The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-10-21

nlmself because he liked to talk to an ins
lelhgent man and liked TO hear an intelli-
gent man talk. He spoke of the fact that
business TO organize, and called upon the
president of the association, Allen NJ.
Piescher TO respond to the toast of tina
Mr.. Fletcher started by saying that tha
lesson OF the past four years had been that
the bankers of the West must do business
WITH each other rather than through New
iork The great lesson of 1898 had been
that they must hold their reserves nearer
nome. 1t was well to meet and Look each
other in the face occasionally. They had
learned that statements did not always
state facts. that examinations did not all
ways examine. They must learn to know
each other personally for now, as ever.
personal honesty is the foundation of good
ans believed all the Journal says about the
democratic party Democrats believe all
the Sentinel says about the Republican par
ty, and independents believed what the
News said about both parties and even
some of the things 1t said about itself.
daughter and applause He assured them
that they were safe in the city so long as
they refrained from discussing local poll
MR. PAcKARD's TOAST.
Bank Examiner o. NJ. Packard respond
ed to the toast of National Banks After
a few illusions of a personal nature, he
declared that the old prejudice against ma
tional banks was passing away lie point
ed proudly TO the fact that during the de-
preston since 1898 of the ZIG national banks
in Indiana. representing 500, 100000 of capt.
tai, only five had suspended, and three of
these had promptly resumed while one
other had paid about so per cent.
Mortimer Lowering was called upon for a
response on private banks and made few
hard hits at national banks in a facetious
way He said it was a snap to run ma
tional bank. Everybody goes to sleep and
thinks the government is taking care of
theani the government goes 10 sleep and
thinks the examiner will take care of the
bank. The examiner comes along and
KNOWS the signature Of every man in town
and makes q valuable examination But ey-
erybody watches the private banker and IL
ne drives fast horses or has good time his
depositors grow suspicious. Thus he ran
along with good-hum0red sarcasm and
good stories that kept the tables in roar
of applause and laughter.
Mr.. Tomlin, of South Bend was asked to
respond TO savings banks. He declared that
there had never been a failure OF savings
bank in Indiana and said that the very
small number of savings banks in the State
was due to a lack OF favorable legislation.
He talked at some length of the Industries
John r. Frenzel responded to the toast of
the trust companies. He said they orSi-
mated from the necessity of somebody 20
trust. Theoretically, it nad the functions of
a guardian trustee, assignee, receiver and
other things and sought to assemble these
into harmonious whole Their history was
comparatively recent and had clear rec
ord. They grew out of q necessity not cared
for by banks. II was of vital Importance to
community to have machinery for taking
care OF the more sacred tductary affairs,
such guardianships. They had however,
branched out into larger field of useful
ness in taking care of corporations in diff
culties and making long-tim loans, things
banks could not undertake. One thing he
regarded as worthy of the attention or
bankers was the fact that trust comna-
MES are more successful In the way Of
profits than banks Their service seemed to
be recognized as worthy Of more compcnsa-
ton. He believed that competition had re-
duced banking charges below the line of
prudence. This tendency had not appeared
in the trust business and they offered an
example that the banks might well copy.
1t was a general mistake of bankers 70 do
too much business for nothing. They do
not, he thought discriminate properly in
selecting the men with whom they shall do
business
w. II. Fl. Miller was asked to give a
lawyers view Of banks and bankers. lie
spoke of the general uLpopularfty Of critics
and told what a lovely time the average
lawyer has in figuring out the meaning OF
current expenses and taxes paid" were
set down among assets. He asked what
they could realize a tax receipt. He fol-
lowed with various criticisms upon the
form of statement used and the methods
OF bookkeeping in vogue.
Other toaStS were responded to by Rev.
nj. l.. Haines and A. C. Harris, of this city3
Eph Marsh. of Greenfield; George H. RUS
sell, of Detroit: w. r. Fenton, OF Chicago,
president of the Illinois association, and III.
G. Adams, of this city.