The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-10-21


sideration. The desire of the depart
ment is to build up and strengthen, not
to destroy.
CANNOT ABOLISH FRAUDS.
1t is not claimed that state super
vision, however rigid, will entirely
abolish frauds or failures-no system
yet discovered, state or national, has
succeeded in that-and until the MD
lenium comes and the old Adam is
driven out Of man they will occur.
1t is claimed, however that such ST..
| pervision exerts n good influence; It's
restraints are wholesome; its effects
are to fix a high standard; 1t con-
serves good ends; it promotes sound
methods of banking and greatly re-
duces the losses to depositors and
| stockholders.
| Next was heard the reports from the
| eight different groups into which the
! banks Of the state are divided. They
| proved to be Of n nature calculated to
| make a Republican quite content with
! his political faith. Appended are
some of the more interesting Of these
| reports:
John 3. Harper. of Philadelphia-Mr
| President and gentlemen of the con-
vention. AS chairman OF Group L.
l am glad to report a very flourishlng
| condition of affairs in our city. our
merchants and manufacturers are do
ing a large business and the percent
age of failures is very much less than
last year. Our manufacturers, though
they say that the price of raw mate
rial has 80 largely increased to them
that as Yet they are not able to realize
| a corresponding increase in the price
OF the manufacturers product, are still
keeping busy. Labor troubles have,
to some extent, made their appearance,
and at this time there is a strike going
on in one OF the largest shipbuilding
plants, of which, however. there are
hopes of an early adjustment Our
group A hold it's own membership, but
l am sorry to say there is a very great
lack OF interest on the part of our
members. We have held only one
meeting this year, and that was
sparsely attended. Our banks are
prosperous. The deposits of the men,
bers OF the Clearing House association
show an increase since the beginning
of the year of forty millions, and
loans have increased thirty millions.
The figure at the last report made to
the Clearing house was deposits, 1885,
900, 900 and loans 144, 100000 (Applause).
REPORT OF GROUP 2.
]. II. Maltberger, of Reading-On be-
half of Group 2 l would say that the
manufacturing interests in our section
| of the state are in healthy and pros
porous condition; the demand Tor
money has been increasing to a large
extent and capital Is well employed
and at good rates. The bankers are
now realizing that they have less care
put upon them than they have had
during the past five years.
Robert +. James, of Easton-Group 3,
gentlemen, is in the game excellent
condition that it has always enjoyed.
Group is a star Of the first magni-
ture-a star that is pleased to admire
itself and does admire itself U.augh-
teri.
Group always has a meeting. 1t
does not come here with an excuse
that it has only held one meeting dur
ing the year, or possibly two meetings
or three meetings. We never have
less than three meetings a year. and
we increase that number quite fire.
quently. We have discovered that
there is nothing go efficacious in bring
ing about meetings as a good BAN
quet. And Group will always rally
about a good banquet, and when a
banquet is partaken of and the men
are there, why, of course incidentally
/. we talk banking Laughter).
, Our annual meeting was held here in
, Scranton, and it was very largely at
. tended. and we were entertained with
the hospitality for which this city is
famous.
In the summer-t time, under the exig-
encies and pressing character of our
! business relations we held a special
, meeting in Wilkes Barre, ana 1t was
a very largely attended and a very
! successful meeting. We did not ac-
, complish, perhaps, all that we set out
; | to do, but we had a good time.
! have not heard that the Clearing
, House association of New York has
/ changed it's methods since We held
: our meeting, but we resoluted any
= how LaughteD. Then we held g
! meeting over here at Harvey's lake
! and we enjoyed ourselves there, and
} We resolved that it was good thinl
: to be bankers, and particularly good
thing to be members of Group 3.
GROUP FLOURISHING
As I said before, gentlemen, we ar,
q flourishing. Everybody in this lane
. today is flourishing. The banks are
Q making money. They compare notes
!, and show each other how their de
/ posits are running, and how interes
: they are not paying, and what gooC
n time they are having; and, 10 sum
marize the thing. Group 3 is supremelN
: we'll contented with herself Laugh
ter).
4 A. ]. Hazeltine of Warren-Mr
: president, ] am taken by surprise a
[ being asked TO respond for Group
@ but as you have asked me question
: l will ask one. | have no doubt tina
|, most of the bankers in this room &c
n certain of the products which We fur
: nish up in the Northwestern part o
: this state. Now If you have been buy
e ing any petroleum, that will answe
0 the question whether we are prosper
: Gus or not. l suppose you all wea
boots or shoes. Hence you will know
: what sole leather brings II you hav
n any occasion to buy lumber, at an
rate hemlock, yeu will know that yo
e are paying from 50 to IS a thousan
y more for it than you were not lon
.. age.
e Frem this, gentlemen, I think 20
,e win understand q little of the pros
l. perity OF our section. The banks, G
d course. are reaping some OF the result
: OF THE prosperity and are making thei
E, harvest with the rest of the commu
le nifty (Applause).
n The President-Group 8.
h William Ramsey, of Pittsburgh
the absence of our ofiicers J have bee
IS requested to speak few words I'm re
l. gard to Group s. / may say that, a.
m though we are last in the list, we al