The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1901-10-15
TAKES 10 FIGURES
A Combined Capital of Eight
Billion Dollars
Is Represented at the American
Bankers Association.
ANNUAL co INVENTION
Begins a Session of Three Days
Duration at Milwaukee.
First Day Consumed Largely by
Reports of Committees.

Milwaukee. Oct. 15.-The twenty-sev-
enth annual convention of the Ameri
can Bankers association began a three
days session here today. Bankers from
nearly every state in the union are
present. The members of the associa-
ton represent a combined capital Of
over $4,000, 100000.
The convention was called to order
by the president, Alva H. Trowbridge,
of New York city, by the Introduction
of Alexander j. BurrOwes, president of
Marquette college who delivered the in
vocation
Addresses of welcome were made by
| Mayor David s. Rose on behalf of the
| city and J. W. P. Lombard, president of
| the Milwaukee Bankers club on behalf
| of the local bankers.
The reply to addresses of welcome
| and the annual address of President
| Trowbridge followed
President TroWbridge said:
I'VE are gathered today where we
/ expected to have gathered three weeks
ago today in a business session of the
association. AS we were preparing fof
meeting at the earlier date the world
was shocked by a terrible crime at Buf-
falo, which cost the life of our beloved
| chief magistrate. AS we have stood
over the bier of our dead, anger at the
murderer has sOftened in the admira
ton and veneration for the man who
sleeps. while we think of his great work
for this nation in every condition of
life. A man above his fellows by rea-
son of his richer character, he had done
for US in the development of our com
mercial and financial greatness what
no man has done before and whether
we now, or have heretofore adopted his
opinions, we gratefully accept their re-
suits. The grea tneSS of the union is
thoroughly established that even this
great calamity can not hinder our pro-
gress and the man who presides in our
highest Office for this cause has un
doubtedly come into the world for such
time as this. Let us tender to him
due loyalty, even while we mourn our
ruler dead"
James ]. Branch, secretary of the as
sociation then presented his annual re-
port, showing the membership alG re-
sources of the association to have in
creased as follows:
September l, 1900: Paid membership
4,391
Annual dues, $50, 700.
October TO- 1901: Paid men bership, s.
504.
Annual dues, $50 $50.
In the past year 200 members were
lost through failure, liquidation and
withdrawal from the association re-
ducing the membership to 4,191; 1,313
members have Joined since September l.
1900, a net gain over last years total
membership of lib.
The roll now embraces ,504 members,
whose capital, surplus and undivided
profits aggegate S1,718,727, AL; combined
deposits Sc, 2SS. 1862 total $S.007, ,6S2 GAL
The report of Treasurer George NJ
Reynolds was then presented.
Caldwell Hardy then read the report
of the executive council.
HARDY'S REPORT.
1t is stated that the membership had
grown from about 1.500 in 1895 to 1850
in 1900, an increase of 200 per cent in
five years This remarkable record,
continued the report, is eclipsed this
year by the addition of nearly 1000
members, the largest number ever ad-
ded to our membership within
year.
The report alluded to the work of the
protective committee as one of the
most important features of the associa-
tion, and the committee is credited
with accomplishing decided results in
the line of the 1sceaseless warfare which
we have declared and carried on against
professional criminals and in securing
immunity for our members from these
deft and light fingered gentry.
On the subject of ,.niform laws, the
report stated that the negotiable instru-
ment law has been enacted in seventeen
states.
After referring to the repeal, by con-
gress of the revenue tax on bank
checks, the executive council promises
renewed efforts at the coming session
of congress toward securing repeal of
the tax on capital and surplus of banks.
The report declared that the question
of a suitable currency system, adapted
to our needs and our banking system,
is one of the living issues of the day,
and will 50 continue until it has been
inteligently solved"
In conclusion the growth of the as
sociation was averred to be typical of
the times, which are big with increas-
ing wealth and prosperity.
UNIFORMS LAWS.
Frank w. Tracey presented the re-
port of the committee on uniform laws
The report set forth that the negotia-
BILE instrument law had been considered
in many legislatures last winter but
was successful in only one state-Penn-
sylvania Efforts have been made to ed
ucate the people in the different st~tes
in regard to the law. The lawyers from
the smaller towns are opposing it, as one
of them said. because it would prob
ably take away my bread and butter"
The law has been adopted in IL states
and the committee recommend that the
work of educating the people be con-
tinued-
Mr. F. w Hayes, the chairman, pre-
Sented the report of the committee on
taxation of express companies. The
committee stated that they were unable
to report any substantial progress as the
result of its efforts to compel the ex-
press companies and their numerous
agencies to pay a license tax for the
privilege of conducting a banking and
brokerage business
The principal object in the way has
been the opinion of the attorney general,
holding that the express companies are
not transacting either banking or brok-
erage business within the meaning of
the war revenue law
The committee recommended action
with the view of arranging for a suit
to be brought, which may if necessary
be carried to the supreme court of the
United States
hold that the express companies were not