The Washington times., 1909-09-15
BANKER DISCOURSES
ON PROSPEROUS ERA
Address at American ASso-
citation Convention Shows
Country's Wealth.

CHICAGO. Sept. 15.-The American
Bankers Association suspended its BUSH
ness sessions today 10 give its members
an opportunity 10 attend the meetings
of two of the most important sections
of the convention-the trust company sec
ton and the clearinghouse section. Top
les of peculiar interest 70 these two i'm
portant branches were discussed at
these meetings.
Both sections were called 70 order at
10 o'clock, President A. A jackson de-
livering the annual address for the trust
company section. The purely routine
reports Of committees followed. after
which two important addresses were de-
livered, one by Daniel S. Remsen, Of
New York, on Post Mortem Admins
tration OF Wealth." and the other by
President Edward T. Perine. of the
Audit Company. Of New York, on. Trust
Company Resources and Revenues
Remsen's address was a discussion Of
the law governing the making Of wills
and the requisites Of a proper testa-
mentary administration. He referred
particularly to the administration OF es-
tates by trust companies.
Edward Perine's Address.
Perine presented a comparative table
OF the trust companies of the United
States between June 30, 1904. and June
so. 1909.
In all the array OF figures given by
Edward T. Periae on the growth of
trust companies, alike IN numbers and
resources and earning power, none were
so convincing OF the fact that panic
conditions have been superseded by an
era of real prosperity as were those
showing the large increase in deposits
since the fall Of two years ago,
The total deposits for 1903 said MIR.
Perine, have reached the high mark Of
SO. 5s7, 100000. which Is an increase of So
millions for the year, or p per cent
The combined cash on hand and in bank
held by the trust companies for the past
year reached the staggering total Of
$685., 900. goo with enough odd thousands
TO warrant calling it one billion dollars
In round numbers.
Real Prosperity Here.
'"The study Of the liabilities" contin-
ued Mr. Perine. lis also interesting, In
that IL demonstrates the great wave Of
real prosperity which is sweeping over
the entire country. In 1905 there was a
contraction from S4.221. 100000 to $751;
100000. The figures for May 30, 1903
showed liabilities amounting to $780,
100000. or an increase Of Il per cent.
Another concise bit of evidence that
is strong in proof OF prosperity. is that
the average trust company Of today is
now an institution with no less than
S277 900 Of capital Including approx
mately s17s.O00.0OO which has been paid
out in dividends together with the aug
mentation Of surplus and undivided
profits, the revenues Of American trust
companies during FIVE years past have
been about $500. 10000
Only Fifty-two Failures.
There are at present 1896 trust COM
panies in the United States. OF the Qe4
companies reporting in 1904, there have
been 50 failures without subsequent re-
sumption Of business. OF these failures
81 occurred east OF the Mississippi river.
and only 10 beyond.
The growth OF the trust companies
since 1904. enormous as regards the older
institutions and substantial in the case
Of the newer ones. Is clearly proven
by the summaries made Of each years
figures With a volume OF wealth near
" approaching 5000. 100000. the entire
number of trust companies are approx
mately equal in size TO the national
that 1883 national banks reported on
June 30. 1899 TO the Comptroller Of the
Currency that their total resources and
ia bilities were - ,70S, 900, 900. or only
sos, 600 900 more than the total wealth Of
The trust companies Of today"
Sherman Is Called Away.
Vice President Sherman was on the
program for an address, but he left town
last night being called away on bust
ness.
This afternoons session will be de-
voted to a general debate on subjects
of, importance 10 trust companies, fol-
lowing which officers VIII be elected
and installed.
President E, c. McDougall opened the
annual meeting Of the clearing house
section with his address, following which
the reports Of the various officers and
committees were read TIE general
program included the following ad-
dresses:
System of State Clearing House in
California by A. Kains San Francisco
bank examiner: "Atlanta's Plan OF Col
lecting Country Checks. By Joseph A.
MoCord. Of Atlanta, and a number Of
similar subjects.
WOMAN PROTESTING