.h N God" and Il behooves us 10 stand firm
In our demands for honesty in commercial ana'rS
for homes. conduct and honest statements. for nom
est banking and for an "honest dollar
The report of the treasurer showed balance OF
ss,413 or hand During the wear several banks
dronned ont of the association but the NUMBER "nich
1oined during the period greaiy eNceeueu
those which withdrew The increase for the year was
fortve,x and me total representation IS 4"- WIZ"
q tbree-f,urths or more Of all the banks IN the
State 90
s,ygest,or that the groups be rearrangeo SO
that earh group may contain one large city Will be
acted on late'. ,,
The nomination Of officers resulted as foliows
For president George 3. Scan. Oswego' ana oe!
,nour Dexter Elmira. for vice-president ;. NJ
c,isv.oia BROOKLYN end A b. Hepburn New-forK'
sec~etarv J Kennedy. Of Bufao; treasurer
M Van Inwegen. Of Port Jerv's and r W. D'he'
OF Rochester. The election will take pace 'o"''
so ~,
At the afternoon session addresses were n'aue W
= nelson vice-presdent Of the Seaboard Ma
,,o,al Bank Of Ncw-York on Restrictive lhuoIae
n,ents". hv seymour Dexter. Of Elm'ra' on Inc
Co,lect,on Of Country Checks and O'her Items
and nv John A. Kennedy, cashier OF the Niagara
Rank RuNaio. and Superintendent Kilburn. OF the
State Banking Department. on Bank hNanllia
lions" MI Kennedy confined himself TO private
examinations which he said should be as thorough
and efficient as those Of the Government
Superintendent Kiburns address was ueVo'eu u"
oaicial examinations. He said in part:
There are altogether TOO many banks %h VITO az, u
,.ctors are merely such in name. ana Who sre
i,.,le or no attention 10 the Danh aIidii ;,
,berefore can know but very little OF us pusilesn,
Men who cannot will not give reasonap ne
amount Of their time 20 BANK ousn' ~ - o.
,lcc.od directors and. if elected, OcEht not 10 az
cent the position This is not ne" SUI So f,nn ,
n has been made thousand tunes anu a. a.,
ignored wonder If it would not be good iGfa
f7r Inc Bankers Association 10 take up the SUI
tect OF directors for the purpose OF crtaunS 90
electing those ucn only who Will give tline anu a.
tenton sufficient TO make them fully acqqHa,in,ttu
with the affairs of their respsc'Ve trnnce 70 ali
by no means necessary WIN reietehCe o 70
bssrlrs FOR many of them recognize the hccessiI!
oS his and elect their directors on this principe
and with this understanding. ,,,a M
snectfullv suggest course which Is now plactIceo
TX good many banks with good resuitsne I.s
.0rnnittce whose duty 1t shall be 10 examine all
~ the assets Of the bank and especially us loans
and discounts. at least once In three oi'ls o' i
a month would be better. inquiring INTO ana IN
vsstieating any that they do not Know 10 ue soou,
and making list of such as they CONSIDER IN any
degree doubtful with sugsestlons aS b O consist
~ NOT loss than three five would p1ODabiy De nCt-
teri and after every examnaiion the nea1 oi IN. ne
one going out to be again added 10 the commute
IN his turn Thus every member OF the p"dr'
would examine consecutively during each term oI
his service the same number OF 'ii"e' do '''''
we're members Of the committee: $500.
I am not sure that law making TINS or some
such plan obligatory Ohe fact of its observance
and cashier. of the respective directors wouII
moi be a good thing Such course Wherever
adopted would. believe reduce losses 70 MINI
mum and make examinations by the department
less necessary and difficult.
THE AMERICAN BAR ASSOCIATION
Saratoga ~ y July 1.-THE nineteenth annual
Ilar will he