The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1897-08-25
AMERICAN BANKERS.
They Meet at Detroit to Discuss
Important Topics.
The Country's Leading Ffnancfers
Listen tn Interesting Addresses
from Gov. Ptngree and Ex-
President Lowry.

Detroit, Mich, Aug. 1S.-The spacious
opera house was filled to overtiowing
Tuesday morning at the opening OF the
twenty-third annual convention of the
American Bankers association. The
retiring president, Robert j. Lowry,
president of the Lowry Banking COM
pany of Atlanta, Gu, called the gath
ering to order promptly at ten o'clock.
Prayer having been offered by Rev.
Henry A. Shapman, of the Society OF
Jesuits, president of Detroit college,
the roll of delegations was called and
welcoming addresses were in order.
Gov. Pingree spoke felicitously for the
state, Mayor Maybury for the city and
L. ii. Butler, chairman of the Detroit
clearing house, for the bankers of the
city and state.
President Lowry's Address.
President Lowry combined his re-
Spouse with his annual address. After
making eloquent response to the adj
dresses of welcome, he said:
"One year ago this association in annual
convention at st. Louis declared most en-
phatically that gold was the only safe
standard of value and that this great coun-
try, ranking as one OF the foremost COM
mercial nations OF the world could not join
with other nations Of lower commercial
rank in fixing on a baser metal as the
basis on which a sound currency should
rest. The recent discoveries OF rich de-
posts of gold throughout the world and
renewed energy given to the gold mining
interest in Arizona, Colorado, Georgia and
other states Of the union indicates the ap-
prevail of our action by Providence. IT is
matter Of congratulation that after
heated canvass and discussion Of nearly
~ x.l< 1t he afrNr
the ballot box, fully and completely In
dorsed your position. The results that
were reasonably expected TO follow this
action of the people are being slowly but
surely realized: confidence, the foundation
of all commercial prosperity. Is being
stored.
This assertion needs no argument to es-
tablish it's truth; II can be seen and felt
by all who are not blinded by prejudice and
whose sensibilities are no. calloused by
ignorance. No one will deny that our coun-
try for the last several years has been
passing through the deep waters OF de-
preston. This we all know and fully
realize yet while we hope and feel that
we are now where the bottom can be
touched, and while we earnestly wish to
reach the shore Of prosperity. we want that
prosperity to be based on the firm founda-
ton OF confidence. We want nothing spo-
radio, nothing sectional: no prosperity OF
a class, but general prosperity; prosperity
not only for the banker, but for the mer-
chant, the manufacturer, the farmer, the
mechanic and the laborer: in a word, we
want prosperity which will reach out and
touch every section industry and business
in this great country. To this end. gen.
tlemen, we are working, and this end we
will most certainly reach by honest. united
and continued effort.
Secretary's Report.
The annual report of the secretary,
James Il. Branch, of New York city, fol-
lowed.
The paid up membership. August 10 1897
was 2.S13 against 2.196 in 1896. The annual
membership dues paid for the year ending
September l. 1896. to August TO- 1897, were
$50, 80. an increase of $22.047.H
The roll now embraces:
NatlOnal DankS.... sos
state banks. ........... loh
Savings banks. Z4I
Trust companies. ......................... ~
Private bankers. .......................... 20 /.
Total ..........................
With combined capital and sur -,
plus or. .................'. syy4 bUI, l5S
And deposits of................... 3,17s ,S32,l40
IOtal .of oSo
This does not include the capital and de-
81 "a ha nj W a m a ka M