The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-08-26
BANKERS ELECTED OFFICERS.
L. S. HILLS Is VICE PRESIDENT
FOR UTAH.
Western Men Deny the Statement
That the West Is Not Well Sup
piled With Banks.

Denver, Aug. 25.-The closing session
of the 24th annual convention of the
American Bankers association opened
with a full attendance, the election of
officers being the programme.
William L. Royal of Richmond, Va,
read paper on THE Need of Bank
ing Facilities in Rural Districts"
w. S. Wood of the National Bank
of Commerce of Kansas City condemn
ed the ideas advanced in Mr.. Royals
address, from first to last, He de-
clared that the west had seen enough
of currency issues by local banks. The
banking business, he asserted, was
highly developed all over the country.
In the east large commerce had led to
the establishment of banks of large
capital, while III the west smaller COM
merce had been satisfied with smaller
banks. In the west banks ere too
plentiful. Competition had been so
excessive that the banking business is
not profitable and consequently in
many cases not safe.
He advocated the branch bank sys-
tenn as the remedy for the trouble.
Large city banks should absorb little
country banks: then plethora of
money could not exist in one locality
while an unsatisfied demand existed
in another.
Mr.. Bonebrake of Kansas disagreed
with Mr.. Royals assertion that coun-
try districts lack banking facilities
especially in the west. He quoted
figures to show the amount of money
in the hands of country banks in
Kansas.
John p. Branch, president of the
Merchants National bank of Rich
mond, Va, disagreed with all sugges-
tions. He favored permitting country
banks to issue currency on the same
terms as city banks.
George A. Reynolds, cashier of the
Continental National bank, Chicago,
ILL.,, followed in paper on Uniform
Laws for Holidays as Well as Days of
Grace"
John w. Faxon, assistant cashier of
the First National bank of Chatta-
nooga, Tenn, followed in a paper on
Banking as it Relates to Industrial
Developments
W. S. Witham of Atlanta, Ga, fol-
lowed in an address on THE Country
Banker
OFFICERS ELECTED.
The nominating committee then
made its report. which was adopted.
The officers elected are as follows:
President, George H. Russell, presi-
dent State Savings bank, Detroit,
Mich. First vice president, Walker
Hill, president American Exchange
bank, st. Louis, Mo.
One vice president for each state, in
Guiding the following:
Arizona, H. B. Tenny; California.
F. c. Howes; Colorado. J. A. Hayes;
Idaho, HI. n. Coffin; Montana, F. B.
Weierick; Oregon, c. II. Garfield;
Utah. L. S. Hills; Wyoming, G. H. !
Goble; Hawaii, S. M. Damon.
Members of the executive council for
three years: Charles R. Hannah,
Council Bluffs, Ia; Homer w. Mccoy, |
Peoria, Ills; S. R. Shoemaker. Hunt
town, o.; A. P. Wolridge, Austin, Tex;
Jones, ST. Louis, Mo-;
j. c. Mitchell, Denver; ]. G. Brown, |
N. c.; H. L. Burge, Boston; |
Bradford Rhodes, New oYrk.
The officers elected were then duly |
installed. The retiring president Mr.. |
Joseph c. Hendrix, was presented with |
the association. The convention adj
journed sine die.
At the meeting of the executive
council, held at the Brown after the !
adjournment of the regular meeting of /
the association, Alvah W. Trowbridge /
of New York was reelected chairman
of the council; James R. Branch of
' II > ma, oCNIClc1 anu NJ.
olds of Chicago, treasurer.
The question of choosing a city for
the next annual convention was de-
ferred until the spring meeting of the
council, which meeting viii occur in
New York
There were receptions to the dele
gates and their friends this afternoon
at the home of President C. B. Kountz
Of the Colorado National bank, at the
Overland Park Club House and at the
shelters.
This evening an excursion left here
with several hundred of the visitors
TO take in Colorado Springs, Pixies
Peak, Pueblo and the Cripple Creek
district.