The Birmingham age-herald., 1906-10-17
AMERICAN BANKERS MEET AT STLOUIS Trust Company Section Held
 Meeting Yesterday RIDGELY MAKES ADDRESS Banquet Is Rendered the Visitors By St. Louis club-officers Are
 Elected By Trust Com
 pany Section.
RIDGELY MAKES ADDRESS

St. Louis, October 16.-The American Bankers association convened today for dts thirty-second annual convention when 4he trust companies section was called to order at the Olympic theatre simulta- .neously with the gathering of the savings banks section at Schuyler Memorial hall. erhe meeting of the association as whole will not take place until tomorrow.
 The principal meetings of today was the ,eleventh annual assembly of the trust kcompany section, which was called to Iorder by Clark Williams. vice president Aof the Columbia Trust company of New sYork and president of the section. MT kWlliams delivered his annual address
 The annual report of the secretary MT. kJames R. Branch of New York, showed a hcredit balance for the fiscal year ending kSeptember l. 1906, of $59S. .66. The net cost hof the trust company section of the asso- Relation for the year was $1,1S 80. During ithe year 638 members had paid their dues Nbut owing to withdrawals and liqudatons t33 were dropped from membership, leav- ling 6O5. One hundred and thirteen trust hcompanies were added to the rolls since hseptember 1, 19o5 enlarglng the present membership to 71S, the largest in the his story of the section.
 Safeguard Municipal Securities. < The annual report of the executive com )nnittee was delivered by Chairman Philip lS Babcock One of the matters considered lby the executive committee was the ne- tcessity of devising some plan for safe kguardng the issues of municipal securi bties Mr Babcock said the method de- vised will be reported during the deliber- ntions of the convention.
 The report of the committee on better fprotection for municipal securities was delivered by Chairman H. P. Mcintosh, tof Cleveland
 Pierre Jay. bank commissioner of Mas Bachusetts then spoke
 The convention was then addressed briefly by William Barrett Ridgely, comp Hroller of the currency. He said in part.
 "There should be the closest bonds of sympathy even if there is friendly rivalry, fbetween the national bank system, state tbanks and trust companies. There is a lpface for each kind of bank and each has la field. It is not so much a question of kuantity of banking business done as it lis the quality given. Whatever success the trust companies of the United States Mave achieved has not been especially because they were ably managed be- lcause they were Honestly managed, and they have made a remarkable record"
 Seek Representation.
 The following resolution introduced by fFestus J. Wade of St. Louis, first vice president of the trust company section was adopted:
 Resolved, That should a commission or committee be appointed by the Amer jean Bankers association to formulate a plan to be raised to Congress for the purpose of creating a credit or emergency currency, that 1t be the sense of this convention that such a commission or committee, if appointed, should have as some of its members a sufficient number 'of trust company officials to represent the importance of the trust companies as financial institutions"
 The convention then listened to the roll call of vice presidents of the section. be- ling devoted to five minute talks by bank 'officials from all over the country, giving Ebrief accounts of trust company condi- kions in different states.
 The session concluded with a general ldiscussion of business methods, bank ex- Hmnations, safeguards against irregular Mites and kindred topics.
 Officers Are Elected.
 At the afternoon session of the trust rcompany section. the following officers ewere elected:
 President, Festus J. Wade, president