The Birmingham age-herald., 1908-05-16
Good Showing Made.

talned in the review of the year in the report of McLane Hilton of Pell City, sec retary-treasurer The following are some of the interesting things he presented:
 Alabama has 272 banks. Connected with each of them will be found two or three men numbered among the leaders of their respective sections for honesty, intelligence and influence, men identified with every movement that spells progress Tn home affairs. When these bankers take proper interest in the wider and larger field there is nothing they cannot hope to accomplish through this association.
 Alabama takes off her bonnet to no state in the character and strength of her banks and bankers. If proof of this assertion is wanted, it can be supplied in a single sentence: Alabama did not have bank failure during the panic. something to be said of few states in l the union. l furthermore believe, with 1 all due modesty, that the same high 1 tribute can be paid to this association. 1 While we have not the numerical strength of several associations, while we have a | larger percentage of non-members than few of them, in point of all around
 usefulness and results accomplished we
 need not be afraid of any comparison. 1 There is very little that other associa- tions have done that we have not also
 done just as well and oftimes better" Legislative Work.
 1 The report of the legislative commit
 tee was very interesting to the bankers. It showed that the state had by law put l more restrictions upon the trust com | panies and passed the negotiable instru- l ments bill. In the absence of Chairman l Chappelle Cory of Birmingham, Michael 1 Cody of the Exchange National of Mont l gomery read the report, The essential fea- 1 lures of it follow
 Your legislative committee begs leave
 to report that the negotiable instruments 1 bill has at last been enacted into law 1 in Ala bama and is now firmly entrenched 1 in the new code. The new code also con- 1 tains an article regulating trust cosl-
 panies and banks which do a trust com- pany business. The most important
 changes effected by this article are:
 q. The capital of corporations doing
 A trust business is materially raised above 1 that required of those whose activities | are confined to banking.
 '2 The word trust as part of the name l of a corporation is confined to such as 1 do trust business, to banks and to | combinations of the two; provided that | banks already organized with trust pow CTS in their charter are exempt from the l law so long as they do not in fact do i trust business.
 '3. Trust companies may depoSil secuii- 1 ties with the state treasurer, and there bv exempt themselves from giving bond i required of guardians, executors and the 1 ike. up to an amount five times the 1 deposit.
 Examiners Needed. we all recognize that our present sys- l tenn of bank examinations is degenerating i into a farce. For one man to examine
 200 bands and trust companies every year
 is a physical absurdity. Your commit
 tee looked into the matter the first thing
 after it's appointment, only to find the
 situation in a tangle which it was too late to unravel.
 1 We respectfully recommend:
 Especially instruct our next commit
 tee as matter of first and supreme inn