Evening star., 1905-10-11
DOWN TO BUSINESS
American Bankers Associa-
tion Meets
AT NATIONAL THEATER
MEN OF MONEY CALLED TO
ORDER TODAY.
Address by Secretary shaw-Commis
sioner Macfarland Proposes Mon
ument to Hamilton.

| ing at the New National Theater For
| thirty years the association has worked in
| dustriously to advance the interests of the
men of finance throughout the country. 1t
| has provided measures that systematic and
| simplify the banking business of the coun-
| try and reached the zenith of its great
| ness and power today, when, as the guest
| of the people of the District of Columbia.
! 1t assembled in this city to hear addresses
| of interest from the highest authorities on
| finance in this country and Europe. and to
| pay its respects to the President of the
United States.
There is no ceremony about the con-
| duct of the business of the bankers asso-
| citation. An organization of business men,
| its meetings are conducted on strict busi-
ness principles, simply and expeditiously as
possible.
| The theater where the meetings of the
association are being held was handsomely
decorated for the occasion. Flags were
draped over the private boxes and the
stage was set with n forest scene that
formed a pleasing and fitting background
for the tall palms and potted plants that
We're arranged around the back and sides OF
the space reserved for the speakers and
officers.
Welcomed by Mr.. Edison.
1t was but a few minutes after 10 O'Clock
when President E. F. Swinney called the
assemblage to order Rev. DR.. Randolph
| H. McKim, rector of Epiphany Church,
pronounced the invocation. which concluded
with the Lords prayer. all the assembled
! bankers repeating the words with him.
I'VE have been Hospitality received anG
| handsomely entertained by the people o.
Washington, and they promise US ever
greater entertainment" President Swinne5
said Their welcome has been warm. but
l o,,f Of har
! I have the honor to introduce Mr. John JOY
| Edson president of the District OF Colum
bia Bankers Association.
Mr. Edison was greeted with prolonged
| applause as he rose to speak He declared
| that Washington was always glad to wei
! come strangers within It's gates, but the
| members of the association are not
| strangers"
| ''The American Bankers Association has
/ held thirty annual conventions since Its
| organization" Mr.. Edison said "and this is
4 the first time the city of Washington has
been selected as place of meeting You
1 have generally selected financial, CONNER
| cial and manufacturing centers which. no
doubt have proven attractive and instruc-
tive as well as pleasurable.
1--WE of Washington extremely graft
| fed that this year we have the pleasure OF
receiving and entertaining the members OF
the association at the national capital
while you are the special guests of the
| Bankers Association of the District of CO.
l lumbta, the Clt1ZenS or w WdSnlnSlOn all unite
with us in extending to you an earnest and
cordial welcome.
Although commerce and manufacturing
| will not appeal to you here there are other
features not existing in other cities that
will attract your attention.
washington has become a center OF art,
| literature. schools and universities, includ-
| ing all the departments of science, and,
above ALL 1t is the seat of government of
| the greatest republic in the world.
IVA ShingtOn also has become Dre-eni-
nently attractive as an ideal residential
| city. You will find much that is unique
and instructive, and in which you, as citi-
| zens of this country, have taken a personal
| interest and pride, not only in what al
ready exists, but in what IS further to be
promoted on national lines, as the best and
most appropriate for the beauty and dig
| nifty of the nations capital
"The Bankers Association of the District
OF Columbia was organized June, 1901 and
has membership consisting of twelve ma
tionai banks, four trust companies. four saw
| ings banks and five private banking firms
| in all, numbering twenty-five. ehave found
the organization productive of great good
not only In banking methods and procedure
put IN Individual association and in the es-
tablishment Of cordial intercourse between
Its members. While we are fair, straighrror-
ward rivals. we are all friends.
In 1851 the population of the District of
solumnia was 20 COO BY the police census.
taken in April of this year is shown an
increase OF 24s,OO0 and a total population
| Of $4,000
Healthy Financial Growth.
THE national currency act was passed in
lSG3. In 1885, Immediately after the war.
there were. in this city. five national banks,
with capital of s1,350.O0O. deposits of ST.
44s,OOO and surplus and undivided profits
Of $259.O0O. with resources and liabilities of
$t.l31,O 900. In September. 1905, this year.
in the last reports called for by the con-
trOlIer OF the Currencv. II ia SbnWu hot
had twelve national banks and four trust
companies. with total capital of $11 O27-
zoo, Of individual deposits of $4,000. 900,
surplus and undivided profits of $4,000. 600.
with resources and liabilities amounting to
$100OOOOO These figures do not include
savings and private banks. which do not
report to the controller of the currency
and which. II taken into account would add
to the sum of deposits several millions of
dollars. -
"The first trust companies were organized
IN 1853 There are four now doing business
In the District of Columbia. They are the
only trust companies In the United States
organized under the laws of Congress, and
which are placed under the supervision of
the controller of the currency. Reports are
called for not less than five times a wear
and two annual examinations are made by
national banks
This relation to the national government
Is of great advantage to the companies and
to the public.
Il
quaintanceship formed. as these annual
conferences. have been a great factor in es-
tablishing and increasing confidence and
good banking.
'The last report made by the controller
shows that over one-sixth of the total In
divldual deposits In national banks In the
United States, including Hawaii and Porto
Rico. were held by banks in New York
city, and that over one-fifth of total de-
posfts and amounts due to banks and trust
companies combined were also held in that
city
.sThis statement. among other things
which might be mentioned clearly demon-
strates that New York city Is the financial
center of the country. It's weekly state
ments of the condition OF national banks In
New York Is the financial barometer that
Is regularly looked for and carefully ex-s
amined throughout the country. 1t IL a
good indicator OF the general financial situ-
alton and reliable guide.
II deem 1t also fair to say that there are
- abler bankers Or more patriotic citissns