Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-05-17
BANKERS VISIT The CITY
Attendance at Group Convention Larger
Than Anticipated.
OFFICERS ELECTED FOR ENSUING YEAR
After Formal welcome and Response
Members Discuss Matters of In
terest to Profession-City
IL COmpIimehted.
OFFICERS ELECTED FOR ENSUING YEAR

In the absence Of Mayor Macrae the dis
tinction of extending a welcome to the
bankers of southwestern Iowa, who were
In attendance yesterday at the annual
meeting OF group Nc. 5, Iowa State Bank
ers' association, was accorded Councilman
Robert w. Wallace who in a few well
chosen words told the inanciers that the
city was proud to De their host. The couu-
try he said, was under deep obligations to
the bankers for the long continued era of
Of prosperity, and referred to the fact that
while he was not one of their number he
had served three years In one of the banks
Of this city and his experience gained there
he considered OF priceless benefit to him In
his present business career.
j. s. Duell Of Missouri Valley responded
to the address Of welcome, his speech be-
ing an eloquent tribute to Council BUNS
and its people He said in part:
1T is fast becoming realized that Council
Bluffs and not Chicago is the center of
business for this section of the state.
doubt II your people realize how the adj
jacent towns look to Council Bluffs for
guidance in financial matters"
The attendance at the morning session,
which was called to order by Chairman w.
II. Johnson Of Logan, was considerably
larger than had been anticipated and there
were few late arrivals.
The election OF officers was held at the
morning session and resulted as follows:
Chairman, L. ID. Goodrich cashier State
Bank Of Nicola; secretary, J. F. Lake OF
| Shenandoah. The former executive COM
mittee was continued for another year.
! The members are: f. e Hart. president
| First National bank, Council Bluffs; c. L.
Price, cashier Commercial National bank
! Council Bluffs DR.. S. J. Patterson, cashier
Dunlap State bank; August Beresheim,
cashier Council Bluffs Savings bank; l.. F.
Potter. president First National bank, Har-
! Ian.
! l.. d. Goodrich, the newly appointed
chairman of group No 8, has been its sec
rotary for the last two years.
saunders Talks on. Legislation.
Only four addresses were on the program,
the balance of the time being devoted to
| an informal discussion OF matters of inter
est to the members.
State Senator c. c. Saunders of this city
was the first on the program and he gave
an interesting talk on Recent Legislation"
He spoke of the following bills recently en-
acted An act providing for the investment
Of state savings bank funds in the bonds
of drainage bitches, An act raising the
OF Ave to ten years or a fine the amount OF
the embezzIement. or both This law in
cludes a prohibition of loans to officers of
the bank except as authorized at a meet
ing of the board OF directors the official
seeking the loan not being present The
act increasing the number of. bank eX-
amners from four to five and including
loan and trust companies in the examina-
ton. This law also provides that state
savings banks shall be examined In June
and December of each year and a report
made to the state auditor. The law author
izing the renewal or extension OF the cor
porate life of state or savings banks. The
law providing that in arriving at the as
sessment for taxation purposes, the amount
of capital invested in real estate and shares
of corporations shall be reducted from the
total value of the stock This law further
provides that banks may have stock ir
subsidiary corporations for the purpose OF
erecting the buildings in which they dc
business.
Senator Saunders also told briefly Of bills
which failed OF passage, among the number
being the one making it prina facie evi
) dence of fraud for a bank to receive de
posits within thirty days of becoming in
solvent
; Trials Of Country Bankers.
James NJ Kelly spoke on The Trials Of
: Country Banker" in which he suggested
that as a matter of protection act SHOULD
! be passed requiring an educational test 70
all bank employees from the cashier down
the same as is required of lawyers ant
) physicians
Homer A. Miller of Des Moines, Arthu
Reynolds of the same city, who is chairman
: of the executive committee OF the Bankers
| National association and DR.. Patterson o
Dunlap, made impromptu talks.
: At the afternoon session r. H. Burton o
Sioux City talked on Trust Companies