The Montgomery advertiser., 1908-05-16

hang. out a sign. With laws and ab- sence of laws thus Inviting to black that bank wreeks are so exceptional as to command scare heads In the newspapers.
 The one thing above all others which has scandalized the banking business Is the lack of clear and con- scientious distinction on the part of certain high and near-high fnanciers ing when properly conducted Is a use fni and honorable vocation. So Is pro- motion. Each Is safe when kept apart but when mixed they make an explo- large ones. come from thus defying the laws of financial chemistry
 "Another dangerous thing in bank ing Is the lack of clear distinction be- tween lending money and going into partnership. It is the province of commercial banking to bridge over the period between seed d-time and harvest, material into finished products and to provide the connecting, link between mercantile sales and collections It Is not the province of commercial bank ing to own mortgages on farms, how ever fertile; to be partners through over-loans or otherwise in manurac- turing and merch andislng, however profitable; or to control mines now possible United States Senatorships. Lnck of Knowledge.
 What ails bankers generally is lack 9l This sn0wssoS is ssown G in the chaos of ideas among bankers, regarding currency and Kindred questions In consequence of which the initiative In legislation is getting out of the hands of bankers end into the hands of the people. Loose talk in Congress- dlscordant ed itorials in newspapers and all sorts ot utterances in pulpits ana pariors ana else can be expected when the bankers Of the country are unable to unite up on any sort of solution of paramount OAale aPepbapss however, the present cha otic state of public opinion Is the hrst stage In. natural evolution or senti- i1erit which will in due time settle our banking questions and settle them rirht. There certainly is satisfaction in 5the glorious fact that the American people as nation have never yet made a lasting mistake. president, Mir Allen briefly explained toi the members of the Association the nature and methods of the American Institute of Banking.
 His address was greatly enjoyed oy all who heard It.
 President E. J. Buck announced sever al committees which he had appointeu There were Resolutions: s. S. Broad us. chairman, E. c. Melvin and F. H. Moody; Auditing, R. F. Smith, chair man. A. J. Jones and B. H. Warren; Nominations, J. A Blount, chairman. W Fl. Manly and B. Russell As. del- e~ates to the American Banking Asso- eiation, which will be held in Denver about october 1, he announced the fol- lowing appointments: H L. McElderry and W. H Prockour. The alternates anpointed were E. F. Enslen and W. D. Kerwin.
 After the conclusion of the after noon session the members of the as- sociatton were entertained at the of- fices of the Capitol Brewing ana Ice Company where a Dutch luncheon was served.
 Last night the members gathered in the Commercial Clubs home for an informal smoker. There speeches were made by J H. Cranford. pres ident of the First National Bank of Jasper, and s. S. Broadus president of the Tennessee Valley Bank, of De- catur.
 At Jackson's Lake Today.
 Today's sessions will be held at Tack sons Lake. The members will depart from the city on the Louisville and Nashville passenger train leaving the union passenger station at 9:10 a. m.
 William B. Ridgely will speak to- day and Marion M. Jackson, of At lanta. will make an address on "The Legal Aspect of Bonding Insurance" Other business to be transacted will he the reception of reports and the election and installation of officers.