Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-08-24
AMERICAN BANKERS.
TWenty-Fouth Annual Meeting
Of Their Association
SECRETARY BRANCH APPLAUDED.
He Appears in His Uniform as Major
OF lmmuneS.
NEGOTIABLE INSTRUMENT LAW
Abolition of the Days of Grace
Study of Financial Systems in
Cube, Porto Rico, and the Philip
pines

DENVER, COL, August 23.-The TWEEN
ty-fourth annual meeting of the American
Bankers Association convened at 10
o'clock to-day at the Broadway Theatre.
Most of the 800 delegates expected were
In their seats when President Joseph c.
Hendrix raped for order.
After roll-call. Governor Alva Adams, of
Colorado, welcomed the association to the
State. Governor Adams, himself a bank
president made a rather long address, I'm
which he good-naturedly criticised many
OF the methods of modern banking. He
advocated a postal savings banking sys-
tenn and a government guarantee for all
deposits in national banks
Mr.. Joseph A. Thatcher, president Of the
Denver Clearing House. delivered an ad-
dress of welcome, on behalf Of Denver
bankers.
President Hendrix spoke I'm response to
the words Of welcome, following those re-
marks with his annual address to the as
sociation.
MAJOR BRANCH.
Secretary James r. Branch then read
his annual report. The secretary. who
appeared in his uniform as major of the
Seventh United States Immune Infantry,
was received with enthusiastic applause.
Mr.. Walker Hill, of st. Louis, trea-
surer of the association, read his annual
report. 1t showed receipts and balance
from last year, slOl,A disbursements,
$3J ,925; balance, S65, ,266.
The report of the Auditing Committee
was read, after which the report of the
Protective Committee was presented.
The report OF the Executive Council
was read by the chairman, Mr. Alva III.
Trowbridge of New York After review
ing the work of the committee, Mr..
Trowbrldge read letter from the Rail-
road Freight Association, suggesting bet
ter methods in the matter of drafts ac-
companying bills of iading, and asking
for joint committee to take action.
The association agreed TO the request.
Upon the recommendation of the coun-
Gil, the association adopted a resolution
recommending that government COM
mittee be created to study the financial
systems Of Cuba, Porto Rico, and the
Philippines, and suggest amendments
thereof, II any are deemed necessary.
Committees were authorized TO inquire
into rates and forms of surety bonds, and
to suggest a standard form for warehouse
receipts and bills Of lading.
NEGOTIABLE INSTRUMENT LAW.
Mr.. Frank W. Tracy, chairman Of the
Committee on Uniform Laws, made the
report of that committee, which was in
part as follows:
"The nesotiable-instrument law which
we are endeavorng 10 have passed IS very
fortunate in having been tried for sixteen
years in Great Britain and all its Colonies
il has been indorsed by experts in law in
thirty OF the States Of the Union. Much
opposition has been expressed 20 the law
because it abolishes days of grace, and,
astonishing To say. this opposition mani
tests itself more strongly in the New Eng
land States than anywhere else.
"The task of attempting 10 pass this law
i'm all the States is one of herculean pro-
portions. but from the experience Of the
past winter your committee believes it can
be brought to a successful issue. The law
is now in force in Connecticut. Maryland
New York, Colorado, and Massachusetts"
The report of the Committee on Educa-
ton was presented by William Cornwell
Resolutions were adopted, expressing the
regrets of the association upon the death
Of Thomas Ridgeway, at Shawneetown,
Pa.
After the adjournment Of the session,
the delegates from each State and Terri
tory had meetings for the purpose Of
choosing the members of nominating com
mittees.
SIGHTSEEING.
The afternoon was spent by the greater
number OF the delegates and visitors in
sightseeing though some canvassing for
various cities for the next convention
was done.
Several candidates for each Of the
minor offices were suggested, but 1t is
conceded that George Russell, Of De-
troit, viii be the next president Of the
association.
From p. W. till midnight the visitors
were entertained at q reception by the
Denver Clearinghouse Association, at
the Brown Palace Hotel.