The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1905-10-03
American Association Will
Hold It's Annual Sessions
In Washington From
October 10 to Is.
LARGE ATTENDANCE EXPECTED
PROTECTION AGAINST ABscoND-
ING OFFICERS TO BE DISCUSS
ED-PLEDGE NOT TO CoMPRo-
MISE WITH DEFAULTERs WILL
+ BE TAKEN.

WASHINGTON, October 8. 1905
One of the chief matters to be consider
ed at the annual meeting of the American
Bankers Association, which will be held
in this city October 10 TO 13, will be the
question of law to provide better pro
lection against absconding bank officers.
The executive council has proposed an
amendment TO the constitution of the as
sociation which will prohibit members
from compromising with cashiers and
others charged with crime in any cases
placed in the hands of the association
and resulting in the apprehension of the
criminal.
The crime against which bankers viii
ask chief protection is embezzzlement by
trusted officers In these days of detail
cations by trusted bank employees, such
crimes as cheek raising and safe break
ing become minor evils. The annual
loss sustained by banking institutions
and embezzlement by employees is four
or FIVE times as great as the losses from
burglary and check forgeries. One Of
the officers of the American Bankers
Association explained the effect of the
present form of dealing with abseonding
bank officials as follows:
"a man who steals 5000 goes to the
penitentiary. but man who steals $3.50
600 and can pay back half has chance
TO compromise and get out. This practice
the association will try TO stop. The
temptation to compromise whsc there is
chance to get back part of the stolen
money has been SO strong that croNss
have learned to count on it,
At the approaching meeting Of the
American Bankers Association and eff
fort win be made to pledge the members
of that organization not to make COM
promises with dishonest bank officers.
Their cases will be handed over to the
association for prosecution and when this
step has been taken it will be out of the
power of the bank affected TO arrange a
settlement with the absconder.
1t is expected that the coming meeting
of the, bankers will be the most notable in
the history of this organization. An at
tractive programme for the entertain
ment of the visitors has been arranged
while the papers TO be discussed refer to
important matters of interest to fnan-
ciers. Secretary Shaw and Comptroller ca
| the Currency Ridgeley will make ad-
dresses. the latter speaking on "Bank
| Supervision p
Probably the most palatial train ever
made up at Chicago, will be the bank
ers' special" which will bring the repre-
sentatives from the Windy City to Wash
ington. 1t will carry 500 prominent f.
nancial men from the West. all Of whom
will be delegates to the convention. The
train will consist of ten of the finest Pull
man cars-four open, sixteen-sectioI
sleepers; two compartment sleepers, {
buffet library, an observation car, ant
| two new dining cars. In addition to th'
! regular porters there will be negro maid
and BARRIERS, saltwater baths, a ticke
service for receiving market reports, ant
! probably wireless telegraph apparatus
At Indianapolis two car loads of Indiana
bankers will join the party. The train
will go from Cincinnati to Old Poin
| Comfort, and thence up the Potomac t
Washington on special steamer.
| MOI less than fifty Pittsburg banker
| will attend the convention here. Many 0
the delegates have already complete,
plans for their trip, and it is probabl
that the Others will charter special ca
for the journey. Quite a number o
country bankers in the vicinity Of Pitts
burg will join the party.
! A large number of Michigan fuancie:
will also come. They will leave Detroi
on October at midnight.
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