Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-08-26
THE BANKERS ADJOURN
Before Doing So, However, They
Hold an Interesting Session.
". |, ROYAL AND J,P. BRANCH,
Two RiChmOnderS Take Prominent Part
In the Days Discussions.
j. X. BRANCH NEGLECTED. sECY.

Meeting-PIace Deferred.

DENVER, COL, August 25.-The clos
convention Of the American Bankers As
sociation opened with a full attendance,
the election of officers being on the pro-
gramme.
After prayer, William l.. Royal, of
Richmond, Va, read a paper on "The
Need of Banking Facilities in Rural Dis
trcts."
Mr.. Royal advocates a system Of State
banks. which would enable the farmer to
enjoy banking facilities equal to those
now enjoyed by businessmen in the
cities.
ROYALL.S IDEAS CONTROVERTED.
W. s. Wood, Of the National Bank of
Commerce, of Kansas City, Mo, con-
demned the ideas advanced in Mr..
Royalls address, from first TO last. The
banking business. he asserted, was highly
developed all over the country. In the
East large commerce had led to the es-
tablishment Of banks Of large capital,
while i'm the West smaller commerce had
been satisfied with smaller banks. In the
West banks were too plentiful, competi-
ton had been so excessive that the bank
ing business is not profitable, and conse-
quently in many cases not safe. He adj
vocated the branch-bank system as the
remedy for the trouble.
Mr.. Bonedrake, of Kansas, disagreed
with Mr.. Royals assertion that the coun-
try districts lack banking facilities, espe-
cially in the West. He quoted figures to
show the amount of money in the vaults
of country banks in Kansas.
]. =. BRANCHS VIEWS.
John p. Branch president of the Mer-
chants National Bank, of Richmond. Va,
disagreed with all these suggestions. He
favored permitting country banks to Is
sue currency on the same terms as city
banks.
George NJ. Reynolds, cashier Of the Con-
tinental National Bank of Chicago, fol-
lowed in a paper on "Uniform Laws for
HOLIDAYS. as Well as Days of Grace"
John w. Faxon. assistant cashier of the
First National Bank of Chattanooga
Tenn. followed in a paper on Banking
as II Relates to Industrial Development. 3"
w. s. Witham, of Atlanta, followed
with an address on "The Country Bank
er."
NEW OFFICERS.
The Nominating Committee then made
its report. which was adopted. The on
GERS elected are as follows:
president. George II. Russell, Detroit
Mich.
First vice-President, Walker Hill, St
Louis, Mo.
Members of the Executive Council for
Three Years-Charles r. Hannah. Council
Bluffs. Ia; Homer w. Mccoy, Peoria, H.
S. r. Shoemaker. Huntingdon, Pa; r. Me-
Curdv. Youngstown o.; A. p. Woodbridge
Austin. Tex; Breckenridge Jones, St
Louis. Mo-; j. c. Mitchell. Denver. Col; ].
G. Brown. Raleigh. n. c.; II. l.. Burge,
Boston. Mass; Bradford Rhodes, New
York.
Among the State vice-presidents are the
following:
Florida John T. Dismukes; Georgia, l..
p. Hillyar; North Carolina, John NJ. Mil
Ter. Jr; South Carolina, j. a. Brock; Nir-
ginia, Alexander Hamilton.
PUNCH-BOWL FOR HENDRIX.
The officers elected were then duly in
stalled. The retiring president, Mr.. Joseph
C. Hendrix, was presented with a silver
punch-bowl by the members of the asso-
citation.
The convention then adjourned sine die.
SECRETARY BRANCH REFLECTED.
Al a meeting of the Executive Council,
held at the Brown Palace Hotel, Alva w.
Trowbridge. Of New York was reelected
chairman of the Council; James r.
Branch. Of Virginia secretary, and q. NJ.
REYNOLDS. of Chicago, treasurer.
The question of choosing city for the
next annual convention was deferred un-
nj the spring meeting of the Council,
which will OCCUR in New York.