Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-02-23


men. The feature of the session was
the address of Hon. Lyman ]. Gage,
Secretary Of the Treasury.
The association was called to order
shortly after 10 o'clock this morning
by President w. NJ. Hill in the assem-
bly, room of the Chamber OF Commerce.
DELEGATES AND VISITORS.
The attendance OF representatives
from various banks of the State was
good.
SECRETARY GAGE SPEAKS.
After prayer by Rev. Dr. w. A. Barr.
rector OF Monumental Episcopal
Church. Judge George l.. Christian.
president of the Richmond Clearing
house Association extended Il welcome
to the visiting bankers. The response
was made by MT. Alexander Hamilton.
of Petersburg.
After little routine business Presi-
dent Hill introduced Secretary Gage.
who delivered Il lengthy address On
he Mechanism of the Bank-note."
The address is remarkably interesting
III view of the character of the subject
oryness being generally regarded as its
most striking characteristic
THE PRESIDENTS REPORT.
The conclusion OF the address of Mr..
Gage was marked by loud and long
continued applause. on motion of Mr..
John L. Branch, of this city n unani-
nous vote OF thanks was rendered Mr.
Gage for his able address. There was
Il recess or fifteen minutes to enable the
bankers TO meet Mr.. Gage, after which
the distinguished visitor and his wife
returned 10 the Jefferson and the asso-
citation resumed it's work
After speeches by several members
ana visitors President Hill submitted
his annual report. In 1t he stated that
there are thirty-ive National and nine
ty-three State Banks in Virginia. The
National Banks have n capital OF 81
$4,000, and the State Bank s.. 537 900
making total of $40. 0S3, 900. The Ma
tional Banks have n surplus and undi-
vidcd profits OF $3,4S6.000 and the State
Banks have 81, 571 900 The total capital.
surplus end undiv ted profits amount
to $l6,l40O00. The National Bank de-
posts amount to S1S063, 600. and of the
State Banks s1S,0l6, 900.
The president makes some sugges-
tons as follows:
| Should not n law be PASSED to pre-
vent persons from doing business UNI
| der title OF bank" unless regularly
| chartered.
Would 1t not be desirable for the
| State to have the October reports of all
II.
and copy sent to every bank in the
| State?
Should the bankers Of Virginia adopt
uniform stationery for collections. re-
mittances, checks and drafts?
Is it desirable to have mutual savings
! banks in Virginia, such as are in exist
| cncc in other States?
Is there any remedy for the heavy
| taxes assessed against banks?
Is 1t not wise for all banks to require
| uniform statements from borrowers?
| What can we do to increase the use
ftifrrss Of this associatieH2
Upon suggestion of Col. r. G. Mar
shall, the report was received, and the
suggestions contained therein referred
| to n special committee. to be appoint
! ed by the president later.
OFFICERS ELECTED.
After reports from the secretary and
the treasurer had been adopted the fol-
lowing officers were unanimously elect
| ed:
President Mann S. Quarles. of Rich
mond; Vice President. G.. w. Moore Jr.,
of Lynchburg: w. NJ. Habliston, OF
oke; j. II. Jopling, of Danville: C. d.
Fishburne, charlottesville: ]. A. WILL
let's Newport News; Henry l..
| SchmeltZ. Hampton; Walter IL. Taylor,
| Norfolk: Rufus a. Ayers. Big Stone
! Gap.
Secretary and Treasurer, II. A. Will
liams, Richmond.
Executive Committee-G. J. Seay, Pc
tersburg; ]. L. Patterson. Manchester;
j. II. Scheduled. Danville; ]. L. Bill
charlottesville: ]. N. Boyd. Richmond;
John K. Branch. Richmond; e. S. Read,
Chatham; w. p. Venable. Farmville.
Committee on Banking and Juris-
PRUDENCE. r. Watts. ]. NJ. White.
Alexander Hamilton, A. A. Phlegar. G..
a. Schmeltz, John S. Elicit, C. NJ.
Blackboard, r. w. Burke, and Virginius
| Newton.
Finance Committee-R. II. Smith.
John d. Purcell and r. Lancaster Will
| liams.
On motion the selection of two dele
gates to the American Bankers Asso-
citation, which meets next fall, was left
to the Executive Committee.
An attempt was made by one or two
| delegates to have the place of meet
might not fall upon Richmond city
every year. 1t was not followed up.
however. Mr.. John p Branch saying
| that this city would be glad to receive
and entertain the bankers once n month
| instead of once n year After rendering
thanks to various societies for courte-
sizes extended. the association adjourn
| ed.
VISITORS BANQUETED.
Tonight the Clearing House Asso-
citation rendered the visiting delegates
an old-fashioned Virginia supper at the
Westmoreland Club. There were no
toasts. Secretary Gage was present
There We're no ladies. MT. Gage will
return to Washington tomorrow morn
| ing
The courses OF the Virginian-P Pilots
| "IIome Study Circle" begin next Sun
day. the Goth of February. See an
| p0un cement DaCe T.