Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-04-25
WATTLES TALKS TO BANKERS
Discusses Changing Conditions as They
Affect the Bankers Business.
DEPOSITS INCREASE, INTEREST DECREASES
Methods of Many of the Trust Com
pRnies characterized as Dangerous
and a Menace to Financial
Stability.

FREMONT. Neb., April A.-(special.)-
Group Two of the Nebraska Bankers as
ISOLATION closed an interesting and profit
able session this morning. The attendance
has been larger than at any previous
meeting. the total enrolment being 102.
At the session this morning resolutions
were adopted in memory of f. r. Clark of
Wahoo and E. A. Brodali of Lindsay, two
members of the association who died dur
ing the year. The following officers were
elected President, w. K. Smails, cashier
Farmers & Merchants National bank.
Fremont; vice president, C. NJ. weitzel.
Albion; secretary and treasurer. Charles
Lyman, Hooper.
B. F. Knapp of Cedar Bluffs spoke on
Bank Advertising" He thought the press
the best advertising medium and that
there should be frequent changes of
copy" The regulation standing ad he
thought did but little good.
e. F. Folda. cashier of the Union Stock
yards National bank Of South Omaha, had
for ais subject "A Banks Duty to the
Public" The first duty. he said, was to
subscribe literally for the relief of the
San Francisco sufferers. A bank should aid
financially and otherwise anything OF a
public nature that helps to aid a commun-
ity. G. w. Wattles OF the United States
National bank of Omaha, spoke on Chang
ing Conditions" He said in part:
Conditions Are Changing.
Men who think have been busy for some
time past studying the changing condi-
tions which during the last few years
have revolutionized the methods of COM
merce, transports ton and finance of our
| country. We have been forced into a
school of political economy to study again
/ the science Of the relations of capital and
labor, OF commerce and transportation and
OF finance and politics, New theories have
been evolved, old and honored traditions
/ discarded, only TO md that the kaleldo-
/ scope has changed again and still newer
| conditions confront us. We have seen
greater combinations, and these again still
| further centralized, until almost all OF the
great staples of commerce and the COM
mon carriers Of the country have been
brought under the control of a few groups
| of men, and these in turn are under the
influence o. still fewer number, until
| OF one man who can nix the price of oil
| OF our country, one the output and price
the price of sugar, two who practically
! control all OF the transportation business
west OF the Missouri river. four who can
| dictate the terms on which the anthracite
coal OF the nation can be purchased by all
| consumers, and six who can hx the prices
| OF live stock and OF meat.
| Ten years ago the largest bank in New
! York City held $50, 500, 900 In deposits. TODAY
two banks each hold 500, 10000 Ten years
City held but S4SS, 900. 900 in deposits. Today
they hold 81, go 600, 900. Trust companies have
been organized by men ambitious TO con,
! orphans. In some cases the large insur.
| ance companies have promoted and con.
| trolled these so-called trust companies
| adding their surplus millions TO aid in thS
/ frenzied financial schemes OF ambitious
men. These modern trust companies hav'
| evolved a new plan on which 10 conduct
| the banking business without reserves, &
that in November, 1906, these companies II
/ New York City had but y30,OO0.OO0 In cast
reserve against deposits OF over 8, ZOO. 600
900. II 10 true that they had on deposit
/ in other New York banks $50, 900 ,O00 bu
this would be a menace instead OF a hell
in times OF panic. AS conditions now eXiE
the clearing house banks Of New York CITY
J carry the reserves OF all the banks anS