New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-09-06
BANKERS IN SESSION.
CONVENTION OF THE AMERICAN AsSO-
CITATION OPENS IN CLEVELAND.
ANNUAL ADDRESS DELIVERED BIZ PRESIDENT
ACKNOWLEDGEMENTS or OFFICERS AND


COMMITTEES
Cleveland Sept 5-The twenty-ifth annual con-
venton Of the American Bankers Association was
called TO order in the auditorium Of the Chamber
/ OF Commerce Building to-day. with probably the
largest attendance IN the history OF the organiza-
ton Nearly fifteen hundred bankers, representing
all sections Of the country. were present Inc
amount Of capital represented by the Delegates III
round numbers IS given at s57oo0ooooo In the an
sence Of Mayor Farley. the Director Of Law MI
Hogsett welcomed the bankers "a the city T. H.
Borne. vice president Of the Cleveland Tearing
House Association in the absence ~ Fresideh'
Thomas Wilson, also welcomed the delesd'eS III
behalf Of the Cleveland bankers.
George II. Russell president OF the American
Bankers Association replied to the welcoming
speeches and followed with his annual address ~
the organization. Mr.. Russell said II part
In the last twenty-five years there has been =
laree relative increase in the number Of banks ana
STsiress decrease 81 fully - per cent in discount
rates much better facilities are given TO me oe-
welnigh abolished. T1cre Is H a. a., 6a1kirz
/ more work and mO~e responsibility. less - -
| and appreciation In the last TWO or iAitt a. a.
ne7de1ca ~ The mon y centres on the par OF s.r
South and West But must accepl az. nat
ditions that now exist and recosnize th% ION -e
rates Of interest will gradually and na'ur7''
With clear skies and favorns wind. t.si H' tSe
that storms must come ana We Slo.' w. carry.
In times OF such prosperity - this oankeFS when
| tempted with many visionary scnel.Sb T., welded
Ttb7Io We nus not TOO conservatvey deny aln an
wonderful resources nave referred 70 %. .bc South
ing wealth and financial independ ence o. by cit
inT statistics from my own State Of AlI.hls e. A.
which are easiest obtainable 20 ne I"' 49,, VI
ig s uI ps1 ~ ana tnree rus companies Of Mich
gan there was increase IN tne to'a a. GtP' - ~
NJ .--- or4ofI -
:SHss IN he banks ~ Michigan o. ST. eS
i9S = and on July l. lsse there was iold4 49,
aDGl55S %, showing a gain i2r ~ ihe ~ p-ob.
months OF this year 81 oycr $3.50 NAV obtain
brouphout me great states OF the Nes'. 10 you
worder then that tins year and probably lor M
/ future. handle our crops WIZ L. for he
last two months interest rate- have nten an N
! lower in central and far Western cities imam 10
~ .b matter Il collection charges the Clearing
/ House Association n NewYork city ms SCI -, 80
example which II Is ~ ne nopeG ro ~ GLOW
and hat the members ~ this association ra,, nv.
longer conduct and advertise "the Great AIierl,dn
Free Express and Collection COMPANY. 4 7ro,,Id
sonable charge Sor exchange and COLLECTION W, -
stationery and stamps In other countries mes
/ exchange and commission charges go iar ''"'''
Rehabilitation and combination are the orI'r OF
the day and in many instances II W9 o. ,T -
/ hank. scDaratelv cannot their deposits W.
/ safety to their deposors or profit 70 ne sI9CH-
79 e nave - ooked %5 alarm apon the foraon q
Industrial combnaoas or trusts o-G,SS u re-
main with Us and by ecoho1cai aG,' he cor
/ s,I17er NAV serve 70 largely expand our home and
foreign trade Bankers after time viii need ~
investigate more carefully and discriminate fairly
/ tn department stores 70 the sH2-l rnerchaI =,
these larger corporations Will seriously aHect ne
BUSINESS Of The banks n cities which are not "a,
/ vorei win the location Of their head offices and
financial manage ment.
Secretary James r. Branch then read his annua!
/ report which in par, as follows:
The association. Which was practically started 70
induce the Government 20 resume specie pay men =.
has ceased n work steadily and openly 10. me
benefit not only % the banking fraternity. nut ne
the country at large one J..ne staHGs oqs &
and that Is he Aersnd H6 TX Fe an m
Of utility for banks and bankers and an authorita-
i've sxB9nen Of fhs hghest a aims Se ana RuTP955 %
we're lost through failure. liquidation and with
ship at the beginning OF the fiscal year sl7i Seven
hundred ana tgs,y- ofs I. rlL Zoo 49, IL ~
over last years total membership Of $50 The roll
now embraces 5s-3 neIa.ers wn9se q 5o 100 ,ai
Combined deposits $i50L36732s total sj.7ii5js5ls
This t g25 NOR than ne 81 iSn;e o 2t 81 4 5
years mem lh'- ~ 90 ro- t.c',.s ,-i7
vate bankers and make 10 statements
The report OF the treasurer George VI Reynolds.
| Of Chicago. was next presented T. showed that the
total income for the year S25. l5l ~. The
total balance on hand Is H20s o.
After the report % he Auditing Committee Alvah
Trowbridge read The report ~ the Executive Com
uittAe and NUN 1er o. resolutions we're intro
ducea Among the more important OF these was one
by Bradley Rhodes ~ NeW-York, recommending
election " officers ty call Of States. instead o.
through a nominating committee. The debate on
he amendment lasted for over half an hour Finally
the question put 20 the convention. and MT
Rhodes ideas not accepted \ rising vote
was taken and only four delegates voted for the
adoption ~ the plans.
The report OF the Protective Committee next
presented Y showed that the work Of detecting
and convctinr bank robbers and swindlers has pro
ceeied with great success In the last year.
Frank W Tracy read the report OF the Commit
tee on Uniform Laws.
rero-ts % the Education. Credits Fidelity. Insur-
ance and Warehouse Receipts and Bills OF la Ing
committees until tomorrow.
The convention then adjourned until y o'clock