The Evening statesman. [volume] (Walla Walla, Wash.) 1903-1910, 1904-06-17

less applicable to banks than to ma
lions. Every bank failure is more or
less fraudulent. \ bank which lends
all its money may make a little more
should exercise the greatest care in
using the funds of thu Stockholders
Do not above all use money for yo,1r
own schemes. 1t looks ugly. The
bane of banks in Washington and the
Northwest is the inOrdnate desire of
many managers for the stockholders at
the expense of the security of the
stockholders. Deposits have increased
but capital stock and surplus not. You
should keep large reserve you may
make less money but will sleep better
He spoke Of the need of some wav In
which the strong banks could help the
weak ones when run on. Panics are
not apt to be simultaneous and if a de-
positOr knows that the strength of all
is supporting the weak he will not
fear. But this is not practical now be-
cause restrictions are not severe
enough to make it safe for strong
banks. Mr.. Mills advocated some form
Of emergency currency to remedy
panics, but it must be one which could
be quickly issued and quickly returned.
Such a currency has been Of inesti-
mable value in France and England.
1t must be as nearly akin to the pres
ent bank currency as possible He
suggested a five per cent safety fund
also first lien on the assets of the
bank. But the treasurer of the United
States must say when an emergency
exists otherwise the money should not
be used
Conans Address.
f. I. Conan, cashier of the First
National bank of Colfax, Wash, spoke
next. His subject was Some of the
Elements of Good Loan The man
who knows what answer to always give
to request for a loan is deserving of
place behind any financial desk in
the world. 1t is as important to know
when to say yes as when to say no.
Contrary to popular conception the
banker is rather the servant of the
public than an autocrat. He spoke
of the haphazard information of cor
respondents and said there should be a
closer relation between the banker
and the commercial agency.
He spoke of the requisites of good
loan. 1t should be made to local par
could be used again. Political fra
ternal and social relations should not
influence the calm business judgment
of the banker. Mr.. Conan also depre-
Gated the zeal for large dividends.
Other Addresses.
G. V. Holt, manager Canadian Bank
of Commerce, Seattle, gave a general
review of the banking system of Can
ada as contrasted with our own form.
Ex-senator George Turner was pres
ent at the meeting as guest of ex-
Governor Miles C. Moore and was ask
ed by President Lord to make a few
remarks. He said that his experience
in banking consisted mainly in re-
ceiving a cold stare when asking for
loan and the readiness with which
the interest was figured up at the
close. He urged the necessity of more
stringent laws to regulate state banks
and private banks. 1t is a tribute to
che integrity of the banking fraternity
that there has been so little cause for
complaint. The most important thing
this association can do is to take steps
towards gettings laws for the govern
ment of this class of banks.
\ general discussion followed on
bank money orders and express rates
on currency. Secretary Kaufman led
the discussion and made a very inter-
esting exhibit on these points. The
convention adjourned to meet on Sat
urday morning.
W. T. Young-pakery and grocery
211 West Main street.