The times. [volume] (Richmond, Va.) 1890-1903, 1901-10-16
twenty Seventh Annual Convention
Assembled.
VARIOUS. REPORTS WERE MADE
Membership Has Increased During the Pas
Year Negotiable Instrument Law
Passed in OILY One State Since
Last Meeting.
nv Associated Press.}

MJTVyA u Ali Il; WI 49,, oct. 15.--The
&fwenty-seventl1 annual convention OF the
American Bankers Association began
here at 10 q clock to-day with bankers
from nearly every State III the Union in
attendance The members of the aSsuc.a-
ton represent combined capital Of
over $4,000, OrO 600. President Alva Fl.
@Trowbridge. of New York city. called the
convention to order, and introduced Alex
anderG j.. Burrows, presidentgof Marquette
College. wis,s: delivered the invocation.
Davis s. Rose, Mayor of Milwaukee. wei
coined the bankers to the city. and j. w.
P. Lombard; president of the Milwaukee
Bankers Club. extended a welcome on
behalf of the local bankers.
REPORTS MADE.
Jfmes r. Branch, secretary OF. the as
sscciation, presen ted his annual report
g 81 owing the membership and the re-
sources to have increased as follows:
September, 1860 raid membership, f.
sai annual dues, s59, 100. October TO- 1851.
paid memberships, $500; annual dues,
{ sec. $50.
The treasurer, Mr.. George NJ. Reynolds,
reported receipts of s67,791, and expendi-
tl;res of s6693S, the balance on hand Au-
gust 81, 1901, being s63.0s4 The disburse-
ments on protecting account We're s29,966:
rank q OIL the COM
nlittee on Uniform Laws. submitted its
report setting forth that the negotiable
instrument law had been considered in
many legislatures last winter, but was
successful in only one State-Pennsylya-
MIA The law has been adopted in seven
teen States.
Alb. Hepburn presented the report of
the Committee on Internal Revenue Tax
alton. The report states that legislation,
while not all that the com nittee desired
nor al! that it was entitled to, had been
secured.
sTANDAcz:o@ BOND.
Z Colonel Robert j. 5J1nWrey reported
from the Committee on Bureau of Educa-
ton. the substance CT which was an en-
Gorsement OF the correspondence school
OF the American institute Of Bank Clerks.
"A. C. Anderson chairman Of the Com
mittee Of Fidelity Insurance, submitted
the report of that committee. It was
stated that a, standard ;torrlgof bond had
been provided and nine surety companies
were now prepared to furnish 1t. Ihe re-
port contained the following:
Numerous and heavy as We're the de-
falcations for the year 1901, it should De
borne in mind that the combined office
fierce of our members exceeds 80, Cc0, ana
among these THAT were covered by cor
porate SuretyShlp, Tor each !bonoeu zilltli
that strayed from the Path OF recttuoe
there we're over nine hundred that re-
NAMED faithful. It is ODE noted that the
heavy deinalcations last year We're mostly
BY men not covered by surety hohd.
The report said 81 per cent. Of losses
were not paid
n w. HAYES. the chairman. presented
the report Of the Committee on IaNatlorl
Of Express Companies. The committee
stated that they We're unable to report
any substantial progress as the result 81 o.
its efforts to compel the express COM
panies and their numerous agencies. TO
nav a tax for the privilege of conducting
@a%banking and brokerage business.
.egal action was recommended with
"a view of testing the matter IN the courts.
By unanimous, consent, a resolution
presented by James a. Wilcox, OF Fits
burg. was received and adopted bySthe
convention, relating 20 the punishment
of anarchists.
Secretary Branch, through the kXecu-
tive Committee, was authorized to SEND
message of greeting to President Roose-
Welt
President Trowbridge appointed Messrs.
Kaufman, Herrick, Whiting, Pugsley,
and Mulvain a committee to prepare a
memorial on the late President Mckinley.
Adjournment was then taken until to-
morrow.