New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-07-16
ASSOCIATIONS AND THE LAW.

After the transaction of some association bust
ness Mr.. Larkn delivered his annual address. He
said in part:
In 1890 law was placed on the statute books
lions of the National stripe from other States
from doing business In this State, and in 1894 law
more associations OF this character In this State
But nothing has been done restrict those already
the a% of rG 1884, ns it IS for you to
whether anything should be done in the matter
to-day as 1t did seven years ago and the evil stu
and b we should e. on aga as GP
with promises Of enormous earnings and the Dor
name Of Of b"dns loan or
on the other hand there are many IN lou, our Own
grave apprehension on every innovation or improve
ment. and are apt cry National to every asso-
card old-fashioned ideas and lot of red-tape In
the conducting of their business Associations IN
the cities of NewYork and Brooklyn find it hard
to conduct their business on the old lines; and
have found it necessary 20 adopt more business
like methods which has entailed more expensive
management, but this IS not. In most cases. bad
thing for the nor does mpy h
National camp. We have doubt when changes
the associations they have been found necessary
The following are a few OF the characteristic
Extortionate entrance and withdrawal fees, loan
ing in extended territory and in other States
Is nothing but a legalized system Of robbery and
forfeit Of deposits under certain conditions, TO say
vents the shareholders from having voice in the
SELECTION Of the managers OF the corporation,
loan associations cannot be denied, and would call
your M to what h "a o0 IN
some plan ought to be devised to tighten the same
ments The withdra wing member Should be treated
more literally than he is in most associations, and
the entrance and withdrawal of members should be
made as easy possible. Fines should be made
lighter thar they are in most serial associa tons
but II would not be good policy to do away with fines
altogether as in many permanent associations. In
most associations there seems to be too much red
tape in the transacting of business especially In
the matter OF granting loans and the paying OF
Withdrawals.
with more simple and business-like methods and
equity between the borrower and investor
the movement is bound to grow IN favor and be-
more useful 10 the community.
COMMITTEES APPOINTED.
The chairman appointed the following committees:
Committee on Credentials-W. J. Gardiner. Of
New-York City: Johl H. Lynch. OF Albany DR.. T.
s Thorne OF Brooklyn: Colonel William NJ Bloome
Of Buffalo and Avery Kinsman. of Rochester.
Finance Commttee-Iames Ward. OF Emira: John
s. Ogilvie OF Brooklyn: f. NJ. Cutter. Of NewYork:
l.. II. Burdck OF Albany and Bernard McDermott
OF Utica
Committee OH Resolutions David b. Hutton and
Walter J.. Durack. of Brooklyn; Robert Brown a-d
Martin Cohen OF New-York Charles II. Rodgers. OF
Buffalo; John II. Lynch. OF Albany, and James
Wheeler. OF Staten Island.
The afternoon session taken up with the dis
cussion of various matters Of interest TO the asso-
a
Among the Brooklyn delegates present were
Charles A. Weber Alexander Ray. J. Addison
Robb James Hay. H. Il. Lyons. J. j. Ennis. John q.
Porter, ex-Assemblyman Walter A. Durack John
T McKecknie. David II, Hutton. J r. Lovely. John
8 Ogilvie Frank l.. jenkins and &. orc lfennessey.
SOUND MONEY FAVORED
II was said last night that at one OF to-day's
sessions resolution will be introduced condemning
the platform and candidates Of the Democratic Ma
tional Convention. and declaring that the senti-
rnent OF the members favors the support OF Nc
Kinley and Hobart The State association has
never touched upon political topics in past years
but there Is said 10 be an overpowering sentiment
In the association this year In favor OF ringing
declaration in favor OF Mckinley and sound money.
In the evening the association went to Timer
Park where the members and their guests enjoyed
a bolntiful dinner. for which 2t0 covers were laid.
Speeches were made by John McKechine. chair
man OF the Entertainment Committee. who pre-
sided: President Larkin. OF the State League John
V Sabine Of the Metropolitan League. of this city.
William Lee Of Brooklyn: Colonial Bucklen Of
Buffalo Avery Knsman. OF Rochester: Walter
briggs OF Schenectady: Professor A. r. Haskins. OF
Poughkeepsie and David 3 Hutton OF Brooklyn.