The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-06-20
NEUTRALITY-SUSPICIOUS.

!; ISOLATION. 8
az
Bankers of the state took possession
of the Tonka Bay hotel, Lake Mime
t tenon te c their m tom
began there at 10 am. with President
O. H.. Havin of St. Cloud in the chair:
The convention hall was nearly filled
when the gavel fell and later trains
and automobiles brought more dele
gates.
Prayer was offered by Rev. Donald
Mckenzie Of Excelsior. The annual
address Of the president followed, with
secretary, treasurer and secretary Of
the protective committee. Informal
reports were made by secretaries of
group organizations in the state. Then
followed the debate between represen-
tatives of the Minneapolis and st. Paul
chapters of the American Institute of
Bank Clerks on the question: Re
solved, That the Conduct of a Savings
Commercial Bank" Ira G. Oehler and
Phil W. Kempien of st. Paul supported
the affirmative and J. F. Cotton and A.
V. Gardner Of Minneapolis the mega
tive. The prize was a silver loving
cup, mounted on a base Of ebony.
President Havill in his report re-
viewed a very satisfactory year. The
membership was increased and profit
able group meetings have brought the
Of practical banking problems. Bou-
quets were thrown at the city bank rep
resentatives at these meetings as being
whole-souled gentlemen, we'll informed,
who had done all in their power to
make the proceedings interesting.
Touching on the attempted banking
legislation last winter, the president
pie of the state to two kinds Of banks
under state supervision. From con
versation with private bankers he had
found that if the present good law
could be amended few private banks
would be left. One amendment would
be to allow larger loan to be made
when the security is improved farm
property, and another to reduce the
minimum Of capital in the very small
villages to $4,000.
Advice to Bankers.
Mr.. Havill urged honesty with them
large percentage of bank failures came
thru! excess loans. The banker, not be-
ing honest with himself and loath to adj
init mistake, advances more money
to protect the original loan, until It
becomes an excess loan. He said:
u am very certain that if bankers
were honest with themselves when they
found loan to be poor, and took the
loss, instead Of putting more money into
bank failures.'
The report Of the executive council,
thru Chairman A. A. Crane, stated F.
E. Holton had been recommended as
secretary Of protective committee.
The association secretary had been in
structed to secure figures from express
| and insurance companies by which Min
| nesots banks could act intelligently and
as unit in shipping currency at the
| lowest cost.
Secretary Chapman also called atten-
ton in his report to the profitable ma
ture of the group gatherings of the
year. Only the eighth district remains
unorganized. Membership had increased
from COG to 635, out of total of 1892
banks. Nonmembers are IS national
banks, 6 savings banks, 81 private
banks and SO state institutions. Bank.
ing interests were urged to jealousy
ing law unless it has had discussion in
either state or group meetings. It was
suggested that committee investigate
the subject Of time-lock cleaning by an
expert, for economy's sake. The secre
tary urged the association formally tc
indorse the bank money-order system
which it was the first association to sug
gest.
Criminals and Their Deserts.
F. E. Holton, secretary Of the pro
| tective committee, showed the neces
sity for greater maximum sentence
for bank robberies, burglaries and forg
ing. With good time and the low sen
fences now given, criminals served only
short times for their misdeeds. Seven
teen robbery. Or forgery notices were
for burglaries and eight for forged
checks. Four losses were sustained by
burglaries. G. f. Morgan of the gang
4 supposed to have robbed banks at Rices
1 Becker and Chisholm Just received
five-year sentence. w. J. Cray got two
years for bogus check work and Charles
Emerson, alias FL. G.. Smith, was ar
rested Monday.
l The secretary suggested ten years a.
4 least for bank burglary; fund from
merchants to follow up the check for
gers; immediate notification for tn
secretary by wire of any fine work b,
forgers or yeggmen.
. Suggests a Surety Company.
Treasurer G. H. Prince Of st. Pau
reported balance Of $2,199. The pro
| tective fund amounts to over $4,000
with $685. to be added this year.
} An event Of today s program was al
address on bank money orders, by ]
F. Kerr, assistant controller Of tn
American Surety company of New
& York. He urged Endorsement Of tn
money-order plan of the American
Bankers association as guaranteed b,
hi scompany and that each banker bel;
to popularize it or the plan would fail
The income belongs OF the banker
blanks cost less than drafts and tn
face value remains on deposit Will
the order is in transit. Already ~
banks have subscribed, he said and tn
number should be Implicated by fall.
In an address on fidelity. casualty an
bank burgldry insurance, G. D. Griffit