The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-08-26

! fact easily proven that the majority of
| men engaged in the banking business, both
| officers and employees, have little or no
/ pecuniary interest. in the shape of stock,
in the banks in which they are employed,
| but on the contrary, they are
| hard worked from six to ten
\ hours a day, and many of them on moder-
| ate salary in a business requiring the
most laborious and exhaustive mental eX-
ertion, as well as the highest test Of re-
| sponsibiity."
w. 5. Witham of Atlanta followed in an
address on "The Country Banker" in
/ which he said:
"When we began giving banking facil-
/ ties to rural districts our critics were
| legion, and many friends predicted disas-
| ter. That has all been changed by the
past ten years of unequalled success. I
can cite you to a number OF corporations
| in the United States which successfully
run hundreds of branches. Does not the
! telephone and the vestibuled trains of this
electric age multiply ones capacity? TIE
fact is\banking, as we'll as other lines of
| business, must take on progressive meth
DDS. Castor oil Is not now given in
tea cup; it is capsuled A siXty-day bank
note was once the limit, but now a six
months note sells as readily. II is not
unprOfessional now for the banker to adj
vertise bis wares and drum for trade. 1t
is not inconsistent with conservative bank
ing to contract for the future delivery of
| money, as the merchant does for goods.
| The severity of the panic of SO, with its
| disasters, can never be repeated In this
country, because of the new methods of
banking and because the clearing houses
of money centers have a remedy for
panics.
Across the face of a Grecian temple
was written these words, Know thyself.'
Across the ledger of every country banker
l would write these words Know thy
IL - Ill arrla IN
troduced to yourself now ana then, but,
| fellow-banker take my advice; Know
! thy depositor and know him well, The
study of mankind Is man., said Pope. !
do not know what bank Mr.. Pope was
connected with, but in this he spoke
words of wisdom.
I'm a town of 1000 population employ
$4,000 capital and that in cash. For
| population of, say $500 use $4,000. Keep
| out of larger towns If you want large
profits and contentment. Direct all your
energies to the protection of the stock
holders. for he is the third and last claim
ant to the assets of the bank. When he
is safe. Of course, the depositor and all
! other creditors are secure.
Don't borrow money of your own bank,
for in case you fail it looks and feels bet
ter to owe the other fellows bank
PAY only small dividends or none until
your surplus equals or exceeds your capl-
tai. We began by paying 40 per cent.
| dividends; but we have learned better.
do not permit renewals and extensions
of notes. How can you prevent &C.? asks
one. AS you are the pioneer banker in
the new town, do not begin It, Never
ask a renewal or extension of your own
payables. You fixed the due date and
signed it-meet it,
Don't go into schemes. Stick to your
last, or, as another has said: Behold the
postage stamp; how it stlcketh to one
] an.
went into boom real estate. To his sur
prise real estate went down, and his bank
I went up. In rhyme he tells the sad story:
Just about three years ago
I bought a lot and bought it low
The man that sold II told me So
| And he's the one that ought to know.
Fifteen thousand was the price,
| He didn't have to ask me twice
! l paid it half in one big slice,
And felt rich as Calvin Brice.
And for the rest 1 gave my note,
And as my name I glibly wrote
, | had no thought nor morn goat
How big the load I'd have to tote.
Now l sit in silent gloom
! Thinking OF my awful doom;
I want to lie me in my tomb
| Before we hit another BOOM
lend your money 10 your regular GUS
! toners and do not make a rule Of buy
! ing commercial paper. well-managed
| country bank with a capital of $4,000 is
! entitled to the same credit basis as a
mercantile house having a rating of Sx
times that amount. The records show
! that 81 per cent of the commercial houses
fail, while in some states (the state of
/ Georgia, for instance) not one country
bank has failed since the close of the
civil war"
The nominating committee then made its
report, which was adopted.
The officers elected are as follows:
President-George II. Russell of Detroit,
Mich.
First Vice President Walker Hill of st.
| Louis.
Members Of the Executive Council for
Three Years-Charles r. Hannah of Coun-
Gil Bluffs Ia; Homer W. Mccoy of Peria
Ill. S. r. Shoemaker Of Huntington, Pa. !;
r. McCurdy Of YOUNGSTOWN, o.. A. p.
Wooridge of Austin, Tex; Breckinridge
Jones of 81. Louis, Mo. J. c. Mitchell Of
Denver, Col. J. G. Brown Of Raleigh.
N. c.; II. I. Burge Of Boston, Mass;
Bradford r. Lewis Of New York.
Among the state vice presidents are the
| following:
Fior.da-J. P. Dismukes.
Georgia.. p. Hillyer
North Cardllna-John NJ. Miller, Jre
South Carolina-John A. Duroe.
Observation-Disclosures Hamilton.
The officers elected were then duly IN
stalled. The retiring president. Joseph C.
Hendrix, was presented with a silver punch
bowl by the members OF the association.
The convention adjourned sine die.
At the meeting of the executive council
! held at the Brown Hotel, Alva II. Grow
bridge of New York was reelected chair
man of the council, James r. Branch Of
Virginia secretary and q. NJ. Reynolds Of
! Chicago treasurer.
The question of choosing a city for the
| next~aunual convention was deferred un-
| til the spring meeting of the council
| which will occur in New York
COST OF CUBAN WAR.
Returning SpnnInrds Present n Most