The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-07-20
YOUNG FInANCIERS
TALK ABOUT CASH
American Institute Of Bank
Clerks Opens It's Conven-
ton Here.
Three Hundred Delegates Present
from United States and
Canada.

Three hundred young fnanciers of the
United States and Canada gathered at
the Hotel Nicollet today for the third
annual convention Of the American In
stitute of Bank Clerks According to
Alfred M. Barrett Of New. York, chair
man Of the arrangements committee, it
is the largest and best convention yet
held.
Two hundred bank clerks and ladies:
in charge Of President III. P.Ne Of
the Minneapolis chapter, arrived early
by special Milwaukee train from Chi
cago, after a record run Arrival at
Milwaukee was one hour late and de-
lay of an hour and a half was expert
enced at North Milwaukee repairing the
electric plant, yet the train arrived in
north and west Of Chicago arrived by
other routes.
At 1890 Chairman Barrett called
the convention to order. He said that
the organization was a great and pow
erful one based on education, and work
ing along, lines OF Improvement with
the idea that men must be equipped to
engage in great financial enterprises.
| The bankers have given assistance in
the work, he said, by allowing clerks to
attend these meetings.
The Mayors Welcome.
After the invocation by Rev. DIR. L.
man reduced Mayor D. P. Jones, who
welcomed the guests to the city; f. R.
Salisbury, who spoke for the CONNER
cial club and A. A. Crane, who repre-
scented the Minneapolis Clearing House
association. The mayor was received
with mendous applause. He gave the
clerks credit for the first beautiful
l xroo IF tho ruhioh ho1 ro.
lived anxiety as to the crops. The pres
ence Of half the police force at Mime.
tonka today, where the clerks were tc
meet, he averred, amid much laughter
was merely coincidence.
The first paper, by Z. Stewart.Pat
tterson Of sherb'rooke, Can, on "Cana.
1 growth Of the Canadian system of bank
ing, along with the development Of
the country. He gave a rapid review
Of the legal requirements of thirty
two chartered banks and branches OF
i the dominion under the latest law. Mr.
! Patterson presented each member Of the
{ convention with a map illustrating the
branch system, as shown by territory
covered by eastern township banks. 1T
contained a statement of percentages Of
Canadian chartered banks, also figures
1 showing the volume Of circulation Of
Canadian banks for the last five years
.
4 Trust Companies Discussed.
4 A. paper on g Trust Companies wa.
i delivered by w. +. 3MackaY Of Hayden
Miller s. Co., former president of th,
1 Cleveland Chapter. He said that {
notable feature was the short time i
had taken this movement to reach it
present proportion Of 1 100 companies
The greatest increase had been in thu
last ten years. The cause may be fount
: in different methods of doing business
rather than in inherent qualities. Tn
department state'' features of thu
business he detailed, but placed tn,
greatest stress on the banking function
as it. constitutes the sinews Of it's opera
tions. He believed the trust con.pan,
to be an agency to develop an unculti
vated field, rather than to have f]let
! niche which it,.had created. In
. few years it would be the typical bank
ing institution.
! The last paper Of the morning wa
/. delivered by NJ. F. Bauer of the Amer
lean Exchange National bank OF ,Sev
York. Mr.. Bauer gave historical
sketch Of the statutory development
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