The Cairo bulletin., 1907-04-24

Is Aisthorpe. and the election d
Henry Smith Candee as permanent
secretary on motion Of James H. Gal
ligan.
Il. ID Durham one Of the founders
Eof the State Bankers association
spoke entertainingly Of the causes
and effects and purposes OF the or
ganization. He said It was primarily
formed to prevent legislation in the
state that would be harmful 10 the in
| teregts OF the state from financial
point of view Few people knew it.
bur It was fact that this section of
lhe country had been developed with
money from the east for which 10
per cent had to be paid 70 get 1t and
| then 10 per cent in addition for it's
luse. This was a great hardship and
various methods We're suggested to
remedy the evil. Bills were offered
lat nearly every session In those days
Ito check the rapacity OF the eastern
money lenders, but conservative men
saw that If these bills were passed
the effect would be TO drive money
|out Of Illinois entirely, and into Iowa
and other western states which We're
anxious to take ii even at the ex-
horbitant rates, while Illinois would
progress Only a few bankers had
interested themselves In this matter
a. first spending their time and
money for the benefit Of all of the
state generally. and these had
gradually interested others until the
suggestion of forming an association
was acted upon, since which time
careful watch had been kept upon
bills introduced in he legislature
from time to time and necessary &C.
ton taken to prevent the enactment
o. such as would prove injurious. Mr..
Durham made statement which will
II artle some people, when he said
that the Illinois Bankers association ,
bad never paid one dollar to procure
OF prevent any legislation, because
L believed such action to be dishonor-
able to the association as we'll as to |
he legislature. And anyway. man |
who had to be bought would never |
stay bought; he had 10 be bought |
every time ne was wanted. Bankers |
'ought some of their customers every |
line they did business with them, by
ihowing them favors that were not
n accordance with legitimate bust
ss-but one did it because, if he did
lot the other one across the way
would. This was wrong. At present
copy Of every bin offered in the
legislature having any bearing at all
pom the banking business was sub
Ditted to a committee of the State
'ankers association and If II was
Dund Objectionable a representative
ras sent to Springfield to point out
he faults. He would say to the honor
+ the legislators OF Illinois that .
ever yet had any Of them been told ,
+ the defects In a measure and it's
robable injurious effects upon the
usiness Of tae state. that he did not at !
nee yield to the views presented. !,
Ir. Durham extended cordial iavi-
} ion TO all present to join the state
-sociaIoh and gather with its mem
e's in Moline ~ It's next meeting.
W G. Eden Of the Central Trust
Jmpany. Chicago. spoke al some
myth Of the objects Of the state as
rotation and of t1e benefits that
ould accrue to members. also of the I
resent movement 10 organize the :
lnkers into groups. Similar. talks !
ere made by T. Joiner of Easi st. o
ouis. r P. Judson Of Chicago. l. A. u
odd Of Chicago. George Woodruff Of II
,liet Mr.. Woodruff spoke Of the y
'nefits 10 young men In the ranking %
lsiness 10 be derived from sssocia-
IN with The older men; II. W u
rough Of Chicago compimenfed s.
aifo and her people upon their hos u
fality: j r Washburn Of Chicago. q
implanted ri cold feet but was in !
vor OF the group organization PLAZA. "
L. W Goddard. Of Chicago wade 2
lmorous talk telling a number 81 p
spBy little stories TO illustrate o
Dints. but iefr this message with his -
carers. No bank ever failed that "a
as not first busted. bank might ed
2 embarrassed and when pushed go he
to liquidation paying al its deposit VI
rs and creditors. but failure with II
= Ia it paiIpDs was alEsts PIE