The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1906-10-19

JttrSIdIcu HI LID w Us IS w.
xention That There should be .
Bond of Sympathy Between National
Banks. State Banks and Trust Conn
panics-The Safeguarding of Munic-
ipaI Securities Was One of the Inn
portant Matters Considered by Exec
utive Committee.
" Louis, October 16.-The Alnerl-
caA Bankers Association convened to-
dav for it's thirty-second annual con-
vention when the trust companies sec
ton was called to order at the Olympic
theatre, simultaneously with the gath
ering Of the savings n section at
SCHUYLER Memorial Hall.
The meeting Of the association as a
whole will not take place until rtomor-
row.
Hundreds of prominent bankers,
representing every state and territory
as we'll as the United States depend
encies,are here as delegates and officers
of the association place the total at
tendance including delegates and I'M
accredited visitors, about four thous-
and.
The principal meeting Of today was
the eleventh assembly of the trust
company section which was called to
order by Mr.. Clark Williams, vice
president Of the Columbia Trust Com
pany of New York and president of
the section. Rev. J. NJ. Kittrick, de-
livered invocation, followed by the adj
dress of welcome made by Mr.. F. S.
Wade, professor 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
committee was delivered by Chairman
Philip S. BabcOck, vice president OF
the Colonial Trust Company of New
York. One of the important matters
considered by the executive committee
was the necessity Of devising some plan
for safe guarding the issues of munic-
ipal securities. A committee of three
was appointed to act jointly IN con-
junction will the executive committed
IN bringing about some feasible and
proper plan for safeguarding the is
suIance of municipal securities and Mr..
BBbcOck stated the method devised
will be reported during the defibera-
tons of the convention. The report
of the committee on better protection
for municipal securities was delivered
by Chairman H. P. Mcintosh presi-
dent of the Guardian Savings n
Trust Company, Cleveland, Ohio.
The convention was addressed brief
ly by Hon. William Barrett Wideley,
comptroller Of the currency. He said
in part:
There should be the closest bond
of sympathy even if there is friendly
rivalry between the national bank
system, state banks and trust compa-
MES. There is a place for each kline
of bank and each has a field. 1t is not
SO much a question Of quantity of
banking business o as it is the
quality done. Whatever success trust
companies of the United States have
achieved has not been specially be
cause they were ably managed as be-
cause they were honestly managed;
and they have made a remarkable rec
ord
Mr.. Breckenridge Jones. president
of the Mississippi Valley Trust Com
pany, st. Louis, who ~inaugurated the
trust section of the aSSOcia-
ton, was introduced and spoke briefly.
The following resolution,
by Festus J. Wade, of ST. Louis first
vice president of the section, was
adopted:
Resolved, That should a commits
sion or committee be appointed by
the American Bankers Association to
formulate a plan to be recommended
to congress for the purpose of creating
a creditor emergency currency, that
it be the sense of this convention that
such a commission 0r committee, if
appointed. should AVE as some of its
members a sufficient number of trust
company officials to represent the i'm
pErtance of the trust companies as
financial Institutions
A IT, aftnrnnnn SncS1nr of tho tr11 or
Festus J.. Wade, president of
the Mercantile Trust Company of st.
Louis, was elected president and Philip
Babcock, vice president Colonial Trust
Company, of New York, vice president.
Ralph W. Cutter, Hartford, Conn.,,
was chosen a member of the executive
committee. The section convention
TIM adjourned.
Tonight a banquet was rendered the
general officers, executive council and
executive committees of the trust
company and savings bank sctions.
The savings bank section meeting.
held in Schuyler Memorial Hall, was
presided over by President Edward Z.
Duff, of P~ittsburg. In his annual ad-
dress, he advocated the expenditure Of
large sums to prosecute bank officials
who rob depoSitOrs.
The committee on clearing houses
appointed by the American Bankers
Association at Washington in October
1905, held an executive meeting at the
Planters hotel today. It is stated that
h committee will ask the general
convention of the association tomor-
row that it be made a section of the
American Banker Association.
Automobile and Electric Car Collide.
Providence, r. l., October 16.-An
automobile in which Grafton H. VIII
low q rrorofn1-+ rrorc40r hroIAr ond