The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1903-07-17
GuMM|NS TO SOUTH
DAKOTA BANKERS
lOwa's Chief Executive Prin.
cipal Speaker at Meeting
at Mitchell.
ne TALKS on TRUSTS
The Vastness of Modern Combinations
Of Capital Are Essential to Pres
ent Day Business, but Methods
of Some Are Condemned.

! Mitchell, S. D., July 1O.-Governor AL
! bert B. Cummins of Iowa was the cen
| trail figure at the closing session of the
state bankers convention here lasl
evening, when he addressed the assem-
! bly, on the subject of corporations anG
| trusts.
The convention has been an entire
success and the meeting last night ii
the corn palace building was both
large and enthusiastic, about q hum
dred visiting bankers being present
and large numbers Of townspeople.
Judge Bartlett Trip of Yankton was
the first speaker of the evening. He
was well received and his remarks
We're much appreciated.
Governor CummniS was given a
rousing ovation by his audience when
he arose to speak. His auditors were
appreciative of his efforts and for an
hour and a half he talked most in
structively and entertainingly, show
ing him self to be an expert on his sub
ject.
The distinguished Iowan said that
he did not oppose combinations OF
capital, no matter what their magni-
tude, for everything in this century
had to be made on great scale. 1t
was evident that the United States
ruled in the business and commercial
world and great corporations and COM
panes were necessary to retain this
supremacy.
However, he said, corporations have
been recently organized not for the
purpose Of economical production for
the benefit of the consumer, but for
two purposes, neither of which was
commendable, to make money out OF
the taking over of the independent
concerns and to sell their own watered
stock.
In conclusion the governor took a
roseate view Of the country's prospects,
and said he believed the future held
even more glorious things than did the
past.
The Morning Session.
President L. x. Lord Of Parker.
called the convention to order at goo
o'clock yesterday morning. The first
hour of the session was given over
to a program of welcome. quintette
rendered fine vocal selections, and Rev.
It. H. Youngman of the Methodist
church led in prayer. A mandolin club
also gave some pleasing selections
George A. Silsby, mayor of the city and
national bank examiner for the state
gave the address of welcome and was
responded to by George c. Fullin-
weider, cashier of the Standard Saw
ings bank Of Huron The annual adj
dress Of President Lord was a very
interesting paper.
AT the afternoon session officers were
elected as follows:
Presldent-E. l.. Abel, of Bridgewa-
ter.
Vice President-W. A. Mackay, OF
| Madison.
Treasurer-S. Drew, of Highmore.
Secretary-George c. Fuilinweider
of Huron.
Executive, Council-H. s. Rowe, f.
G. Issenhuth, O. L. BraMson H. j
Meidel, D. M. Inman. NJ Ii. Beebe, c.
e. Mckinney, George T. S. Schneider, f
L. Clisby.
Delegates to American Bankers AS
sociation-E. L. Abel H. r. Dennis, L.
K. Lord, o. L. Branson.
The convention was well attended
fully 100 bankers, some from Iowa, be-
ing the guests Of the association.
Governor Cummins was attended a
reception on his arrival in the after
noon. After last evenings program
the visitors We're rendered a smoker in
The Mitchell club rooms