Los Angeles herald., 1908-04-08

p. E. HATCH, PRESIDENT OF Lo
MERGE AND PRESIDENT OF MA
their business ability as in their fru-
gality; not so much in their ingenuity
as in their industry.
Safety Essential
''It is unfortunate that all bank Off
cials do not fully realize the great trust
they have assumed. Deposits in bank
carry with them an implied contract
in the strongest terms, a contract for
the return of the money-yes, but across
its face 1t written In large letters
Safety. The recipient gives the highest
type of moral bond for the trustee
ship he has willingly assumed, to rem
der unto his customer every require
ment necessary to the transaction. Thls
the ..rst lesson in banking-is often
never fully learned. Generally, ana
very naturally. 1t is considered that
the managers primary allegiance Is 10
the stockholders of the bank that has
secured his services, and While this is
true from the business standpoint, IL
must not be forgotten that there is
moral responsibility due the depositor
which transcends all other considera-
tions This thought should be ever
present in the mind of every banker
monitor to warn him, like the still
small voice of conscience, from taking
a careless hazard in the daily routine
conduct of business.
First, the customer; second, the
stockholder; lastly. himself, lies the
order of responsibility Wherever this
idea is carried out we have bank
whose efforts will have an uplift1ng
tendency in the worlds work.
"It is only the utter disregard of con-
siderations like these that caused the
recent destruction of many of our large
banking institutions, and had much to
do with precipitating the disastrous
panic from which our country has not
vet fully recovered. 1t is monstrous
proceeding when men force themselves
to the head of great banks to seize the
prize which is the well earned fruits or
the condolences of many years, and use
that prize for a prey to their own dis
honest purposes.
more critical public attention should
be paid to bank managers, with view
to discriminating in favor of the one
who acts in accordance with the true
convention of the functions of his office,
and against those who do not realize
the great responsibilities of their posi-
ton. Enlightened public opinion is the
supreme court which directs the certain
WdY OF DTOBItSS lONoib pNeNSA
conditions. These decisions are more
far reaching in their effects than the
restraining influences of statutes, and
they stand irrevocable when legislative
enactments fail. Integrity, honesty,
character cannot be supplied by legis-
lation, no matter how good it may be.
"It pleases me on this occasion to pay
tribute to the worth, the integrity and
the splendid management of the great
| ~ 1ar sNf a
southland While I do this freely, let
me couple it with the reminder to them
of the great responsibility, touching the
future of this vicinity, that rests upon
us. Our business is quasi-public as
well as personal, and carries with it
obligations to the community as well
as to the people at large. The public
takes us into their confidence. To
certain extent we are their counsellors,
their advisers and, in many instances,
their guardians We frequently direct
their affairs. and sometimes it becomes
a duty to protect their personal inter-
est, even when that interest runs coun-
ter to our own"
Anti-Corporation Craze
"The Anti Cooperation Craze" was the
interesting subject assigned to j. Nc
MILAN, traffic manager for the Pacific
Electric company. He referred to the
many Investigations which have been
directed against corporations, and ex-
planned how he thought such things are
started against companies which are
not worthy of blame. lie said that cor
porations which are trying to please
the public are often taken to task for
alleged sins and are done injustices.
Captain Amos Fries talk on "Harbor
Development" followed. The United
States engineer told Of what has been
done and what will be done in making
san Pedro, Wilmington and Long Beach
one OF the greatest joint harbors in the
world. His address was particularly
interesting to Long Beach people, all
of whom are enthusiastic on the subject
of harbor making.
The Rev. Albert Hatcher Smith of
Pasadena spoke on "The Crown City"
The Rev. Mr. Smith was one of the
most eloquent of the speakers of the
evening. He brought kindly greetings
from beautiful Pasadena. They were
received with hearty applause. Man
ager Linnard Of the Virginia, who also
is in charge of the Maryland at Pasa-
dena, naturally "came i'm for a neat
compliment from the speaker.
The last of the toasts of the evening
was responded to by Walter j. Des-
mond, member of the board of pub
lie works of this city. His subject,
chamber of Commerce Work." was
we'll handled in a fashion which in
spired all who heard it to a deeper
sense of the responsibilities of the
members of such an organization.
The following are the officers of the
local chamber of commerce: P. e.
Hatch, president; w. Z. Hinshaw, first
vice president; C. j. Curtis, second vice
president; Frank McCutcheon, treas
urer; James A. Miller, secretary. The
directors are DIR. L. A. Perce, w. ].
Horne, G. A. Mohrenstecher, F. M.
Gates A. c. Malone, Charles G. Greene,
George C. Flint, r. H. Young, ]. ].
Morgan, H. N. Nielsen S. A. Schilling,
Jean G. Drake. C. l.. DaJ, F. G. Rob
erts, w. H. Wallace, w. ]. Morrison, b.
w. Scheurer, ]. w. Hand, Il. F. Davis
and Z. C. DEMO.
IJOTIFT. GPEL,NJ paSadQna. Cal