The Mena weekly star., 1906-10-18
THE BANKERS IN ST. LOUIS
Thirty-Second Annual Convention of American Association Be-
 gins its Sessiou.
ATTENDANCE PLACED AT OVER 4,ooo
Delegates Are Present From Every State and Territory We'll as the United States Depcndencies-Trust Companies and Savings Bank Sections Met Tuesday General Meeting Wednesday.

st. Louis, Oct. 1.-The American Bankers association convened Tues day for its 32d annual convention when the trust companies section was called to order at olympic theater, simultaneously with the gathering of the savings bank section at Schuyler Memorial hall The meeting of the place until Wednesday. Hundreds of prominent bankers. representing every state and territory as we'll as the United States dependencies, are here as delegates and officers of the as sociation place the total attendance, including delegates and unaccredited visitors, at 4000
 The principal meeting of Tuesday was the 11th annual assembly of the trust company section which was called to order by Mir. Clark Will Hams. vice president of the Columbia Trust company of New York, and president of the section.
 Rev William J. McKittrick deliv- cred the invocation. followed by tho address of welcome by Mir. Festus J. Wade, president of the Mercantile Trust company of St. Louis.
 President Clark Williams replied to the address of welcome and delivered his annual address.
 The annual report of the secretary, Mir. James R. Branchs New York, showed credit balance for the fis- cal year ending September 1, 1906, of $59S.66. The net cost of the trust company section of the association for the year was $1,1S4S0. During the year 63S members had paid their dues but owing to withdrawals and liquida- tions B were dropped from member ship, leaving cos One hundred and thirteen trust companies were added to the rolls since September l, 1905, enlarging the present membership to | 7ls. the largest in the history of the section. The annual report of the ex- ecutive committee was delivered by | Chairman Philip s. Babcock, vice president of the Colonial Trust com pany of New York One of the im- portant matters considered by the ex- ecutive committee was the necessity of devising some plan for safeguard | ing the issues of municipal securities. A committee of three was appointed to act jointly in conjunction with the executive committee In bringing about some feasible and proper plan for | FS. t,f pal securities and MT. Babcock stated | the method devised will be reported ! during the deliberations of the con- vention. The report of the committee on better protection for municipal se- curities was delivered by Chairman H. P. Mcintosh, president of the Guardian Savings and Trust company of Cleveland, Ohio. The convention was then addressed briefly by Hon. William Barrett Ridgely, comptroller of the currency
 He said in part:
 There should be the closest bond
 If sympathy. even If there is friendly rivalry between the national bank system, state banks and trust com panies. There Is place for each
 kind of bank and each has field. It is not so much a question of quanti-
 ty of banking business done as 1t is the quality done. Whatever success
 the trust companies of the United
 States have achieved has not been especially because they were ably
 managed as because they were hon. estly managed; and they have made a
 remarkable record"