Willmar tribune., 1897-08-24
AMERICAN BANKERS.
They Meet at Detroit to Discuss
Important Topics.
The Country's Leading Financiers
Listen to Interesting Addresses
from Gov. Pingree and Ex-
President Lowry.

Detroit, Mich, Aug. 1s.-The spacious
opera house was filled to, overttowlng
Tuesday morning at the opening OF the
twenty-third annual convention OF the
American Bankers association. Inc
retiring president, Robert J. Lowry,
president of the Lowry Banking COM
pany of Atlanta, Ca, called the gath
ering to order promptly at ten o'clock
In its representative character the con-
vention is even more influential than
last years gathering at St. Louis, every
section of the country being largely
represented by the presidents, cashiers
or other officers of national and state
banks. On the platform were seated
many inanciers of international repu-
tation.
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
E. 81. Butler, chairman of the Detroit
clearing house. for the bankers of the
city and state.
President LOwry's Address.
President Lowry combined his re-
sponse with his annual address. After
making eloquent response to the ad-
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 baser metal as the
basis on which a sound currency should
! rest. The recent discoveries of rich de-
posits 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-
proval Of our action by Providence. It is
| a matter of congratulation that after q
| heated canvass and discussion Of nearly
a year the people Of the country, through
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 re-
| stored.
This assertion needs no argument to es-
| tablish its truth: it 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-
passing through the deep waters of de-
preston. This we al! know and fully
realize, yet. while we hope and feel that
we are now where the bottom can be
touched. and while " 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
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 r. Branch, of New York city, fol
lowed.
The paid up membership. August 10. 1897
was 2,813 against 2.196 in 1896. The annua
membership dues paid for the year ending
September l. 1896, to August 10, 1897. were
The roll now EN- braces:
National banks................... As;
! State banks. ACKNOWLEDGEMENTS. 75
Savings banks. ................. "a
Trust companies. s........................... 13
Private bankers. ACKNOWLEDGEMENTS. ~
with combined capital and sur
And aeposits f.. of:::. s97a ~ 'Sys S9a II II
This does not include the capital and de-
posits of 225 private bankers. who make nc
statements.
i Tr~prn tn