The Montgomery advertiser., 1905-05-27


 twenty-six states of the union, scat. tered north, east, south, and west, and Is, notwithstanding It's slight lmper: thought, after due deliberation on the part of those pre-eminent in banking and legal circles. Alabama should not sing links of the chain of progressive business methods, and with determfna- ton we should strive to lengthen as well as strengthen the chain.
 Gratifying Fact.
 It Is source of special congratula- tion that during the year just ending found it his duty to carry cut the pro- visions of Section 8 of our Bylaws. which provides that he shall notify ministration of any fraud or crime | perpetuated upon any bank or banking | firm in the state. This desirable con dition is doubtless due to some extent ship of our banks in the American Bankers Association, the Protective eG%mttee eIaItte of which aided on by the scare.crow to the usually unconven. tional bank-crook. Your President earnestly recommends to each and ev- the advisability of becoming also a member of the national association.
 It should be a source of pride to ,nl our that the banks of Alabama have re- gently shown at one and the same time. their financial strength and the state is held by home institutions. Their demonstrated willingness to subscribe for over five million dollars odd thousand of the states refunding bonds, offered few weeks ago. should stimulate q disposition on the. part of every banker in Alabama to join hands show wy to o0t the ,Tse world S and Wall Street. that there is money at home to run wealth. But let us not be selfish. and with improved conditions relative to delivery. ete.' do as well by y,o our r, state not a spirit of monopolistic impulse seize us, if successful In securing the investment, but to reasonable ex- those of our friends in other sections who have hitherto shown an equal confidence in ourselves in Alabama
 In passing. permit me to advocate by the bankers of Alabama. This or competitor of both the Express and Postoffice Money Order, and was or iginated by the American Bankers As eurity u iSo company. 9 R TRhe cost of obtain ing them is trival. while there are
 he usa by banss o deEveq e% report for the fiscal year ending June 30, 1904, shows an issue of more than fifty million money orders-tne larg- year. Inc net revenue was something over two and @ half million dollars. an increase of nearly three thr hundred hundred year. This business. and that of the Express Companies 0he. figures of which are not obtainableO properly add our strength to the Bankers Mon ey Order contingent, as by so doing issuing banks will attract business competing channels. safe and uni- form system of Money Orders having been adopted. it now remains for the public fully acquainted with the ad
 vantages of the bankers money order over all other kinds.
 A Rural Practice.
 Permit me, gentlemen, to refer to a practice which has been brought about in the smaller towns of our
 state sy that Tya5g sssMssg osT oS1 called check. drawn Payable in New York exchange at current rates; Com fife of trade. and aggressive competi- ton Is always laudible undertaking, even among banks. when 1t is prac- taea that conforms oPSm anG to tEe dignity of bank checks" advisediy, Tor an instrument at current rates" Is not a check, but is simply m order for exchange. Were ali banks in this country to adopt a system of orders like this. fin lieu of the time-honored check having value in cash. each bank would be. come a link in a grand chain Of lin money. This custom. so far as l have observed. Is now confined to our state. and as the legal effects of the | in the opinion of some of our states abIest attorneys does deprive, such in- struments of their negotiability as auiring depositors to issue such orders | should be discouraged in the interest
 of sound banking principles The SO long time in vogue. 1t would ap-
 pear should work no hardship upon
 institutions now. using this form of
 check Sesn f9E fixed the as
 such local banks and their connec-
 tions, and 1t is ever possible of regu-
 lation In PropoTtSon S tS 10 the hsras seo
 cure new business.
 1 Concerning that great movement fn- augurated in the city of New Orleans will treat too lightly the great pos abilities which are ours as Alaoam. !.
 ians by virtue of the great labor of of cotton growers of the South. To iden- tify the thousands of producers with I an organization like the southern
 Cotton Association, having as its ducer himself, Is a forward step in the
 direction of his emaneipation from | debt, which means higher degree of | education and civilization to genera tions to come. more modern convent
 ence in the home. and credit balances | in the bank
 We should encourage the. movement 1 in every way possible, consistent with
 true knowledge of the condition or 1 couraged as to results, for it cannot l be expected that within few months l the element of desired results can be
 had which Is necessary to overcome
 Before closing I bespeak for each of
 you present most profitable and pleasant sotourn in the Gulf City
 profitable. in that an exchange or | iiy beneficial; enjoyable. because the 1 very atmosphere is odorous with that hospitality of a city where the mag | nolla blooms forever, and all the best things of civilization are found In pro- | fusion.
 Concludinp. let me thank you for the honor and privilege conferred upon me of serving you during my term of ] office, and in no lesser degree am
 indebted to you and our active and | operation extended in the promotion i of the good of the order. shall look back upon the period referred to as an era in which the inspired hope of re- | taining the goodly fellowship of my brother bankers of Alabama, and, so ! far as 1t might lie in my power. In ] promoting the best interests of our selves, but of those among whom we | live who toll for the future trusting