Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911, 1909-05-28
FIVE HUNDRED DELEGATES AT
ANNUAL CONVENTION
SPEAKERS DECLARE RETURN OF
PROSPERITY CERTAIN
Representatives from Los Angeles
Take Part in Symposium of
Improvement in Finana
cial Conditions

eighteenth annual convention OF the
California Bankers association opened
here today. In point of numbers the
convention Is by far the largest ever
held by the organization.
7 p. Pryor of Pacific Grove deliV-
cred the address of welcome a1ter
President Joseph d. Radford or Los
Angeles had called the gathering TO
order and the response was maze py
Charles A. Smith of Oakland
President Radford addressed the
meeting on the value of co-opera1loh
and organization and Governor Gil
lette was then introduced The gov
ernor confined his remarks 10 tne new
state banking law, which becomes ell
fective July l.
Beginning the presentation OF com
mittee reports, William II. High OF
San Francisco told OF the "oIh nc tisa,
had fallen to the lot of the executive
council of the association since the
last convention.
secretary r. NJ Wekch of san fran
cisco followed with his report ana
Treasurer ]. j. Fagan of san fran
cisco told of the financial affairs OF
the body. Irving F. Moplton Oh san
Francisco spoke for the reIlet com ~
mittee and l. Stoddard Jess or Los
Angeles for the committee on bllls OF
lading. L. p. Behrens /of Redwood
C,itv delivered the report of the dele
gates 10 the American Bankers asso-
citation convention
Then came the most interesting fea-
ture of the day, the report of the COM
mittee on legislation, by j: M Hen
derson. IT,, of Sacramento, leading up
to the discussion of the new state
hanking law mentioned by Governor
Gillett.
New Banking Laws scope
Alden Anderson, a newly APPOINTED.
state bank superintendent, led OH
with short talk on the scope of tine
new law - ia
He said little of what action he nad
nronosed to take in his new capacity,
but suggested that when the law De
came fully effective July l the pahk-
ing interests of the state would see
for themselves how well 1t Woulo oP-
crate. .-,,.-.,o,
by the reading of several papers, de,
scribed as a symposium, entitleu
.t1Ihe New Bank Act" The seven par
tenants were invited fully to express
their opinions, whether for or against
the measure. Those contributing 10
the discussion were James X. Lynch OF
san Francisco. B. G. Tognazzi of san
francisco, j. F. Sartori of Los An
seles. ]. c. Drake of Los AngeIes'
Frank Pellet of st. Helena. j. {; EG-
c1eston of Oakland and Elliott McAl-
lister of Mariensville.
]. ]. Morry of Watsonville, chair
man of the committee of establish
ment of a clearing house, presented ms
report Discussing the project he salu
that the new bank law covered it, and
he strongly recommended that the
clearing house, when organized, make
every effort to cooperate with the
state bank superintendent.
Earlier in the day the following COM
mittees were named by President Rad
ford: Auditing-W. A. Hale of Mar
tinez, c. H. Carr of Porterville and 3.
J. Castleman of Riverside; resolutions
i. M. Elliott of San Francisco, j. K.
LYNCH of Los Angeles and e. D. Rob-
erts of San Bernardino; nominations
G. w. Bush of Woodland, c. M. Son
den of Los Angeles l.. G. Worden of
Merced.
The women who accompanied the Vis-
iting bankers were entertained at the
home of Mrs. T. j. Field at o garden
fete this afternoon, and the evening
was devoted to an informal reception
to the delegates and their wives at
the hotel
Meeting to Be Eventfui
Many important subjects are to be
discussed during the two days ses-
sions, and it is predicted that the meet
ing will be one of the most eventful in
the history of the organization.
With full representation of dele
gates the convention today was called
to order at 10:30 o'clock, and after an
invocation by Rev. Father R. M. Mes
tres of the San Carlos mission an ad-
dress of welcome was delivered by
VIII M Jacks, mayor of Monterey, the
response being made by Charles A.
Smith, cashier of the Security Bank
and Trust company of Oakland Then
followed the annual address of Joseph
D. Radford, president of the associa-
ton and vice president of the German
American Savings bank of Los An
geles
In his address to the association
President Radford reviewed the bank
ing conditions for the last year and
then took up the emergency currency
act passed by the last congress, whicn,
he said, "seems to have been hastily
conceived and rushed through more
as a party measure than to meet the
demands of our pressing needs"
Abiding to the Panama canal, he
expressed the belief that whatever the
final cost might be, California by posi-
the benefits to be derived from its COM
pletion.
He touched upon the postal savings
bank scheme as one of the bankers
problems
Arguments against it. he said. are
liable to be attributed to self-interest,
and most of those in favor of it seemed
to come from politicians.
Prosperity's Return Certain
President Radford felt that the work
of the association in the last year had
been very gratifying, and he looked
confidently to the future, declaring that
"all the forces are still at work that
contributed to our former prosperity.
and Notwithstanding the drawbacks
and impediments, these same forces
are bound to bring about a return of
conditions which prevailed before the
troubles of 1907.
"The return may be delayed, but not
for long; and let us hope that, profit
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