The times. [volume] (Richmond, Va.) 1890-1903, 1897-08-20
The AMERICAN BANKERS.
The Session Closes With a Burst Of
Patriotism.
BUSINESS TRANSACTED WITH A RUSH.
4 Spirited Contest over the Election Of
Vice-Prcsident An Interesting
Paper ON the Benefit OF
Small Banks.

twenty -fuiIa hhhuAi ''iAF'i't'''' w
American Bankers Association, came TO
a. end az O'Clock this afternoon
According 10 the usage in eiecting a
president. first Yice-Presldent Joseph
Hcncs... OF New York. was raised 10
the onlco OF president Jos. Russell, Of
Detroit. received "a large number of the
voi.s cast Tor vice-presi1ont although
th3 nominating committee had recon-
m,ndca p. vs.. Tracy of Illinois, for the
honor.
Business was transacted with rush
to-day. o. uunber of papers having been
cauiCd over from yesterday. Several
papcis wefc ordered printed without be-
ins ead.
Luncheon at the great disunery Of
Hiram MaiHcr d sons. at Walkervlle.
Ont, aud % boat ride 10 Dcs-Chrec-Shos-
IA. his afternoon, wound up the social
features Of the meeting.
sWhilc az W alkcrviue several impromp-
"a speeches were nude
Retiring President Lowry responded 20
repeated calls. and was followed in rapid
succD ssiu1 Ly hessrs. Hendrix, Russell,
Lcathcrs. Powers Jordan and Others.
BURST OF PATRIOTISM.
the Americans Bankers Association ter
minated in combined burst of patriot
ism and good fellowship. cries OF aCcla-
nation .Or thc stars and stripes and
God save the Queen rising together
from thousand throats. The band
played Dixie" and Yankee Doodle" al
tcrnatciy. aud the delegates from all
sections OF The country united in pro-
nouncmg tho convention of 1885, an un-
qualified success.
The gathering was called TO order
promptly az O'Clock ana tne reading OF
papers left over from yesterday taken up.
Tie question what legislation is need
cd in respect 10 the currency was dis
cussrd in am interesting paper 10y y. h.
Van Slyke. president OF the First Nation
al Bank Of Madison. Wis. The speaker
thought reforms. 10 be permanent should
Doe gradual rather than radical ana in
ths direction dee suggested as the first
important step "a currency reform by evo-
luuDu-the retirement OF the troublesome !
Rrtfuback and the treasury nOtes-a float |
iug debt and the practical business meth |
od OF funding this debt into three per cent |
government bonds i'm denominations from |
nifty 90 thousands Of dollars each
savings Banks was the title of "a pa |
per read by Myron II. Herrck. OF Cleve- !
lanG.
Harvey j. H1llister. president Of the |
Grand Rapids Clearing House spoke on |
. organized capitali its Privileges and Du- /
tIta.
Bradford Rhodes of Mamaroneck. n. Y,
discussed the question Are Clearing |
Houses for Country Checks PracticalY'
SMALL BANKS.
Nr. A. Cunby Jordan. of Columbus. Ga,
the question. Whether Ma |
I .onal Banks of Less than $4,000 Capital
Would BE Benefit 90 the Country"
lie argued aiiimatively.
Things financial are sadly out Of
joint, he said "If slight amendments TO |
Existing laws VIII uelp Go right the wrong,
in Heavens name lct us urge them.
III We arc 60 continue the unscientlGc
basis Tor bonds let the banks regulate 50.
With SZ5Vp as minimum of capital
there would De iuduCcmcnt enough to /
plant national bank wherever one was
needed and outside capital would great
Iy aid in this work.
That the needs OF the county require
some small banks Is indisputaDly proven
by the statistics OF their organization
Since January, 1893. 2i5 national banks
nave been oreauiIcd. or these 40 per
cent. ONO have been 500 n01 and under !
ana OF these lNeN have been OF the mini |
mum capital allowed by law-S5O.O0O. I'm |
fairness. in business and I'm wisdom iet
lur laws settle the currency question.
and the South at least will llaze It's own
road 20 riches.
BRANCH BANKS.
Would branch banks be beneficial or
o the reverse %. was discussed by william !
= Conwen. president Of the City Bank,
Buffalo. n. Y.
Frank " Tracey. president OF the First
National Bank Springfield. H., read a
iapcr ON the subject. What Can BE Done
0 Increase the Usefulness of the Ameri- |
.au Bankers Association
Papers followed on currency Ship
nenfs o( REGISTERED Mail" by Charles r. !
iannau. president OF Iowa Bankers As
ociation; Express Money Orders 10y |
I. H. 1lulycr. secretary Of the Georgia |
Bankers Association.
Those papers prepared by Lawrence y.
Kemp, Of Maryland and IT, Pu Hen, OF |
>cw York were withdrawn 10y their
wnors on account of the latencss OF the |
lour and ordered printed
CONGRESS MEMORIALItED.
A resolution WAS adopted by the con-
.cntion urging Congress promptly 20 pro-
'de FOR "a competent, non-partisan cur
ency commission. TO the end that
Ound financial legislation may speedily
Regret az the death Of tho late Wlr'am
D. ST. John. or New York city. was eN-
'rcefcd in q resolution of regret lN y.
B Van Slyko Joseph q. Hendrix. ot Now
FORK. was elected president Without "A
isecutiug vote.
Tho sailing was not so smooth when II
anne TO the election Of first vicc-presi-
eut For this place tho Nomination
'ommitcc presented the name of Frank |
v Tracey or Springfield. ILL.,; Frederick |
Y Havoc. Of Detroit also nominated
ieorrc 10. Russell of this city Mr. Rus
IN was elected receiving 205 votes 90 100
asst for Mr. Tracey. The secretary was
Instructed tn east the ballot Of the con-
cntion for the state icc-presi1onts and
ne Executive Council Members Of the
Executive Committee elected j. O.. Can ,
on New York. T. w Huntington Ohio.
} j. Lowric Georgia; j. b. Findlay.
j. G.. Sands. West Virginia
The list OF members OF the Executive
'ouucu named boy the delegates OF the
arIOus State associations are. Il. c. Bige-
NV Wisconsin. J. j. Branch. Virginia; | {
D. w. Garret, Missouri: a. W. Campbell, |
fissieqlppi. j. e.. Hunter. Pensacola s
With n handsome gavel the installation | I
an "a handsome Gavcl the installation {
OFFICERS proceeded, and the convention |
hen adjourned. s
After returning from Walkerville tho y
Executive Council held a meeting tonight ]
nd reelected Secretary James 7. Branch !
, serve another year AT the same time !
be council voted 10 raise the secretarv's
aiary TO 5000 year, the move being
lade 20 retain Mr. Branch who had re-
rived an inviting offer from a metro !
Olitan bank.
20 succeed William II. Porter \
? New York Alva Trowbridge. OF the l
ltfer city was reelected chairman OF ! q,
he Executive Council
OFFICERS or THE EMS.
rand Exalted Ruler Detweiler APRON n
Deputies Committee Assignments. C