New-York tribune., 1902-10-10
BANKERS OPEN CONVENTION
PRESIDENT BIsSELL DELIVERS HIS AID
DRESS-S. NJ GRISWOLD NOMINATED
To SUCCEED HIM

The hrst session or the ninth annual convention
OF the New-York State Bankers Association was
called 10 order yesterday morning In the Clearing
House by the president of the association. Arthur
d. Bissell vice-presdent Of the Peoples Bank Of
Buffalo The convention lasts two days. adjourn
Ing this afternoon. In one Of the paTlors Of the
Waldorf-Astoris. which viii be their headquarters.
the members had been received earlier in the morn
ing by President BisscH Vice-President Stephen NJ.
Criswold. Of Brooklyn. and Secretary T. Z. Car
penter. OF Mount Kisco. y. Y. About two hundred
members were present
N TIE CLEARING HOUSE
After prayer by the Rev Dr. Mackay. President
B.ssell made his annual address. lie said the asso-
citation prosperous. Il cannot imagine one sin
gle reason he declared, why any bank should
hesitate 10 Join this association The benefits are
all way. with no Disadvantages or drawbacks"
President Bisscn commended tho work done by
the Committee Taxation, which he said had
effected the enactment Of a law lsyyiuE a State
tax OF per cent "A year on capital and surplus Of
banks and trust companies in lieu Of the Old method
OF local assessments and special exemptions. He
continued.
An evil is the excessive interest paid on deposits
The hank would b. the oniy gamer If interest
on deposits were cut of. The borrower would get
his money al a more flvoraoIs rate The deposits
also would be better protected. as larger reserves
could be carried without loss. thus rendering
hanks stronger and safer in financial emergencies.
The tendency to make doubtful loans would be
Another evil IS even greater than this refer
the habit OF collecting foreign items at par.
There are no{ TOO many banks ,Larse aud small
are needed alike; Bankers aud deposltors are as
necessary 20 each other as are c1pta and labor.
Neither can prosper withou. the other.
] believe the present bankruptcy law should be
repealed. think there vas demand Tor such an
burden resting on the honestly insolvent man hope
lossy smotheTee by Indebtedness ana wholly una
been obtained. and now i,s only is for those
who dishonesty take advantage Of It's provisions
20 escap pc payine their honest debts furthermore
interfeTeS with the honest your man without cap-
tai who would easily ind assistance II protection
were sure IN case 81 ClSd~ttl-
Iarse banks are absorbing small ones. Whether
this will result IN the greatest good To the great
est number and whether IN The interest OF good
this city / suppose may be considered as beyond the
experimental stage Ii IL should prove the success
system may be adopted IN Stat, and ua ion. How
ever these UNDERTAKINGS may evertuote. think
,,e rey ieat vs. iaToI any ea"5 ~ tbe rra 1lal
bsrs and that makes for the improvement OF the
The oIganization known as the Institute OF Bank
Clerks is not only improving the quality Of bark
employees. but IL is aWakening an enthusiasm re-
suting in direct benefit 70 the banks In large cites
and u augurs well tor the younS men who are sOoi
child OF the National Association Il Is IN the inter
est Of good business for Us 10 encourage H. ine
business as does the man behind the gun in war
We are al the present time IN the midst Of an
United States Is bilrdened with mooey. The banks
OF the country never nae sucu larse deposits anu
tion. Wages are high. and still Cher wages are
was hizher than now Our currency Is on the
strongest and safest basis OnIy one thing seems
necessary 10 make the conditions idcai. that o.
automatic arrangement whereby the currency may
b. increased and decreased as conditions Of trade
require Contemplating these conditions and our
relations % them. we have serious duty To per
form 20 satisfactorily meet our obligations and
properly 10 administer our trust
Following President BissslTs address Secretary
Carpenter and Treasurer Frank T. Howe OF Troy.
read their annual reports. These were followed
BY address on Branch Banking" by William
A. Nash. cf the Corn Exchange Bank Of this city.
After saying that Re appeared before them
champion or the system OF branch banking Sir.
Nash related how in 1888 he was made a member
OF the loan committee appointed by the New York
Clearing House. OF ths committee the late Fred
Crick D. Tappen was chairman.
Gr- Nash then described the functions of the I
said that 10 hi- mind the lesson % ls9s was the
need OF additional protasti1r 10 tI. lou-1rrf1f.r
banks M financial crises TEey might become
M bfTs Of the Clearing House Association which
ts almost impossible for small banks because of
the UAdctlOU- of the association. r they might
associate among themselyes. which could only De
accomplished by union % capital
.dr Nasn was not prepared % say whether rha
sphere cf branch banking co-ic Be- extended bee
youu great and homogeneous city
The following nominations for officers we're made.
President, stephen M Gris void. president o. the
Union Bank. brooklyn, vicC-l lTer!deul. tharlts H
-oDn. vice-presilent ot tho National Commercial
bank Albany. secretary T. T. Carpenter. president
Of the Mount Eisro Rank treasurer T. Jnru-
son. cashier First National Bank. Glens Falls The
election OF Officers Nil take pace TO-DAY Charles
Adsit. chairman OF the associations committee on
laNatlon anIounced That oving % private demands
on his time he found 90 necessary 10 resign state
Senator Persons Of Buffalo. appointed 70 sue
coed him