The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1908-10-01
George M. Reynolds Will be
Next President of the
Organization
CURRENCY COMMISSION WILL
EXPLAIN NEW LEGISLATION
Report of the Secretary an Exhaustive
and Interesting Presentation of the
Many Banking Problems - Bank
Protection Discussed.


ers' association today. officers were
elected and resolutions that may have
a far reaching effect were consider
ed. In the election Of officers, George
M. Reynolds, the present vice presi-
dent. Is scheduled for president and
Lewis e. Plerson, the. present chair
r7an of the executive council, will be
elected vice president, The report of
the currency commission will explain
what has been done during the past
year towards the securing of nation
al currency law satisfactory to the
bankers. The committee is expected
to explain the passage by congress of
the recent financial legislation and to
give, In rough at least, the draft of
the bill that will be submitted to con-,
gress.
The report of the federal executive
committee will bring up the resolu-
ton against the bank deposit guaran-
tee proposition, and II the action of
the several sections Of the organiza-
tion can be taken as criterion, the
resolution will carry overwhelmingly.
Before this result is reached, however,
lively debate Is looked for.
Secretary's Report
The secretary's report follows:
To the American Bankers Associa-
ton:
1t is not without considerable sat
isfaction that submit herewith my
first annual report. Notwithstanding
the strenuous times which overlook
the banking interests of the country
last October, the association has had
an unusually prosperous year. We
have retained, our membership and
show healthy growth.
1 will not attempt to enlarge on the
work of the sections and the commit
tees, nor occupy your time In going
into details, for you will have full
reports from these adjuncts of our
association, suffice to say that this
has been for them an unusually active
year. The trust company, savings
bank, and clearing house sections
have accomplished a great deal along
their various lines.
Currency Commission.
You will have report from the
currency commission of our associa-
ton, of which I am secretary. firmly
believe that the currency commission,
and its two committees, was a most
important factor, through it's educa-
tional work, in preventing the passage
OF the vicious Aldrich and Fowler
bills as originally introduced; In fact,
think it is apparent, that, had 1t
not been for the work of the currency
commission, one of these bills would
have been passed by congress.
Standing Protective Committee.
There is probably no other one de-
partment of the association work
which appeals to our membership to
such an extent as the protective fea-
ture.
OF the ISL criminals arrested as
appear in the report of the protective
committee, "a have been convicted
and sentenced to specific terms
amounting to 231 years and Z months;
"a have been sentenced to indetermin-
ate terms.
The protective committee has ex-
pended $3S,522.54 for tho protection
OF 9,803 members, which amount is
$1,675.14 in excess OF the expense of
the protective committee of last year.
Consideration should be taken, in con-
nection with this increase of expense,
of the fact that there has been an in
crease Of $50 in membership, which.
based on the retaining fec we pay
the Pinkertons, will about offset this
amount The committee has gone
little further this year IN their efforts
to prosecute criminals by making spe-
cial investigations anG endeavoring
to apprehend and cause the arrest of
amateurs whose records may classify
them as dangerous criminals, as re-
suit of which additional expense has
been incurred.
A large number of our state assc-
Citations have the protective feature
and cooperate with the American
Bankers association in their endeav-
or to apprehend criminals, and at
times are pro-rated between. us. The
committee desire to express to the
state associations their appreciation of
the cooperation thus extended and
stand ready to be of service to the
various states when 1t is possible SO
to do.
Full report of the protective COM
mittee will be made, in reguar order
to the convention but I think It is
due our protective committee to say
that they have been earnest In their
work, and have given such attention