The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-09-06
BANKERS IN SESSION.
Meeting of the American Association
at Cleveland. Ohio.


Cleveland. O., Sept 5.-The twenty
fifth annual convention of the Ameri-
can Bankers association was called to
order in the auditorium of the Chamber
of Commerce building today, with prob
ably the largest attendance in the his
tory of the organization. Between 1000
and $500 visiting bankers, representing
all sections of the country, were pres
enr.
The amount of capital represented in
round numbers is S., zoo, 100000. In the
absence of Mayor Farley, Director of
Law Hogsett welcomed the bankers to
the city. Vice President E. Born of
the Cleveland Clearing House associa-
ton welcomed the delegates on behalf
the Cleveland bankers.
President George H. Russell of the
American Bankers association replied
to the welcoming speeches. and follow
ed with his annual address to the or
ganization.
3 Secretary James R. Branch then read
his annual report. The report says:
sThe association, which was oracti-
cally started to induce the GOVERN ant
to resume specie payments, has never
ceased to work steadily and openly for
the benefit, not only, of the banking
fraternity, but the country at large.
One thing stands out clearly. and that
is the, American Bankers association
has become what twas intended to be
an organization of utility for banks
and bankers, and an authoritative ex
ponent of the highest aims and pur-
poses of the banking world. Today,
long since emerged triumphant from
IL - H.. til
threatened the associations welfare, Il
net it's actual existence, it has a men,
bershipi of nearly 1000, and looks for
ward with confidence and enthusiasm
to a still larger recognition of it's use
fulness.''
The roll now embraces 1915 members,
whose capital, surplus and undivided
profits aggregate $1,2S0.192, 191; COM
bined deposits, s4.5O1, 367,3 1928; total, So
731, 550,519. This is sS41. OPS more
than the assets of last years MEM
bers.
These figures do not include the cap
ital and deposits of 372 members who
are private bankers, and make no state
meats.
The report of the treasurer, George
Reynolds of Chicago, was presented. 1t
showed total income for the year of
$125,151 balance on hand, $52,0S5. After
the report of the auditing committee,
Alvah Trowbridge read the report of
number of resolutions were intro
duced
Among them was one by Bradley
Rhodes of New York, recommending
the adoption of an amendment provid-
ing for the election of officers by call of
states, instead of through nominating
committee. The chairman of the ex-
ecutive committee opposed the propos-
ed amendment. The debate over the
hour. Finally the question was put to
the convention, and Mr.. Rhodes ideas
were not accepted by the convention.
A rising vote was taken, and only four
delegates voted for the adoption of the
plan.
The report of the protective commit
tee was next presented. 1t showed that
the work of detecting and convicting
bank robbers and swindlers has pro-
crossed with great success during the
past wear.
The Hon. Frank w. Tracy of I1li-
nois, the chairman, presented the re-
port of the committee on uniform laws.
1t was, in part, as follows:
1.-THE American Bar association, In
1895, presented a revision of the bill
for uniform law for commercial pa
per adapted TO American IDEAS. IL I'M
met the approval of the busi-
ness men of the country, and your
committee, in 1897, was entrusted with
the task of presenting it to the differ
ant legislatures for their approval.
When we commenced our work we
found the law had been enacted in four
York, Connecticut, Colo |
RADIO and Florida. In 1898, but few of i
the legislatures were in session. We !
worked with five states. Maryland. |
Massachusetts and Virginia passed the |
DILL. Ohio and Georgia created COM |
missions, which we think will report |
faverably this coming winter. This |
year many legislatures met We got a
hearing in most of them, and, in the /
main. were successful.
I'VE passed the bill in eight states
and the District of Columbia, more than
doubling the number of states enact
ing the law. The following states are
now, working under the law: New York,
Virginia, Florida, Wisconsin, North
Connecticut, Maryland, North
Carolina, Tennessee, Washington, Mas
sachusetts, Colorado, Rhode Island,
Utah, Oregon and the District of Co
Iumbia."
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