The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-01-30
START In TOGETHER
S. T. Johnson, New Public Elk.
aminer, Meets State Bankers.
NEW ASSOCIATION TO BE FORMED
and Won't Affect Other
Body.

In accordance with an invitation Of
Public Examiner S. T. Johnson about 100
of the Minnesota state bankers met with
him in the senate chamber, st. Paul, to-
day. They were welcomed by Governor
Van SAINT. Ferdinand Willius OF the Min
nesota Savings bank Of st. Paul was
chosen chairman of the meeting and Per-
ry Harrison of the Security bank of Min
naepolis, secretary. Chairman Willius
addressed the meeting, paying a warm
compliment 10 Public Examiner Johnson.
He also Endorsed the Minnesota banking
laws as a credit to the state.
Mr.. Johnson made a short address, set
ting forth the objects of the meeting. He
said the intention was not to form rival
association tos the regular Minnesota
bankers association, but to form some or
ganization that would be OF assistance TO
the state banks. s'
T. Closer Union Favored.
J. It. Wyman, of the Metropolitan bank,
of Minneapolis, advocated closer fedora
ton among state banks; the establishing
of number of reserve centers for state
banks, from fifteen to twenty in number,
throughout Minnesota; legislation to per-
feet the reciprocal relations between the
reserve centers and the state banks IN
general. Mr.. Wyman pointed to the fact
that the present meeting of bankers was
the largest ever neld III lie stdte anu a
committee should be appointed to push
this legislation.
Charles Myths, president Of the Adrian
State bank, read a technical paper ON
Books and Systems Of Accounting
J. r. Mitchell Of Winona read a paper
on Estate Banks and Their Advantages "
He maintained that state banks were
growing in popularity. He was opposed
to any legislation that would promote an
toe riStia 70 limo hat a q nd n a.
tional banks, as the most friendly compe-
tition should prevail. The state banker
is public necessity and here to stay. He
need fear no antagonistic legislation. He
has nothing to fear from currency reforms
proposed, community of interest plans Of
national banks or proposed branch bank
systems. g..
Banks and Trust Companies.
''The Relations of Trust Companies to
Banks was the subject of a paper by
F. A. Merrill of Minneapolis. He made
the point that bankers were losing their
prejudice against trust companies; that
the trust companies were useful to the
banks. The northwest should take the
profits on it's own financial operations as
far as possible through it's own trust COM
panies instead of allowing the business
to go east. The entire community from
the banker to the laborer, has an inter-
est in the prosperity of the trust COM
pany. Mr.. Merrill advocated the organi-
cation of more trust companies in the
northwest.
L. Ellington of Crookston said there
was no reason why the state banking sys-
tenn in Minnesota should not be made
IDEAL His paper discussed the supervi-
sion of banks. He advocated uniform
system of bookkeeping, strict supervi-
sion of all loans and securities.
The meeting adopted a resolution Of
fered by F. A. Chamberlain of the Sc
curity bank, Minneapolis, providing for
an increased appropriation for the Office
of the public examiner, to enable that
office to better care for the increasing
demands made upon it.
Mr.. Harrison was also given a vote of
thanks for his efforts to make the meet
ing success.