Arizona republican., 1909-10-22
QUESTIONS OF INTEREST
Resolution Against Postal Savings Banks Suggest
 ed-Discussion of Guar anty of Deposits Opera
 tion of the Law in Texas

otODc, t'1l lit lhHN StSSlOh pi
 the sixth annual convention of the
 Arizona Bankers association began at
 II o'clock today with thirty-one dele
 gates from various Arizona banks in
 attendance. President M. J. Cunning
 ham of Bisbee presided. and Morris
 Goidwater of Prescott was secretary.
 The president in his address to the
 congress said the bank statement of
 Arizona for September. 1909, showed
 the financial institution of the terri
 tory to be in the best condition they
 were ever in. The grand total of re-
 sources of national and state banks
 the past year is s20s41. .s93 64. show
 ing an increase ever last year of
 s2 35O.372 55.
 Referring to legislation affecting
 banking interests. the president said
 he believed the convention should
 adopt resolutions protesting against the enactment of any laws by congress
 favoring postal savings banks He considered it reflection on the hon 'SNN ol Nllf OI lO nave the United States government enter the banking field when there are so many institutions capable of caring for the financial needs of the people
 No action was taken in this matter by the convention.
 Secretary Goldwater in his annual report stated that the total member ship of the Arizona Bankers associa- ton Is now fiftynine At the request of the executive council of the Ameri- can Bankers association he read a resolution affecting bills of lading. The resolution privides that no draft shall be paid when the bill of lading attached lacks the following: Every bill of lading must in addition to the signature bear the official stamp of the authorized agent. such stamp giv- ing the date of his signature; all writ ing on said bill of lading must be in ink or indelible pencil. and the quantity receipted for must be written in full. in addition to the numerals" The convention will end Saturday evening
 The Association this afternoon heard several addresses of subjects of inter est to bankers. About eighty people present. fully half that number being business men of Globe. Hon. T R. Brandt of the First National Bank of Tombstone, Arizona, spoke on the sub ject of Guaranty of Bank Deposits" He pointed out the defects of the okla homa law and spoke of the Texas law as being serviceable. He al hat ha l...- .l.l optional in it's use, had been adhered to by all but thirty of the Texas banks l These thirty banks complied with the regulation requiring fixed bonds for those banks not operating under guar anty law
 Through F. W. Kayser of Fl Paso, the Texas Bankers association extend | ed an invitation to individual Arizona ! bankers to attend the Texas Bankers at Fl Paso next May. Hon F. E. Beck. of the London and Paris | Bank of San Francisco was unable ! to be present and he delegated George P. Edwards. president of the Pacific 1 Coast Bankers publishing company to ! deliver the address which Beck has [ been expected to give
 Becks paper dealt with Par Points" One of its chief features was a protest against the custom of banks accepting | as deposits of cash. the deposits of | anybody's personal check at par on the | date of presentation, payable any where, and unsecured except by en- , dorsement of the depositor By this l system Beck held that the depositOr ! has several thousand dollars afloat on l which 1Ie pays no interest.
 Hon. Jas. K Lynch of the First Ma | tlonal Bank of San Francisco spoke | on Modern Tendencies and Ancient | Principles Lynch pointed out the | of modern banking toward | new working facilities and increased | He scored recent reg nlations of banking bylaws and espe- | cially condemned the provisions of the | California bank act of 1909. This act | he said bristles with restriction and I penalties and divides the bankers | work into felonies and midemeanors". Tonight the visiting bankers made trip through the old Dominion shelter | Tomorrow the bankers will make a ! tour of the Globe mining district dur Ing daytime and at night will attend a reception and ball to be given in their honor. There will be a business ses-
 .a..m