The herald., 1897-07-04
OFFICE OF THE HERALD,
Los Angeles. July 3. 1897,


The twenty-third annual convention of
the American Bankers Association will
take place at Detroit. Mich, on August
H. 1S and 10. and preparations on a large
scale are being made to insure success
full meeting. A full attendance of bank
officers from all over the country is prom
ised. Comptroller James H. Eckels will
address the convention, after which there
will be general SO-minute discussion of
banking topics. The subjects and the first
speakers are as follows:
a. Is credit bureau or bureau of in
formation, to prevent losses from bad
debts, feasible among banks? John H.
Leathers Cashier Louisville Banking
Company, Louisville, Ky.
(2) What legislation Is needed with
respect to the currency? John P. Branch.
President Merchants National Bank,
Richmond, Va
(3.) Savings Banks. Myron It. Herrick
President Society for Savings, Cleveland,
Ohio.
as Organized capital, privileges, and
duties. Harvey J. Holilster, President
Grand Rapids Clearing House, Grand
Rapids Mich.
(o.) are SledilHS IlouSeS loi SouHliJ
checks practicable? John c. Neely. Cash
Ter Merchants National Bank Chicago
Co. How would National banks with a
capital of less than $4,000 be of benefit to
the country? G. Gunby Jordan, President
Third National Bank, Columbus, Ga.
a. Would branch banks be beneficial or
the reverse? William C. Cornwell, Presi-
dent City Bank, Buffalo, N. Y.
Among the principal topics to be discussed
the third day are these: Comparative
profits of banks and trust companies"
opened by Lawrence B. Kemp, President of
Commercial and Farmers National, Balti-
more; "What can be done to increase the
usefulness of the American Bankers AS
sociation?'' opened by Frank w. Tracy,
President First National Springfield ILL.,
The right of a bank TO return unpaid TO a
depositor the same day check on it's own
bank already credited to that depositor
will be discussed by e. H. Pullen vice.
president of the National Bank of the Re-
public, New York, and others. and the
express company question will be taken
up by l.. p. Hillyer, secretary of the
Georgia Bankers Association.
Preliminary statistics regarding immi-
grafton appear to indicate that there will
be a falling off of not far from third of
the total volume as compared with last
year. At the time the figures referred to
were mGde up, some weeks ago, there had
been a decrease of over 105,000 that is,
nearly third as compared with the cor
responding period year before, and the
indications were that this proportion would
be kept up in the portion of the year re-
naming. While the volume of immigra-
tion is thus declining census Of opinion
regarding the desirabilty of legislation
further restricting it is being taken by the
American Federation of Labor The Off
GERS of that organization have sent out to
the different affiliated organizations a cir
cular requesting expressions of sentiment
upon this and other cognate questions and
have requested organizations which are
going to be represented at the Nashville
convention of the federation to ins struct
their delegates in reference to the matter,
SO that the opinions of the labor unions
may be expressed with definiteness at that
meeting.
The total number of immigrants that ar
rived in this country during the eleven
months ending May 8, 1897. was 2lO,27l. This
is decrease as compared with the same
period last year of 10509S.
y + 4
A recent decision of the Appellate Court
of Kentucky affects, more or less, all the
building and loan associations doing bus-
ness in that state. In its decision the court
holds that the remedial law enacted by the
legislature in 1898, and which authorized
these associations to charge interest not
exceeding 12 per cent including dues and
the 'egal rate, is unconstitutional 1t is
further held by the court that all the inter-
est, and even dues in excess of per cent,
are usurious and cannot be charged.
4 \
The official monthly report of the San
Francisco Stock and Bond Exchange for
June shows the following actual transac-
tions during the month, with the unmber
of shares sold:
No. Price during
shares month.
Bonds. sold Low Hieh
Market st. Gable Co... 1000 124% 125