The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1899-09-06
BANKERS N CONVENTION.
AMERICAN ASSOCIATION CALLED TO
ORDER At CLEVELAND.
Lssgess ~ gss Htssosy-rtfsees
HssAseA vsstuss Delegates Rep
s~ssss . Capital es sS.7O0. 00o. 100.

s~ssss . Capital os oS.5OO. 0s,o. 100.
CLEVELAND. o.. Sept. s-Ths nth an
nusi convention OF the American Banksrs
Association Vas called 10 order In the ag-
dItorium OF the Chamber Of Commerce
building today. with probably the largest
attendance iu the history of the ofganixs-
ton. Between i.91o and i.s00 visiting bank.
ers, representing all sections ~ the coun.
try. were present. The amount OF capital
represented. tn round numbers. was I.'vo,'
Og.oI1
Director Of Law Hos.stt welcomed the
bankers 20 The city. Vice President Born.
OF the Cleveland Clearing Hou~r Associas
ton. welcomed the delegates on behalf ~
the Cleveland banker. President GEORGE
II. Russell. Of tho American Bankers Az
sociaiion. replied. and followed with hls
annual address 10 the organization. lie
said IN part;
President Rssssit's Repovs.
In the past twenty-five years there has
been a large relative Increase In the NUM-
Der ~ banks and consequently greater
sofopttitlen ~ the banking business, De.
ereas" o. fuzzy 70 per cent 10 discount
dcposli0. and the old exchange ana coliec-
lion charges are well nigh abolished. There
], mueh larger capital invested. and much
H.
more responsibility. less return and appfe.
citation"
lie spoke Of the growing Independence
o. Inc m9n.y cenfefs on the part ~ the
South and the West" and asserted that
the business ~ the country was heinz done
on cash basis lie said the country mer-
chant had learned the lesson. bought more
carefully and paid cash, and so, business
paper surety disappearing. the banks NUT
Invest In other good securities Already
they wef" purchasing the bonds o. foreign
y have no theory Of currency reform 20
Recommendation Of the congressional com
miitee appointed for tina, purpose VII %.
clare unequ!yoraily IN favor % the gold
standard. an and reconsider tho differ
fnces Of theorists. and propose such mod
crate reform measures ~ viii commend
Themselves 10 the united support ~ this
association. CONSOLIDATION and cornlina.
ton ar" tho order II the day, and In many
Instances II would be desirable ~ consoil.
date banks whore the smaller hanks sep.
arateiy cannot use their deposits with safe.
~ 20 heir deCsitors or .groni 70 ,helr
stockholdTs after paying the cost ~ sd-
m!nistfation
TS"sss s1a Combinations.
We have looked with alarm upon the
formation OF industrial combinations, or
conservailveIy FORMED. VIII remain with u.s.
ana. by economical administration and a
lessening Of tho cost Of selling 10 tho con.
homo and foreign trade"
In submitting his annudi report. gecre-
'arf mi: y srsncn ". .sc, v,. ,,,c,c.,
started 70 induce the government 10 re-.
sumo specie payments. has never ceased TO
work steadily and openly for the benefit.
,ss Sn,y ., ss s"nsns rrs'srny sn
out eItsriy, ard tbs, IL that the American
BankerG Association has become via, Il
var lnssn1sd 70 BE, an organization Of viii
"a lsnE aaA
itative exponent ~ the highest aims and
purposes ~ tbe banking world
To-day long ance emerged triumphant
from the vicfssitudrs which ~ one time
threatened IN" sssociatIon's welfare ~ not
ia actual existence, ~ has q membership
81 nearly four thousand. and looks for
s,lli larger recognition ~ its usefulness
The roll now embraces s.sis members,
whose capital. surpiue and undivided prof
pos,s NIoi g7,s2.; total t.7si GSo.sis This
~ sti 2ii,o2s more than the assets OF las;
years members
and deposits o. s72 members who are pri'
vaie bankers and make no statement"
Tr~ssurer's Annual statement
Tho report Of Tressurcr Reynolds showed
n balance on hand ~ 81 0ab After the re.
port OF the auditing committee Avian Trow-
s s,n,r, tsah me rspor % me executive
committee ass next presented. II showed
that the work Of detecting and eonylctins
bank robbers ana swlnilcrs had Progressed
with great suecefs during the past year
Chairman Frank ". Tracey read the re-.
port Of the committee On uniform laws II
wss IN part No follows:
The committee has hnf many FIgRes-
ions "a 20 laws ~ should favor our AIRS,
duty 10 10 get the same uniformity In our
credi, circulation M We have IN our cur
rency There should be no state lines In
rnirs regarding commercial paper
WIN the law - commercial paper III
such tumble. how are w. lsyfnen 20 cafe.
~ conduct our business Large sums Of
money are involved every day ln interstate
transactions ana we're not The bankers ~
the United States mon % such arg faith
tie business could be done
The law. however W male not 80 mulch
for men ~ integrity aa % catch rarcap
and there appeafs occasionally among tho
customers ~ isnk sucn = ono and for
him Ne must have legislation We need
NOT repeat the history u our tlil frr no
gotable instruments The American Bar
Association IN 1888 pre- ~sufet a sfrn ~
th.s BILL adapted 90 American tdcas IL
Immediately met the approval - the busi.
noss men ~ the country. aua your CON.
mlifse IN isai vac entrusted with the task
% presentlns IL 10 the different lex siaure.
for their approval
Progress az BANKING Liquidation.
when We commenced our work w.
found Tie lss hab been enacted IN four
sistss New York. Connecticut. Colorado
NNf y |ftAHA3 ~ -" VII iFN ~ fHe 80 o.
latures were ~ session W. worked viii
I've siafss. Nsrylana. Nassac1ufett. ana
Virginia paved he hli ohio and gsofsfa
created commissions which ~ think. wlil
report raverahv fhfs coming winter Tse
year many ieE faiufes me- No gst
nrArins IN mosi = them ard m tho main
were @geceNsfgi Tho f0lioNlnR states are
rov working under the iap %fw York
virginia rIfFsth We -~ Norm ia.
kota. Connecticut N8rvlau1 N1rf1 caro-.
Ina. Tennessee Washington Marsarru.
sets Colorado Ra5dN fAsnf TEA ore
ssr ana IRE District ~ Cpipunfa
The whole civilized WORT vii probably
trnr enjoy sns ur!veYs4l 40 - that
whether ffai In commercial raueT IN
New York ~ San Francisco IN London
n HonRsonr IN Mania ~ fioasluis ~
in Havana Ne vii have ire same rule
governing al