The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-10-17
- r. ~
THE BANKERS OF THE
NATION IN SESSION
Men Who Represent Capital
of Eight Billions.
MANY REPORTS ARE READ
The Secretary Shows Large Increase
in Membership.
MANY REPORTS ARE READ
THE REPORT ON FIDELITY INSURANCE
Legal Action Recommended to Compel Express
Companies to Pay License For Conduct
ing Banking Business. ResoIu-
lion as TO Anarchists.
(By the Associated Press.)


Milwaukee, Wis, Oct. 15.--The Tween
ty-seventh Annual Convection of the
American Bankers Association began
here at 10 o'clock today with bankers
from nearly every State in the Union in
attendance. The members of the asso-
oiation represent combined capital of
ever eight million dollars. President AL
va H. Trowbridge, of New York City,
called the convention to order and in
troduced Alexander j. Burrows, Presi-
dent of Marquette College, who deliver
ed the invocation.
Davis S. Rose, Mayor of Milwaukee,
welcomed the bankers to the city and j.
w. p. Lombard President Of the Mil
waukee Bankers Club extended a well
come on behalf of the local bankers.
Jas. r. Branch, secretary of the asso-
citation, presented his annual report,
showing the membership and resources
of the association to have increased as
follows: September !. 1900, paid MEM
bership four thousand, three hundred
and ninety-on annual dues, fifty nine
thousand, seven hundred dollars.
Oct 10, 1901, paid membership five
thousand five hundred and four, annual
dues $60S50.
The treasurer. Mr.. Geo. NJ. Reynolds
reported receipts of $67, 791 and expendi-
lures of $66, 1888, the balance on hand Au-
gust 81, 1901 being $63,0S4. The dis
bursements on protecting account were
$29, 966.
Frank F. Tracy, chairman of the COM
mittee on uniform slaws, 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-Pennsyl-
vania. The law has been adopted in
seventeen States.
A. B. Hepburn presented the report
of the committee on internal revenue
taxation. The report states that legisla-
| ton while not all that the committee de-
| sired nor all it was entitled to, had been
secured.
Col Robert J. Lowry reported for the
Committee on Bureau of Education, the
| substance of which was an endorsement
| 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. 1t was
| stated that a standard form of bond had
| been provided and nine surety compan-
| les were now prepared to furnish it.
| The report contained the following:
Numerous and heavy as were the
defalcations for the year 1900 it should
| be borne in mind that the combined Of
&. q hon dc .txr
| thousand, and among those that were
| covered by corporate suretyship, for
! each bonded man that strayed from the
| path of rectitude, there were over nine
| hundred that remained faithful. 1t is to
| be noted that the heavy defalcations last
year were mostly by men not covered by
surety bond. The report said 81 per cent.
| of losses were not paid.
r. w. Hayes, the chairman, presented
| the report of the committee on taxation
| of express companies. The committee
| stated that they We're unable to report
any substantial progress as the result OF
| it's efforts to compel the express COM
panies and their numerous agencies to
pay license for the privilege of con-
| Quoting q banking and brokerage bust
ness
Legal action was recommended with a
| view OF testing the question in the courts.
| By unanimous consent resolution, pre-
sented by James A. Willoc Of Pittsburg,
| was received and adopted by the con-
vention relating to the punishment OF
| anarchists. The resolution recites that
there exists an imperative necessity for
! the enacting of laws by Congress to
| punish assaSsins and for the suppression
of anarchy by providing.
| 1. Capital punishment for those con
victed of murder or attempted murder
of officers in high public positions.
| q Adequate punishment by impris-
onment of all parties counselling VOL
ence to those in authority.
g. Laws to prevent anarchists from
| entering into this country.
A. That we urge upon Congress and
/ the State legislatures action that shall
| keep our land free from the charge OF
! fostering conspiracies against rulers OF
| foreign lands.
| Secretary Branch, through the execu-
| tive council was authorized to send a
/ message of greeting to President Roose-
| welt.
President Trowbridge appointed
| Messrs Kaufman, Herrick Whiting,
| Pugsley and Mulvaine a committee tc
| prepare a memorial on the late Presi-
| dent Mckinley.
| morrow.