New-York tribune., 1909-07-16
STATE BANKERS MEET IN
:. SARATOGA SPRINGS.
attendance Equals Best Record OF
Prerious Tedrs-PoStat SGU-
ings Banks Opposed.
~ns.r..n 70 u. rrIsun..

renda,cs o. nearly four hundred equal to the best
record 90 previous years Many OF the bankers a
large proportion oS whom accompanied by helr
wives snd children arrived here last evening one
largo delegation coming by special train from Ne"
york spent The time until a late hour IN re
.1evine acouaintsIoes and comparing notes Ihe
reunion feature less important a part OF ue
annual convention than Is the discussion OF bank
ing topics in the formal business sessions
The delegates. who two years ago met in the
shadow Of en- impending business breakdown
which was predicted in of the addresses al
that time and who last year reported 10 their
convention from their several parts Of the state
Indications OF q for the better. oonoinoneo
on the election Of Taft and Sherman. come TINS
wear reporting the fact of rapid and substantial
progress made toward the full restoration a. pros
persty ard Of confidence.
II was 1880 O'Clock when the meeting To-Day vas
called 10 order. and the convention was opened
with prayer by the Rev Dr. Joseph carey. OF
Saratoga Springs. in the ahserCe Of the Kew III
Ernest NJ stires of New York. who vas unaoie
70 he present. The session was held IN me roomS
rrfncipal garlor Of the hotel. the only adornment
e,f abioh were large American flags, dropped
,,re or the entrance and over the great mir
-or Al the far extremity Of the apartment besP'e
she balnliness % the ali and the manitold a''Ia'
tions ~ Saratoga the attendance was large ana
-h. interest sustained throughout Ihe meeuhs'
which did Tot adjourn until o'clock n,ueh Id'el
shan ordinarily
MAYOR WELCOMES BANKERS
Following the prayer Mayor McNulty Of Sara
.ogs snrinzs was introduced 10 make an address
of welcomes il which he referred 10 the many MS
toricaI political conventions held here and d"ei'
On the natural beauties or the town Ihen fresl-
dent Tefft read his annual address. the reference
in which 10 the election of Nj Taft as President
called forth beart- applause. Confidence now pre-
walls Mr. Teft continued. and with the eR-
rectation of good crops realized abundant pros
reritv should soon again be enjoyed Wnen MI
Teft had taken his Hiram R Smith of Rock
of he
rnents presented TO him a handsome gavel as an
expression Of appreciation by the memhers OF me
association of the in which he had directed
the affairs Of the organization during his term OF
Office
The report Of the treasurer, Delmar Runkle or
zzoosicl Falls showed the associations financial
condition 10 be Hourishirg. and the report OF the
secretary Z. O. Eldredge Of New YORK. showed
record membership Of 6ol. comparing with 5S3 q
year ago again due partly to the admission Of
<ortv-seven trust companies a a result Of the re-
rnovsl Of certain restrictions heretofore imposed by
the association The assistant secretary. William
J Henry Of New York. submitted brief report on
.he results Of associations bonding business,
and the reports we're made by spokesmen for the
eight groups which the associations member
shin throughout the state divided. all agreeing
In describing hanks in the respective districts
TO be in a healthy and prosperous condition ana
business conditions TO be improving
BANKERS AND THE PUBLIC.
The speakers OF the day were then introduced
O. watts OF Nashville. chairman Of the execU-
tive council Of American Bankers Association,
and. following hIm Lucus Teter. Of Chicago.
chairman Of the postal savings bank committee Of
that association MIR. Watts. whose address was
entirely extemporaneosIs. discussed the relations
OF bankers with the public. with other bankers
and with organizations OF bankers, topic sug-
gested 70 him BY certain remarks made by Wood
Wilson in address at the Denver con-
-n7rio asst
said had declared that banks the most
5eslousIy regarded and least liked Of the nstru-
rnents Of business in this country. and explained
This prejudice partly due lack Of banking
facilities. Mr. Watts made the point. however.
ti1. tne unfricnaiv feeling often stronger IN
Ereat cities than N sparsely settled districts He
c.ed examples Of unfair magazine references TO
bank. in the way OF alleged humorous paragraphs,
a. irauerciIz public opinion. and expressed the
re5.sr that II necessary for bankers 10 go
s,.=r raI1io opinion" Some plan of intimate as
sociaiina Nith ;he people. he urged. must be
zorsed cat-7rst Through the local bankers
pn-la.iors and then through the state bodies. In
Tennessee. aIr. Watts continued. Of the 433 hanks
a. Nere members Of the state association. which
So years ago had less than one hundred members.
Tne grow mainly due 70 the adoption OF the
s,oli-. - f7noving paid secretary. whose whole
tine Das given the associations service When
the suggestion of government guarantee OF bank
deposits vas brought up in Tennessee the strong
esf politicians in tho state. Bryan men. tried 10
get IL through The legislature that body. the
speaker declared. because of public sentiment,
b-:.t ~ b the practically united banks OF the
SIZE. 5id not dare - pass the bill.
AGAINsr POSTAL SAVINGS BANK
NJ -c-s~s subject was Some Phases OF the
Iaeslai sa,i.-s Bank Question" The source OF the
postal eas-ngs bank sentiment. in his view, was
mainly political The politicians had taken advan-
tage temporary feeling against bankers after
tho panic 1907. hut the proposed law could at the
,Ner, best only another patch the crazy quilt
o. olr financial tcgisation' The postal savings
banK system. Nr Teter continued was not i'm
rroseinsnt tise present 81 stem, but simply
ts-nalislic substitute for part OF the business now
by the hanks. The hanks not perfect,
but ..cre improving year by year, and their true
Development in line giving better train
fas bank officers. The Arguments for the pro-
posed cisrgc. he said, that postal savings
'yould lac used by many foreigners. and also
by many Americans who had lost confidence :le
hanks and tlat there were vast regions without
adequate banking facilities. III which postoficcs
very greatly outnumbered banks
Air Teter referred 20 hat ne said erroneous
statements out from Washington particularly
one by Nj. Meyer when Postmaster General thou
SANDS OF copies which had been distributed which
gave Tie impression that only twenty-five
a- savings banks facilities although that impress
sic, had probably been intended he given.
lie cited figures relating q number Of
srtroverfng view. and said that IN addition
10 the mutual savings banks there in the
United States abou; eighteen thousand state and
-.atioEal hanks doing savings bank business. AMI
IS eGa 900 oes his observst tion that most of
de foseiEne-s coming this country 40 make
homes used ;he:r local both for deposits and
To- loans. The preser; question Mir Tcter
"a z.-s the possible loss Of few dollars
u, i,aEkers re postal savings hanas. bit the
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