The Norfolk weekly news-journal. (Norfolk, Neb.) 1900-19??, 1907-04-26

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who used to rob" us. From owing,
Nebraska bankers are now owed.
"The center OF wealth has followed
the center of population west, but the
center of the distribution OF wealth
remains In New York. What condi-
lions may result is a problem for some
shrewd financier. or necessity strain
on the currency results that Is felt
every twelve months. Then there
comes the cry for money--in the east
they call 1t their money but in reality
1t Is our money-our balances ordered
back home to meet the demands of the
new crops. Then they who first raised
the cry against free silver call for
cheap money, call for an asset cur.
rency. Let cheap currency never
fall on this grand new west. May
the time not come when our custo-
mers will have to scrutinize the money
we pass out to them"
II. j. Llnderink, cashier of the First
National bank of Emerson, went into
the intricate details of technical
bank subject, speaking on "Escrows:
The Bankers Duty and Responsible
lity." Mr.. Linderink discussed the
legal and moral phases of holding
deeds and other papers in trust pend
ing the fulfillment of certain agreed
conditions. His paper was closely
followed and was declared by prom
inent bankers to be well prepared
and carefully thought out.
Speaking in a lighter vein, Clement
Chase of Omaha, the editor of the
new Western Banker" held the in
terest of the convention in an address
on THE Average Man" Incidently
Mr.. Chase paid tribute to the aver
age banker who was neither so old
fashioned as to neglect modern bank
ing methods or so progressive" as to
take advantages over his community.
Mr.. Chase also advised a combination
of the glad hand" and the marble
heart" for bankers. His tribute to
President Roosevelt as the cleanser
of America" was greeted with ap-
plause.
w. S. Weston, cashier of the Far
mers State bank at Harrington, read
the final paper of the afternoon, a
practical discussion of present prob
lens under the topic, Safeguarding
Our Interests" Mr.. Weston first pre-
scented few axioms, declaring among
other things that no bank was better
than its discounts and notes receiv-
able, that some bankers were more
apt to land in the penitentiary than in
heaven, that no note was worth more
than the money it represented and
that 1t costs no more to pay secured
notes than it does unsecured notes
Mr.. Weston offered the following prac.
teal suggestions:
That each bank should have a com.
mittee to pass on all loans made by
the bank. This would support the
cashier and lessen the danger from
poor securities.
That "Groupe 8" should adopt rule
| that all members of the association
should undergo through examination
once year by a competent and dis
| interested accountant.
That the association should establish
a community of interests and create
a fund for the special protection OF
the depositors in the banks of the
district. This fund could be profitably
invested and would offer additiona
and effective protection to depositors
The standing of the banks in the
district was shown, Mr. Weston said
by the following figures for the 10:
banks in the district: Total deposits
$1G,Sl2.270: capital and surplus, 81,
472,276; cash and due from other
banks, $4,200,509 Our interests" Mr.
Weston said in closing his very eff
fective paper, included equally the in
terest of customer and banker.
Randall and Hughes Clash.
/ No sooner had the floor of the con
vention been thrown open to miscel
laneous discussion than Secretar,
Hughes of the state bankers associa
ton and Senator Randall, soon to b,
chosen president of the northeastern
association, plunged into a controver
sy concerning the part played by tn
state secretary in recent legislation a
the state capital. The Clarke an,
Randall bills, both governing depos
tory bonds furnished for county dc
posits, passed the Legislature and wer
presented to Governor Sheldon. HOLD
ing that the two bills covered the sam
matter, the Clarke bill was signed an
the Randall bill vetoed by the GOV
; ernor. The Madison county senate
charged Hughes with "butting into
affairs of state and running counter t
the wishes of the legislative commi
; tee. The Randall bill, the senate
> said, was the real measure drawn u
in the interests of the small bank
and it's death was to be ascribed t
the hostile activity of Secretar
Hughes.
Secretary Hughes reviewed his pos
ton in detail to the convention |
the running debate that followed tn
convention was carried into an intr