The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-10-24
BANKERS rLFCT oFFICEKS.
Tho New York Group OF the State Association
Prospecting Finely.

INC SeW hoFh GROUP " inc bLhtO hnboclottOu
ProsperinE FINELY.
At the annual meeting yesterday afternoon of
the New York city group of the New York State
Bankers Association, held at the Downtown
Club. Gen. Thomas L. James, President of the
Lincoln National Bank. was elected Chairman
Of the group, succeeding Frederick b. Schenck,
President of the Mercantile National Bank.
Others elected were: Secretary and Treas
urer, Charles H. Stout, cashier of the National
Bank Of the Republic; Executive Committed,
stephen Baker, President of tho Manhattan
Company, Chairman; Alexander Gilbert.
President Of the Market and Fulton National
Bank; Charles Olney, cashier of the Bank OF
New York, National Banking Association; F.
/. Hine, cashier Of the First National Bank.
Retiring Chairman Schenck. in his report.
stated that during the year there had been three
events of special interest to the group. One OF
these was the dinner at tho Hotel Manhattan on
Fe6. 9. at which there were present more than
100 henderson, the group and fifteen guests, in
Guiding the Mayor OF the city. The sentiment,
Mr.. Sciienck SAID, seemed to be that the dinner
could wisely be repeated each succeeding year.
Another event was the Introduction into The
hegislature. by Senator Timothy Sullivan Of
all private bankers in the State. The bill slip.
uiatod that amy persons or firms who used any
monay on deposit should De known as private
bankers, and as such they were TO fe with the
County. Clerk a pond for the security OF depos.
So oAAA' N@n NAuti PcOOs "
were 70 be, required. All daily balances less
than 5000 during this year, prior to Jan. l in
each year, were to be reported, the total aver
aged, and the "ver4tse, plus IS per cent, was to
DC me amount OF the bond required. No bond
tess IMAM $4,000 nor more than 800, 600 was 10
DC 9 $icled. On. II failure to file such q bond
wlthih slN months private bankers were TO be
occurred to reiuIn al such deposits Of ioss
thah 5000, or 10 place The money In some saw
lngS bank TO the credit of the uepositor. Any
SLoiation ot HE requirements of the law was to
DC punishable, by Imprisonment not exceeding
one year In the pcnittntiary, or by n fine not
exceeding 1000, or both. The bill was amend
ca so as 10 exc npt from It's provisions all mem
hers OF the New YORK. State bankers AsSoci-
Following the Introduction of this bill there
were numerous applications for membership
IN me local group, which nccessitated several
spscihI meetings Of the Executive Committee.
ADMITTED 10 membership who were, In the
OPINION, OF the Executive Committee, supposed
70 ne dong a strictly banking business within
,ne meaning OF me paragraph in the consLi-
bgrahlp. twenty. four firms have thus oeen
admitted, The bll referred TO passed both
ho.sra OF me Legislature, but failed TO become
law after tho adjournment OF Inc Legislature
Tor lack. Of Tho Governors signature,
me utrd event Of special interest was the
i"urLh annual meeting OF tho New York state
IW "IVN' r ana MsGso,,n'99 a. Sara,oga Springs on
saI,ellhg than ever before. The retiring SEQ
fel'fI, Ct Group :, j, w. Hartman, cashier OF
We = ,dcI,nnnii National Bank, reported that
W. consisting Of 10 stale and national banks
shu 4 private banking houses, against a mem
nershii or - at The last previous annual meet
i mhe' nn me banks eligible TO men bership in
h'fihbtr' OF the association.
rpSIb, : HENDRIX, A. Is. Hepburn, and Brad
~ hh0les made addresses at the meeting.
"N''" was followed by n luncheon.