The Montgomery advertiser., 1905-05-28
RUSSIAN AND JAPANESE CAPITALS ARE EAGERLY
 AWAITING THE TIDINGS|

 10:45 D. m. Led by the band, which had been in attendance throughout the evening, the party marched to the handsome new building of the Mopile Bank, on the corner Of St. Michael ana Royal Streets, where they were served with champagne punch. the compliment of the officers of the bank.
 Thus ended the largest, the most sat isfactory and the most enjoyable con vention the State bankers have so far held.
 Morning session.
 The members of the association were a little tardy in gathering Tor the morning session. The numerous Win dows of the big hall were thrown open and the severe heat of the morning was tempered by the breeze which came up from the bay
 Tn fiannels, in serges. with wide ex- panse of shirt front the bankers sat about in the hall with palmetto fans and found 1t cool and grateful sport. The association was rapped to order by President Farley few minutes after ten o'clock.
 The President presented to the asso- citation J. c. Clark. of Atlanta, who was to speak on the subject of Bond ing and Insurance" Mir. Clark Is ident- flied with one or more prominent com- panies whose business Is the insurance
  tions against loss by burglary or in- stitution. It was intimated in MT Clark's remarks that the companies which he represented had made a ten- tative proposition to the association, which If accepted by the members in body would result fin each of them securing lower rate of indemnity in- surance.
 MT. Clark is we'll dressed, we'll sroomed business man with well shaped head, little thinly matched on the top.
 MT. Clark alluded to the acknowl- edged necessity of having indemnity insurance for losses against burglars. "In. the past seven years. said MT. Calrk, "the indemnity companies have paid out for losses caused by burglary the sum of $3,500, ,000. The payments for losses by defalcations have been even heavier. The indemnity compan- ies have paid out large amount for defalcations in banks. tfnctly separated from losses sustained in other financial institutions. The business done by the bonding company Is however. done among institutions that are either banks or closely identi- fled with banks. These companies have in the past ten years paid out no less than the enormous sum of $s7,000,OOO for losses caused by defalcations. Therefore the necessity of protecting your property from the skillfui work of the shrewd midnight craftsman. is well as from the weak official whose speculative mania units him to resist temptation, presents itself to all Nor should the painful experience or those who have been forced to sacrifice tneir property to meet losses which personal l friendships have brought upon them. Cheaper Indemnity. Mir. Clarke said that he had after some correspondence submitted to the association a proposition which would result in the members securing a cheaper rate of indemnity insurance if the association would take up the mat ter in a body. It was. not. the speaker said "A question which could properly be discussed in the open meeting, but which should be considered by a com mittee.
 President Farley expressed regret at the enforced absence of Comptroller or the Currency William B. Ridgely HIS place on the program would, however, be taken by President James G. Hay den of the Whitney National Bank Of New Orleans, who would address the Association on the "Working of the American Institutes for Bank Clerks.
 MT. Hayden, tall and inteliectuai looking banker. spoke only snort
  he had never heard of bank presi- dent who had been educated as bank nreaident He described the usual way in which a bank was organized when the local men who were going to organize the bank got together ana parceIled out the officers of the bank These men got along fairly well, pe- cause they were ordinarily cohserVaelve business men who knew that no money ought to be paid out except when good security had been put in It's place
 Al it's last meeting the American Bankers Association had taken steps to have published and distributed letera- ture informing bank officials and banks clerks, not only of the duties Of thelr office. but upon other matters which would broaden their knowledge or the affairs of the world.
 MT. Hayden told the Association that, on his return from meeting or the Board of Directors of the American Institute of Bank Clerks, which he was a member, he called a meeting of the Bank Clerks of New Orleans at the St. Charles Hotel. Here a strong ana enthusiastic organization was formed, there being no officer of the organiza- tfon who was not bank clerk Here the literature sent out by the instltu- tion was read and considered and sub iects of special interest to bank cieFks and bank officials were discussed anu considered The organization had re- suited in great good among the bank clerks of the city of New Orleans.
 MT. Hayden decried the custom ot working and overworking bank clerks
 "The clerk who Is at his desk every night after dinner" said MT. Hayden, "eyidences one of two things. He IS either incompetent and should pc re- moved or he is overworked ana snoulo have an assistant. How much Of the the defalcations, how much or the losses of banks, resulted from over worLed hank clerks could not be well estimated.
 At the conclusion of President Hay denis remarks J. H. Fitts rose to flo his second protest against the conVen- tion being called the fifth annual con yention of the bankers.
 'This Association was organized in 1s9l." said MT. Fitts. Tt was a live and energetic organization for seven years, holding meetings in various cit- lea of the State. It's life and usefulness were only temporarily stopped by the President, at that time who attempted to use 1t in building up for himself vast political machine. There was then an fnterregnum of three years during which no sessions of the Association were held The records and the publ- cations of the Association have been nled with Director Owen of the State Department of Archives and History"
 MT. Fitts was sustained in his pro- test by General Whiting who confirmed what he had said. The Secretary of the Association was instructed to com