Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-06-14
|ONA BANKERS MEET
The Annual Session Of the State
Association Being Held At
Des Moines.
A Large Attendance and Enthusi-
astic interest President Deliv.
ers His Address.
Topics Of Interest to the Profession
Discussed-Another Gift
to Drake.

SESSIONS OIL the convention were ned,
and in the evening reception and en-
was given at the Slavery in
honor Of the visiting members OF the
In the address of the day, the review
OF the president, Charles H. Martin Of
Des Moines, and the reports Of the Of
ficers. there was much interest to the
financiers There were numerous ex-
presslons of qualification at the action
of congress in passing the law estab-
fishing the single gold standard and it
was noticeable the introduction of the
name Of Mckinley was the Inevitable
Hgnal for applause. This was hardly
true of reference to his Nebraska COM
petitor in craftsmanship. The bank
ruptcy law was discussed in one of the
addresses by j. E. Marley. whose
paper was presented by Auditor Frank
Merriam. Mr.. Markley condemned the
law as inimical to the interests of the
bankers.
The morning session opened at 10
O'Clock with prayer by Rev. j. Eyerist
Cathell. rector OF st. Paul's Episcopal
church of this city. Charles H. Martin,
of the Peoples Savings Bank of Des
Moines, president of the association.
was in the chair, and presided during
the day. The bankers We're welcomed
to the city by Lafayette Young. Mr..
Young Congratulated the bankers on
the return of prosperity and the fact
they no longer had to compete with the
stocking leg or the kitchen floor as
receptacle for money.
j. H. Inguerson, OF Clinton. respond
ed.
President Martins review Of the year
was next in order. 1t was complete and
exhaustive. Mr.. Martin said the year
had been replete with general and con-.
8tinued prosperity. The banks OF Iowa,
he considered, We're never in as good
condition as today. The state legislation
last winter in favor OF savings banks
was referred to and the act Of the ma
tional congress re-estabishing the gold
standard. BY the new law, savings
banks are allowed to accept deposits to
ten times their capital and surplus COM
bined. In the course Of his review, Mr..
Martin said:
The continued and general prosperity
of our state will force upon US more
work each year. New and greater res
sponsibilities are facing the bankers Of
Iowa every day. The resources OF the
state of Iowa are increasing by leaps
and bounds. Stop and mediate for a
moment and realize the position that
Iowa is now occupying in the world S
commerce and trade. The agricultural
resources of our state are unequaled by
like amount OF territory any where in
the world. The manufacturing indus
tries are increasing at the rate of 20 per
cent per annum. Our cattle and hog
production is now greater than in any
other state in the union. Our poultry
and dairy interests alone exceed the en-
tire gold output of the state of Colora-
| do. Such immense avenues for the
making and accommodating Of wealth are
| flooding our state with capital, until to-
| day the rate of interest on Iowa farm
loans, secured by first mortgages of un-
ldoutbed security, are as low as rates
are in any state in the United States
Therefore 1t must be apparent to us
all that new and more responsibilities
are continually being forced upon us.
Our people of all classes-farmers,
merchants, mechanics and day laborers
are daily outstanding their earnings
and entrusting them to our keeping,
depending upon. and expecting us not
only to keep them safely. but to invest
them in a profitable manner. Under
these existing conditions, gentlemen, it
is e@iGent that we will demand and
continue to demand more united and
systematic work united and greater eff
fort, frank and free expressions toward
|, each other OF our different experiences
to-, 1.,V, n
| also to gain all possible knowledge thru
our social intercourse with each other
to fit US to meet these new RESPONSE
bilities and conditions more ably as
they arise from time to time.
4 Wherever there is q cause there
must be an effect. The more capital ac-
cumulates and the greater the amount
Iof 1t there is In circulation. the less Dor
rowing demand there will be for it. and
just SO sure as the demand from the
borrower grows less, so certain will the
quality Of that demand become poorer,
consequently the more prosperous our
| people become 1t becomes evident that
4 the more responsibilities are forced
1 upon us, thereby necessltating us to be
4 very active In taking advantage Of all
our opportunities, and gaining in every
way possible to be able to meet these
contingencies and conditions with cred
it to ourselves and with satisfaction to
those who confide in u.s..
| The reports Of other officers followed
J. NJ. Dinwiddie. secretary OF the asso-
citation, reported the membership now
at425. He said:
IAN active effort has been made ia
induce congress to repeal, OF. at least
modify the revenue stamp tax law
but without favorable result. Legisla-
tors excused their doing nothing on the
ground that such an attempt might re.
suit in extended argument and pro.
Ilonged session. all this, too in the face
OF rapidly increasing surplus. Nc
doubt the correct reason for this refu-
sal law in the fact that this Is presi.
dental election year, and 1t might no,
be good political policy to take thi.
matter up just now. 1t were better tina,
this burden should be carried longer
than that some ones political ambitions
should risk suffering. Other matters Of
interest to Iowa bankers have received
and still are receiving attention.
The, protective committee has hat
but, little to do this year. The tota
4 expense chargeable to that department
i Of our work Is less than 5000 ($184. 2O)
lover one-half Of which completed tn,
payment Of expense incurred last year
nIsNA Sa..A