The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1908-09-28
BANKERS GATHER
FOR CONVENTION
Three Thousand Delegates Will
Fe In Attendance
WEIGHTY SUBJECTS AHEAD
Guaranty of Bank Deposits Will Be
Discussed, With Probable Weight
of Opinion Against Views of
William J. Bryan.
WEIGHTY SUBJECTS AHEAD

Denver Col, September &-More thah
5000 bankers, representing all classes Oh
financial institutions and every state IN
the union, will assemble here this week
at the thirty-fourth annual convention OF
the American Bankers association, Hun
dreds of delegates are already on the
scene and it is evident from their CONVEX
sation in the hotel corridors that the live
lest session since the memorable one of
1896 is expected. This year the guaranty
of bank deposits probably will be the
principal topic of discussion. Another
subject of vital interest that will be dis
cussed at length is that of currency. The
association was not satisfied with the
Aldrich currency bill. The currency COM
mission of the American Bankers asso-
citation, which drafted a measure of its
| own only to see it rejected by the leaders
! of Congress, will make its formal re-
port at next Thursdays session and dele
gates then will be given an opportunity
to express their views on the subject.
The reports of the legislative commit
panies and bills of lading which will be
made at the opening session on Wednes-
| day will present other topics of general
interest. The association has been try
ing for several years to prevent the ex-
press companies selling money orders
while the alleged failure of the railroads
to safeguard bills of lading also has been
the subject of much contention, both in
the courts and before Congress and the
interstate commerce commission. 1t is
practically certain that the convention
will empower these committees to con-
tinue their respective contests.
! A number of speakers of national prom
inence will participate, not only in the
sessions of the convention proper. which
will be held on Wednesday and Thurs
day, but also of the savings bank and
trust company sections on Monday and
Tuesday. Pierre Jay, bank commissioner
of Massachusetts,, will deliver an address
at the meeting of the savings bank Sec
ton and the proposed postal savings bank
law will be analysed in the report of a
special committee appointed for that pur-
pose. 1.-THE Effect of the Recent Panic
on the Eastern Savings Banks" will be
the subject of a paper. by John G. Girls
| void of New York. Gov. Henry A.
| Buehtel of Colorado and President Will
liam e. Hughes of the Continental Trust
company of Denver, will deliver the ad-
dresses of welcome to the trust company
delegates. Among the speakers will be
Breckenridge Jones of st. Louis, who has
chosen for his subject 1.-The Trust Com
pany: A Necessity; F. II. Fries of Win
ston- Salem, N. c., who will discuss Rad
icalism versus Conservatism" and Law
renee L. Gillespie of New York, who will
speak on New York City Trust Com
panies Under Present Legislation" A
general discussion of What Lessons for
the Trust Companies Were Revealed in
the 1907 Panic" will also take place.
Governor Buchtel and Mayor Robert W.
Speer of Denver will speak at the opening
session of the convention proper Wednes-
| day, and the rest of the time up to the
| noon recess will be devoted to the reports
of the officers and the various commit
tees. In the afternoon Woodrow Wilson,
| president of Princeton university will
| speak on THE Banker and the Nation
and B. E. Walker. president of the Can
adian Bank of Commerce, will discuss
Abnormal Features of American Bank
| ing On Thursday the principal adj
dresses will be vital Issues" by Alexan-
der Gilbert, president of the New York
clearing house. and Conservation of Nat
| ural Resources" by Congressman Joseph
e. Ransdell of louisiana
There also will be meetings of the ex-
ecutive council and the clearing house
section on Monday at which matters of
importance to the association itself will
| be settled.
| The local committee of bankers has
made elaborate preparations for the COM
fort, convenience and entertainment of the
delegates and guests. A banquet, a recep-
ton, a sightseeing automobile ride and
an all-day trip to the crest of the CONT
mental divide are among the entertain
ments that have been arranged for the
visitors. All the railroads have allowed
reduced fares to and from the convention
from various sections of the country.
The membership of the American Bank
ers association embraces practically the
entire financial fraternity of the United
states. 1t was formed at Saratoga N
T., in 1870, at convention at which %
states We're represented by $40 delegates.
Its growth has been steady and at times
very rapid, the total membership today
being 1903 national, state and savings
banks and trust companies and private
banking houses. The last fiscal year, de-
spite the panic which proved disastrous to
so many banking concerns, has heen one
of the most successful in the history of
the association. While SOL members were
lost through withdrawal, consolidation.
liquidation and failure, 1243 were added 10
the roll making net gain of 552 for the
year.
The. principal officers of the associa-
ton are: President, Col j. d. Powers
of Louisville; vice president, George M.
Reynolds of Chicago; chairman executive
council, Lewis e. Pierson, New York; sec
rotary Col. Fred E. Farnsworth. New
York; treasurer, A. A. Crane, Minneano-
, lis. The president of the trust company
section is Philip s. Babcock of New
YORK; of the savings bank section. Lucius
letter of Chicago, and of the clearing
house section, August Blum of Chicago
: The executive council, which, to a large
extent, dictates the policy of the or
ganzation, is composed of representatives
from every state and of former presi-
dents Of the association. Under a resolu-
ton adopted at last years convention IFS
membership was raised to 10 members.
Battleshp Fleet Is Spoken.