The times. [volume] (Richmond, Va.) 1890-1903, 1900-10-04
BOARD ELECTS TO-DAY
Trowbridge, Of New York, 10 Become
President oil the Association.
TREASURER ROBERTS, ADDRESS.
Convention Hall ut The Jefferson
Packed With Visitors, Who Lis
tened to Polk nfiller's Dialect
Ssorics-Trust Section Held
an Important Meeting
at Masonic Temple.

The Executive Council of the American
Bankers Association VIII to-day elect the
officers of the body. Quite u bitter fight
has been wased over the secretaryship.
which pays $6.9oO year, there beng some
opposition 10 the re-slectlon of Colonel
James r. Branch.
Mr. Bradford Rhodes, editor of the
Bankers Magazine, of New York, is the
leader of the ant:-Branch forces, and he
has been wasing a fight against Colonel
Branch for the past five years. SO far
as the result before the nominating com
1nltfee is concerned, Col. Branch is victo-
rtous. This committee held a meeting yes
terday afternoon and selected ths, officers
il would present 10 the Eecutive Council
to-day.
Mr.. Rhodes and Col. Branch have not
been very warm friends since last year,
when the American Bankers Association
net in Cleveland. AT that time het words
passed between them. but their differences
were supposedly amicably adjusted
There seems 10 be but little doubt that
the Executive Council will re-elect Col.
Branch to-day. The other nominations TO
be made embrace the following:
For President, Albert Trowbridge, presi-
dent Of The North American Trust Com
pany. New York; For Vice-President. Ny
ron t I5errick, president of the Society
for Savings, Of Cleveland, O.; For Treas
urer. George N Reynolds, cashier of the
Continental National Bank, Chicago; For
Chairman Of the Executive Council. Cald-
wei Hardy, president of the Norfolk Ma
tional Bank, Norfolk, Va.
LAST NIGHTS CONCERT.
Last night the bankers were treated 10
an entertainment that many Of them had
never before seen. 1t was an old-fashioned
concert by wl1aI Is known as Polk -M-lieT,s
Aggregation.
Mr. Miller was in his brightest mood,
and besides his character songs, he told
many stories which even, his Richmond
friends had not heard before. a troupe OF
genuine negroes rendered songs and char
acter sketches 10 the delight of the au-
dience.
A reception, complimentary 10 Mrs. Jas.
r. Branch was given at the jefferson be-
tween the hours of and last evening,
and Mrs. Bradford Rhodes gave eompii-
1nentarg german at the Masonic Temple
last night, which proved TO be most
charming affair.
During the afternoon the bankers and
their lady friends took a drive over the
city.
The American Bankers Association be
gan its second days session under most
fayorabi1 auspices. The convention nan
OF the jefferson was comfortably fiicd
when President Hill called the body to
order at IL O'Clock, and the feature OF tit1
day was the address of Hon. EMS II.
Roberts. easureT of the United States,
on tn. subject, The Treasury and the
Money
Bishop Van de vyver, of st. Peters
Cathedral. offered prayer, and this was
followed by :lie presidents inconnee-
ments. Then came the call of the States,
the bankers from each State reporting
the condition in their respective States.
These reports. especially those coming
from the middle-west, We're most graft
tying, showing that the only banking
conditions had improved during the past
twelve monSis. From the Sbuth Mr..
Lowry said he had never seen brighter
prospects. and he expressed the hope that
the present prosperous period might not
be interrupted
There was then brief discussion of
practical banking questions. several of the
delegates participating.
MIR. RGBF2TS' ADDRESS.
The address of Hon. Ellis Ia. Roberts
on the Treasury ard the Money was
me next number or the programme.
When Mr. Roberts began his address.
the hall vas filed. and great interest
vas manifested in what he said. He
spoke as follows:,,
ne american Bankers Association rep
:eSeliiS II resources $lG,t9oupo. .Non. which
is more than double the banking DOW 4.
el any "ther country III the world You
are the guardians. the administrators of
In rs enormous active capital He who
lS.i,r,
hoAof and Tie rsspons billty. Let HE
tAPreSs my deep sense of both In
iesponso 10 your invitation perhaps you
VIII be wiling to hear q brief discussion
of the relations between the Treasury ana
The banks as such s-they have b EN- ana
IS they are.
The attitude OF governments to the
money market has been, IN all lands. in
IN large majority of cases, that of tho
borro~-er, often the nk cdy borrower. who's.
eifronsetE and persistence have on occa-
sion become bold be4;gary, and more than
once arrant robbery
isaac Of York, in Ivanhoe. is the type
OF Inc money market in England in the
DAYS OF R2chard Lion Hart with cxtar-
Ton by the lender enforced by torture by
tle borrower English Edward l., in
1913. according TO Hume was not content
to borrow. but seized the whole property
81 the Jews, save enough TO enable them
TO leave the country. BY 1897 the stress
OF his war with France led him to treat
the producers of his kingdom as he had
treated the Jew money-leaders, and to
levy on and sell Tor his own use all their
wool and leather and much other pro-
pe-ty. When the Lombaris mastered
the money market Edward III fell in
d bt IsaD-o9 1iorins TO two houses, which
became bankrupt on that account
OLD-T1AE pEPoSITORS
Under the Ssuarts the goldsmahs depos-
tied Their moneys for safekeepirs in tha
mint. so that Charses 1. was able to seize
there their balance of f2eo. .0a0 which he
then called loan. His son. Charles H.,
improved on his example. and in 1872 laid
royal hands on nearly 8. 10000 so In
trust. and refused to pay at all After
a while he WIS driven to remit tha inter-
est. The principal WAS cut down nearly
60 per cent. and has become petriaed as