The Montgomery advertiser., 1904-05-13

or OVef0rdItS.
 He quoted from the figures sent in to the State Bank Examiner showing that 10 per cent of the depositors of the State had everdrawn their ac- counts and that a per cent of-deposi- tors was in the habit of doing so. He showed clearly the danger to small bank existing in the frequent over drafts made by customers. He did not minimize the awkward position the banker was placed in when he was re- quested by a good customer to cash check calling for more money than he had in the bank. but he urged his hear CTS to recognize the danger which was In these demands to the country bank CT. He suggested that this method should be stopped and that all bankers of the State should be firm and united in refusing pverdrafts by notes or oth- CT securities.
 A thoughtful and able paper was read by Cashier George H. Malone of the First National Bank of Dothan on "Defects of the National Banking Laws"
 MT. Malone showed that he had been q thorough and thoughtful student of national banking conditions and na- tfonal banking laws. His familiarity with these conditions and these laws had shown him the defects of the laws and the needs of the conditions The defects were pointed out clearly and succintly.
 National Banking Laws.
 Mir. Malone's paper dealt with the intricate machinery of the national banking system and it will form most valuable reading for the bankers of the State in the published reports of the Association.
 He pointed out that the national banking laws had been passed in 1863 to meet conditions created by, the war. Since then the system had remained practically the same with but few al- terations. That its basis was good was proved by the fact that 1t had endured all these years practically unchanged. But having been passed to meet condi tions created by the war it was unde- niably susceptible to improvement In the first place. MT. Malone thought that the requirement as to the taking out of government bonds was too drastic upon the smaller banks of the country as 1t hampered them too much in the use of their capital and restricted cir culation in their community
 The feature forbidding loans on real estate should be repealed in the ,opin- ion of Mir. Malone. In the agricultural districts the safest and surest loans were made on real estate. Moreover. renewal of such loans was rarely ever asked for.
 Noble Band of Patriots. Mir. Malone congratulated the Asso- citation on the soundness of the cur | rency system of the United States. We owe lasting debt of gratitude to that noble band of patriots who as- l ocmbled in Indianapolis in 1896. nobly H | the country of sound and stable | financial system" said Mir. Malone. This sentiment was heartily cheered | by every member present. The report of the committee named by | the president to audit the books of the treasurer in its report stated that the
 accounts and vouchers had been exam.
 ined and found to be correct. The com
 mittee was composed of George T. Hall
 J. T. Maxwell and A. F. Armstrong. The
 report was adopted.
 1 In response to calls Hon. John D. Bur nett of Evergreen spoke briefly and humorously on "The Experiences of a | New Member Mir. Burnett took occa. sion to say that his experience at Mont. | gomery at the first session of the Asso.
 citation which he had ever attended had | been so delightful that he would never
 miss another opportunity of attending, Il
 1t was in his power to do so. The dean of the Association, J. H
 'Fitts of Tuscaloosa in response to com | plimentary calls spoke briefly. The morning session of the Associa tlor | was then adjourned.
 The members scattered about the l grounds, gathering in groups in the de- lightful shade and discussing fragrant | perfectos The hour in which the force oi cooks and walters were at work pre- pairing the great dinner was pleasantly spent in an exchange of stories and in swapping banking experiences. The local
 bankers had provided for every demand which might be made upon their hospl- talIty and no moment was allowed to drag wearily.
 Fine Barbecue Served.
 At o'clock the word was given and the great crowd gathered at the long tables, covered with snowy white paper The best products of the art of skilled and experienced cuists were set before the diners, who in their turn fell to with gusto that was in itself sufficiently complimentary to the best efforts of the cooks and cue artists.
 As the dinner progressed President Smith rapped for silence along the lively line of diners and called for a speech from President T. w. Palmer of the Tuscaloosa Bank on "1she Teacher as a Banker.".
 Banking with MT. Palmer Is a side is- sue. he being a professor in the Universi- ty of Alabama. He explained that as the office of Xice-President was without salary and was practically a slnecure he had not gained any very wide expe- rience in banking. but he spoke for high ideals and he urged his hearers to CO., operate with educational movements as one of the surest and best methods of developing the matchless resources of Alabama.
 A brief response to the toast: The Bankers of Montgomery" was made by Louis B. Farley. The local bankers, he said, had been gratifed. very much grati- fled at the expressions of appreciation which had met their efforts to entertain the members of the Association. He spoke too. of the pride the Montgomery bankers felt in entertaining such a splendid body of men.
 The afternoon business session was call ed to order by President Smith soon as the dinner had been completed. Presi- dent Smith threw open the meeting for expressions of opinion from the members as to their impressions of the Montgom- cry meeting of the Association. The members who spoke were unstlnted sn their praise of Montgomery hospitality and the pleasure they obtained from the sessions of the Association. They reaf- firmed their allegiance to the Association and declared that they would make every effort to meet the other bankers at every annual gathering. Those who spoke were W. c. Maxwell of Alexander City. N p Renfro of Opelika & S. Broadus