The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-06-28

made friends of all who had the good
fortune to meet him
Mr. Hardy is about so years old, and
was born in Petersburg, Va. He has
been in the banking business since early
manhood and is now one of the most
Iprominent bankers in the South. He has
been President of the Norfolk National
Bank for several years. and under his
isuldlng hand that bank has been wonder
fully prosperous and is now one of the
Isoundest banking institutions in the land.
He Is 4 son OF Mr.. Henry c.. Hardy, who
married Miss Hudah Dozier from East
Iern North Carolina. He married his
cousin Miss Lucy Hardy. daughter of
the late DR.. Hardy. of Norfolk. and has
tour children. His Oldest son, Wellington
Hardy - Secretary and Treasurer Of the
Consolidated Street Railway Company
LOT Norfolk, and his other son, Russell
Hardy is at college He has two charm
ing daughters, one Of whom will enter
society this winter He started the bank
ing business in Norfolk. He was elected
President Of the American Bankers AS
sociation at its session in New Orleans
last year. and was the youngest man ever
elected TO that position His reputation
as banker is national one, and his
views on all banking subjects are highly
regarded by the bankers Of New York
and other centres of financial influence
The full text of Mr.. Hardy's admirable
address. which ought to be read by every
business man as well as every banker,
appears on page IL of this paper
| COMPETITION AMONG BANKS"
The next address was made on Compe-
ttion Among Banks" by Mr.. Walter l..
| Parsons. cashier OF the Bank OF Pee Dee.
Rockingham. In substance Mr.. Parsons
said:
Mr. President. Members of the North
Carolina Bankers Association, Ladies
and Gentlemen:
IF you will pardon the improperly OF
attempting to speak without manuscript,
/ promise not to add to the offense by
stating anything new or startling. Com
petition among bankers may be either
legitimate and beneficial or excessive and
hurtful. 1t is universally popular. ex-
cept with the individual who is being left
behind. or to change the figure. "the I'M
der dog in the fight" To such it is a
bitter dose. but generally the medicine
needed. tonic that gives life and re-
newed strength. To my mind, the inn
preston made by the term is one OF de-
velopment and improvement. This is
what may be termed the legitimate sphere
| of competition. To have competitor in
any line of business brings to light the
defects. weaknesses and dangers and leads
| to their correction. as it does to the
adoption of what on either side is shown
| to be superior. Competition, therefore,
is one of the principles of human progress.
/ am not aware of any particular form of
competition among the North Carolina
banks at this time of which / am ex-
pected to speak. The multiplication of
our numbers in recent years presents a
condition interesting to all. and intensifies
the Importance of the question we are dis
cussing While | believe among banks
there is legitimate field for competition
I also believe it is more restricted in ex-
tent and manner of expression than in
many other lines of business Our efforts
have but two objecN in view. namely
to attract all the money we can induce
to stay with us. and to loan it out safely
for the interest How, then may bank
properly increase its business? This is a
question which / have no intention of at
tempting to answer in detail In a gem
eral way, would say by emphasizing
the Importance OF correct business prin-
ciples. in its community. Safety will al
ways be the jewel with bankers. What
ever tends to increase the strength and
safety of a bank may be adopted and en-
phasized before the public The bank
should also look to increasing the facii-
| ties for handling in an attractive ay the
| business it already has. In the last place,
| by the Improvement of the personnel of
its officers and employees In other Words
seek business by meriting it, by building
more securely the foundations of your
own house, rather than by punching at
the house of your competitor.
/ There are many methods for attracting
| business resorted to that are harmless.
Some are short-sighted and of little value
or moment one way or the other. Most
of US have learned long ago that not every
customer is desirable one. What good,
for instance, comes from discussing in
discriminatory the defects of a COMPETE
tor? In advertising them, we simply
4
their removal. If let alone, that may
bing some good business our way /
have heard of other methods that are
said to be in vogue in some parts Of the
State, such as the hospitable handshake,
the winning smile, etc OF the virtue of
these, | cannot speak but would not like
to put much confidence in them. | have
never quite gotten satisfactory estimate
OF the banker who can say no to the man
whose business has been solicited as easily
as to him who came without it. How
shall bank competition be confined to its
legitimate sphere?
1. BY good understanding between
those who manage banks.
2. By attending local and State asso-
Citations. Here we meet experienced men
Of other institutions They won't tell us
many Of their secrets, but we can absorb
a good deal from them. After all, this
must always remain in its last analysis
La local question, and its happy solution
rests with those who are nearest the bur
den. Much depends upon the ideal of a
president or cashier or board OF directors
| fr..o - nc af fha1,